GetMyOffer.com - What is It and What Company is Behind It

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GetMyOffer.co m Should You Apply for Pre- Approval?

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If you're reading this you are probably asking yourself is GetMyOffer.com a legitimate lending company. This presentation discusses what GetMyOffer is and the $billion company behind the offer.

Transcript of GetMyOffer.com - What is It and What Company is Behind It

  • 1. GetMyOffer.comShould You Apply for Pre-Approval?

2. What is GetMyOffer.com?A website run by peer to peerlending site Lending Club.Part of a pre-approvalprogram inviting recipients touse the Lending Club platformto obtain a personal loan.Offer codes are sent viadirect mail to extremelycredit-worthy individuals. 3. AboutLending Club is the leader in peer to peer loans.Borrowers apply for loans on the Lending Clubplatform and their requests are filled by investors.Since starting in 2007 Lending Club hasfacilitated over $5 billion in these types of loans.On August 27, 2014 Lending Club filed for a $500million initial public offering to be lead by MorganStanley and Goldman Sachs. 4. I believe we can transform the current bankingsystem into a frictionless, transparent and highlyefficient online marketplace that providesaffordable credit to borrowers and creates greatinvestment opportunities for investors, helpingmillions of people achieve their financial goals"- Renaud Laplanche, CEO of Lending Club 5. Advantages of Borrowing withLending ClubSince Lending Club operates exclusively online it has far less expenses thantraditional banks. This allows Lending Club to offer better rates to their customers.While the average credit card rate is currently around 13%, Lending Club borrowerscan get secure rates as low as 7% with the average rate around 14%.Source: Federal Reserve Bank of Cleveland 6. How Lending Club Peer to PeerLending Works 7. A Look at Debt ConsolidationA survey of Lending Club customers who used theirpersonal loans to pay off credit cards showed theysaved an average of 29%. Using that numberIf you have $15,000 in DebtWith a Lending Club Loan at14.99% APROn a Credit Card with19.34% APR(29% higher)Monthly Payments of$519.87Same paymenteach month:$519.87With minimumcredit cardpayment (4%)Total Loan Cost: $18,715Total Loan Cost:$20,795Total LoanCost:$24,978Loan would be paid off in36 monthsLoan would bepaid off in40 monthsLoan would bepaid off in184 monthsSource: Lending Club blog 8. In ConclusionGetMyOffer.com is a legitimate website that is part ofthe revolutionary peer to peer loan company LendingClub.Lending Club is able to offer lower interest ratesthan that of credit cards and can help you tobecome debt free.Personal loans can also be used for homeremodeling projects, relocation, or largepurchases Whatever you need.