Prosper: Invest Reviews

This is super simple. Maybe not the fastest way to invest, but I just check on it once in awhile.

Perhaps I would earn more if I put more in, but I’m still fairly new with this. I started with $1000 and only gained a few dollars. But it’s money I wouldn’t have had otherwise, and this is just the start.

Would recommend for those who want a low risk, passive investment.

I’m well aware that funding any of these loans involved risk, but after having a AA rated loan fail to even make a single payment I began questioning the legitimacy of this program at all.

In part because I’m at a loss to how someone with a 700+ credit score and AA status decides to peace out with the money they’re loaned (and this app doesn’t somehow see that coming) and in part that this app does nothing after they’ve determined it is defaulted. In their terms and conditions, a defaulted loan skips collections and is sold to another company so that the new company can deal with it. Problem is, you don’t see a dime of that deal. So this app actually wins big when someone defaults because now they get to sell your loan to someone else and pocket the money, even if it’s significantly less than the original amount.

Needless to say, the loans have borderline predatory rates, so it’s no wonder they have predatory practices for investors/lenders too. Prosper is also pretty glitchy and hard to navigate - finding the defaulted loan to figure out how much money I’d lost was not easy - intentionally I’m guessing.

Future investor with this app... or so I wanted to be.

Set up my account. A week ago, roughly. Made a mistake, tried to correct it. Issue was that I fat fingered the account number when I entered it via the account set up. My mistake.

The fouled up account information can’t be fixed from my end. I have no way to delete the account, and no way to verify the account. Can’t add a new account, either.

Tried to call in, no go. They’re closed when I’m off of work.

Write in via email, and immediately got a very unhelpful run around from investor support. First, held up two days for them to get back to work.

Then I get emails asking me to verify the existing bank account, and closing the ticket.

Apparently the ONLY way to fix this is by mailing in the verification of the fouled up account. Which I can’t do, because I don’t own the account.

I ask them to delete the account (so I can set it back up again). Nope, they closed it instead. To set it back up, I have to call in to a company that is closed when I’m off.

Apparently, they don’t want my business.

So cool. You’re basically a Bank. You review applications, and pick the borrowers you want to lend to. Very simple to use. Prosper is a great way to make money and help people at the same time. this app is hands down one of the best investment companies on the market, a hidden gem so to speak. No scams, no bs......just profit. I would rate it 10 stars if I could.

It’s not immediately clear of what you can or can’t click on in this and where to find things. Also, trying to find any actuals is hard to impossible like it’s being hidden from you on purpose. Seeing the % return is ok over time but show me the $ values. So it loses a lot on trust for me and like website it feels broken.

Rate of return has been ok and I’m not bothered by the very long term nature of investing in this but for above reasons and the pain it is during tax season there’s better ways/ places to invest.

I love the Home Screen Widget. However, the widget keeps removing itself from the home screen. It’s so annoying. I always have to put the widget back on the home screen then it removes itself again. It keeps repeating. Its an annoying bug/glitch, whats the point of enabling a widget if its bugging out fix it asap. I’m using the iPhone 13 pro max and I’m updated to the latest ios software. I’m using version 1.3.3 of the this app app.

Not bad if you have the patience for a long term investment. I’ve already seen returns and pretty happy. My only gripe is that it takes forever for your deposits to clear unless you set up the deposits ahead of time, but if you’re depositing on a whim it takes a very long time.

Easiest way I’ve ever invested. Simple to use App, easy transfer of funds, auto-invest option is great. I feel like I’m helping people to get funds they need. All around win-win!

The only people making real money off using this lending app is this app and the people who default on their loans. Terrible high risk investment. These non-secured loans this app hands out like candy to anyone so they can charge fees (none of which you get to collect) for being late and charge off if the people default leaving you stuck to take the loss. Oh and have fun waiting years to get your money back after it’s invested since you can’t sell the garbage notes to anyone stupid enough to buy them!

I agree with some other comments — Prosper requires too much bouncing around to find basic info about what the user is invested in, what is still pending funding, the acct’s available balance, etc. Info is hidden behind illogical icons and banners (that often do not look ‘selectable’) and unexpected sub-menus. Prosper requires too much scrolling and guesswork.

It looks pretty but is not user friendly.

Need to be able to change your bank if you have to maybe I lost my card to it or something but luckily it’s connected to my acct I wouldn’t want it to deposit to a old card which wouldn’t but it getting held up is a bummer

Prosper ROCKS! Great service and commission rate! BUT I CANT STAND THE INTERFACE... like I have no idea who’s paying me and what day a payment is due. I accidentally invest in the same notes twice cuz I have no way of telling if it was a note I bought into or not. IT JUST. DOESNT. FEEL. SATASFYING being on Prosper . I wish it had like a Robinhood feeling to it.

When setting up my account, I ran into a number of issues, but the customer service reps were extremely patient and helpful. Love it!

Horrible customer service that can’t help with anything,

this app charges way too much with no fund that protects investors at all, they don’t care as long as the volume of loans coming in is sufficient for them, they are inefficient, very slow and default rate is quite high, along all credit ratings mind you.

And other investment companies already have a fund and protect investors with zero amount of dollars and euros lost by investors to this day.

this app needs to get their game together before they go underwater. Also they need better website and app interface before I invest any more money or find an alternative.

Love the ease and use of Prosper . The percentage are easily understandable across the platform. Auto invest tool options ensures the platform and the return percentages are on target.

The notes that you’ve already invested in stay up so you need to remember which ones you’ve invested in. And when you want to set the $ amount to invest you have to tap the button a ton. If you wanted to invest 1
$1,000 in a note you’d have to sit there and tap 1000 times.

There shouldn’t be a ton of hoops to jump through to check what you currently have and how they are doing. Also, there needs to be a more simple way to get to the notes to manually trade.

I was only looking to invest but being able to read how I was helping others was a great touch...

I use to be able to log on quickly. Now I can’t log in at all. It takes forever to login

I’ve been using this financial tool for years. I am Happy with the money it has helped me make.

Prosper is beautiful, but the investment functionality is buried. Initially I thought it was just an account review and I’d still have to go online to invest. I’d love to be able to invest from the opening page!

Simple transaction, handled perfectly!