Upstart Personal Loans Reviews

A history of more than 2 years of on-time payments meant nothing to Upstart when I encountered a financial hardship due to long-term unemployment. Even while I was unemployed for a year, I made my payments on time until my unemployment compensation and savings ran out. Two missed payments, and the "60 days late" credit bureau entries began. I asked for a waiver, given my excellent payment history, and the Upstart representative dared to insult my intelligence by insisting Upstart could not remove a negative entry "because it's the law". Any halfway-informed person knows that's not true; companies do it all the time.

I have previously taken out two loans through Upstart, both of which I successfully repaid in full. One loan was for $4,000 and the other was for $10,000. For both of these loans, I used the same residential address, and both were approved without issue. Recently, I applied for a new loan of $15,000 using the same address that was used for my two previous, successfully repaid loans. However, this time, the process has been significantly different and more complicated. The loan is now being processed by Carver Bank in partnership with Upstart. Despite my consistent repayment history and using the same verified address, Upstart denied my application, stating that the address I provided is classified as a commercial business. They requested a utility bill to confirm my residency. I informed them that I do not have a utility bill in my name to provide.

So Upstart tried calling me and texting while I was working to tell me that my $66.41 payment was 30 days late and since I was literally working I didn’t see it until around lunchtime. This is the same I noticed that I had an “ALERT” from Experian that a negative report had been made. It was from Upstart. Here’s the problem! The payment was made but for some reason it was $1.00 short. One whole dollar at $65.41 instead of $66.41. I reached out and they said they can’t change it because they are required by law to report late payments and I was late. They waited until the last minute to try and contact me, 30 whole days and no one said anything. My credit score dropped 57 points.

Called and received a full pay off amount from their representative, transferred the loan balance to a new cc with my bank and was told I was all set, no more payments, or concerns from Upstart. Few weeks later, I get notices saying I still owe a balance, I called and explained everything, asked for a manager or supervisor who was somehow never available and always had to call me back but never did. Would not honor what was promised to me, I asked for the call to be reviewed, which never happened. Just a terrible experience overall and you should think again before signing with this company.

I’ve dealt with bad companies before, but this one takes the cake. AVOID AT ALL COSTS. I’ve had two loans with them—one paid off within 30 days—and every step of the process has been a ridiculous mess. But this week? They crossed the line. They illegally processed a payment early, overdrafting my account. No authorization. No warning. Just blatant negligence. When I confronted them, a supervisor outright LIED before slowly backtracking when I called them out. They blamed their rep for "not explaining things properly," as if that somehow excuses their shady, borderline fraudulent practices.

I felt Upstart was good at first, but once I paid my loan off early I can tell they were no longer interested in my business. This is a clear practice for predatory lenders looking to focus on tying people up with high interest loans that never end. It's a shame because the website and service are user friendly and they are timely reporting to credit bureau.

I had a loan with Upstart due to the film strikes and needed some funds to tie me over while the strike continued. I was two payments away from paying it off and decided to pay it off but because the payment was made after 5:00PM it didn’t post til the next day. They reported the account to the credit bureau as delinquent the same day it was due even though email confirmation showed the payment was actually made on the due date. They refused to delete the negative mark. Upstart customer service is among one of the worst to work with and they use the same rehearsed lines to reply to you instead of trying to solve the problem. I will never apply with their company again and will make sure to encourage others to steer clear of their company.

I was pleasantly surprised by how quickly I received a decision on my loan. Within 24 hours, I received an email letting me know that I was approved for the loan and detailing the terms and interest rate. The interest rate was also much lower than I had anticipated, which was another bonus.

I receive multiple mailers from Upstart about loans. I was looking at doing a debt consolidation loan recently and happened to get another one from Upstart saying I had been preapproved for up to $50,000 at around 6.4% interest. So I thought it wouldn't hurt to see what they could do. I can't stop laughing. I have a good credit score and have made an income of up to $170,000 a year for the last 10 years. They offered me a loan for what I think (I deleted immediately) was around $4,800 (and they take around $600 of that for fees so that it actually would be around $4,200) at an interest rate that I recall was in the 35% range! I believe they go up to 39% interest. None of the debts I am trying to consolidate are anywhere near this bad. This is worse than the high interest credit cards I've seen that rip off people in desperate financial situations.

I am a shareholder in UPST. Since their stock has declined, I decided to apply for a loan through their website. However, first I looked at their advertisements which offer interest rates from "Fixed rates and terms Choose between personal loans in 3 or 5 year terms, with fixed rates of 5.2% - 35.99% APR." Next I filled out an application stating a high salary with all required information. Meanwhile, my credit score is over 800 on all (3) credit services. Within minutes, I was offered $9,500 at 35%.