Best Loans for Bad Credit in 2025-Upstart Personal Loan

Upstart pros and cons

While Upstart’s lending approach might simplify the loan qualification process, it may not suit everyone’s needs.

Upstart leverages AI and focuses on aspects such as education and employment, which can simplify the process of obtaining a personal loan — especially for those with poor or no credit history. If you are currently enrolled in an accredited associate’s degree program or a higher level of education, Upstart does not require a credit score. This also holds true if you possess at least an associate’s degree from an accredited institution.

On the downside, if you need a co-borrower or cosigner to qualify for a loan or to secure better rates, Upstart does not provide this option. Additionally, you might face a high origination fee ranging from 0.00% to 12.00%. Typically, the lower your credit score, the steeper your origination fee will be. Fortunately, this fee is not an out-of-pocket cost. Instead, Upstart will subtract the origination fee from your loan amount before disbursing the funds to you.

Upstart requirements

In addition to being at least 18 years old, you must also fulfill the following criteria.

If you fulfill the basic criteria mentioned above, you might have to reveal your intended use for the personal loan. Although Upstart permits borrowers to utilize its funds for various reasons, there are specific expenses that you cannot allocate the money towards.

If Upstart’s loan options don’t suit your borrowing requirements, make sure to explore other lenders that can assist you in achieving your financial objectives and provide you with the most suitable rates, terms, and amounts for your circumstances.

Best 9 Credit Cards for Bad Credit in 2025