LendUp Personal Loans Review [2021]

LendUp specialized in providing short-term loans to borrowers who lack good credit.
Our Rating
Credit Karma

Installment Loan Facts

30% to 180%
Minimum Credit Score
Loan Amount
$100 to $600
Minimum Age
18 Years
Loan Term
1 month to 6 months
Time to Funding
1 Day
Origination Fees
Varies by State
Hard Credit Check

Pros and Cons

  • No Credit Check
  • Extended Payment Options
  • For single-installment loans, a 30-day payment extension without a late fee
  • Select Your Repayment Date
  • Credit bureau payment reporting
  • High-interest rates
  • Even at their highest levels, Platinum and Prime, you can be paying APRs of up to 200%, which is still extremely high
  • Loans are not available in all states
  • Low loan amounts

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Industry Average
$100 to $600
$500 to $5,000
30% to 180%
79% to 299%
Origination Fee
Varies by State
1% to 3%
Minimum Credit Score
Time to Funding
1 Day
1 Day
Hard Credit Check

What Kinds of Loans Does LendUp Offer?

LendUp provides small loans to borrowers with less-than-perfect credit. The company offers short-term fixed-rate loans that you can pay back in 7 to 30 days, ranging roughly from $100 to $250.

Depending on the rules of the state you live in, LendUp also offers single-installment loans that range from $500 to $1,000. These loans are payable in 6 to 12 months.

There are three tiers of loans offered by LendUp:

  • Single-payment loans
  • Installment loans with prime rates below 36%
  • Installment loans with subprime rates above 36%

Loans that are below 36% are called Prime loans, while the loans with rates above 36% are broken down into three categories: Silver, Gold, and Platinum.

LendUp uses a ladder system to both determine lending rates and to help repeat customers work on their financial health. The ladder starts at Silver, which has the highest interest rates. If you start at the lowest rung, you can then move on to Gold, Platinum, and finally, Prime, which is the top tier and has the best interest rates. Customers are able to climb the ladder by paying off their loans, taking educational courses, and more.

In some states, when you reach the Platinum and Prime levels, payments are reported to the three major credit bureaus, providing you with a chance to improve your credit score.

LendUp Personal Loans: Terms and Rates


A big part of loans is the interest rates that are tied to them. Loans through LendUp have an average APR of between 30% and 180%, which can translate to a substantial amount due over time.

LendUp does offer an extension of single-payment loans up to $250 for 30 days without penalty for those who cannot repay in time. However, extensions are not available for payments of over $1,000 or for installment loans.


LendUp allows borrowers to select a payment plan that works for their budget. Terms can be as short as 14 days for single-payment loans, or up to 12 months for monthly installments.


LendUp charges an origination fee, though the actual amount is dependent on the state the borrower lives in. LendUp loans also come with a verification fee of up to $5.

Borrowers utilizing automatic payments will be charged a fee of $15 if their accounts do not have sufficient funds to make the transaction on the loan due date.

LendUp also charges fees for paying back loans before the end of the stated loan term, or for making payments through MoneyGram.

See The Best Personal Loans with No Origination Fee

LendUp Loan Requirements


Because LendUp specializes in providing loans to those lacking good credit, the company does not run a credit check on potential borrowers, meaning that your credit score won’t be affected if you choose to apply. The application process is simple, and the form can be filled out online.

The only requirements you need to qualify are:

  • Over 18 years of age
  • Valid address
  • Valid phone number
  • A checking account that accepts ACH transfers
  • Proof of income (only required by certain states)
  • Living in a state that is LendUp approved
  • LendUp operates in California, Louisiana, Mississippi, Missouri, Tennessee, Texas, and Wisconsin.

According to LendUp, these additional factors, though not required, may help your chance of being approved for a loan:

  • A credit score of around 550
  • An annual income of $40,000 t0 $45,000 per year
  • Debt-to-income ratio of 58%

Loan Funding

Once approved, the money is delivered directly from LendUp, usually arriving in customers’ accounts by the next business day. Because LendUp doesn’t involve any middlemen or financial institutions in the transfer process, your personal information isn’t shared with multiple sources.

Borrowers can receive the funds in both single-payment or installments in the case of very low credit.


To repay your loan, you can set-up automatic repayments from a checking account or pay manually through MoneyGram.

The LendUp Ladder

The LendUp Ladder is a rewards points system for borrowers who complete on-time payments. Borrowers climb Silver, Gold, Platinum, and Prime tiers as payments are made on time. Higher ladder tiers result in higher loan amounts and optional reporting to the credit bureaus, which can boost your credit score.

For more information, see LendUp’s page for the LendUp Ladder.

The LendUp Customer Experience

Customer Service





Online Support:

LendUp offers customer support through the online platform here. You can also browse the company’s Frequently Asked Questions for answers to common questions about their services or your loans.

Mailing Address:

1750 Broadway, Suite 300 Oakland, CA 94612

The ability to apply for and manage your loan is easily accessible through LendUp’s online platform and mobile app. Their platform is secure, so you can not only check your status but also upload documents with personal information, such as proof of income. You can also make payments manually online if you so choose.

Customer Reviews and Reports

LendUp is not accredited by the Better Business Bureau, but the lender has been given a BBB rating of A+. On TrustPilot, LendUp has an “Excellent” 5-star rating, with over 96% of reviewers rating the company as “Excellent” or “Great.” Reviews on the BBB website are less positive, with an average of 2 stars from 33 reviews.

Customers offer mixed reviews of LendUp’s platform and customer service. While some report that the entire process was seamless, others complained of technical glitches that the company was slow to fix. Customer service complaints tend to point to communication issues when contacting the company. Reviewers note that it can be difficult to reach a LendUp agent when calling on the phone. Emailing isn’t always an option either, as it’s been reported that the company can be slow to respond.

The rest of the negative reviews surround a few technical problems with the website. Users have complained that information isn’t always updated quickly, so the information regarding repaid loans isn’t accurate. Another issue cited is that LendUp has, on occasion, accidentally debited an account twice for a single payment.


LendUp can be a good solution if you’re struggling with credit and facing an emergency that requires some quick cash. The company offers a secure way to receive money and can be beneficial if you’re in a tight spot. The financial incentives for paying back loans promptly also make LendUp a good option for many borrowers. However, due to the high-interest rates that come with LendUp loans, potential borrowers should shop around before making a final decision.

LendUp is not ideal for debt consolidation, people with good credit, or those who can apply for a credit card instead.

About the Company

Founded in 2012 in Oakland, CA, LendUp was created to combat the difficulties many Americans face due to “subprime” credit. Their vision for their customers is “universal access to credit that expands over time. We don’t require good credit; instead, we seek to create a path to it.”

LendUp is a self-proclaimed socially responsible lender, providing short-term loans to those who cannot access funds from other institutions based on their credit score. Their belief is that consumers in need of credit shouldn’t be limited by fluctuating incomes or low credit scores. To even the playing field, LendUp offers access to loans without any hidden fees, credit cards without debt traps, affordable ways to build credit, and access to financial tools and credit education to help borrowers better manage future financial plans.

In many ways, LendUp works like a payday loan, as many of the company’s regulations are set by state laws. However, LendUp differentiates itself from other payday lenders because the company also works to help customers improve their financial situation. Borrowers can earn points through the LendUp Ladder, and the more points earned, the better rates borrowers receive. Points can also be earned by taking financial education courses provided by LendUp, referring a friend, and paying off a loan. This review will take an in-depth look into LendUp personal loans, from the types of loans they provide to the experiences that customers have had with the platform.