• Loan Amounts: $1,000 to $50,000
  • APR Range: 8.27% to 35.99%
  • Min. Credit Score: 620
  • Loan Terms: 3 or 5 years
  • Funding Time: 1 to 3 business days

Upstart Reviews

  • Loan Amounts: $1,000 to $50,000
  • APR Range: 8.27% to 35.99%
  • Min. Credit Score: 620
  • Loan Terms: 3 or 5 years
  • Funding Time: 1 to 3 business days

Best For

Those With a Limited Credit History


  • No minimum credit history or salary
  • A simple, online application process
  • Innovative scoring algorithm
  • Generous loan amounts from a range of providers


  • Up to 8% origination fee
  • Not available in all states
  • No choice between unsecured or secured loans

Founded in 2012, Upstart is a lending platform with an interesting approach to credit. Here’s why:

  • It partners with banks and credit unions to provide financing.
  • It uses an innovative AI-based algorithm to determine credit-worthiness. This unique approach allows them to move beyond traditional credit criteria and access a broader borrowing base.

All of this results in a 27% higher approval rate than with traditional models.

While Upstart-powered lenders won’t give personal loans for bad credit, Upstart’s unique algorithm makes it simpler to qualify. The company rewards consumers that behave responsibly, no matter whether they have an extensive credit history or not.

Upstart reviews confirm that Upstart’s done a great job of simplifying the process. Just hit the “Check My Rate” button to get started and complete your details. Upstart will then provide you with a competitive interest rate and offers from lenders within its network.

Like what you see?

Accept the best offer and get your money as fast as 1 business day.

Want to learn more about Upstart first? We’ll keep it simple. Our goal is to provide you with the facts that you need such as:

  • What the requirements are
  • What the features are
  • The nitty-gritty like APR and fees
  • What the average Upstart loan reviews say

Ready? Set! Off we go!

What Do You Need to Know About Upstart Powered Personal Loans?

  • The expected loan amount is between $1,000 and $50,000, subject to state minimums. For example, in Ohio, the minimum loan amount is $6,000.
  • The annual percentage rate (APR) ranges between 6.95.% and 35.99%, again depending on the lender and the state.
  • An average borrower can expect a monthly payment of around $37 per $1,000 borrowed over a 3-year term.
  • Select a minimum loan term of 3 years or a maximum of 5 years.
  • Upstart doesn’t offer different types of interest – Upstart interest rates are all fixed.
  • The origination fee is between 0% and 8%. The amount depends on the state and the lender’s offer.
  • If you miss a payment, you’ll pay a late fee of at least $15. Upstart charges up to 5% of the overdue amount, with no maximum fee.
  • If your bank returns your automatic payment or your check bounces, you’ll pay $15.
  • Upstart only provides unsecured personal loans. They don’t allow you to add a co-signer.
  • There is no prepayment penalty on Upstart personal loans if you repay the money early.
  • You may pay through automatic withdraw or check.
  • Reading the fine print is tedious but essential in finance. Upstart makes the terms and conditions clear in their offer and are transparent about fees, rates, and contract obligations. 
  • The company provides a useful app with a helpful financial fitness dashboard. With it, you can keep track of your credit score. Understanding your FICO rating is the first step in learning how to get out of debt with no money and bad credit. It’s also possible to use the app to change your payment dates or split the repayments over 3 or 4 days a month.
  • Preapproval takes minutes. Once you accept the offer, the final approval takes up to 48 hours.
  • Upstart reviews on BBB are generally good and the company is accredited with the Better Business Bureau. The Bureau provides arbitration services when a consumer and the company cannot agree on a resolution.
  • Funding takes between 1 and 3 business days. If everything is finalized before 5 p.m. Monday to Friday, you get your money the next day. The only exception is a 3-day hold on education loan funds.

What Are the Upstart Personal Loan Eligibility Criteria?

  • Minimum Credit Score: 580
  • Minimum Age: You must be at least 18 or, in Nebraska & Alabama, 19.
  • Citizenship: United States citizen or permanent resident
  • Income Threshold: Regular, verifiable source of income ($12,000) is needed
  • Employment: You must have a full-time job, an offer of one, disability, or retirement income. Income from part-time work and self-employment is also considered. Reviews of Upstart place an emphasis on receiving a regular income as one of the most important requirements for approval.
  • Accounts: You must have an active personal bank account, an email account, and some retail account history.
  • No Adverse Listings: Adverse listings on your credit report (bankruptcy, delinquency, collections) disqualify you automatically. If you have defaults, rather look up how to fix your credit score first. The Upstart loan requirements won’t allow any adverse listings.
  • Existing Clients: You may apply for a second loan if your current payments are up to date. The combined amount may not exceed $50,000.
  • Minimum Length of Credit History: No minimum as long as you have a FICO score
  • Have Verifiable Details: Upstart conducts its verification procedures online. They must be able to verify your social security number, employment, and address details independently.

How to Apply for a Personal Loan With Upstart?

The application process is simple. Just complete the fields required with complete honesty. The company verifies the details.

  1.  Click the “Check Your Rate” button.
  2. Fill in your personal details and educational qualifications.
  3. List the amount you require.
  4. State why you need the money.
  5. Complete your date of birth.
  6. Fill in your full address, including the state and the city.

Pros & Cons

  • Low minimum credit history
  • Up to 8% origination fee
  • A simple, online application process
  • Not available in all states
  • Innovative underwriting model
  • No choice between unsecured or secured loans
  • Generous loan amounts from a range of providers

Upstart Customer Reviews

The Upstart reviews online are overwhelmingly positive. Trustpilot gives Upstart 4.9 out of 5 stars, based on over 6,500 reviews. Most consumers appreciate the fast, simplified process and quick, hassle-free payout. Several clients commented that Upstart helped them when traditional financing options failed.

The pattern repeats on other review websites as well. Upstart loan reviews on BBB show very few complaints, and the company responded to all of them.

Only 1% of the Upstart loan reviews marked the company as “bad.” Several of these complaints related to declined loans, as would be the case with any responsible lender. One or two people mentioned that they didn’t offer good credit card consolidation loans.

One comment that we took seriously was that a client was pre-approved, but then the company couldn’t verify their information. It seems that Upstart is very thorough in its vetting process, so it’s best to be open with your application.

Privacy & Security Policy

Upstart takes your privacy seriously. The site is protected by SSL encryption from Cloudflare. The company also uses 256-bit encryption and reasonable security measures at its offices to protect your information.

The firm only collects information necessary for the Upstart personal loan application process. It will only share that information with the particular lender once you accept their offer.



Monevo is slightly older than Upstart and is a better option for Prime borrowers. The APRs start at less than half of those of Upstart. Monevo caps its origination fee at 5% overall and doesn’t disqualify you because of recent credit inquiries.


Credible provides a maximum loan amount of up to $100,000. The company allows co-signers, so it gives both unsecured and secured personal loans.

Lending Tree

Lending Tree may be a better option for borrowers with lower credit. They’ll consider borrowers with a rating of 585 or more. They’re as close to bad credit loans with guaranteed approval, as you’re likely to get. Lending Tree is also ideal if you’d like a shorter loan term – their terms start at 3 months.

Wrap Up

Upstart has built a solid reputation as a reputable lending platform. Their innovative underwriting model allows those with mid-range credit and high earning potential to benefit from better rates and opportunities.

The company regularly tweaks its offering to ensure that clients receive the best deals from recognized lenders.

Upstart reviews from customers confirm that the business is fair and delivers outstanding service. Why not see if you qualify for a loan with one of Upstart-powered lenders?


What credit score do you need for Upstart?

You must have a score of at least 620, with no adverse listings.

Is Upstart legit?

Yes. The company was founded in 2012 and hasn’t featured in any scandals. Almost every Upstart loan review paints the firm as a fair lender that makes applying for installment loans simpler.

Is Upstart a good loaning company?

Overall, yes. The company vets consumers carefully and adheres to the principles of responsible lending. Eligibility criteria are stricter than for many lenders. Just don’t expect them to tell you how to get a loan with bad credit.

Who is the Upstart personal loan best for?

A consumer with a fair credit rating and good earning potential stands to get a good deal with the company. The scoring protocols make allowances for qualifications and shorter credit histories. Those classified as Prime Borrowers are likely to get a better deal at their banks, however.

Unfortunately, Upstart reviews also confirm that those with poor credit will do better to search for a loan elsewhere.


I've loved writing since I can remember, and back in high school, I started loving psychology as well. So I majored in it while dabbling in spirituality and yoga on the side.