Universal Credit

You will know if Universal Credit approved you for a personal loan because you will receive an application decision via email. Universal Credit may approve you as soon as the same day you apply and you can check your loan status logging in to your account online in the meantime.

If you get approved, you should receive the funds as little as 1 day. Just keep in mind that approval for a Universal Credit loan is never guaranteed.

Key Information About Universal Credit Personal Loans

• Approval Timeline: Same day
• Approval Notification Method: Email
• Funding Timeline: As little as 1 day
• How to Check Application Status: Logging in to your account online
• APRs: 11.69% - 35.93%
• Loan Amounts: $1,000 - $50,000
• Repayment Periods: 36 or 60 months
• Origination Fee: 5.25% - 8.99%
• Credit Score Requirement: 580

For more information, check out the full Universal Credit personal loan review on WalletHub. Then, you can estimate your potential rates with our free pre-qualification tool.

You can check your Universal Credit loan status by logging in to your account online. When you check the status of your Universal Credit loan application, you will find out whether you have been approved or denied, or if the application is still pending. You may also learn that more information is needed from you before Universal Credit can make a final decision.

How to Check Your Universal Credit Loan Status

• Online: You can check your Universal Credit loan status by logging into your online account with your username and password. Universal Credit may send you an email with your login information, or you will have to create your own account.
• Over the phone: You can check the status of your Universal Credit loan by calling 877-418-9765 and speaking to a representative.

You can expect Universal Credit to make a decision as soon as one day after you submit your application or within a few days. For more information about Universal Credit, check out WalletHub's full review of Universal Credit personal loans. You can also estimate your potential rates by using our free pre-qualification tool.

An Universal Credit loan does help you build credit, as long as you make the monthly payments on time. If you do make payments on time, Universal Credit will relay positive information to all three major credit bureaus each month, which will improve your credit score.

You can try the free credit score simulator on WalletHub to get a better idea of how an Universal Credit loan might impact your credit-building efforts in particular. Just keep in mind that an Universal Credit loan can also hurt your credit. The company will perform a hard inquiry into your credit history when you apply, which will likely lower your score by about 5 - 10 points. Your score will also drop due to any payments that are 30+ days late, as well as the loan adding to your overall debt load.

Yes, Universal Credit is safe because Universal Credit has an “A+” rating from the Better Business Bureau, has been BBB-accredited since 2021 and WalletHub's editors also gave Universal Credit's personal loans a rating of 3.6/5 stars.

Reasons Why Universal Credit Is Safe

• It is a legitimate lender that is registered to provide loans in all states except D.C., IA, SC or WV.
• It receives an “A+” rating from the BBB.
• It has been BBB-accredited since 2021.
• WalletHub's editors gave 3.6/5 stars to Universal Credit's personal loans.
• The product terms and application requirements are clearly displayed on the company's website.
• Universal Credit's website and loan application are secure.

For more information, check out the full Universal Credit personal loan review on WalletHub. Then, you can estimate your potential rates with our free pre-qualification tool.

Universal Credit doesn't give instant approval, but they may approve you the same day you apply. If they need to verify any of your information, the approval process may take a little longer, but you can expect to get the funds within 1 business day after you're approved and you accept the offer.

Key Things to Know About Universal Credit Personal Loan Approval

• Minimum credit score: 580
• Minimum income: not disclosed
• Approval timeline: Same day
• Funding timeline: 1 business day after approval
• Age requirement: At least 18 years old (19 in Alabama)
• Citizenship requirement: U.S. citizen or permanent resident, or living in the U.S. with a valid visa
• Residency requirement: Not available in D.C., IA, SC or WV

For more information, check out the full Universal Credit personal loan review on WalletHub. Then, you can estimate your potential rates with our free pre-qualification tool.