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NEW LOANS:   | 8033.eth 0.349 Ξ | 5033.eth 0.349 Ξ | scyther.eth 0.800 Ξ | ALL

Anyone use Upstart?

Started by Peter, August 01, 2017, 11:00:00 PM

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I only put in $500. 

The pros.
- so far no defaults though a couple of close calls
- You can fund it via your credit card. Great for converting credit card to cash.  And great for points.

The Cons.
- you are not allowed to control your notes. They do the investing for you.
- No liquidity. You can't sell your investments.

In the future I probably would use Lending Club.


I liked their original mktg pitch - "smart kid drops out of college to refinance crushing student loan debt of kids not smart enough to drop out" - but they've since 'gone establishment' and some guy who used to run Gmail, for a while, at goog, is now running things, last I heard.

Their securitizations appear to be holding up, so, they're doing something right on the underwriting side - but they're competing w/SoFi.

That's stiff competition.
Publisher of the Lend Academy blog

See my returns here:


I have been using it and my returns are pretty bad. Barely getting above 2% IRR.


Damn, 17% default rate!! That is too high. What is the interest rate profile for your loans? Most probably 20%+. It is shame the guys who claim to bring Google expertise can't figure out how to do better."> from: au88 on August 06, 2017, 09:44:20 PM


A portfolio of 6 loans is no comparison with portfolio of 101 loans. The expectation of better returns is a reasonable expectation when you don't have control over how your investment is deployed."> from: EmilyFoxSeaton on August 07, 2017, 06:39:05 PM

NEW LOANS:   | 8033.eth 0.349 Ξ | 5033.eth 0.349 Ξ | scyther.eth 0.800 Ξ | ALL