I would be more tempted to do a balance transfer to a new credit card. I am not convinced in the long term wisdom of borrowing money to pay back other debts.
The lending part seemed interesting and you can spread out the risk but if the company goes belly up, it is unlikely you would see any of your money.
We all want credit card companies to overlook past mistakes and most of us who had late payments in the past have feel we have a valid excuse for what happend, I know I did, but would you trust your money to the FICO system - the same one that misjudged you good or bad?
I was 30 days late 1 time, 60 days late 2 times and 90+ days late 7 times on one account 2 years ago while I was in a DMP becuase BofA droped me from the program after being in it 2 years with no lates and I didnt realize it until the account was in such bad shape. I was paying during the time period but it wasnt the right amount. The account is now PIF and was never late after I learned of the mistake.
I know late is late but would you loan someone like me money by just knowing my FICO score? The score didnt say what may intent was - both good or bad. I think I didnt deserve what happend to me, especially since BofA did little to contact me until the account was really messed up. Have you ever heard of a CCC that wouldnt call someone the moment a payment was a little late?
I doubt anyone here would have loaned me money at the time when my scores were at their worst, even if they did buy my story.
I will pass on Prosper but I am interested to see what happens.
1/25/2021: FICO 850 EQ 848 TU 847 EX
