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Lending Club Sweetens the United Airlines Frequent Flier Promotion

Investors can earn one MileagePlus mile for every dollar invested up to 100,000 miles

October 17, 2017 By Peter Renton 1 Comment

Views: 123

A year ago Lending Club launched a deal for new investors with United Airlines. New investors could earn 1 MileagePlus frequent flier mile for every $2 invested in a new Lending Club account.

Well last week Lending Club sweetened the deal. They basically doubled the amount of miles you can receive. So, instead of 1 mile for every $2 invested it is now 1 mile for every $1 invested. And best of all this is not just open to new investors, it is open to existing investors as well but you have to transfer in new funds into a taxable account. This deal is only valid until January 9, 2018 whereas the last deal had a three year expiration date. Here is the landing page for this offer (affiliate link) with more information, I have included some of the fine print from this page below:

Upon the transfer and investment of the first $2,500 of New Funds, an investor will qualify to receive 2,500 miles. For every dollar of New Funds transferred and invested in excess of $2,500, a new investor will qualify to receive 1 mile, up to a maximum aggregate bonus of 100,000 miles during the offer period of October 9, 2017 through January 9, 2018. One bonus per United MileagePlus® account. Offer expires on January 9, 2018. Offer not valid for non-taxable IRA accounts or entity taxable accounts. Notes on LendingClub platform may have limited inventory or availability and Investor ability to invest in Notes is subject to Note inventory and availability on LendingClub platform.

So, if you are thinking about opening or adding to a Lending Club account and you want to collect some frequent flier miles this is a good deal. I am not looking to add to my Lending Club account at this time but if I was I would be all over this offer.

Filed Under: Peer to Peer Lending Tagged With: Lending Club, MileagePlus, special offers, united airlines

Views: 123

Lending Club Looking for New Retail Investors with the Help of United Airlines

New Lending Club investors can earn up to 100,000 MileagePlus miles from United Airlines with this offer

October 19, 2016 By Peter Renton 8 Comments

Views: 531

united-airlines-lending-club-offer

One of my hobbies is playing the mileage and frequent flier points game. I travel a lot, therefore I earn a lot of miles. I also like to maximize my benefits here, so I am always looking for easy ways to earn bonus miles. With that in mind, an email I received today from United Airlines piqued my interest.

It was a promotion for Lending Club. Basically, you can earn up to 100,000 United Airlines MileagePlus miles for opening and funding a new account at Lending Club. The minimum investment is $2,500 and that will earn you 1,250 miles, so basically you are earning 0.5 miles per dollar invested up to a maximum $200,000 investment.

Now, this is only open to new investors so people like myself will be unable to take advantage of this offer unfortunately. Here is some of the fine print from the email:

Upon the transfer and investment of the first $2,500 of New Funds, a new investor will qualify to receive 1,250 miles. For every dollar of New Funds transferred and invested in excess of $2,500, a new investor will qualify to receive .5 miles, up to a maximum aggregate bonus of 100,000 miles per calendar year. One bonus per United MileagePlus® account for new investor registration (investors will be eligible for future offers, if any, once they become existing investors). Offer expires on or before October 12, 2019. Offer not valid for non-taxable IRA accounts. Notes on Lending Club platform may have limited inventory or availability and Investor ability to invest in Notes is subject to Note inventory and availability on Lending Club platform.

It will be interesting to see what comes of this campaign. If you have not received the email you should be able to go to this link to sign up for a new Lending Club account and get the bonus miles. The first thing you must do is enter your MileagePlus number in order to get credit for the miles. Then you walk through the typical investor signup process that happens to be co-branded with United MileagePlus.

Lending Club Continues to Reach Out to Retail Investors

I have seen borrower offers before where you can earn frequent flier miles for taking out a loan (Prosper ran one a couple of years ago) but this is the first time I have seen an effort like this targeting investors.

What this email tells me more than anything is that Lending Club is focused on adding new retail investors. And they are putting some real dollars into this effort. I don’t know what the cost per mile is to Lending Club but it likely isn’t cheap. Lending Club has shared that they have more than 135,000 retail investor accounts, they will likely add to that number with this promotion.

Filed Under: Peer to Peer Lending Tagged With: Lending Club, MileagePlus, promotion

Views: 531

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LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

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