Insights & updates.

We're thrilled to introduce automatic repayments (autopay) for all LendX borrowers. With autopay, your saved payment method is charged automatically on each due date. No more remembering due dates, no more late fees, and no more stress. To enable autopay, visit the Repayment Portal or the new Payment Settings page, select your loan, and click Enable Autopay. You'll be guided through a secure Stripe checkout to save your card. That's it. Autopay is powered by Stripe, a PCI DSS Level 1 certified payment provider. Your card details are encrypted and never stored on our servers. We're committed to making borrowing with LendX as simple and stress-free as possible. This is just one of many improvements coming to the platform.

Peer-to-peer lending connects individual investors directly with borrowers, bypassing traditional banks. For investors, it offers the potential for higher returns than savings accounts or GICs. For borrowers, it provides access to funding that banks may not offer. How does it work? A platform like LendX assesses borrowers, assigns risk grades, and lists loans for investors to fund. Investors choose loans based on their risk tolerance and expected return. As the borrower repays, investors receive their share of principal and interest. The key to success is diversification. Rather than putting all your capital into one loan, spread it across multiple loans with different risk grades. This way, if one borrower defaults, your overall portfolio remains healthy. Start small, understand the risk grades, and never invest money you can't afford to have locked up for the loan term. P2P lending can be a rewarding part of a diversified investment strategy when approached with care.

Building credit doesn't have to mean opening a credit card. Here are five strategies that work: 1. Take out a small personal loan and repay it on time. Every on-time payment is reported to credit bureaus and strengthens your profile. 2. Become an authorized user on a family member's credit card. Their good history becomes part of your credit file. 3. Report your rent payments. Services like Landlord Credit Bureau can add your rent history to your credit report. 4. Use a secured loan or credit builder loan. You deposit money upfront and get it back after the term, building credit along the way. 5. Keep old accounts open. The length of your credit history matters, so don't close your oldest accounts even if you don't use them. Consistency is key. Even one missed payment can set you back months. Set up autopay and let your good habits build your score automatically.