Upstart Review
Upstart
Upstart Network, Inc.
APR Range 7.8% - 35.99%
Loan Amount
$1,000 - $50,000
Term Length 36 - 60 months
Loan Type personal
Pros
- ✓ Lowest starting APR in our roundup
- ✓ Considers education and job history, not just credit score
- ✓ Same-day funding available in many states
- ✓ Borrowers with thin credit files often qualify
Cons
- ✗ Origination fees up to 12% — read the APR carefully
- ✗ Not available to residents of West Virginia or Iowa
- ✗ High maximum APR for higher-risk borrowers
Why we picked Upstart
Upstart’s underwriting model uses education, employment, and other non-traditional signals alongside credit score. For borrowers with thin credit files — recent graduates, career changers, people emerging from credit recovery — that often translates to approvals where traditional lenders say no, sometimes at meaningfully lower APRs.
Best for
- Borrowers consolidating high-interest credit card debt
- Fair-credit applicants (FICO 580+) who get bounced by traditional banks
- Anyone wanting a longer fixed term (3-5 years) instead of revolving credit
Watch out for
The all-in cost matters more than the headline APR — Upstart’s origination fee can add 1-12% to the principal. A 12% origination on a $10,000 loan is $1,200 effectively rolled into your balance. Always compare the APR (which includes fees) not the interest rate alone.
Requirements
- At least 18 (19 in some states)
- US citizen or permanent resident
- Valid bank account
- Verifiable income or job offer starting within 6 months