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From groceries and diapers to Halloween costumes for pets, nearly 60% of American consumers prefer to shop online for everyday items that make life more convenient, comfortable, and enjoyable. And with rising prices showing no signs of stopping anytime soon, we’re pleased to introduce StackitTM from LendingClub Bank—a new browser extension that automatically finds and rewards eligible members with coupons and cash back for extra savings at more than 15,000 favorite online retailers.
Even in today’s low-yield, high-inflation environment, it’s essential to keep a certain amount of money in an easy-to-access checking or savings account for things like daily household and emergency expenses, or to meet short-term financial goals.
LendingClub completed the acquisition of Radius Bank in February 2021. At that time, in addition to the direct-to-consumerdepositbusiness, we inherited a fintech partner program,andseveral lendingbusinesses.As we reach the one-year anniversary of the acquisition, and in conjunction with the conclusion of a strategic review of our business operations, we have made the decision to discontinuecertain businesses that don’t fit our mission.
Related FAQ's
A rate of return is a net gain or loss on an investment over a specific time period. It’s expressed as a percentage of the initial cost of the investment.
You can withdraw available cash from taxable investment accounts at any time.
Find your account number in seconds simply by
We offer several ways for you to make your monthly auto loan payment, so you can choose the method that works best for you. A statement will be mailed to you every month that shows the payment amount and due date.
LendingClub provides a year-endstatementthat summarizes your account activity, including how much interest you’ve earned and information regarding Notes tied to loans that have beencharged off.
Related Glossary
{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
As a seasoned financial expert with a comprehensive understanding of various topics related to personal finance, credit, and lending, I am well-equipped to shed light on the concepts discussed in the provided article.
The article revolves around LendingClub, a significant player in the financial industry, offering services ranging from personal loans to banking products. I will delve into the key concepts and terms introduced in the article to provide a deeper understanding:
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Bankruptcy:
- The article mentions that people often file for bankruptcy as a last resort, and reasons include overwhelming medical debt, financial strain from divorce, or an unaffordable mortgage. Bankruptcy is a legal process individuals or businesses undergo when they cannot repay their debts.
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Soft Credit Check vs. Hard Credit Check:
- It explains the difference between soft and hard credit checks. Soft inquiries do not impact credit scores, while hard inquiries can have a slight negative effect. This knowledge is crucial for individuals managing their credit.
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Reading Your Credit Report:
- The article advises on how to read a credit report, identify red flags, and correct inaccuracies. Understanding your credit report is essential for maintaining a healthy credit score.
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Personal Loans:
- The article outlines reasons for obtaining a personal loan, such as debt consolidation, home renovation, or managing unexpected expenses. Personal loans are unsecured loans that individuals can use for various purposes.
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Average American's Savings by Age:
- It provides insights into how savings compare across different age groups and offers advice on growing savings. Understanding average savings helps individuals benchmark their financial goals.
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LendingClub's StackitTM:
- The article introduces StackitTM, a browser extension from LendingClub that offers coupons and cash back for online shopping. This product aims to enhance the savings of consumers.
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LendingClub's Rewards Checking:
- LendingClub's Rewards Checking is nationally certified as trusted and affordable, providing easy access to funds for daily expenses and emergencies in today's economic environment.
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LendingClub's Milestones:
- The article highlights LendingClub surpassing 4 million members and celebrating one year as a digital marketplace bank. It also mentions changes to the business model, including the discontinuation of certain businesses.
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Investing and Financial FAQs:
- The FAQs cover topics such as tracking overall rate of return, transferring money from accounts, making payments on auto refinance loans, and obtaining a summary of annual earnings. These provide essential information for LendingClub investors.
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Financial Glossary:
- The provided glossary includes terms like "Revolving Credit," "Accrued Interest," "Annual Percentage Rate (APR)," "Charge-Off," and "Fixed Interest Rate." Understanding these terms is crucial for anyone navigating the financial landscape.
In conclusion, this article touches upon a wide range of financial topics, from credit checks to personal loans and banking products offered by LendingClub. My expertise allows me to interpret and explain these concepts, providing valuable insights for individuals seeking financial knowledge.