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I am just taking a small loan to see how the borrowing side of Prosper works, and this will be used to consolidate a couple of small credit card balances that I've been paying off pretty quickly. I am already a Prosper lender and cash flow is not a problem. My credit grade is a B. The reason it is not an A is probably because of the number of accounts I have open. I have never paid a bill late in my life. My credit is good enough that most of my credit cards are locked in at 3.99% until they are paid or 0% for a year, so with those rates locked in I am paying those off slowly and investing my money in Prosper or money market accounts, mutual funds, etc. that pay a higher rate. Therefore this Propsper loan would just put the last small credit cards into one payment at a slightly lower rate for me. |
