P2P Lending / NFT Lending Forum

https://www.lendingclub.com/browse/loanDetail.action?loan_id=37751945" class="bbc_link" target="_blank">https://www.lendingclub.com/browse/loanDetail.action?loan_id=37751945

You see this types of loans where the purpose is "Credit Card Refinancing" but revolving credit card balance is zero or very low compared with the amount borrowed?

Is the borrower untruthful? Am I missing something here?

Thanks

Up     44.4%  586
Flat    20.5%  271
Down 35.1%  463

125 notes are in review, this accounts for the high percentage of "Flat"
In addition I buy about 15% of the loans from Folio with a down credit score trend at discount.

Your Notes purchased on the Lending Club platform
Adjusted Net Annualized Return3 ?:    18.82%
Weighted Average Interest Rate:    19.95%
Weighted Average Age of Portfolio:    2.1 mos
Number of Notes:    1,194