(EXPIRED) Now up to 100K at 1mi/$1 investing with Lending Club

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Lending Club has sent out offers in the past to pay out 1 United mile for every $2 invested through the Lending Club Platform. They have recently increased the offer: you can now earn 1 United Mileage Plus mile for every $1 invested up to 100,000 miles.

The Deal

  • Earn up to 100,000 United miles by investing with Lending Club
  • Earn 1 mile per $1 invested (in “new money”) by January 9, 2018
  • Direct link (don’t forget to add your MileagePlus number to your account)

Key Terms

  • Must transfer in funds of at least $2,500 and invest those funds
  • Must be “new funds” (transferred in from an external bank account; you don’t have to be a new investor)
  • Must invest those funds by purchasing Notes through the Lending Club platform

Quick Thoughts

I’ve never invested with Lending Club, but I’ve been somewhat intrigued at the possibility of earning both miles and a cash profit. They claim historical returns of 4-6%, though note that you could of course lose everything. That said, with some due diligence and diversification, losses shouldn’t be that drastic unless Lending Clubs shuts its doors. Gary Leff at View from the Wing suggests that an interesting play might be to invest, hold for a month, and then sell off the investments. Depending on your interest earnings, it might be possible to break even. That said, I have no experience with the platform and suggest you do your research before getting involved.

H/T: View from the Wing

Last updated on January 13th, 2018

About Nick Reyes

Nick Reyes is a (fairly) regular guy with an animalistic passion for maximizing the value of miles and money to travel the world in comfort and style. There is little in life that he loves more than finding a fantastic deal and helping you shop smarter & harder to achieve your travel dreams.

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CaraLast Chance Deals: Skiing in Aspen, 100K miles from Lending Club & more - Frequent MilerLast Chance Deals: Oodles of Ultimate Rewards, money back on gifts, transfer bonuses, and more - Frequent MilerGregPeter Renton Recent comment authors

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Benjamin Lascelle
Benjamin Lascelle

I’m getting 10% returns managing my LendingClub investments through LendingRobot. This is a great deal!


Has anyone who participated in this last MileagePlus promotion been credited their miles yet? The promotion ended January 9, and I still don’t have mine. When I called to follow-up they said mine didn’t code properly, so they are working on it manually and it will take 4-7 more weeks to get my miles!


Really encourage everyone to be careful here. Potential risks are huge.

Those who have had experience with prosper.com (a separate company, but with many similarities) several years ago know what I’m talking about. From the wikipedia summary of Prosper (https://en.wikipedia.org/wiki/Prosper_Marketplace):

“As of August 2008, approximately 18.5% of all money loaned through Prosper from inception (February 2006) through June 2008 were in some form of delinquency. Also, more than 35% of all loans that originated in February 2007 were in some form of delinquency.

As of January 24, 2010, Prosper reported that 22.45% of all money lent since inception had been charged off and an additional 2.51% was delinquent but not yet charged off.”

Peter Renton

I have been investing on both Lending Club and Prosper for many years (over 8 years on Lending Club). Both are well run and stable companies and if you diversify into $25 notes across multiple loan grades that has historically provided returns above 5%. I have been sharing details of my returns every quarter since 2011:


I’ve had a Lending Club account for several years now. At first the returns were great — consistently about 10-12%. Over time, however, as the loans have aged, the returns have gradually dwindled. My current cumulative returns are at just below 2%. So I haven’t lost money, and have still made more than I would have in a savings account, but there’s a significant amount of risk.


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