Upstart Personal Loans

4.9 out of 5 stars
832 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

5 out of 5 stars

Customer Service

5 out of 5 stars

5 5

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Most Helpful Positive Review

Feb 01, 2017
Low rate and great customer service!
TechieChris Borrower

There are a number of documents that they will most likely ask for as the process goes on, but they don't ask for in the beginning.  Have these ready when you apply so you don't have to delay:

- Copy of your diploma

- Copy of your most recent pay stub

- Copy of the receipt your bank sends you with the check image for your most recent paycheck

- Copy of your most recent checking account statement (or simply connect your account when prompted)

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Most Helpful Negative Review

Apr 18, 2016
Second loan approvals a bust
EA410 Borrower

I've been a customer of Upstart's with an active loan since early 2015. All on-time or early payments above the minimum. 683 Transunion FICO score (the only credit bureau they pull) and was denied for a second loan due to "Your current and/or expected income is insufficient to support payments on an Upstart Loan in addition to your existing payment obligations." Um, not only do I make a salary in the mid $90s but my credit history is flawless with on-time payments and I requested "pay off credit cards" as my reason for the second loan. Even at the highest APR, my monthly payments would be lower than they are now. If Upstart is supposed to look beyond your credit score, they certainly didn't the second time around.

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

Mar 22, 2017
On the fifth lender, these guys approved
Crosmic Borrower

Hi interest rate and hefty origination fee. They approved me up to $16500 but I just took $10k and I'm almost 2 years into building my credit. I am too new for the rest of the lenders but they approved me for a better rate compared to other lenders.

I was thinking of only giving them 4 stars but out of the little options they had, they were the best and I didn't even need a cosigner. Beware though, I just happened to have a score over 700.

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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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Mar 14, 2017
LOVE that rates are based on work & Edu.
Anonymous Borrower

This was a quick and easy way to consolidate my outstanding debt at great rates. It's perfect for those people just getting started on building your credit as your rates are primarily based on your level of education and work experience as opposed to solely on your credit score (which young people don't have the luxury of usually having yet).

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Mar 14, 2017
Great Experience, fast and easy
RayFoley Borrower

Application was quick and easy took only a few minutes to complete. Rate was far better than what others had offered for the same amount. 

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Mar 13, 2017
Awesome!!!
Anonymous Borrower

Very fast reliable and efficient

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Mar 12, 2017
Easy, transparent process
brtny000 Borrower

Application process was easy. Everything was understandable from the start and the interest rate was much better than what comparable other companies offered. 

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Mar 09, 2017
When nobody would help me. Upstart did.
Anonymous Borrower

Easy to apply for. Not too bad interest. way better than paying my credit cards for the next eternity at 20 percent.

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Feb 27, 2017
Great rates, helpful staff
Anonymous Borrower

Very good rates and terms.  Great Customer service.

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Feb 22, 2017
Quickest modern loan service ever!
karmicgold Borrower

I've been carrying a lot of credit card debt and between the minimum payments, finance charges and interest, I wasn't getting anywhere. It was literally filling up a bucket of water without a bottom. I'm in small business and do direct sales and was able to include that income to get approved for a loan within minutes. Now, I can breathe and stop holding a grudge against the credit card company and myself. 

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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.