Meeting Minimum Spending Requirement Plus Make $25 with Lending Club

I recently stumbled upon Lending Club, a peer to peer lending site. Lending Club totes itself as the leading platform for investing in and obtaining personal loans. Basically you can loan money to others for a return depending on the risk of the particular loan. You can loan as little as $25 per loan. Your lending is combined with the lending of other users to fulfill the whole loan amount. The helps to diversify the risk.

The benefit to those who want to manufacture spend is the ability to initially fund your Lending Club account with up to $5,000 using Paypal with a credit card. Once you have funded your account you will have to invest the funds before you can withdraw the funds again. In general you are looking at a 6 month minimum investment, so this is only for those that want to invest and want to diversify their portfolio. As an added benefit, I found a link that offers a 1% bonus if you deposit $2,500 or more and fully invest in loans. You could invest the full $5,000 with a credit card and receive a $50 bonus.

For more information, this FlyerTalk Thread about meeting minimum spending using Lending Club is a great resource.

If you are interested in other methods of investing using a credit card check out my previous post:

How to Meet Minimum Spending on Credit Cards with Loyal3

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