The fintech platform is a challenge for Prosper and Lending Club, offering consumers a chance to refinance onerous credit card debt at better rates, crowdfundinsider.com reports.
Current rates for providing credit range from 5.99% to 22.99% APR. Terms are set at 24 to 72 months for amounts up to USD 30. Marcus is designed to help consumers get out of the cycle of high credit card debt with a fixed rate, no fee personal loan.
Overall consumer debt has been pegged at USD 3.62 trillion by the Federal Reserve. This number includes credit cards, student loans but not mortgages. Revolving credit, mainly credit cards, is just under USD 1 trillion.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright