Upstart is an online lending platform that partners with banks to issue personal loans. Here are some of the main strengths and weaknesses of personal loans through Upstart:
Pros:
No credit score requirement
Fast funding time: As soon as 1 business day
Large loan amounts: $1,000 - $75,000
3.7/5 average rating among users on WalletHub
Cons:
APRs of 6.6% - 35.99%
Late fee of 5% ($15 min.)
Not available without an SSN
You can learn more from WalletHub’s full editor’s review of Upstart, as well the Upstart reviews from users below. ... show more
Compare Personal Loan Rates from WalletHub Partners
Excellent Credit
Excellent Credit
Good Credit
Fair Credit
Bad Credit
No Credit/Limited History
$500
$500
$1,000
$3,000
$5,000
$10,000
$25,000
Upstart Reviews
The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. The rating was last updated on 11/13/2025.
Upstart is an online lending platform that partners with banks to offer personal loans of $1,000 - $75,000. These loans are best for people with fair-to-good credit, who can take advantage of APRs that are typically 6.6% - 35.99% and who may not have to pay an origination fee. Upstart does not have a credit score requirement, but if you have bad credit, you won’t qualify for the lowest rates.
There are a few other things you’ll need to qualify for a personal loan through Upstart. You’ll reportedly need to earn an income of $12,000 or more per year, be at least 18 years old, reside in one of the 50 U.S. states, have a Social Security number and have a verifiable bank account.
Upstart Powered Loans Review Highlights:
Interest rates: 6.6% - 35.99%
Loan sizes: $1,000 - $75,000
Loan timelines: 36 months or 60 months
Origination fee: 0% - 15%
Upstart loan requirements: $12,000 annual income, 18+ years old, SSN, bank account, no bankruptcies or public records on your credit report, and no accounts currently in collections or delinquent.
Pre-qualification: You can check for pre-qualification on Upstart’s website without damaging your credit score. You may also want to use WalletHub’s free pre-qualification tool to pre-qualify with multiple companies at once.
Co-signer policy: You’ll have to go to another company if you want to apply together with someone else.
Late fee: 5% ($15 min.) of the payment amount, whichever is greater. However, you will only be charged this fee after a 10-day grace period.
Approval timeline: Most applicants receive a decision instantly.
Funding timeline: You may receive the money as soon as one business day after you’re approved.
Reputation: Upstart has earned an A+ rating from the Better Business Bureau and has very few Consumer Financial Protection Bureau complaints, compared to other companies.
Overall, personal loans through Upstart typically offer the chance for low APRs, and they’re more accessible than the average personal loan. While other companies could be better options, Upstart is a solid choice. Below, you can see how WalletHub rates personal loans through Upstart in our three key categories: Terms, Requirements & Application, and Reviews & Transparency.
Upstart Ratings by Category:
Category
Editor’s Rating
Terms
3.3/5
Requirements & Application
3.5/5
Reviews & Transparency
3.3/5
Overall Score
10.1/15
These scores reflect how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
The full range of available rates varies by state. A representative example of payment terms for an unsecured Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 19.60% and a 6.90% origination fee of $690, for an APR of 23.22%. In this example, the borrower will receive $9310 and will make 60 monthly payments of $264. APR is calculated based on 5-year rates offered in March 2025. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000).
When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.
The majority of borrowers on the Upstart marketplace are able to receive an instant decision upon submitting a completed application, without providing additional supporting documents, however final approval is conditioned upon passing the hard credit inquiry. Loan processing may be subject to longer wait times if additional documentation is required for review.
If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. When the funds will be available to you will depend on your bank’s transaction processing time and policies.
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steve hall @kirkduane1954
interest to high. They wanted over 33% for small personal loan. Others was around 15%. So obviously I used another lender
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Upstart
Gary Kulhanek @gkulhanek
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1 Star Rating
I have used Upstart in the past with good results, but recently when I applied, their lack of response caused my application to expire. They indicated that I could reapply in 28 days—it was their fault that it expired. I won't be reapplying ever!
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Product: Upstart Personal Loans
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Upstart
Tanya Gassel @tanyagwrg43
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1 Star Rating
They falsely advertised that someone can get a loan with a low credit score. They are a scam; you can't get a loan with good credit at all.
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Product: Upstart Personal Loans
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Upstart
trina kimberlin @kristy7673
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1 Star Rating
I literally did the no credit hit inquiry for debt consolidation. They offered a personal loan with higher interest than my credit cards, over 30%. Outrageous. This is only for desperate people, and that is sad.
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Product: Upstart Personal Loans
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Upstart
Faith James @faithliljames
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5 Star Rating
Verified Customer
This was one of my first loan sites, and it was really easy to navigate and use. Payments and billing are set up very easily, and reminders are sent to any preferred method.
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Product: Upstart Personal Loans
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Upstart
Von Johnson @lavonder_curtis
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2 Star Rating
I appreciate Upstart Loan Company for helping me when I truly needed assistance, and I was able to successfully pay off my 3-year loan with them. However, I find it concerning that they now ask applicants to record a video explaining why they need the money, how they will spend it, and then upload a personal ID, driver's license, and even a school transcript.
Good luck with that one, Upstart — you are not the only loan company around. Apply at your own risk.
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Product: Upstart Personal Loans
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Upstart
Wilena McCarter @wsmccarter
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1 Star Rating
Verified Customer
Upstart uses an AI platform that may deny an application due to a disqualifying event after initial pre-approval, which provides misleading information to the consumer. I would not suggest anyone use Upstart.
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Product: Upstart Personal Loans
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Irene Kahan @phyllkah
I absolutely agree. I was in the process of finalizing [HITTING THE LAST SUBMIT BUTTON] for the loan they approved and instead of getting a -- "COMPLETED" email -- all of a sudden they say I have to send them an adverse notice from another lender within seven days. Very unclear instructions on how to do this correctly. I exhausted myself, getting what they wanted. My submission checked every box they listed. Called on the phone also because it was the seventh day. Phone customer service person was very nice, but then the credit people kept me holding about a half hour and then rejected me, even though the reason was entirely incorrect. They wanted the date I applied for the other company's loan and it was right on the letter. THIS IS A NO GOOD COMPANY AND REMEMBER THEY WENT BROKE A COUPLE OF YEARS AGO AND NOW ARE TRYING TO REORGANIZE. At the end of this phone call, I told the cs operator that they like to TORTURE people. NO WAY TO DO BUSINESS. MY ADVICE IS -- STAY AWAY!
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cgarrett713 @cgarrett713
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1 Star Rating
DON'T WASTE YOUR TIME. You WILL NOT get approved. I wish I could give a zero-star rating. I applied before and got denied... then, after getting a promotion with a lot more income, they still denied me. The loan was to cover an unexpected car repair.
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Product: Upstart Personal Loans
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Upstart
anon one @anonymousone0
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1 Star Rating
Called and received a full payoff amount from their representative, transferred the loan balance to a new credit card with my bank and was told I was all set, no more payments or concerns from Upstart. A few weeks later, I received notices saying I still owed a balance. I called and explained everything, asked for a manager or supervisor who was somehow never available and always had to call me back but never did. They would not honor what was promised to me, and I asked for the call to be reviewed, which never happened. Just a terrible experience overall, and you should think again before signing with this company.
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Product: Upstart Personal Loans
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Upstart
Edward Davidson @knightnsd
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1 Star Rating
Usury rates; avoid this company and others like them. They are about useless and charge criminal rates, even for high-asset and net-worth individuals. They offered a 35% loan for $9,000 as we were trying to finance the small balance on a lot behind our home in Hawaii. Use LightStream instead; they offer 1/3 the interest for the $40,000 difference we needed on the lot behind our house, or consider a HELOC, as Upstart only digs you into a giant financial hole.
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Product: Upstart Personal Loans
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Upstart
noah_mendez121 @noah_mendez121
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1 Star Rating
After over 17 months of consistent on-time payments, I contacted Upstart/FFBKC with a goodwill request. I wasn't disputing my past mistakes; I acknowledged them fully. I simply offered to pay off my remaining balance in full, including an additional $1,000+++, in exchange for a one-time adjustment to remove late payments that occurred during a period of hardship.
Instead of a thoughtful response, I received form replies citing "policy." No human engagement. No discretion. Just a flat "no." Even when I followed up, appealed to leadership, and mailed a handwritten letter, I got the same robotic message.
What's more frustrating is that my offer would have benefited both parties. It wasn't a request to erase history, but to reconcile growth and progress with a company that claims to support financial empowerment.
This experience has not only affected my credit; it's shown me how rigid and impersonal this company really is when it comes to real people trying to rebuild. I hope this review helps others know what to expect.
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Product: Upstart Personal Loans
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Upstart
tiffany saltzer @fun24tiger
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1 Star Rating
I need a repossession letter with an appropriate heading, my first and last name, the year, make, and model of the vehicle, the vehicle identification number (VIN), and the date it was repossessed from my possession. The letter also needs to be signed. They refuse to sign the letter. I don't understand the problem—the DMV requires it so I can renew my registration on my other car, and Upstart has been uncooperative since November, refusing to provide me with the documentation that the DMV indicated I should have initially received. They are the most difficult company I have ever dealt with.
Then I sent them an email and they replied:
"Hi,
Thank you for reaching out. We would be happy to assist you with your inquiry, but we do not recognize this email address as being associated with an existing account.
For security purposes, please contact us using the email address associated with your account. If it is more convenient, you can call us at (855) 451-6753."
It seems as though they removed my email address from their system. Their unprofessional behavior is both disrespectful and disappointing. I hope no one else obtains loans through them. The experience is stressful and their actions seem deceptive, as if they are involved in underhanded dealings. They sold the car at an auction and then added the amount they sold it for back onto my outstanding balance. Their activities are questionable and concerning. I believe consumers should be cautious. To those using their services, be vigilant and keep a close eye on your assets.
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Product: Upstart Personal Loans
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Upstart
Rocio81843 @Rocio81843
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1 Star Rating
Do your research, I am sure there are other companies out there that charge less interest and fewer fees. I got a 5-year loan from Upstart for $14,200. Their fee was automatically $2,000, which brought my balance to $16,200 to start with, then I had a 29.9% interest rate. To give you an idea, I paid off the loan in 12 months, not because I could afford it but because if I didn't, I would have paid about $23,000 in just interest over a 5-year period. Every month I was sending a $1,750 payment. I ended up paying $21,000 on a $14,200 loan, but I saved $18,400 in interest by not just paying the minimum payment for 5 years. Please look elsewhere for loans!
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Product: Upstart Personal Loans
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Upstart
Andrew Bernstein @ahbernstein
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1 Star Rating
I applied for a HELOC with Upstart and provided detailed income documentation, yet they underreported my earnings by nearly 50% and subsequently denied my application. Their review process spanned six weeks, which was extensive compared to a competitor that approved me in hours, costing me thousands in higher interest and project delays. Communication was virtually nonexistent, and I was never given the chance to correct the error. Based on this experience, I wouldn’t recommend Upstart.
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Product: Upstart Personal Loans
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Upstart
just_neecy @just_neecy
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1 Star Rating
Run far away from this poor company. They charged my banking account twice when I scheduled my payment for 5 days out from its due date, and they still charged me twice! I called about it first thing in the morning, and at the end of the day—keep in mind, this is a holiday weekend—they sent me an email stating that they can't give me my refund for their mistake! So of course, by the time I get back, nobody is in the office. I will be leaving reviews everywhere to warn people not to trust these people because they don't take their time to correct their mistakes, with their high interests, which are higher than what they offer! Save yourself the headaches and lies that these people tell you. Oh, and don't let me forget that on the day it was originally due, which I updated for, comes a $15 fee because there wasn't anything in the account—of course, because that's why I changed the date to when I would get paid. The young lady said that she would get the $15 fee waived, and of course, they don't because they're liars and don't take accountability for their mistakes. These positive reviews are FAKE and not to be trusted
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Product: Upstart Personal Loans
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Upstart Q&A(55 questions)
Get answers to your questions about Upstart below. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered. Ad Disclosure
Upstart can be trusted because the company has an A+ rating from the Better Business Bureau and has been BBB-accredited since 2015. Upstart also has an average rating of 4.0/5 from users on WalletHub, and the personal loans available through the company have a rating of 3.4/5 from WalletHub's editors.
Why Upstart Is Trustworthy
Upstart has an A+ rating from the Better Business Bureau.
Upstart has been BBB-accredited since 2015.
Upstart is registered as a business in the states it services.
Upstart has an average user rating of 4.0/5 on WalletHub.
WalletHub's editors gave the personal loans available through Upstart a 3.4/5 rating.
The company lists product terms and conditions clearly on its website.
To read more, check out the full Upstart review on WalletHub.
Yes, Upstart will have to check your bank account after you submit your rate inquiry, which is an initial request for an APR estimate before you apply for the loan. Upstart verifies your bank account to confirm your identity, income and debt obligations so they can ensure the accuracy of your loan application.
To this end, you'll have to provide login credentials for the bank account listed on your application.
A loan through Upstart is a good idea if you need to borrow $1,000 - $75,000 with funding as soon as the next day after approval and you have a low credit score or limited credit history. Also, you can use a personal loan through Upstart for almost anything, from debt consolidation to large purchases. Upstart is a good company because it partners with banks to offer large loan amounts, long repayment periods, and typically low APRs.
The catch with Upstart is that you may have to pay a high origination fee before your funds are delivered. You will also be subject to a late fee of 5% ($15 min.) if your loan payment is past due, and you will have to pay a $10 fee if you need to request a physical copy of your loan agreement.
On a positive note, personal loans through Upstart have some of the lowest rates on...
A personal loan through Upstart is not hard to get approved for since there is no credit score requirement. However, you will need an annual income of at least $12,000, a valid bank account, and no bankruptcies or public records on your credit report to qualify. Approval by Upstart also is never guaranteed, even if you meet all the requirements.
Yes, you can pay off a loan through Upstart early, and doing so is a smart idea because it will save you money on interest. There is no prepayment penalty on a personal loan through Upstart, meaning that you will not be charged extra if you pay off the loan sooner than you're required to.
Example of How Much You Can Save By Paying Off a Loan Through Upstart Early
Yes, Upstart is legit because it has an A+ rating from the Better Business Bureau and it has been BBB-accredited since 2015. Upstart personal loans received a rating of 3.5/5 from WalletHub's editors because they offer fairly high amounts for borrowers with credit scores as low as 300.
Why Personal Loans Through Upstart Are Legit
Upstart is registered as a business in the states it services.
Upstart's requirements include being at least 18 years old (19 in NE and AL), having an annual income of at least $12,000, and having no bankruptcies or public records on your credit report. You will also need to have a verifiable bank account to qualify for a personal loan through Upstart.
Upstart Requirements for Borrowers
Credit Score: None
Income: $12,000 annual income from sources like a job, a job offer, disability...
Your Upstart approval odds are good if you meet the minimum requirements to get a loan. Some requirements include being at least 18 years old (or 19 in NE and AL), having an annual income of at least $12,000, and having no bankruptcies or public records on your credit report. If you meet all the requirements, your approval odds are high, but approval is never guaranteed.
Upstart works by partnering with banks to provide personal loan offers to qualified applicants. You can check your rates on Upstart's website without hurting your credit score, then officially apply for a loan and get your funds as fast as one business day later.
How Upstart Works
You check your rates on Upstart's website. Checking your rate through Upstart before you officially apply will not hurt your credit score. This can take...
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