Even though Prosper has the higher earnings its losses are greater. Bear in mind the loans on Prosper have been running twice as long as my Lending Club loans, hence more opportunity for loans to fall behind.L
When I search for loans in which to invest I check A, B, and C which correspond to average interest rates of 8.30%, 10.83%, and 12.41%. I leave the Credit Scores and Debt-to-Income Ratios as is. I check zero delinquencies and all loans that are in funding. After the search I sorted on “Interest Rate”.
Where to put one’s petty cash? I have mine earning 6.01% in rewards checking accounts at Coulee Bank and 5.01% in Lee County Bank and Trust (the rate was reduced from 6.01% today). I’ve not understood why more people don’t take advantage of a FDIC insured rewards checking account that pays this high of an interest rate.