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LendUp Reviews

LendUp is an established  loans lender that is licensed and regulated by the state. With a 24/7 uptime, you can access a loan at any time from the 24 states serviced by LendUp.  The application is quick and simple with an instantaneous approval and this has made them become a favorite to customers. The turnaround time can be a little as 15 minutes.


LendUp is a company that offers online payday loan services across 24 states. It provides loans to customers 24/7 with a fast processing time. The most outstanding feature of this service is the timing. With a decision making that is almost instantaneous and a quick deposit of the requested money into your account makes it to stand out.

The terms and rates vary in different states and they have a program which offers better terms to repeat customers. The company presents itself as a suitable source of funding for individuals who may be strapped for cash before payday. Its motive is offering more affordable loans, transparency and educates the customers to help them climb out of debt and raise their credit scores.

LendUp online platform makes it possible to process your application in minutes. If approved, the money is available in your account in a single business day.  In some states, funds are available in your account within 15 minutes of application approval.

This company uses a tier program called the LendUp ladder system and starts at silver, gold, and platinum through to prime. To climb the ladder, borrowers must repay their loans on time and earn some points. As you ascend, you are allowed to borrow at better terms which may include more money, lower rates, and longer timeframes.

To earn more points, you can refer people to the service or take their free financial literacy courses available on the site. If you use the referral link and the person you referred takes a loan, you will both receive 500 points.

To be eligible, all applicants must meet the minimum requirements which are:

  • Have a bank account that accepts ACH transfers
  • Proof of current employment

Eligible applicants may choose to borrow between $100 and $500. However, limits are determined by individual qualifications and laws in the state of residence.

The application process is quite simple. Fill out the online form with the correct details and your state of residence will determine whether you’ll need to upload a recent pay stub. This verifies your income.  Once you submit the application, a decision is made almost instantly and if the application is approved, you will have the money in next business day. Similar to most lenders, LendUp will not perform credit checks as a prequalification to borrow.

In some states, it’s possible to receive the money in as little as 15 minutes but you have to pay a service charge for the same. In some cases, your bank will affect the total time taken to receive the funds.

The loan application must be submitted before 5 p.m. from Monday to Friday if you are to be funded the next business day.

The interest rates are a factor of the total amount borrowed, the state of residence and the time frame chosen which normally is 10 to 28 days. However, repeat borrowers with a good repayment history on the site can access lower rates and terms through the LendUp ladder program.

In different states, a $100 loan will attract an APR that ranges between 235.42% and 625.71%. However, you can work your way up the ladder over time and qualify to receive a loan at a rate as low as 29 APY.

A non-negotiable origination fee of 17.5% is charged on all successful applications. This is more of a processing fee and it affects the total amount that you owe. When calculating the APR the origination fee is factored in. This fee is charged by most lenders but others have zero origination fee.

Company charges several additional fees and penalties:

  • An origination fee which varies based on states with an up to $5 verification fee.
  • A $15 non-sufficient funds fee is charged on borrowers with automatic repayment when their accounts don’t have enough money to cover the payments. To avoid this fee, make sure that your account has enough money to cover the stipulated payment amount. By doing that, you will not only avoid the lender fee but also other charges from the bank.
  • If you choose the 15-minute funding option over the normal next business day service, an extra fee will be charged. The fee is normally 1.75% and $0.30 on the payment amount.
  • If the loan is repaid early using a debit card or money gram attract an additional charge.
  • Debit card payment fees of up to 1.75% of the payment amount with an additional $0.30.

A 0.35% same day direct deposit fee is charged on borrowers who may choose to have the funds sent to their accounts on the same day.

Regular borrowers have the opportunity to access better rates and terms through the LendUp ladder program. The higher you climb the ladder; you can access more money at lower rates and increased repayment periods. As a onetime borrower, you won’t benefit much from this program but you are encouraged to build your credit history for better terms.

Additionally, at both platinum and prime levels, you can report the payments to credit bureaus to raise your credit score. With no loan rollovers, the customer is protected from a cycle of debt which can be pretty hard to climb out. Therefore, if you can’t pay back the loan on time, you are allowed to extend the loan repayment period for a maximum of 30 days without attracting a penalty.

The online courses are free and cover several topics that will:

  • Help you gain more understanding on credit scores
  • Shed light on credit reports
  • Help you understand how credit cards work
  • Equip you with general essentials of saving.

The application is simplified with a quick decision making and a very rapid funds deposit into your account.

Currently, LendUp.com is in operation in Alabama, California, Idaho, Florida, Hawaii, Indiana, Kansas, Louisiana, Maine, Minnesota, Mississippi, Missouri, Ohio, New Mexico, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming.

Headquarters : 225 Bush St., 11th Floor

San FranciscoCA94104

Mailing Address :

237 Kearny St #372
San FranciscoCA 94108

Website offers discount codes that can help you save up to 40% on your loan. The codes are normally available on their Facebook page and in their newsletters. To receive the newsletters with occasional discount codes, you need to sign up on their website.

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