LendUp Personal Loans Review of June 2024

ElitePersonalFinance
Last Update: March 11, 2023 Loan Reviews

LendUp doesn’t provide loans anymore. If you are looking for a loan, please visit our marketplace.

LendUp in a nutshell

LendUp is a type of improved payday loans companies. Use LendUp, and companies like it only if you can’t get a personal loan and your chances are payday loans only. Payday loans are predatory. They typically offer up to $1,000, with an APR of 400%, and people very often come in a debt cycle. Personal loans typically offer over $5,000, and APR is 5.99% to 35.99%. If we have to define LendUp and companies like them, this will be between personal and payday loans. Typically these companies offer about $1,000 to $5,000, and APR is between 36% to 400%. But these companies seem that don’t want you in a debt cycle. They offer much more flexibility. This means that if you can’t get the loan on time, they will offer you options to delay it, opportunities to skip a payment, refinance options. Some of them work with you to increase your credit score by providing you educational materials or reporting your positive payment history to bureaus. Some of them agree to lower the APR for people who pay their loans on time. Approving these loans is much easier for people with really bad credit. We at ElitePersonalFinance don’t list payday loans and auto title loans and recommend people to avoid them. We list only a few companies of these improved payday loans. We recommend them only if you really can’t get a personal loan.