Best Loans for Bad Credit in 2025-Upstart Personal Loan

If you find yourself with poor credit (or even no credit in certain situations), Upstart could be a great option for you. It boasts one of the most lenient minimum credit score requirements available. While Upstart’s rates and fees may be somewhat elevated, they are significantly lower compared to numerous other lenders catering to those with bad credit.

Upstart Personal Loan Review

Upstart is a lending platform that utilizes AI to assess your eligibility for a loan. According to Upstart, its AI algorithm enables the approval of borrowers who might be turned down by other lenders.

To qualify, you only need a credit score of at least 300. Additionally, if you’re a qualified college student or graduate, you don’t need a credit score at all.

More than just credit score considerations: Upstart employs a nontraditional lending approach that allows individuals with imperfect credit scores or limited credit histories to qualify. The platform uses AI to analyze loan applications, taking into account factors such as education and employment.

Next-day loans: Once approved, you could receive your Upstart loan within 24 hours.

Limited repayment terms: While many lenders provide a variety of repayment term options (ranging from 24 to 84 months), Upstart only offers terms of 36 or 60 months. The repayment term refers to the duration you have to repay your loan.

Charges an origination fee: With rates between 0.00% and 12.00%, Upstart has one of the highest potential origination fees in the personal loan sector. Origination fees are one-time administrative costs deducted from your loan amount.

Check rates without affecting your credit: If you wish to explore your potential interest rates without impacting your credit score, Upstart allows you to prequalify for a loan.

Ideal for borrowers with poor or no credit: Upstart may be a great option if you’re struggling to get approved for a personal loan. While it doesn’t approve everyone, it has more lenient eligibility criteria than usual. Although Upstart’s rates and fees aren’t the lowest, they are generally considered to be below predatory levels by many financial experts.

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