Spirit is promoting personal loans from Prosper: 200 points for checking your rate online (no hard credit pull, apparently) and 1 point per dollar borrowed up to $35,000.
Whether you need to break free from work or some scary credit card debt, we understand.
That’s why we’ve partnered with Prosper, an online lending marketplace that offers access to low, fixed-rate loans that you can use for your next vacation or nearly anything else you need.
Prosper offers affiliate links, they’d happily pay referral fees to any blogger that wanted to advocate you borrow money from them. I do not have links from them, because I think this is a Very. Bad. Idea.
And it’s not any better of an idea when you get Spirit’s Free Spirit miles for doing so.
Look, I’m a defender of the payday loan industry because I think that people do need to borrow money sometimes to fix their cars to be able to go to work, or to cover emergency health care bills for their kids. People still need to borrow the money, and if you foreclose one option they’ll have to choose what would otherwise have been the next worse option. And I believe that people ought to be permitted to make their own choices.
And I think The Onion makes the point better than I ever could about high interest financial products actually providing a service to people even though of course if that’s the road you’re going down the mileage game is not for you.
So if you want to borrow money, and you want to borrow money from Prosper by all means go ahead. But don’t let Spirit convince you do to do!
(HT: Paul B.)