First of all, this is a real customer review! I emphasize on it because if I - myself - read so many positive reviews anywhere about anything, my first reaction would be that the reviews are fake and written by the company/service owners. This is not the case here folks! The reason you see so may positive reviews for Upstart here is because people have actually had REALLY good experience with Upstart, and in fact, what happened to me at the end of the smooth and easy application process, when the loan was approved and originated to my bank account, I was asked by Upstart website to leave a review here at Credit Karma, and I'm more than happy to do it for other readers' benefit. So, here it goes:
I've been a long time student (darn!) living with my family, so you can imagine that how much debt and interests have been accrued on my **** high interest credit cards! I've never had a single missed payments, deragotory info whatsoever on my credit report; however, those **** credit card balances that I've been carrying from month-to-month are enough to pull down my scores and freeze it in the subprime range of 630-660ish scores in all different scoring systems. I really had no way to come out of this destructive cycle. Bad credit score --> no approval for lower rates/zero APR balance transfers nor personal loans --> increasing credit card debt ... and the destructive cycle continues on and on and deeper and deeper!
Not anymore, because Upstart is unique in the sense that it takes into account other factors like your education and the job prospects for you based on your background and skills. That's why Upstart was the only financial instituition that approved me for this amount of loan with realtively low rates. No it's not yet below 10% but much lower than my credit card APRs, and yes there is an origination fee, but even including that I'm still gonna pay lower than third of the interest paid to credit card companies. More importantly, I'm gonna get a boost in my credit score after a long time due to zeroing my revolvng balances and zero credit usage ratio, so I'm up to a healthier financial life-style of hopefully living debt-free in a few years or at least living under a way lower and managable debt. My next steps? Avoiding carrying balances with credit cards EVER AGAIN! Paying my loan installments on time and waiting for a while until my score improves and I can get even a lower APR.
Thank you Upstart for respecting my education!