Are Upstart loans legitimate?

Upstart is a legitimate company that’s been in business since 2012. It uses artificial intelligence to match lenders to banks and credit unions for a variety of loan types. Upstart has a 4.9-star customer rating from Trustpilot and an A+ rating from the BBB. However, customer reviews on the BBB website give Upstart 1.23 stars out of 5.

Is it hard to get a loan through Upstart?

If you meet the qualifications (such as having a DTI no higher than 50%, no active delinquencies or recent bankruptcies, and steady, verifiable income), it can be easier to get a loan through Upstart.

What credit score do you need for an Upstart loan?

Upstart has no minimum credit score to qualify. Since Upstart matches borrowers with banks and credit unions, the credit score minimum depends on the lender.

What are the downsides of an Upstart loan?

The downsides of an Upstart loan are the high interest rates and fees: The origination fee can be as much as 12% of the loan amount, while the APR could be as high as 35.99%.

How quickly can I receive a loan from Upstart?

Your loan can be funded the next business day if you accept the offer before 5 p.m. EST Monday through Friday. If you accept after 5 p.m. or during the weekend, you’ll have to wait one extra business day.

Upstart Personal Loans Review: December 2024

Upstart offers fast loans, but often with high rates

By Laura Agadoni

Written by

Laura Agadoni

Writer, Fox Money

Laura Agadoni has spent more than 10 years covering finance and has bylines at The Motley Fool, USA Today, and Yahoo Finance.

Edited by Reina Marszalek

Written by

Reina Marszalek

Senior editor, Credible

Reina Marszalek has over 10 years of experience in personal finance and is a senior mortgage editor at Credible.

Reviewed by Meredith Mangan

Written by

Meredith Mangan

Senior editor, Fox Money

Meredith Mangan is a senior editor at Fox Money and expert on personal loans.

Updated December 12, 2024

Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.”

Advertiser Disclosure

Best fast personal loans for all credit types

Upstart

3.9

Credible Rating

Check Rates

on Credible’s website

Est. APR

7.80 - 35.99%

Loan Amount

$1,000 to $50,000

Min. Credit Score

620

Pros and cons

May fund in 1 business day

No minimum credit score req