new 3% Promotion

Not to be out in the cold, while LendingClub offers 1 to 3% on all today has restarted their 3% bonus promotion to lenders.  It’s a little different this time, the promotion runs from 5/12 to 5/26 and there will be 25 new Featured Listings each day. One thing I would be very curious about, is how Featured Listings perform over time versus all other listings.  I actually called Prosper and they say that Featured Listings are selected by a “random algorithm”.  I would assume their intent is to have them be random as to not imply that they are any better than all other loans available at any one time.  I can say looking at the quality of the borrowers, I don’t see any obvious pattern.  This is probably a good thing.

Here are the details:

3% Cash Back, with New Listings Every Day!*

Each day at noon we’ll be posting a new set of up to 25 listings. All you have to do is check in and make your investments, and you’ll earn 3% cash back!

The promotional period for this offer begins on Thursday, May 12 at 12:00pm PDT, and ends on Thursday, May 26 at 3:00pm PDT (the “Promotional Period), and all rebates will be paid by June 30, 2011. To be eligible, investments must be made manually on listings posted to, during the period of time the listing appears on the page. Only eligible investments during the Promotional Period that become funded Notes before the payout date will be considered “invested”. Invested funds can only qualify for one cash back promotion; in the event that a given investment qualifies for more than one such promotion, the investment will count towards each qualification threshold, if applicable, and the lender will be paid the highest available rebate amount. Investments made by automated plans are excluded from the promotion. Prosper reserves the right, in its sole discretion, to change the cash back rate of the offer at any time during the Promotional Period.

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1 Response to “ new 3% Promotion”

  1. 4% Rebate is back at at Below Your Means: Living well by living within and growing your means

    […] a month since Prosper offered a 4% rebate to lenders and now its back!  This offer replaces the 3% offer and lasts through May 27th.  This bonus is only good on manual bids in the Featured Listing […]