Upstart Personal Loans Reviews

4.8 out of 5 stars
471 Reviews

From Borrowers in the last year


Application Process

4.5 out of 5 stars

Customer Service

5 out of 5 stars

5 5

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Most Helpful Positive Review

Apr 11, 2017
Initial logistical review
BrenaTheBard Borrower

I got approved for up to $50k but claimed less than half of it. Here's my profile at the time of Upstart's hard pull:

Credit score: 668. (They show you this in your messages after you apply & it was higher than many of my various tracked scores)
Credit utilization: 66% of over $30k worth in multiple credit card accounts; no other debts (no student loans, mortgages etc.)

The minimum credit requirements for Upstart is listed at the bottom of their site under "Help Center" if you search for "minimum". 

Things to note are the 620 min credit score and no more than 6 inquiries on your report in the past 6 months (not including student/vehicle loans or mortgages).

What they ask you for in addition to how much you want and what you need a loan for:

-Your educational background

-Your job status & income (they will need a paystub or work email verification later)

-A primary bank account

Total time from applying to approval: About 2 hours.

Money was deposited the next business morning.

I had been debating on taking out a loan to cover my total credit card debt of over $20k since all their 0% interest rates were expiring and we had a series of financially draining life events occur that stalled my otherwise great, on-time plan to pay everything off. I nervously applied and gratefully accepted the loan a few hours later before the cutoff time (5pm EST), so my funds were made available to my bank account the next business morning. A further surprise was that my initially quoted APR went down from around 13% to around 11%, which was way less than my lowest credit card APR. Something cool about Upstart is that you get to see how much more you can get approved for with their interactive slider which will also show you how much your rate and monthly payment would rise/fall. Great tool!

Something to note for loan virgins is that the origination fee is taken out of your loan amount - you do NOT have to save up this money beforehand in order to accept the loan. 

Hope this helps!

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Most Helpful Negative Review

Mar 22, 2017
mrnac Borrower

I just received notification from Upstart that I was approved for a loan of $4,000. The credit score they pulled for me was TransUnion FICO: 645. I am graduating from my university in about one month. I requested a 5-year loan term. My projected income is $70k (I start my job in June). I applied on the afternoon of March 10th and completed the verification call. That evening, an Upstart representative called me and asked me to provide a copy of my job offer and a screenshot of my student portal. I provided the student portal on their document submission page, but I did not have an official job offer letter. My future employer simply emailed me the job offer. Upstart would not accept a screenshot of the email, so I "opted out" of providing a copy of the job offer letter on the document submission page (I could not get in contact with my boss within the timeframe I needed the loan for).

After opting out, later that night Upstart emailed me and told me that they had received my files and would get back to me in 3-5 business days. Since I applied on Friday, March 10th, I estimated they would get back to me around Thursday. After logging in and checking the "Overview" page on Upstart, they notified me that they would get back to me by Wednesday, March 15th by 6pm PST (9pm EST). On Wednesday evening, after receiving no notification of my application status, I checked the "Overview" page again on Upstart and they had another notification telling me that they had an unusually high amount of applications and would get back to me by Friday, Mach 17th by 6pm PST (9pm EST). Alas, no notification on Friday either.

I waited until Saturday afternoon to call Upstart's customer service and the representative told me that they were still waiting on me to submit my job offer letter. I told him that I already opted out. He then told me that he would mark that on my account I would not be providing it. This upset me because I already had "opted out" of that on their document submission page. I do not know why there was seemingly a disconnect between that and what the representative saw. Anyways, he told me that they would get back to me in another "couple of days". So I waited. I finally heard back today: March 22, 2017 (12 days later from the date of my application) and was approved for $4,000 at 10.77% APR.

If you are looking to apply for this loan, be aware that it may take a while, depending on if you can provide all of the documents they request. Had I known it would take so long to get my loan, I probably would have looked elsewhere like LendingClub. Additionally, be aware that Upstart takes out an "origination fee" from the original amount you request. So, if you really want a full $4,000 loan, aim at applying for $4,500 or $5,000 with Upstart. Luckily for me, I did not need the entire $4,000. I only need about $3,300 to pay off my credit cards.

For the curious, these were my Credit Karma credit stats at the time of application:

TransUnion: 674

Equifax: 683

Credit Utilization: 55%

Inquiries: 1 (from June 2015)

Derogatory Accounts: 2 (1 30-day late payment on Macy's account in March 2015 and 3 30-day late payments on my Amazon account from Jan-March 2016)

DISCLAIMER: I was working on improving my score during the time I applied for the loan. That said, I went up about 35 points to a 713 TU/719 EQ credit score by May 21 by removing the three late payments on my Amazon account from my credit reports. That may have played an important role in getting me approved. Maybe it has not. I am not sure, but there's the information for whatever it's worth.

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These reviews were written by current and former borrowers in the last year.

Nov 13, 2017
Fast and easy approval
Anonymous Borrower

Easy and fast approval

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Nov 12, 2017
Anonymous Borrower

Easy way for debt consoladation. Simple process

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Nov 12, 2017
Fastest, easiest loan process ever
Anonymous Borrower

I gave 4 stars because I think the rate could be a little better and you can't apply jointly. I got the process completed in less than 15 minutes and I will save about 200 a month on my payments.

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Nov 12, 2017
Smooth process
Anonymous Borrower

I like that they take their time to find out why youre taking out the loan instead of just giving you the money.  

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Nov 11, 2017
Anonymous Borrower

Super fast and friendly service. Would highly reccomend!

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Nov 11, 2017
Quick and Easy!
Anonymous Borrower

Website was very easy to use and I had my loan approved within a couple hours on a saturday!!!

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Nov 11, 2017


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Nov 10, 2017
Used for debt consolidation.

Really easy to apply, got approved fast, and got my money the very next day.

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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.