Is Upstart legit?

You can get pre-approved for a personal loan through Upstart without hurting your credit score on the company’s website. Upstart pre-approval allows you to see your odds of approval for a personal loan, as well as your potential rate.

How to Get Pre-Approval for a Personal Loan Through Upstart

1. Go to the Upstart … read full answerwebsite.
2. Click on CHECK YOUR RATE.
3. Enter the loan amount, loan purpose, your name, date of birth, home address, email address, phone number, and more.
4. Click NEXT and follow the prompts until the end of the form.

Once you receive your Upstart pre-approval status, you can choose whether or not to actually submit an application. Getting pre-approved does not mean you’re guaranteed to be approved if you apply, but your approval odds will be very high.

If you want to consider more options first, you can try out WalletHub’s free personal loan pre-approval tool, which checks for pre-approval with multiple personal loan providers at the same time.

When you check your rate, Upstart will check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, Upstart will do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information will be reported to the credit bureaus.

Applicants do not need to have a credit score to get a personal loan through Upstart, according to the company. Upstart’s underwriting model uses machine learning to consider factors like education, employment and credit score, if the applicant has one, to approve applicants. Even if you have a credit score as low as 300, you could still be approved. To put this in perspective, most other companies require applicants to have a credit score between 580 and 700, on top of other qualifications.… read full answer

If you're unsure what your current credit score is, you can check your score for free on WalletHub. You can also pre-qualify for a personal loan from an Upstart-powered lender online to gauge your chances of getting approved with your current credit score. Pre-qualifying won’t impact your credit score.

Although educational information is collected as part of Upstart's rate check process, neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan

When you check your rate, Upstart will check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, Upstart will do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information will be reported to the credit bureaus.

It takes as little as one business day to get money from a personal loan through Upstart, according to the company. Additionally, most applicants are instantly approved, but there will be a hard credit inquiry performed for final approval. Keep in mind that this is a typical applicant's experience and in some cases it could take longer.… read full answer

How to Get Money From Upstart as Fast as Possible

• Fill out the application carefully. You should make sure that all information you enter on the application is correct and complete. That will eliminate any potential delays from Upstart having to request additional information.
• Check your credit report for errors. Before you apply, you should verify that everything on your credit report is accurate, as any incorrect negatives on there could impact your chances of approval. If you find any errors, you should dispute them right away to get them removed.
• Raise your credit score. There is no minimum credit score requirement to get a personal loan through Upstart. Having a high credit score will make it easier for the company to decide if you qualify and what your rates may be, though.

Once you get approved for a personal loan through Upstart, the money will be delivered through an electronic funds transfer to your bank account.

If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

The majority of borrowers on the Upstart platform are able to complete the application process automatically without providing additional supporting documents. Final approval is conditioned upon passing the hard credit inquiry.