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Post by extremis on Jul 17, 2016 22:32:45 GMT
After Banknote's rate drop, Creamfinance has also reduced rates to 11.5%. Time to leave Mintos?
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Post by buttchopf23 on Jul 18, 2016 8:21:23 GMT
It was foreseeable that Creamfinance would try to get funding at a lower rate. I don't buy any loans of Banknote or Creamfinance at this rate. Maybe these originaters will rethink their rates, once they don't get their funding.
As a consequence, I will not add any Money at Mintos, and I am thinking to withdraw some funds and invest in other platforms.
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Post by littleinvestor on Jul 18, 2016 14:15:11 GMT
I also see since 3-4 weeks my money piling up as my AI is set at 12% minimum with buyback less than 12 months term, it hardly manages to find something. If people don't buy perhaps it will work out the same as in Twino and they re-adjust the rates (it is their right of course to challenge the market even though it heavily dissatisfies customers).
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Post by buttchopf23 on Jul 18, 2016 16:18:52 GMT
Agreed. If I was an Originator, I would try get my funding as cheap as possible as well.
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Post by buttchopf23 on Jul 20, 2016 9:12:48 GMT
And now they try it with 10.5% from some days to some months... nothing for me.
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Post by extremis on Aug 18, 2016 12:23:07 GMT
Well, Banknote is offering reasonable interest rates once again. Lendo, on the other hand has gone from 14% down to 12% in less than a month.
BTW, is there any reason why Banknote is no longer listed in Minto's Loan Originator's page? All the others are still there...
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Post by buttchopf23 on Aug 18, 2016 13:01:59 GMT
Banknote offered 12.5% yesterday or so and lendo went down to 13% Creditstar went down from 14% to 12% in less then a week..
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Post by falconet on Aug 18, 2016 19:25:49 GMT
Banknote has 13% loans right now.
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Post by buttchopf23 on Aug 19, 2016 6:56:55 GMT
Didn't see any of these 13ers. 12.5 and plus would be ok for me for Banknote, but I am reluctant to buy because they are getting on my nerves with their rate ping pong.
Lendo below 13% is nothing for me, I see there are now 12%ers..
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Post by falconet on Aug 19, 2016 10:21:20 GMT
Well, at the time of this post (and at the time of the previous post), there are several 13.0% loans from Banknote.
And by several, I mean over 300 (I guess about 315-320 or so).
All long term loans. 24 months, 32 months, etc.
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Post by buttchopf23 on Aug 19, 2016 10:38:50 GMT
Well, at the time of this post (and at the time of the previous post), there are several 13.0% loans from Banknote. And by several, I mean over 300 (I guess about 315-320 or so). All long term loans. 24 months, 32 months, etc. Sorry, just looked at shorter durations, you are right
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Post by extremis on Aug 19, 2016 12:02:27 GMT
Anyone knows why Banknote does not show up at Loan Originator's page? Anything wrong with them?
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Post by Whitbourne on Aug 23, 2016 21:09:19 GMT
Anyone knows why Banknote does not show up at Loan Originator's page? Anything wrong with them? I asked Mintos. The answer was: "Information about Banknote is being updated and at the moment they have paused loan placing on our marketplace." So it could be a corporate action of some kind, a merger or Banknote considering a different business model. We'll find out in due course.
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Post by Whitbourne on Aug 24, 2016 0:31:46 GMT
Interesting, the difference it has made now that Banknote has withdrawn. I had a look on the primary market just now. There are 2,925 loans available.
Use the filter to eliminate Mogo as an originator and there are... 151. A mix of business loans, 1-year personal loans and invoice finance.
I am guessing that the low number is, in part, because people are using auto-invest and so new personal loans with buy-back are being taken up as soon as they become available.
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