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Overall Score

327 User Reviews

a month ago


Rates determined based on education and work experience

Upstart is a peer-to-peer lending personal loan company that offers financial solutions primarily for recent college graduates and young professionals. Borrowers can obtain unsecured loans at fixed rates.

What separates Upstart from other personal loan online lenders is its unique approval process. For a recent college graduate, Upstart looks at other factors such as education and employment history instead of only credit history. Because this process is tailored to meet the individual applicant, Upstart states it is able to save its borrowers over 23 percent compared to high-interest credit card rates.

The Good

  • High Likelihood of Approval
  • Flexible Options, Fast Disbursements 

High Likelihood of Approval 

Upstart is an excellent choice of lender for applicants who have little to no credit history and a quality education or a high-paying job. Upstart personal loans are tailored to meet the needs of the individual applicants. This is especially helpful for young professionals or recent college graduates. There is a minimum credit score requirement of 620, but there are no minimum lines of credit or years of credit required in order to apply. Factors that go into determining eligibility include:

  • Education 
  • Areas of Study 
  • Job History 
  • Credit Score
  • Years of Credit 

Flexible Options, Fast Disbursement 

The loan application process is tailored to the needs of the applicant. This enables Upstart to pass on its savings directly to the borrower. This can be seen in its APR Range (lowest rate: 9.57 percent, highest rate: 29.99 percent), low fees, and competitive max loan terms (five years). 

The process is also incredibly fast. Most borrowers are able to receive their funds the day after they apply and are approved (it takes up to three days for education loans). It is at least a day faster than some top personal loan lenders.

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The Bad

  • Not Ideal for Debt Consolidation
  • Fees Can Add Up

Not Ideal for Debt Consolidation

Although the approval process is tailored to meet the needs of the individual applicant, being approved can be challenging. The average Upstart personal loan borrower has the following credentials:

  • Credit Score of Roughly 620
  • Debt-to-income Ratio of 18%
  • Mid-twenties to Mid-thirties

The above credentials can be difficult to meet because most borrowers are looking to consolidate debt, like credit card debt or student loans.

Fees Can Add Up

Upstart unsecured personal loans do have fees to consider. It enforces a loan origination fee of one percent to six percent. The loan origination fee is taken out of the loan before the funds are disbursed to you, so one percent to six percent of the total amount of the loan is taken out. This percentage is determined by how qualified the borrower is. The higher rates go to less qualified applicants.

Upstart also charges late fees at a standard rate of five percent or $15 (whichever is greater) on late payments. It's a good idea to make sure your monthly payments arrive on time. Unlike some of its competitor lending companies, Upstart does not charge a check processing fee or a prepayment penalty. A prepayment penalty is an additional charge for paying off a loan early.

The Bottom Line

When choosing a lending company from the online lenders, Upstart is a solid lender to consider for young professionals with a good credit score, but little to no credit or credit history. Its unique application process allows these individuals to receive competitive terms.

Potential borrowers should be aware of the loan origination fee and late fees. The good news is that there is no prepayment penalty or a check processing charge. Upstart unsecured personal loans are funded the day after an applicant has been approved, which makes them a good choice for someone in need of cash quickly.


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User Reviews


327 Reviews

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Sort by:
Kevin Shaw
September 5th, 2018 Stanley, WI

Yep...don't waste your time!.... after a process of stringing a customer along for almost a week with no end in sight between emails and personal information.... >> then I get an email saying I have been approved...go into sign 1/2 hr. later and message pops ups...oops... you had a hard hit to your credit report and the loan was denied... I had never applied anywhere else... this place is a joke!

Jo Temp
May 4th, 2018 Belton, SC

The quickest loan I have ever received, money was deposited in 2 days, unbelievable wow!

Patrick Miller
February 6th, 2018 Belmar, NJ DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

I was able to secure a debt-consolidation loan in 2 days and the money was deposited in my bank account on the following business day. They were able to electronically link to my bank account for verification, I don't know if that is why my approval was so fast. Everything was done online, I didn't have to call anyone. The only thing that surprised me was the origination fee that was deducted from the amount borrowed, I don't remember seeing them say that at first, but it didn't surprise me in retrospect, and I was able to cancel out of the loan to request a slightly higher amount to cover the fee, which was approved immediately. The rate that I was offered was very competitive, my credit rating was not good and I was doing this to pay off credit cards to raise my score, and the offered rate was about 1/2 of what I was seeing offered elsewhere. I'm glad that they took into account my education, etc, to see that I was worth the credit risk and could offer that rate. Even now I'm getting offers from other places and they don't even come close to the rate that I got. I am happy and they are getting their money paid back with interest, so it's win-win for both of us. I'd definitely recommend them to others.

Elaine Panuccio
January 18th, 2018 Croydon, PA DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

Of course, the company needs to get something out of you, so they charge a certain percentage of your loan and take that fee out before sending you the lump sum. I applied, was approved, and received my loan within a week. I was very impressed by how quick this happened. Also, given my interest rates with my 2 credit card companies, even with the fee that Upstart charges, I'll be paying much, much less in the long run vs. continuing to be able to make only the minimum monthly payments on my credit cards. I estimated that it would have taken me 10-12 years to pay off my debt from my credit cards, but I used the loan from Upstart to completely pay off the credit cards. My credit score increased dramatically and my payment is about $100 less per month compared to when I was paying off the credit cards by month separately. It is a 5-year loan that automatically is taken out of my account and it has helped greatly. I took a star off for the fee that they charge, otherwise I have no complaints.

Jonathan Roy
December 18th, 2017 Astoria, NY

They send you a Pre-approval letter and then once you complete the questionnaire it's not on anymore. Fake company, false advertising.

November 13th, 2017 Fort Wayne, IN DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

Glorified payday loan..... interest rates are crazy!!!!!

October 27th, 2017 Kansas City, MO

I was approved within a few hours and funds the next day. Super easy and very impressed. I am 28, have a grad degree, in 15k credit card debt (kid, new house, irresponsible 20's), and an RN. SO happy to decrease my monthly credit card payments and consolidate with half of my APR percentages on my cards. I was very hesitant but will definitely be recommending. I had to leave a review due to all the recent negative ones.

October 19th, 2017 Lawrenceville, GA

These people are very unprofessional, They tell you one thing and then do another, Their fees are very high and they act like they are better than you because you are needing to borrow money. Do yourself a favor go to another lender.

September 25th, 2017 Torrance, CA

its total ripped off. i have a loan with this company. they will charged you a big amount for finance charge which will be deducted from the principal loan., plus the monthly interest rates. if you wanna pay off the loan you can't get away with the interest cause its already included in the total amount that you have to pay off! STAY AWAY FROM THIS COMPANY IT WAS TOO LATE FOR ME!!!!!!!

James Edison
September 11th, 2017 Houston, TX

I would like to say that Upstart is a great company for a loan. Aside from that, their community support falls short, hence the 1 rating. I am a victim of Hurricane Harvey. My girlfriend and I lost our rental property along with everything in it. The outpouring of support from friends, family, strangers and creditors has been amazing. All but one. Upstart was the only creditor between my girlfriend and myself that offered no deferment, not even one month, in the face of a natural disaster of the likes that the US has rarely seen. In the face of this tragedy, all other creditors offered at the least a one month deferment on loans, with continued ability to reapply for deferment after said month. Upstart is the only company which is not changing it's policy here. This company does help people, but the decision to not take action in this time of need for so many Americans shows their true color. I hope this changes in the future and that they realize people notice the lack of support for their fellow countrymen, red or blue.

June 26th, 2017

I thought that Upstart was the best way for me to consolidate my debt. Just as I was about to accept my loan for roughly $6,400, I read through the Promissory note, only to find that they were trying to charge me $3,700 as a finance charge! Forget these guys. I was super excited, but if something seems too good to be true, it probably is. They are not up front about these fees or charges at all throughout the process. Like the two reviews before mine, I can't quite understand all of the positive reviews on this company. It's almost as if they've written the reviews themselves.

Carlo Salcedo
June 5th, 2017

They will take two months just to get you your loan and raise your rate twice, they don't respond to emails or the phone, worst company i have ever dealt with in my life. They are extremely frustraing to even understand what they need, Please PLEASE just stay away from they you wont regret it.

May 9th, 2017 Oakland, CA

I don't understand all the positive reviews. My experience has been terrible. APR bait and switch. They've completely blown their own deadlines for loan approval, we're more than a week from application, with no updates at all. Endless waits on telephone hold, and when I did finally get through (after 50 minutes on hold), agent was totally rushed and barely competent. Feels like this company is melting down. Like the reviewer before me, I'm walking away.

April 25th, 2017 Atlanta, GA

I'm trying to wrap my head around these 5 star "Rave" Reviews, because my experience has been quite bad. I applied for a loan two weeks ago, and at first everything seemed easy and straightforward. I uploaded all my supporting credentials. My credit score is in the "Very good" range, my job/salary is very solid and stable. I'm a college grad (University of Georgia) and, well, I thought I would have been a solid candidate for loan. Maybe not? the interest rate on the pre-approval was not bad, and I was told (after my phone verification) that I would receive my loan documents in 3-5 business days- that didn't happen- so I called to follow up- and I had a terrible time getting through.. so, 24 hours later, I called again, and was told "sorry, we experiencing a delay please accept our apologies, you should receive your loan documents no later than 48 hours"-- well that didn't happen. At this point, Upstart has missed 3 of their set deadlines. They have made no attempt to email, call or even contact me with an update. My application/Interest rate is going to "expire" in 12 hours, at this point, I'm not feeling very comfortable taking a loan from these guys. I'm going to walk away.

Allen Dale McCasland
March 13th, 2017

John T is the reason for the 10 as well as the people that approve the loans. We'll done Freedom PLus.We. started application Thursday and loan was funded Friday. Wow,, you people are amazing

Kyle Freeman
February 14th, 2017 Mount Laurel, NJ

Almost a bait and switch. I applied they asked for supporting documentation for which I provided. Then on the day they were supposed to review the application I was told that it would be another few days. 2 days before my rate was going to expire I get 2 emails. The 1st one was sent to me in error with someone else's information. The 2nd email was asking for documentation for which I already provided. So I provided them with the requested information and submitted. I then get a text message saying congratulations, I was approved and to log in to finalize the details. When I then log in only to find out that I was declined. Overall their customer reps are very nice and helpful but the underwriting process is overall horrible. I would not suggest upstart based off of my own experience.

ThreeDogs Mama
August 16th, 2016 Houston, TX

Throughout the application process I was quoted an interest rate of 15.51%, which was fairly decent for what I was trying to accomplish. I was told three times during the verification call that my rate was solely contingent upon me verification of my education by the 12th, which was a Friday. I asked that representative three different ways and was assured that my rate was guaranteed if I submitted my documentation on time. The following Monday I was advised that my loan had been approved but that my interest rate had "expired". Not that anything hand changed or not been submitted on time, but "EXPIRED". They wanted me to accept this loan at 22.3% lol. Not on your life. I placed a follow up call upon receipt of these new (entirely unacceptable) terms I was told that "I had been misinformed", that they didn't have enough time to review the information before it expired, and that it was because my credit report had changed blah blah blah. This guy I talked to today was so wishy washy and kept changing his story, and was probably helpless to remedy the situation regardless. (I monitor my credit report and no it actually hadn't changed at all.) No they could not revert the interest rate back to the one I had been quoted through out. This is simply Bait and Switch. I am guessing that Upstart assumes people are desperate enough to take it at the 11th hour. Don't fall for it.

j r m
September 26th, 2016 Marlborough, MA

Difficult, unreasonable application information and docs requested. In the end, I got denied with a 725 credit rating. Don't bother not work it. I got a 20k lending club loan in one day with no docs and very little information provided. Easy peasy!!

July 20th, 2016 Midvale, UT

So I applied for a loan of $5000 and was pre-approved - even got all the emails saying I was pre-approved. It was at a rate of 14% or $161 a month... Which whatever. Fine. I send my documents that they requested and then they sent the official "you're approved" we'll deposit the $5000 in your bank as soon as tomorrow if you submit by 2pm pacific. So I do that. And then I had to sign the promissory sheet. Then the next screen says, sorry you've been denied as "since you've applied there was a credit hit"... Well yeah guess who hit it... You did! You approved me, hit my credit, then denied me. How freaking professional.

De'Neil Daley
June 23rd, 2016 Cleveland, OH

Hello, I just went through the process of getting a loan through upstart. I have a decent credit score, but was denied at other places because of my debt to income ratio (student loans are my only debt, I don't even have a car note). The process was easy, I got my money in a few days. They get an 8 because it says that there is no minimum amount, but I had to take out 6k instead of the 5k I wanted because apparently 6k is the minimum in my state. Also my interest rate is 17% with a credit score of 676 (that might be helpful to some of you). So I am paying $214.28 monthly for 3 years. I will be going through another source to basically refinance this loan for a lower interest rate, but the process for that is so much longer and I needed the money sooner. So all in all, it's fast and convenient, but interest rates aren't great and there may be a minimum amount required, also they take $360 from every loan they give so I got $5640 instead of $6,000 even.

Kepra McBrayer
April 21st, 2016 Nashville, TN

Poorly run. They advertise that they can approve you for a loan before affecting your credit. However even if you get preapproved and supply all the relevant accurate proof of information they can still deny you in the final step after they have already ruined your credit.

April 11th, 2016

I qualified for a great rate, found the proccess straightforward and simple, but once they discovered I was deployed overseas in the military (disclosed by me) but still with a home in the U.S., they stopped the proccess and revoked their approval. Wonderful thanks for keeping them safe.

March 29th, 2016 Henderson, NV

I originally applied for a loan with them last year for 6K and then I didn't need it, so I just stopped the process because I thought it was a little bit odd that they were asking for my bank information right away. I did a little more research when I came into a situation a year later and needed the money. I actually received a pre-approval form in the mail from them and thought why not. I am beginning my job as a substitute teacher where I am able to work every single day of the week, but the school district requires a minimum 4 days a month which is what upstart took as what my salary would be. So they denied me after basically going back and forth with me for 2 months, while we was waiting for my letter from the school district. I feel this is very shady and then when I realized that Mark Cuban was part of this, I was absolutely disappointed and realized this is just a money-making scheme. They are dishonest and you never get the same rep twice, yet, it's the same trail of email, just different reps names. They don't know how to do their business and they don't know how to calculate actual pay. Something tells me that their employees aren't educated themselves. Shame on them.

Rogue Eagle
March 21st, 2016 Loris, SC

After receiving several advertisements, I finally filled out the online rate quote form, since it said that they would only use the information I provided to determine a rate. Since it asked me for my credit score, and didn't ask for my SSN, I assumed it would be a harmless rate quote based solely on the information I provided. They then proceeded to run a credit check on me without warning. I was asking for a loan to pay off credit card debt, which is what they were advertising. They denied the loan saying that I wouldn't be able to make my obligations and pay their loan because my current obligations (the aforementioned credit card debt) were too high. So basically, before they would give me a loan to pay off my credit card debt, as advertised, I would have to first pay off my credit card debt. I would also like to point out that there is absolutely nothing negative, delinquent, late, or anything bad on my credit history. I have never made a late payment, or missed a payment. Their denial was based solely on the amount of credit card debt I have, which would have been completely paid off if they had given me the promised loan. I have no choice but to believe that this company is nothing more than a fraudulent front for a phishing scam.

March 21st, 2016 Morgan Hill, CA

I am very surprised by all of the positive reviews about this company on this website. I have applied and received loans and had positive experiences at multiple peer lending sites now since they began and I have had very frustrating experiences with this company each time I have applied. On each occasion I've started out with an offer that was not quite as attractive as what was being offered on other peer lending sites but attractive enough to tempt me to explore it and on each occasion the offer has been switched and replaced with something completely unattractive and a waste of my time to pursue after believing that I was about to be approved up until the last minute for the offer I had applied for in all of my interactions with the company. Also, this company seems to have a particularly difficult time dealing with self-employed professionals in terms of verifying income, even when the income is easily verifiable. If they don't want to write loans to the self-employed, it would be nice if they would respect our time and just say so up front instead of sending us on a wild good chase to provide more and more documentation and then telling us after preapproval and indicating by phone that our loan would be funded the next day that our credit is not good enough to write a loan after all. That is the type of experience that self-employed professionals run into applying for business loans with banks and the whole point of peer lending is to have a different experience. All in all, my personal experience with this company has been very negative and I am unlikely to give them another chance. I don't know if my experience has been different from all these other reviews because I am self-employed, but I have succeeded always in the past in getting exactly what I needed when I needed it from another peer lending site since they started making loans available, so other companies find me attractive to lend to.

February 25th, 2016 Union, NJ

Don't waste your time with this credit score is more than they're required limit..I apply for 3K got approved initially got an email need supporting a phone call for verifying process the rep said everything ok just need the supporting document after I hung up got an email I was denied because of income debt ratio..they didn't wait for me to submit my supporting document and they denied you just like that after I submit all my bank information and everything. I work on the highly first class restaurant making 35K plus cash tips a year..I applied 3k for3years they approved me for15% 105 a month.. If you add the math I can easily pay this loan coz I only owe less than1600 on my store and credit card..I just got my green card and want to establish credit history..I called and I ask why I got denied and they say because of income debt can you factor that when I didn't submit my supporting document you originally asked..totally bias and unprofessional..very bad experience..

January 6th, 2016 Newburgh, NY

Wow waste of time. I have a 70K salary, good credit score, stable employment and I was quoted an interest rate of 17%! Why would I bother???

December 21st, 2015 Andover, MA

DO NOT, FOR THE LOVE OF [WHOEVER] APPLY!!! They have your personal information, check your credit, and then tell you you can't afford the debt consolidation loan EVEN THOUGH I HAVE A PRE APPROVAL. These people are information seekers. The #10 ratings are fake ratings. trust me. Look for the low ratings and know those are the true ones.

November 25th, 2015 Houston, TX

I just applied for a loan, score of 690 with a Masters degree, salary near 100k, with moderate amount of savings and assets--given an 18% rate for 35k to payoff a student loan at 6.5%. Why on earth would I agree to that? The point of applying for this type of loan is to lower the interest rate, not multiply it times three!!

g b
November 17th, 2015 Modesto, CA

I found the personnel I dealt with to be ridiculously inept at what they were doing. They were unable to understand my pay period and paycheck date even tho this info is clearly indicated at the top of the paystub. I had to keep sending more and more information. I work for a major corporation (airline) and have for nearly 8years. I have not attended any school for at least 12 years yet after several days I was told that "unfortunately since they had to change my 'consolidation' request to a 'school loan' request my application could go no further". I have no idea where this came from---maybe from the 'phone verification' person who contacted me and sounded like she had no idea what she should be doing. I, as others have written, wondered if this Company is legit. Others have had good experiences tho-maybe just the luck of the draw in who ends up working on your request. I would not want to deal with these people again, a very frustrating experience.

November 3rd, 2015 Philadelphia, PA

it was absolutely a pleasure working with upstart. at fist, I thought it was too good to be true but it wasn't. my loan was approved within 48 hours and the money was in my account within a few days. thanks to upstart, I'm free of all my credit card debts and will be relatively debt free in 3 years.

November 2nd, 2015 Van Nuys, CA

They really take the time to understand your concerns and operate ethically. I had a need for an emergency loan and this company did everything in their power to get my loan approved same day, and it happened! My funds will be in my account by tomorrow and I couldn't be more grateful!!!! The stress that has been lifted off me is incredible. When I didn't know what to do - Upstart did... and they did it with joy and much compassion. I couldn't recommend enough!!!

October 16th, 2015 Montvale, NJ

I had a really good experience with Upstart. I feel as long as you don't lie on your application and have all the requirements, BA or MA, a good 3.5 or higher GPA, Permanent job, and a average credit score you should be good. I applied and the process took a day. Last year, i applied for Citibank and it was already 3 weeks and no answer. When they did answer it was 15% interest which i declined.

September 29th, 2015 Beallsville, MD

After dealing with an inept rep for a month, I finally gave up. They have all my personal info and I'm really worried about them being a legit company. Be wary of Identity Theft !!!!

Marie Turco
September 14th, 2015 Knoxville, TN

This was a HORRIBLE EXPERIENCE. I have excellent credit, a full-time job. I am a contract worker and they had NO idea how to process this --despite millions of people being contract workers. The manager admitted they didn't know how to process these. I sent paper after paper; it was never enough. They never told me one way or the other if I got the loan or not. GO THROUGH A LENDER THAT KNOWS WHAT THEY ARE DOING. Plus, the interest rate wasn't much less than I pay now. I have a Master's degree, good credit, a long work history. Their advertising ins FALSE.

joe ajrock
September 1st, 2015 Arvada, CO

After applying they could not read my pay stub and declined me based on debt to income. After speaking with someone at Upstart, they realized the mistake and told me to re apply. When I did they doubled my initial interest rate. Total bait and switch!!

August 31st, 2015 Gainesville, FL

There wasn't a great hassle to get my loan and I got it fairly quick.

August 27th, 2015 Chicago, IL

I have credit card debt that I would attribute to sheer stupidity on my part. I moved and put everything on my credit card (out of sight out of mind) and then when I finally had the courage to check what my debt was, I was drowning trying to pay it off living paycheck to paycheck essentially. I had reached out to various banks for loans but they would deny me because I didn't have history of loans (uh no shit), credit card companys for balance transfers but it was never enough to cover the full cost. Anyways, I found Upstart on a Facebook ad and I thought it was too good to be true. They do have an origination fee which the deduct from the overall loan and then interest charged that you pay off. The whole process took me four days total- I started on Friday and had the money by Tuesday. I knew I was initially approved within moments of submitting my information. The only tedious part was tracking down my documents (SAT Scores, Proof of Employment, College Transcript). Still worth the effort in my opinion. I would recommend this 1000x, they really do make me feel like more than my credit score.

August 27th, 2015 Belmont, CA

Incredible service, efficient and knowledgeable staff all the way. I was impressed with the initial pre-qualification and the personalized service given by Analyst Sarah as well as other colleagues who stepped in her absence such as Long. Overall I was impressed because there was some minor issue's with my credit report, and Upstart were very supportive in assisting me clear those so that everything was squared away, within minutes of the issue's being resolved, I got my loan within the next business day. This is a great company that value's work experience/education and current earnings to determine overall eligibility not just based on credit score.

Henry Gibson
August 27th, 2015 Anniston, AL

Upstart provides a much needed service for our generation! Many of us are graduating from college with debt to predatory credit card companies that we foolishly signed up for during our education. Upstart offered me a way of managing this debt and creating a solid plan for paying off my credit cards and getting my finances under control! Thank you to everyone who showed so much patience and even took time to make sure their offer was the most beneficial strategy FOR ME!