I have had loans from Prosper and Lending Club in the past-prefer Prosper. Both have been paid off. I wanted to consolidate my cc and also improve my credit worthiness with higher limits. TU is 671. Was unemployed for 9 months and found a great job, but racked up some cc debt.
Marcus first did a soft pull, asked for $30k, the webiste came back with $27k, and various terms. This was on Friday. I went through the process, asked for me to upload a recent paystub, hard pull on TU, and I waited. Then the next day, Saturday, I received the final approval, and uploaded a blank check. Very fast and smooth process. 2 days!. Money is already headed to my bank.
Marcus approved me for $27k, 9.99% @ 36months. This is far lower than my credit cards, and will allow me to get completely out of debt far sooner. My plan is to pay additional towards principle and pay it down in 22 months. I could actually get it paid down in 16 mo ths, but rather have wiggle room.
For comparison sakes, I shopped both Prosper and LC, both came back with over 11.24% with LC higher. Both of course charge a large fee. Marcus does not have any fees beyond interest.
