I want to highly recommend Upstart to anyone looking for a loan with less than perfect credit. I have worked hard on my credit after I destroyed it in my 20's. 10 years later my score was low to mid 700s so my hardwork paid off. However, after some unexpected legal bills and medical bills my credit has taken a hit.

That said, Upstart took note of why I had fallen behind on some payments and the reason for needing the loan. Most online finanical institutions will not do this. They either simply deny you or they offer you an interest rate that should be illegal to even offer. Upstart, however, offered me an interest rate that was incredibly attractive and a loan term of 60 months. Quite frankly, I was blown away by both the interest rate and the loan term; the latter because the longest loan term on average is 36 months resulting in a monthly payment almost twice as high, and thus, more diffifcult to manage and pay on time.

In addition to the attractive rate and term, I need to discuss my experience with the application process since it took way longer to review and approve my loan than the 1-3 calender days they state on their website. All in all it took approximately 10 calender days for my loan to be approved. The reason however, was due to having completed the phone verification process from a phone number that was not the same as the one I put in my application. This was a bone head move on my part. That said, it took 8 days to resolve this issue because hold times to speak with a live representative TAKE FOREVER. This would be the only negative for Upstart. The wait times can take up to 2 hours. They also never responded to my email during all that time. I probably sent 7 emails asking for an update on my application and I always received an automated response stating that someone would contact me shortly, which never happened.

So if you ever run into problems during the application process, I suggest carving out some time to wait and speak with someone. I should also add that it doesn't matter if you call first thing in the morning or in the afternoon. The hold times are always that long no matter what time it is.

Despite the long wait times, my issue with the phone verification was resolved the very first time I spoke with a live agent. They were extremely nice and recognized how long it had been since I submitted my application. The Upstart representative fast tracked my application at that point and I received an email that wasn't automated for the first time that very same day.

The email asked for me to upload additional documentation which I did the very next morning (Day 9). On day 10, I received an loan approval email with instructions on how to complete the loan process. I logged into my account, signed my loan docs, and received a notification on the website that my funds would be delivered the same day.

Needless to say, I was extremely happy that Upstart made up for not resolvig my phone verification issue sooner. So to wrap up the review, I will just say that I am extremely pleased with Upstart and highly recommend them. Lastly, I just wanted to thank everyone at Upstart for helping me out and for getting me approved.

Sincerely,
S.P.

Date of experience: October 20, 2021