Upstart Personal Loans Reviews

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%.

Received a low rate on a Credit Card of about 30% whereas another loan company Upstart gave me a loan for about 9%. Customer service for the Credit Card wouldn't allow me to change my address. So I NEVER received my Credit Card. They gave me harsh instructions like take a picture with my face and the account number. Completely off policy. They reviewed my credit rating DURING the loan process and would often deny me from taking advances on the Credit Card. They once told me I was approved for a cash advance on the credit card and made a personal decision not to honor that. Customer service on the Credit Card is cruel and unjust. Horrible experience. I certainly WOULDN'T get a Credit Card with this company.

Worst customer service. They verify you which takes a few minutes, then transfer you because they say you're in the wrong department. Then that person ask what you need, and doesn't respond but immediately transfers you. The people who answer the phones have no answers or knowledge of the loan process or loan offerings. If you need a professional and knowledgeable loan company, then stay away from them.

After being approved via online and through my bank account. I then was asked to send supporting documents proving my account was my account. After calling the credit union, getting documents and sending proof over to them multiple times. While still in process of gathering documents they denied me for not verifying me before process was complete. I'm pretty sure this Violates Consumer protection laws! Stay Away from this lender!

After initially accepting the loan from Upstart I decided not to accept the loan due to the extreme interest rate. After contacting them I explain to a supervisor my situation. He reviewed the call log and informed me that I had called before the deadline to cancel the loan. He informed me that an investigation had to be done then they would not hold me liable for the processing fee and wait 5 to 7 days for an email update. The end result was that I was charged the processing fee $3,617.60 anyway after I was told I wouldn't be charged. Upstart is only good as long as you don't want to cancel the loan. A total rip off to someone who is already trying to get out of debt.