Author Topic: New LC Prime  (Read 16155 times)

LC Adv

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New LC Prime
« on: December 04, 2013, 05:11:27 PM »
As a result of LC Prime now capable of auto investing using your predetermined filter criteria, it appears that all my filters have been deleted. Anyone else with the same problem? Any solutions?

I started recreating my filters and saving them with the same filter name but it says a filter already exists with that name. however i can no longer see the filter.
Suggestions please/

GS

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Re: New LC Prime
« Reply #1 on: December 04, 2013, 05:24:29 PM »
Ah crap ... I don't have prime, but all my filters are gone, too.  Perhaps this is a glitch and they will be restored.

PavelR

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Re: New LC Prime
« Reply #2 on: December 04, 2013, 05:36:46 PM »
Crap is correct.  I can't believe how many glitches they have.

jfclark

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Re: New LC Prime
« Reply #3 on: December 04, 2013, 05:59:08 PM »
saved filters appear to be back now

Rob L

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Re: New LC Prime
« Reply #4 on: December 04, 2013, 06:44:15 PM »
As a result of LC Prime now capable of auto investing using your predetermined filter criteria, ...

Guess I didn't get the memo. Could you please expand on this a bit, or provide a link to explain the meaning of this.
Thanks in advance.

Peter

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Re: New LC Prime
« Reply #5 on: December 04, 2013, 06:51:43 PM »
They just implemented some changes this afternoon.

PRIME is no longer all or nothing - you can upgrade to PRIME today if you have $10K or more and it is free.

Just got off the phone with Lending Club. There were several changes today - check your NAR box as well.

Will have a detailed post on the blog about these changes tomorrow.
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Rob L

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Re: New LC Prime
« Reply #6 on: December 04, 2013, 07:25:58 PM »
I'll look forward to it.

brycemason

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Re: New LC Prime
« Reply #7 on: December 04, 2013, 07:31:17 PM »
There were some stealthy major changes yesterday, too.

Fred

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Re: New LC Prime
« Reply #8 on: December 04, 2013, 07:35:43 PM »
https://www.lendingclub.com/portfolio/primeEnroll.action

Quote
Upgrade your account to PRIME for free today

Fees: PRIME users are charged a standard fund transfer fee of 0.8%. This fee will be waived through the end of the year.

Account Minimum: PRIME service is available for accounts with at least $25,000. The account minimum has been reduced to $10,000 for new accounts through the end of the year.

Investment Frequency: Your account is reviewed each business day, with the goal of placing at least one order per week. The frequency of orders is based on your available cash, matching loan inventory, as well as the demand from other investors. There may be weeks when no orders are placed.

Pause or Cancel: You can pause or cancel the PRIME service at any time by contacting Investor Services at investing@lendingclub.com.

It does not specify if PRIME buy orders will get higher priority during the 4 "feeding times."   If this is not the case, then the 0.8% transfer fee is a bit too much for me.

Fred

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Re: New LC Prime
« Reply #9 on: December 04, 2013, 07:46:07 PM »
Also:

Quote
At any given time, there may be listed loans meeting your criteria that PRIME will not select due to constraints on how much Prime may purchase.
...

If you place orders more frequently than once per week, the PRIME service may not be for you.

http://kb.lendingclub.com/investor/articles/Investor/I-see-available-Notes-that-meet-my-investment-criteria-but-they-aren-t-being-invested-in-my-PRIME-account-Why/?l=en_US&c=Investor%3APrime&fs=Search&pn=1

sociallender

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Re: New LC Prime
« Reply #10 on: December 04, 2013, 09:08:50 PM »
There were some stealthy major changes yesterday, too.

Yes, stealthy indeed.  Looks like there were some download frequency limits placed on the notes csv file.

Bohb Daishi

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Re: New LC Prime
« Reply #11 on: December 05, 2013, 02:28:50 AM »
I wonder how well Prime will get you into the perfect-credit, 24% notes that usually get eaten up within 10 seconds.
There are three ways to make a living in this business: be first, be smarter, or cheat.

Inflationhawk

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Re: New LC Prime
« Reply #12 on: December 05, 2013, 06:18:49 AM »
I wonder how well Prime will get you into the perfect-credit, 24% notes that usually get eaten up within 10 seconds.

If LC is going to make additional revenue, I'm guessing you'd have pretty good odds with Prime.  Why would they pass up the opportunity?

DanB

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Re: New LC Prime
« Reply #13 on: December 05, 2013, 06:55:30 AM »
I wonder how well Prime will get you into the perfect-credit, 24% notes that usually get eaten up within 10 seconds.

I'd say you can stop wondering because it really won't.

Inflationhawk

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Re: New LC Prime
« Reply #14 on: December 05, 2013, 09:19:35 AM »
I wonder how well Prime will get you into the perfect-credit, 24% notes that usually get eaten up within 10 seconds.

I'd say you can stop wondering because it really won't.

Dan, why would someone not using Prime and manually selecting loans (without paying a fee) have a better chance of getting loans than someone using Prime where LC makes additional revenue?  Or are you commenting that there is no such thing as a perfect-credit 24% note?