The LendUp Personal Loan may no longer be available to new applicants or we may no longer be able to obtain complete information related to this offer.
LendUp Loan Review
LendUp offers two types of loans: single-payment loans and installment loans. Both are almost unbelievably expensive and provide very little funding. As a result, LendUp currently does business in just 8 states: CA, LA, MS, MO, SC, TN, TX and WI. Many states prohibit the types of high rates that LendUp charges.
LendUp single-payment loans charge a one-time fee that’s equivalent to an APR between 214.13% and 917.71%. These loans, which range between $100 and $255, must be paid back in 7 to 30 days.
Installment loans from LendUp provide $100 - $1,000 to borrowers, to be paid off over 1 to 6 months. Their APRs range from 32.08% to 71.07%. In general, these loans do not have an origination fee, but Texas has a one-time “Credit Access Business fee.”
It’s not a good idea to apply with LendUp, even if you have bad credit. You’ll be able to get more reasonable rates elsewhere.
LendUp Loan Review Highlights
- Single-payment loan APR: 214.13% - 913.71%.
- Single-payment loan length: 7 - 30 days
- Single-payment loan size: $100 - $255
- Installment loan APR: 32.08% - 71.07%
- Installment loan length: 1 - 6 months
- Installment loan size: $100 - $1,000
- Origination fee: $0
- Pre-qualification: Not offered, but no credit check for application
- Requirements: SSN, U.S. citizen/permanent resident/immigration-visa holder, 18+ years old, U.S. checking account.
- Customer satisfaction: LendUp has an A+ rating from the Better Business Bureau but is not accredited. The Consumer Financial Protection Bureau has catalogued over 70 complaints about LendUp loans.
Because of LendUp’s high APRs and fees, combined with the limited availability of their loans, they don’t score particularly well. Below, you can see how WalletHub rates these loans in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.
LendUp Ratings by Category
Terms: 0.8 / 5
Requirements & Application: 3.5 / 5
Reviews & Transparency: 4.8 / 5
Overall Score: 9.1 /1 5
These scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
