Loans

Upstart personal loan full review

If you need a loan to pay some kind of debt or to refinance your car, the Upstart personal loan platform can be great for you. So, keep reading our full review to know more!

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by Victória Lourenço

10/01/2021 | Updated on 10/25/2021

Upstart personal loan

Find out more about Upstart personal loan in our full review! Source: Upstart
Find out more about Upstart personal loan in our full review! Source: Upstart

If you need to make a loan to pay for your credit card debt, refinance your car, or consolidate any kind of other debt, the Upstart personal loan can be great for you! This loan platform has a different type of credit analysis when compared to traditional lenders. Also, you can get a fast loan even if you do not have a very high credit score.

So, if you want to know more about Upstart, keep reading our full review!

How to apply for the Upstart personal loan?

Are you looking for a good online personal loan platform? If so, Upstart loan can be a good choice. So, read more to know how to apply!

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How does the Upstart loan work?

Check out how this platform works! Source: Gettyimages
Check out how this platform works! Source: Gettyimages

If you need to make a loan to pay your credit card debt, refinance your car or house, consolidate some other kind of debt, or related purposes, you can apply for a loan. So, you can check your rate and fastly get your loan.

Upstart personal loan benefits

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Pros

  • You can get a relatively fast loan with this platform.
  • This lender does not charge for a prepayment penalty.
  • You can get loan funds as fast as one or two days from your loan application.
  • This lender does not require a hard credit inquiry to analyze your loan applications. This can be a good thing if you do not have a high credit score.

Cons

  • This platform can have some lenders that use it and charge for origination fees that can range from 0% to 8% of the amount of the loan.
  • Even though this platform has great AI, it does not offer a mobile app for users to manage their loans.
  • This platform does not offer the option to add a co-signer or co-borrower.
  • There is only the offer of unsecured loans.

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Should you apply for the Upstart personal loan?

See if you should apply for a loan on this platform. Source: Gettyimages
See if you should apply for a loan on this platform. Source: Gettyimages

If you can pay for some of the origination fees that some lenders might charge on this platform, you can think about applying for a loan. Also, if you fit the requirements for the application, such as the minimum gross income of at least $12,000, regular income, United States address, and others.

However, if you want to get a loan from a personal loan platform that offers the option of managing your loans through an app, maybe you should look for other platforms. Also, if you are looking for a loan option that needs a co-signer, co-borrower, or other related, maybe this is not the best loan platform for you.

Can anyone apply for a loan at Upstart?

People with really bad credit might not be able to apply for some loans. However, this lender platform can accept people with poor scores or fair scores. Also, you can only apply if you are a resident in the United States, except for some states. So, be sure to check out the application rules at Upstart’s website before trying to apply.

How to apply for an Upstart loan?

It can be easy to apply for a loan with this personal loan platform. You can do it all online, and there is no hard credit inquiry. So, if you want to know how to apply for a loan on this platform, read our post below and find out!

How to apply for Upstart personal loan?

Are you looking for a good online personal loan platform? If so, Upstart loan can be a good choice. So, read more to know how to apply!

About the author

Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by

Aline Barbosa

Senior Editor

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