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prosper

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prosper

Hey guys, I have a personal loan at Prosper at 8.2 % for 20000. Not a terrible rate I guess for unsecured loan. My cards have been paid off except one and my score has increased into the 790 range, I was 730's when I got this loan. Also just joined Pen Fed, is there a chance I could get a lower rate and refinance ? 

Message 1 of 14
13 REPLIES 13
Community Leader
Super Contributor

Re: prosper

Maybe check out LightStream? @CreditCuriosity ?
Charter Member of the Discover " No Cli For You " Club !

Chase Never/24 Squad Leader
Team Pendread Anonymous
#JustSayNo2Comenity
Officially S.O.G.O.T.P
Message 2 of 14
Moderator

Re: prosper

As AJC said can check lightstream i did 36 months for 5.95 on debt consolidation and they go lower on non debt consolidstion loans.  Best rates I have vs. blood suckers sucks as marcus and the likes

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | 5/3rd | Synovus | Commerce | FNBO | Union Bank | Regions
Message 3 of 14
Frequent Contributor

Re: prosper


@CreditCuriosity wrote:

As AJC said can check lightstream i did 36 months for 5.95 on debt consolidation and they go lower on non debt consolidstion loans.  Best rates I have vs. blood suckers sucks as marcus and the likes


Maybe I got in early while the getting was good but Marcus gave me 10k @ 5.99% when my scores were in the low 700's. That was the best offer I was getting at the time, and unlike Prosper, Lending Club and others, no origination fee.

Current Score: Mar 2019: EX FICO8 779, TU FICO8 800, EQ FICO 780, TU Vantage 773, EQ Vantage 786
AoOA: closed: 35 years, open: 24 years; AAoA: 11.8 years; Inquiries: 2019: 2, 2018: 3; No BK ever, 1 30 day late in 2013
Amex Gold, Amex Green, Amex Blue, Amex ED, Amex Delta Gold, Amex Hilton Surpass, BoA Platinum Plus, Chase Slate, Chase Amazon, Chase CSP, Sync Lowes, Sync JC Penney - total CL 129k
Loans: Prosper (20k/3yrs 7.14%), Lending Club (10k/3yrs 5.89%), Chase car loan (35k/6yrs 0.9%)
Message 4 of 14
Senior Contributor

Re: prosper


@Sbrooks1 wrote:

Hey guys, I have a personal loan at Prosper at 8.2 % for 20000. Not a terrible rate I guess for unsecured loan. My cards have been paid off except one and my score has increased into the 790 range, I was 730's when I got this loan. Also just joined Pen Fed, is there a chance I could get a lower rate and refinance ? 


Penfed claims their Personal Loan rates are "as low as" 6.49% with no fees on their website but I'm thinking you must need a 850 Fico score with .01% utilization to get that rate. Smiley Wink Because they just mailed me a pre-qual personal loan offer up to $25k for up to 60 months at the Uncle Guido the Loan Shark rate of 17.99%, with even a check to draw on it. I actually thought it was pretty funny as I have a $25k Home Equity LOC at 5% APR with Penfed that I've barely touched, so a tough choice but I think I'll pass on their offer for a personal loan. Smiley Very Happy

 

With a 790 credit score you might do a bit better than 8.2% rate for a personal loan, but with that score I think your smarter move would be to app for new CC with long (12-18 months) 0% balance transfer offer. You won't likely get a starting limit high enough to BT $20k, but a large enough CL to pay off a big chunk of the Prosper loan and save a bunch of interest. In 2015 I got a new CC with 15 months 0% BT and paid off the remaining balance of my $5k Prosper in full and with 0% I was able to pay it off in 15 months and saved a bunch of interest.

 


Fico 08: 720/721/719 TU/EX/EQ
Message 5 of 14
Community Leader
Super Contributor

Re: prosper

Haha @DaveInAZ Smiley Happy 850 to get the rateSmiley Wink i believe youSmiley Wink
Charter Member of the Discover " No Cli For You " Club !

Chase Never/24 Squad Leader
Team Pendread Anonymous
#JustSayNo2Comenity
Officially S.O.G.O.T.P
Message 6 of 14
Moderator

Re: prosper


@FlaDude wrote:

@CreditCuriosity wrote:

As AJC said can check lightstream i did 36 months for 5.95 on debt consolidation and they go lower on non debt consolidstion loans.  Best rates I have vs. blood suckers sucks as marcus and the likes


Maybe I got in early while the getting was good but Marcus gave me 10k @ 5.99% when my scores were in the low 700's. That was the best offer I was getting at the time, and unlike Prosper, Lending Club and others, no origination fee.


Ya you must of got in when they started out as i did pre-qual with > 800 TU score and got a lol rate of 15 or 16%..  I forgot, but not competive at all and all I get is their bi-weekly emails now that wont ever end Smiley Sad..  Probably will just have to block that email address as if I ever need a personal loan it would be with lightstream as they have the best rates out their currently.  Use to be So-FI, but they semmed to have raised their rates, etc.

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | 5/3rd | Synovus | Commerce | FNBO | Union Bank | Regions
Message 7 of 14
New Member

Re: prosper

Did Lightstream did a "deposit verification" with you?..I was approved for a loan but they said they have to do a "deposit verification", meaning that they will deposit an amount (lower than the approved amount) into my checking account and I have to get a target or walmart voucher for that same amount using my debit card and then call them..they will deposit the complete loan amount after that final verification is done..does this sounds right to you?..please help..I really need this loan..
Message 8 of 14
Senior Contributor

Re: prosper


@Perla787 wrote:
Did Lightstream did a "deposit verification" with you?..I was approved for a loan but they said they have to do a "deposit verification", meaning that they will deposit an amount (lower than the approved amount) into my checking account and I have to get a target or walmart voucher for that same amount using my debit card and then call them..they will deposit the complete loan amount after that final verification is done..does this sounds right to you?..please help..I really need this loan..

No! This does NOT sound right, it sounds like a scam!!! Are you sure you're dealing with Lightstream? How did you contact them? I've never dealt with Lightstream, but no reputable personal loan company would pull that nonsense. What it sounds like is they want you to call them with the Target/Walmart "voucher" (giftcard?) number which they will convert to cash and then pull back the deposit they made to your account and you be out the amount they deposited. Cleaver scam - Don't fall for it!

 

If any legitimate bank/lender wants to do a "deposit verification" they send 2 small deposits to your account (less than a dollar) and immediately take it back, and have you verify the 2 small deposits. Only scammers would have you buy vouchers/gift cards.


Fico 08: 720/721/719 TU/EX/EQ
Message 9 of 14
New Member

Re: prosper

Thank you very much. I'm using Lending Tree so I though they were emailing me because of that. Now I noticed the email comes from Light Stream Financial and yes very clever, it looked pretty legit until he asked for the giftcard. Hopefully is not too late as I gave him some of my info over the phone..😓..thank you again..
Message 10 of 14
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