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Debt can be overwhelming, even when you’re paying as much toward your bills as you can every month.
It can help to refinance or consolidate your debt into something more manageable using a company such as Upstart. Or, if you have a big purchase that you’ve got your eyes on or need help with education-related expenses, Upstart offers personal loans, even with a fair credit score.
But, how good is Upstart, and how do their personal loan terms compare to other companies on the market? We’ve spent the time researching and even borrowing money from Upstart to find out.
In our Upstart loans review, we’ll explain the Upstart process and how it rates in helping borrowers with debt consolidation and education funding.
Upstart
Personal Loans for Nearly Everyone
Key Features
- Accepts borrowers with new or limited credit
- Get loan funds in as little as 2 business days
- Change payment dates easily
Upstart accepts borrowers with credit scores as low as 300. Loans can have high costs with an APR up to 35% and an origination fee up to 8%, but the company has established itself as solid competition with fast payouts. You can check your rates with no affect to your credit score via a soft credit check.
Upstart
APR Range
5.22% – 35.00%
Loan Amounts
$1,000 to $50,000
Minimum Credit Score
300
Origination Fee
0% to 8%
Loan Terms
3 or 5 years
What Is Upstart?
Upstart is a California-based lending company that partners with banks and credit unions to provide loans to those who need them. What makes Upstart personal loans stand out is its reputation as a financial technology (fintech) company, using artificially intelligent algorithms and non- traditional variables to determine if a borrower is creditworthy.
Rather than relying on your credit score via the credit bureaus — which Upstart does take a look at — the company also considers factors such as your education and employment to predict whether a loan is right for you. This makes…
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