Universal Credit

Universal Credit

Universal Credit
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About Universal Credit

Universal Credit is an online lending platform that offers personal loans and debt consolidation loans up to $50,000. Checking your rate doesn’t impact your credit score, and if you’re approved you can get funds in your account in as little as one business day. Rates from Universal Credit are fixed, so your monthly payment doesn’t change. Loan terms range from 36 to 60 months.


  • Fast loan funding
  • Up to five-year terms
  • No prepayment penalty
  • Free credit monitoring


  • Origination fee up to 8.99%
  • No in-person service

Bottom Line

Universal Credit offers personal loans and debt consolidation loans throughout the U.S. You can borrow from $1,000 to $50,000 and make fixed payments over 36 to 60 months. Check your offers with no effect on your credit score.

What is Universal Credit?

Universal Credit is an online lending platform that partners with banks and other financial institutions to offer personal loans and debt consolidation loans. You can use a Universal Credit personal loan for nearly anything, while a debt consolidation loan is useful for combining multiple high-interest debts into a single monthly payment.

Universal Credit loans are available in amounts from $1,000 to $50,000 and include fixed rates and monthly repayment terms of three to five years. The company is part of the financial technology firm Upgrade, which is based in San Francisco and has been in business since 2017.

How does Universal Credit work?

You can check offers for a fixed-rate personal loan or debt consolidation loan with Universal Credit for free without any effect on your credit score. Just enter how much money you want to borrow ($1,000 to $50,000), how you'll use the funds and some personal information to create an account, and Universal Credit shows you what you qualify for. There's no hard credit inquiry until you accept an offer.

To be eligible for a loan from Universal Credit, you must:

  • Be a U.S. citizen or permanent resident
  • Be at least 18
  • Have a valid email address
  • Have a verifiable bank account

Universal Credit reviews your credit history and credit score to make a funding decision. If you're approved for your loan, you can receive funds within one business day after proper verification. If you get a debt consolidation loan, Universal Credit can arrange to pay your creditors directly, which takes up to two weeks.

Once you have your loan, you make fixed payments back to the lender over 36 to 60 months, depending on your loan term. There is no prepayment penalty if you pay off the loan early.

Universal Credit rates

Universal Credit annual percentage rates (APRs) range from 11.69% to 35.93% at the time of publishing. Your rate depends on factors including your credit score, the loan term and other factors. Universal Credit personal loans have origination fees of 5.25% to 8.99%, which are deducted from the loan funds.

Universal Credit FAQ

What types of loans does Universal Credit offer?

Universal Credit offers personal loans and debt consolidation loans with fixed rates and payments.

How much can I borrow from Universal Credit?

You can borrow from $1,000 to $50,000.

How soon can I receive funds from Universal Credit?

You can receive personal loan funds as soon as the next business day after clearing the verification process. If Universal Credit is arranging to pay off your creditors directly, it may take up to two weeks.

Will Universal Credit hurt my credit score?

Checking your offers from Universal Credit doesn’t affect your credit score. Once you accept a loan offer and it’s funded, the lender performs a hard credit inquiry, which can temporarily lower your credit score.

Is Universal Credit legit?

Universal Credit is a legitimate online lending platform and is part of Upgrade, which has helped provide credit to thousands of customers. If you’re looking for an online personal loan or debt consolidation loan, we recommend checking your offers, a process that’s quick and easy and has no effect on your credit. Compare the terms with offers from other lenders so you find the loan that best meets your needs and budget.

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Universal Credit Company Information

Company Name:
Universal Credit