Initial logistical review
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!
So fast and easy
I got preappoved on Credit Karma for Upstart. Went to their website and applied was told I would know in a week and half due to high volume and I was approved in an hour. Great rates and document requirements were a piece of cake to upload.
Best rate offered from P2P Lenders
The underwriting process was more stringent than come of their competitors, but they offered the lowest rate and I selected Upstart for my loan. Make sure you are accurate on your income estimates and leave some wiggle room because they are a little more conservative on what they count as income and counting things like overtime. They do allow you to speak to underwriters which is good because sometimes companies will not allow you to talk to the person who makes the decision. Upstart allows this and along with offering the lowest rate, that is the reason for my rating. Thnk you.
FAST, EASY, CONVIENIENT
The application process was fast and easy, the money arrived quickly directly deposited. The interest rate was much lower than the interest rate on my credit card so this was a great way to get rid of my credit card debt
Unbelievably fast approval and funding
The rate was very fair, much better than others were offering. Loan was funded the same day (today) and will clear my account tomorrow. I am very impressed by how fast and easy this was.
WOW
Was this easy....ummmm yeah!!!! I applied and within 1 hour got the phone interview and approval from underwriter. Funds are being deposited in 48 hours. Awesome! I am looking forward to get debt free in 4 years.
Painless
It took maybe about 8 hours for my loan to get approved. Easiest application I've ever done.
easy to apply
APPLY!
Simple Processing
Both of my actual banks denied me for this same loan request. Upstart has the lowest rates that i could find and approved me quickly to help me consolidate my debt.
Easy
Super eary process and very helpful customer service!
Simple process with competitive rates
Easy process, quick approval, processing fee applies..