Simply visit our website and click "Check Your Rate." Complete a short 2-minute application with basic personal and financial information. You'll receive an instant rate quote with no impact to your credit score.
The initial application takes about 2 minutes to complete. Most applicants receive an instant decision, with 87% of our loans being fully automated with no human interaction required.
No! Checking your rate uses a soft credit inquiry which will not impact your credit score. Only if you proceed with the full application and accept a loan offer will there be a hard inquiry.
You'll need: your Social Security number, date of birth, current address, employment information, income details, and bank account information for verification and funding.
✅ Eligibility & Requirements
Upstart accepts credit scores as low as 300. Unlike traditional lenders, our AI considers over 1,000 variables beyond just your credit score, including education, employment history, and income.
The minimum annual income requirement is $12,000 from regular employment, self-employment, or other verifiable sources. This can include bonuses, commissions, and investment income.
You must be a U.S. citizen or permanent resident with a valid Social Security number. You also must be at least 18 years old and reside in a state where Upstart operates.
Yes! Upstart considers applicants with fair or bad credit. Our AI looks at your full financial picture including education, job stability, and income, not just your credit score.
💰 Rates & Fees
APR ranges from 6.70% to 35.99% depending on your credit profile, income, loan amount, and term length. Your personalized rate will be shown when you check your rate.
Upstart may charge an origination fee between 0-15% of the loan amount, deducted from proceeds. There are no application fees, prepayment penalties, or platform fees. Late payment fees may apply.
No! You can pay off your loan early at any time without any penalties or extra fees. We encourage early repayment as it saves you money on interest.
The origination fee (0-15%) is based on your credit profile and loan characteristics. It's deducted from your loan proceeds. For example, a $10,000 loan with an 8% fee means you receive $9,200 but repay $10,000.
⚡ Approval & Funding
Once approved and you accept the loan offer, funds are typically deposited into your bank account as fast as 1 business day. Most applicants go from application to funding in under 24 hours.
You'll receive a loan offer with complete terms including APR, monthly payment, and fees. Review the offer carefully, then sign electronically if you accept. Funds will be sent to your bank account.
If denied, you'll receive an explanation of the factors that influenced the decision. You can work on improving those factors and reapply in the future. There's no penalty for being denied.
Our AI analyzes over 1,000 data points including education, employment history, income, and traditional credit factors to create a complete picture of your creditworthiness. This allows us to approve more people at better rates.
💳 Repayment & Account Management
Payments are automatically deducted from your bank account on your due date. You can also make manual payments through our online portal or mobile app. We recommend enabling AutoPay for a 0.50% APR discount.
Yes! You can make extra payments or pay off your loan early at any time with no penalties. Extra payments go directly toward your principal balance, saving you interest.
Contact us immediately if you're having trouble making a payment. Late payment fees may apply, and missed payments can negatively impact your credit score. We're here to help find solutions.
Yes, you can request to change your payment date through your online account or by contacting customer support. We'll work with you to find a date that aligns with your pay schedule.
🔒 Security & Privacy
Yes! We use 256-bit SSL encryption (the same security as major banks) to protect your data. All personal information is stored in secure, encrypted databases with strict access controls.
Loans are made by our 100+ FDIC-insured bank and credit union partners. Upstart is the platform that connects borrowers with these lending partners using our AI technology.
No, we never sell your personal information to third parties. Your data is used solely for loan processing and account management. See our Privacy Policy for complete details.
Still Have Questions?
Check your rate in 2 minutes - no impact to your credit score.