Author Topic: Anyone feel that Lending Club is skimming with the "Investor Fees for this Date"  (Read 1348 times)

TheReaper

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I've never really paid much attention (me being lackadaisical) at these fees.  The daily rounding is ludicrous, when looked at it on a whole, and on average, winds up being about 1.7% for me.  For example, the other day, I had $62.19 in payments, and $1.64 in Investor Fees...about 2.6%  I've only had one day when the total came in under 1% this month (.98%)  Its been from 1.1% to 2.6%

Does anyone else find this disturbing?  Or should I just chalk it up as the cost of doing business?

yojoakak

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You know it's rounded on the display, right? You have to hover your mouse to see the actual value.

arcee49

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Also, there are "Service Fees" which is 1% of the total payment; and there are "Collection Fees" which are significantly higher.  You'd need to look at each day's payment specifically to determine how much it cost for each note and each type of fee.