It is not hard to get a personal loan through Upstart because the company because you can get approved with a credit score as low as 300 or no credit score at all. Other requirements you’ll need to meet include being at least 18 years old (19 in NE and AL), having an SSN, and having an annual income of at least $12,000.
Requirements for a Personal Loan Through Upstart
- Minimum Credit Score: None
- Minimum Income: $12,000 per year
- Age: 18 years old (19 in NE and AL)
- Residency: Reside in one of the 50 U.S. states
- Identification Type: SSN, verifiable name and date of birth, and email address
- Credit Report: No bankruptcies or public records on your credit report
- Delinquency: No accounts currently in collections or delinquent
Once you make sure you've met all the requirements for a personal loan through Upstart, you should have a good chance of approval. However, the exact rate you receive will depend on factors such as your credit score, income and education.
Additionally, you can pre-qualify on Upstart’s website to see if you’re likely to get approved and what rates you could get. Plus, it won't hurt your credit score.
Although educational information is collected as part of Upstart's rate check process, neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan.
When you check your rate, Upstart will check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, Upstart will do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information will be reported to the credit bureaus.
This answer was first published on 11/17/21 and it was last updated on 12/14/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
