Lending Club $64.62 Referral Bonus

Why $64.62? Why not a round number like $25, $50 or $100?

According to Lending Club, the peer-to-peer lending operator, banks in U.S. made $6.462 billion last quarter. Apparently, that’s where the number is coming from. Of course, you can not getting that much as bonus. Still, $64.62 is quite a decent number.

From December 3 to December 31, 2009, Lending Club is giving $64.62 to everybody who becomes a member referred by an existing member. If you are interested in starting P2P lending and using the service as an alternative to bank accounts, you can open a Lending Club account and get the bonus. Originally, Lending Club requires sending the referral link by manually entering the email address of the person who is interested. However, I feel that it may be easier to use just a link. So I sent multiple invitations to myself and the links in the emails are all the same. For this special offer, Lending Club has some rules for you to receive the bonus:

The referral must complete registration as a Lending Club investor and link a bank account in order to receive the bonus funds. Bonus funds may not be withdrawn and must be invested in Lending Club notes.

I started to use Lending Club in February. So far, I have bought a total of 134 notes. There are some good news and bad news for my investments (I will give an update of the status shortly). The following is a list of discussions of investing with Lending Club from my own experience:

• Lending Club Loan Default and Credit Score and Debt-to-Income Ratio
• Learn More About Lending Club Credit Rating and Collection Process
• Two of My Lending Club Loans Are 30 Days Late
• What I Checked Before Buying Loans with Lending Club
• Lending Club Note Trading: Another Way for Peer-to-Peer Lending

Read them to learn more about Lending Club before deciding whether you want to join or not.

BTW, I do not receive any benefit from this Lending Club referral link.