LendUp payday loan alternative review 2019 | finder.com

LendUp Payday Loans

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Start with small loans and work towards rebuilding your credit with this provider

LendUp offers a unique borrowing platform where you can rebuild your credit history as you move up the LendUp Ladder and take free financial education courses. Although you’ll be limited to small loan amounts at first, you can keep borrowing over time to help build your credit and get access to better loan terms.

Product NameLendUp Payday Loans
Min Loan Amount$100
Max. Loan Amount$250
Loan Term7–30 days
Loan SecurityUnsecured
Turnaround Timegenerally receive the money the next business day
CostsDepends on your state, loan product, loan amount and the term of the loan.
RequirementsBe 18+ years of age and have a checking account that can accept electronic transfers.
  • Reside in CA, LA, MO, MS, TN, TX or WI.
  • Proof of income.
  • A social security number.
  • A checking account that can accept electronic transfers.

Where does LendUp offer loans?

LendUp currently offers loans in these states:
  • California
  • Louisiana
  • Mississippi
  • Missouri
  • Tennessee
  • Texas
  • Wisconsin

If you don’t live in one of these states you can visit our payday loan guide to see what loans are available where you live.

How does borrowing from LendUp work?

LendUp loans follow a unique ladder system where borrowers may choose to improve their credit by successfully borrowing and paying back short-term loans. You can borrow anywhere from $100 to $250 your first time.

If you repay your loan successfully, you’ll be able to earn points and borrow more the next time you need money. You can also choose to complete free education courses offered by LendUp to increase the amount of points you have. This allows you to borrow more money at lower rates, and when you reach LendUp’s platinum and prime loan rungs, you can choose to have your credit reported.

Interest rates will vary based on your state of residence and how many times you’ve borrowed from LendUp. Your term could range from 7–30 days and depends on when you get paid.

Why a LendUp loan might work for you

LendUp loans have received positive mention from CNN, TIME, Wired and Financial Times. While these loans are essentially short-term payday loans, they come with a number of helpful features.

  • Good credit not required. LendUp approves people with poor credit. Their mission is to provide money to qualified applicants when they need it.
  • Instant decision on loan. Applying takes no more than a few minutes to complete, and you can find out if you’re approved instantly after submitting your application.
  • Credit education. LendUp offers free credit education courses through its website where everyone (whether they’re customers or not) can learn about topics including credit-related rights, how to establish credit, how to go through their credit reports and how to find out about the true cost of borrowing.
  • Online personal dashboard. You can check your loan’s status at any time by signing into LendUp’s online platform.

Once you repay your first loan, you can earn points that place you higher on the LendUp Ladder. If you’re eligible to move up the ladder, you may be able to borrow more money for a longer term and at a lower rate.

How do LendUp payday loans compare?

Rates last updated March 19th, 2019
Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
Name Product Product Description Max. Loan Amount Turnaround Time Requirements
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
1 business day
Must have direct deposit and meet minimum income requirements
Jora Installment Loans
Installment loans with repayment terms up to 30 months, depending on your state.
1–2 days
Must have an active checking account, regular source of income and email address.
LendYou Short-term Loans
Apply online with this loan-connection service offering unrestricted short-term loans with fast turnaround.
1 business day
You must be a US citizen or permanent resident, age 18+ and have a regular income.
CashUSA Installment Loans
A connection service for quick cash loans up to $10,000.
As early as 1 business day
Must have a monthly income of $1,000+ after taxes and valid checking account.
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
1 business day
You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
ACE Cash Express Short-term Loans
Quick payday, installment and title loans with no prepayment penalty and a 72-hour satisfaction guarantee. Funds can be loaded on an ACE Elite™ Visa® Prepaid Debit Card.
Varies by state
Generally receive the money the next business day
Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.
LendUp Payday Loans
LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see more details for your state.
generally receive the money the next business day
Be 18+ years of age and have a checking account that can accept electronic transfers.

Compare up to 4 providers

LendUp goes beyond just short-term loans

While LendUp is primarily a short-term loan company, it also offers other products that you might find beneficial.

  • Credit card. LendUp has recently started offering its Arrow Card, which allows select borrowers to build credit without having to put down a deposit.
  • Educational resources. LendUp offers a library of information and courses about personal finance. You can use these financial literacy courses to help score lower rates on your loans with LendUp.

More about the LendUp credit card

You may have come across information about LendUp’s new credit card offer. Unlike secured credit cards, LendUp’s card doesn’t require a deposit for you to apply. However, the card isn’t open to everyone. You’ll have to sign up for updates about the card through your email and wait for a promo code. Once you have one, you can start the process of applying.

LendUp has developed a system of low payments that are reported to the three major financial bureaus so you can start improving your credit score right away without worrying about over limit fees and hidden costs. You’ll also have access to LendUp’s financial videos that can teach you all you need to know about borrowing smartly and safely.

Like all forms of credit, be careful when applying. If you’re approved, you’ll be required to pay interest on everything you borrow. It may not be as much as other short-term credit products, but if you don’t budget with the interest in mind, it’s possible damage your credit even further.

What are the costs of borrowing from LendUp?

Like all loans, there are fees you have to pay in addition to the principal amount you borrow. You can find out how much you’ll end up paying by going through the list of fees and charges detailed on LendUp’s website and on your loan offer document once you’ve been preapproved.

Depending on where you live, you might have to pay a Credit Access Business (CAB) fee in addition to other fees LendUp charges.

Late payment fees will vary by your loan type and state. If you’ve borrowed a prime loan, it’s critical that you make your payments on time since these will be reported to all three credit bureaus.

Is LendUp legit?

Yes. LendUp is a legit company that allows you to borrow short-term loans and work on rebuilding your credit score. It is licensed in every state it services and keeps its rates transparent so borrowers know exactly what they’ll be spending. Like all short-term loan providers, it is heavily regulated. This means that your state will have specific laws about the maximum loan amount you’re able to borrow and how much LendUp can charge in fees and interest.

LendUp was recognized at the Lend360 conference in 2018 for its innovation in helping borrowers build savings.

Is LendUp safe?

Yes. LendUp runs a secure website that keeps your information encrypted and safe when you enter it into an application form or when logging in to your account. Its privacy policy covers what type of information it collects and how that information is used. This is standard for all legit lenders. Review it carefully, and if you would like to opt out of some of your information being shared with third party lenders, you can call LendUp at 1-855-253-6387.

How to apply

LendUp’s application requires you to meet some basic eligibility criteria and provide some important information about yourself.

Eligibility criteria:

  • Reside in one of LendUp’s serviced states: CA, LA, MO, MS, TN, TX or WI
  • Have a valid checking account
  • Be at least 18 years old
  • Be a citizen or permanent resident of the US

Required documentation:

  • Personal details, including your name, date of birth and Social Security number
  • Contact details, including your address, email, and phone number
  • Financial details, including your bank account information

Bottom line

LendUp is unique among its competitors because of its ladder system that can help you build your credit over time. Although you’ll be limited to a small amount at first, consistent repayment and financial courses could lead to you getting access to better terms, lower rates and higher loan amounts.

If you need to borrow more money than LendUp offers, you can explore other short-term loan providers or compare loans similar to LendUp see if there’s a better option for you.

Frequently asked questions

Elizabeth Barry

Elizabeth Barry is Finder's global fintech editor. She has written about finance for over five years and has been featured in a range of publications and media including Seven News, the ABC, Mamamia, Dynamic Business and Financy. Elizabeth has a Bachelor of Communications and a Master of Creative Writing from the University of Technology Sydney. In 2017, she received the Highly Commended award for Best New Journalist at The Lizzies. Elizabeth has found writing about innovations in financial services to be her passion (which has surprised no one more than herself).

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20 Responses

  1. Default Gravatar
    Smith82457February 25, 2019

    I applied for a loan on sunday. How long will it be to I can access my fund?

    • finder Customer Care
      JoshuaFebruary 26, 2019Staff

      Hi Smith82457,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      After you are approved, you should be able to access your money the next business day.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  2. Default Gravatar
    carrie330January 13, 2019

    uncomfortable giving social security number…
    how safe?

    • finder Customer Care
      johnbasanesJanuary 16, 2019Staff

      Hi Carrie330,

      Thank you for reaching out to finder.

      You may want to check the reviews provided for this specific lender to know how secure they are or have your application done personally. LendUp currently offers loans in these states:


      If you don’t live in one of these states you can visit our payday loan guide to see what loans are available where you live. Hope this helps!


  3. Default Gravatar
    amy.anderson94September 29, 2018

    I had a loan with Lend Up years ago, and I have not paid it yet….Is it possible to get the balance onto a LendUp credit card so I can attempt to build my credit as I pay it back, and then han=ve a credit card also, when it is paid off….I have had other creditors do this in the past and I think it is a great way to take care of debt, and get some credit in return….

    • finder Customer Care
      JoshuaOctober 2, 2018Staff

      Hi Amy,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      LendUp does provide a credit card. However, you need to confirm with LendUp if they allow you to transfer your loan to their LendUp credit card. Generally, not all credit card providers allow this type of transaction. For this reason, it would be a good idea to directly ask LendUp.

      It is true that using your credit card responsibly can improve your credit history and score. You can learn more about that in this article, “Build your credit history with 4 different types of credit cards.”

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  4. Default Gravatar
    SolomonJune 26, 2018

    I would like to apply for another loan. Is there a waiting period before I can do so?

    • finder Customer Care
      nikkiangcoJune 26, 2018Staff

      Hi Solomon!

      Thanks for leaving a question on our page.

      Once you pay your first LendUp loan completely, there is usually a waiting period of three to four days before you can apply for another loan. There may be other restrictions as well depending on your state.

      You may refer to the map above and hover through to the state you’re in, click that state to see regulations.

      Hope this helps!


  5. Default Gravatar
    MikeNovember 29, 2017

    Does lendup ever go past the $1000 loan limit?

    • finder Customer Care
      JhezelynNovember 30, 2017Staff

      Hi Mike,

      Thank you for your comment.

      Generally, LendUp loan amount depends on your individual state laws, your eligibility and other factors. You’ll be able to see available loan amounts, durations and pricing before completing your application.

      In addition, base on the last level on the LendUp Ladder which is the Prime Level, you may be able to apply for a Prime Loan of up to $1000. Therefore, the maximum loan amount is $1000 and is only offered to qualified applicants.

      I hope this helps.


  6. Default Gravatar
    KentNovember 20, 2017

    What is another way i can repay my loan other than the bank?

    • finder Customer Care
      JoanneNovember 21, 2017Staff

      Hi Kent,

      Thanks for reaching out.

      There are other options in acquiring funds other than banks. One option is through a personal loan where you can borrow from a lender and pay back with interest over a set period of time which is usually between one to seven years. Your lender will determine your loan amount, interest rate and fees based on factors like your credit score.

      You may check this page to get a more detailed information and compare options between lenders.


  7. Default Gravatar
    SherithaSeptember 20, 2017

    The website don’t let me sign-in.

    • Default Gravatar
      JonathanSeptember 20, 2017

      Hello Sheritha,

      Thank you for your inquiry.

      You can click “Forgot your password” option on their sign-in page, and then follow the instructions sent to reset it.

      Hope this helps.


  8. Default Gravatar
    ErlaJuly 29, 2017

    What do you mean you don’t accept bank statements? The fifth item on the list of acceptable proofs is the last two months of bank statements. I sent you more than two months and now you are saying that isn’t approved. I have had eight loans with you people and have always paid them on time and have caused you no problems. What makes this one any different? I don’t know where you came up with the 7,670 figure as it doesn’t match any of the incomes I receive, Social Security is 10,548, Southern Lakes Publications is 5,163 and the SER program is 7,296.

    • finder Customer Care
      HaroldJuly 30, 2017Staff

      Hi Erla,

      Thank you for your inquiry.

      While we do not represent any company that we feature on our pages, we can offer you a general information. In general, to apply for Payday Loan you must have the following:
      – You have a valid checking account
      – You are a permanent resident or a citizen of the US

      Should there be any clarification or you need to follow-up your ongoing application. It would be nice to contact the lender directly.

      I hope this information has helped.


  9. Default Gravatar
    MommyoftwoJuly 13, 2017

    How long do you have to pay back the $500 loan? I recently reached gold status so this would be my first $500 loan is it the same 30 days or do you have longer since it’s more money?

    • finder Customer Care
      AnndyJuly 13, 2017Staff

      Hi Mommy,

      Thanks for your question.

      Kindly note that with LendUp, members with Gold status may borrow up to a maximum amount of single payment and/or installment loans. For some states like Ohio, if you are on a Gold status, you can only borrow up to $500 single-payment loan. This means that the loan is payable on the next payday.

      Kindly check the lender’s website to see what type of loan is available to you based on your state of residence. If it is an installment loan, you can repay it over a period of time.


  10. Default Gravatar
    LonnieApril 18, 2017

    How can I get started with the app it wont let me go there do you have a phone number I can call?

    • finder Customer Care
      HaroldJuly 9, 2017Staff

      Hi Lonnie,

      Thank you for your inquiry.

      By clicking the “Go to site” it will take you to your Online Application on the product issuer’s website. You do not need to be an existing customer of this provider to apply.You can also check their contact number directly to their website.

      I hope this information has helped.


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