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My Lending Club account has been active now for about 7 months. At this point, a lot has happened including early accounts fully paid, late, and charged off notes.
I starts with 100 different $25 notes. For the first couple of months, I checked my Lending Club account almost daily. In total, I ended up purchasing 9 additional $25 notes with money from interest and notes that fully paid of early.
A High Level Lending Club Overview
Now that my Lending Club account is approximately 7 months old, here are my current stats:
- Issued & Current: 97
- In Grace Period: 1
- Fully Paid: 4
- Late 16-30 Days: 0
- Late 31-120 Days: 4
- Default: 0
- Charged Off: 3
Additionally, I currently have $374.84 in available cash with an Adjusted Account Value of $2555.27. That means my Adjusted Net Annualized Return is 4.13%. I've received $210.58 in interest and Total Payments of $604.16 (Principal & Interest).
Which Lending Club Notes Have Problems
- In Grace Period
- E
- Interest Rate: 19.99%
- Term: 60
- Outstanding Principal: $23.45
- Payment Received: $4.15
- Late 31-120 Days
- E
- Interest Rate: 20.99%
- Term: 60
- Outstanding Principal: $23.76
- Payment Received: $3.35
- D
- Interest Rate: 16.99%
- Term: 60
- Outstanding Principal: $23.63
- Payment Received: $3.08
- E
- Interest Rate: 19.19%
- Term: 60
- Outstanding Principal: $23.97
- Payment Received: $2.58
- E
- Interest Rate: 18.25%
- Term: 60
- Outstanding Principal: $24.21
- Payment Received: $1.89
- Charged Off
- F
- Interest Rate: 22.99%
- Term: 60
- Outstanding Principal: $24.77
- Payment Received: $1.41
- F
- Interest Rate: 21.99%
- Term: 60
- Outstanding Principal: $24.77
- Payment Received: $0.80
- B
- Interest Rate: 11.53%
- Term: 36
- Outstanding Principal: $24.42
- Payment Received: $0.81
My Opinion of Lending Club 7 Month Performance
Over 7 months, a total of 7 notes are late or charged off. That means I'm losing a $25 note every month. To me, this is a higher than expected rate. My hope at checking in around the 1 year mark is that I don't lose a total of 12 notes. Otherwise, I most of the notes I've purchased won't be fully paid. Most of the notes that had problems were D, E, and F quality notes. Only a single B note had problems.