Person-to-person lending site Prosper.com is running a few holiday promotions for both borrowers and lenders. If you have great credit, check out how your loan fees could be much less than the value of the iPod you get!
Free iPod Nano with Personal Loan
Borrowers who apply for a Prosper loan through this Monday, November 28th, 2011 get an Apple iPod Nano when the loan originates. I can’t tell if the iPod Nano is 8 gb ($129) or 16 gb ($149). Note that the fine print for this offer does not exclude AA loans with 1-year terms, which have very low origination fees of only 0.5% of the amount borrowed; a $2,000 loan would have an origination fee of just $10. There is no pre-payment penalty for paying off your loan early, so do the math.
Before committing to anything, you can get a free rate quote without affecting your credit score. You’ll even get a free credit score afterward unless you get the best AA rating, at which point you know your credit score is sky-high anyway.
iPad Nano, Bose Noise-Canceling Headphones, or iPad 2 for New Lenders
New lenders who register by December 12 and invest the minimum needed for each gift by December 23, can get the following:
- $5,000 – Apple iPod Nano, 16 GB ($149 value)
- $10,000 – Bose® QuietComfort® 15 Headphones ($299 value)
- $25,000 – Apple iPad 2 32 GB WiFi model ($599 value)
“Lenders who receive promotional offers from Prosper may be subject to IRS Form 1099-MISC reporting requirements should the total value of those items exceed $599 in a calendar year.” Gee, look how nicely that worked out.