LendUp Review: The Good, the Bad, and the Ugly (Demo Review)

LendUp Review: The Good, the Bad, and the Ugly (Demo Review)

(1 customer review)
Loan Ammount
$100 - $1000
Loan term
Up to 36 months
Min. credit score
Est. APR
30.00 - 180.00%
Add to compare
8.5/10 (Expert Score)
Product is rated as #2 in category Lenders

LendUp Review Summary: LendUp loans are short-term loans for people who don’t have any other options. LendUp doesn’t do a credit check during the application process, meaning their loans are very easy to qualify for. But they are also very expensive as a result, many times more expensive than the average personal loan.

LendUp has two types of loans: single-payment and installment. Most LendUp loans are single payment loans, according to their website. They are very short: only 7 - 30 days. This makes them essentially a “payday” loan, where you’re paying the lender back with your next paycheck. You pay this type of loan off all at once, along with a fee that’s equivalent to an APR of anywhere from 247.08% to 917.71%. LendUp’s installment loans last a bit longer, as you can pay them off over several months – 6 months in California, for example. However, these loans are only available to people who have borrowed from LendUp multiple times and built up “Ladder Points,” which is definitely not worth doing. They’re still very expensive, as well.

Customer Experience
  • LendUp Ladder rewards
  • Loans for those with poor credit
  • Quick processing
  • Doesn't always report to credit bureaus
  • Loan amount varies
  • Limited availability
  • High APRs
Editorial Note: This content is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the financial institution.

Company (Lender) Loan Amount Loan term Min. credit score Est. APR Funds available in
LendUp Logo $100 – $1000 Up to 36 months None 30.00 – 180.00% one business day

Payday loans are a risky endeavor. Coming in at a budget-shattering average interest rate of 400%, once you’re involved in a payday loan, it’s hard to get out.

Besides, if the premise of the loan is that you don’t have enough room in your budget to make it until payday, how will you suddenly have the room next time to pay back the loan amount plus interest? The more payday loans you borrow, the less money you’ll be able to use out of each future paycheck.

But there are times when you might need help, which is challenging if you don’t have an emergency fund or other credit to fall back on. And if your credit score is low, it’s not exactly easy to get inexpensive loans. So if these loans are a necessary evil for some, are there any responsible versions available?

Online lender LendUp would say yes. While the interest rates are in the typical payday loan range, the company touts practices that help customers work their way toward better rates.

Here’s how it works, along with information from other LendUp reviews, and details about the company’s recent legal issues.

The lowdown on LendUp

So what is LendUp, exactly? Describing itself as a “socially responsible lender,” LendUp provides short-term credit to those who might not qualify for prime financial products.

While this isn’t very different from traditional payday lenders, LendUp distinguishes itself by also offering customers ways to improve their financial situation.

  • LendUp offers a 30-day extension on single-payment loans to help borrowers who can’t pay it all back at once.
  • The LendUp Ladder helps borrowers earn points to become eligible for better rates and payment reporting to the credit reporting bureaus.
  • Borrowers can earn these points by paying off their loan, taking financial education courses online through LendUp, referring a friend, and more.

LendUp isn’t available throughout the U.S. Below are the states LendUp works in as of now.


  • Single payment loans and installment loans
    • California
    • Louisiana
    • Missouri
    • Tennessee
    • Texas


  • Single payment loans only
    • Mississippi
    • Ohio
    • Wisconsin
  • Installment loans only
    • South Carolina


There are other states where LendUp has previously offered products but isn’t currently taking applications: Alabama, Florida, Hawaii, Idaho, Illinois, Indiana, Kansas, Maine, Minnesota, New Mexico, Oklahoma, Oregon, Utah, Washington, and Wyoming.

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LendUp products

LendUp specializes in short-term credit but offers it in a variety of ways. You can use LendUp to get a credit card, a single-payment loan, or an installment loan. The amount you can borrow for a single-payment loan, which is the product that most resembles a payday loan, depends in part on the state you live in. The maximum amount of an installment loan is $1,000.

Credit cards aren’t available to everyone as of right now, though you can be waitlisted by entering your email address on the LendUp credit cards page. And if you’ve already received an offer code from LendUp, you can enter it on the same page to start your application.

As mentioned above, LendUp offers courses to help its borrowers earn points to climb up the ladder towards better interest rates and reporting to your credit bureau, which can help you build your credit score. The LendUp education platform has a variety of videos, with topics including credit building, understanding your rights, the cost of credit and more.

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Using the LendUp platform


  • Lean CRM application designed for sales teams.
  • Helps salespeople follow up with leads in a timely manner.
  • Forecasting tools provide managers with a birds-eye view of group performance.
  • Mobile applications allow users to search through contacts and deals 24/7.
  • Sales pipelines keep prospects and contacts organized.

LendUp has an online platform from which you can manage your loans. This is where you can upload application documents, such as proof of income, check the status of your application, and make payments.

The interface earns mixed reviews from customers. Some LendUp reviews report that applying is fast and easy, while others complain of occasional technical glitches, some of which LendUp might be slow to fix.

It’s important to know that LendUp currently has a notice on its website warning customers of scammers trying to imitate the company. LendUp doesn’t charge money upfront — if you receive an interaction that you’re not sure of, call LendUp at 1-855-2LENDUP or email help@lendup.com.

If you’re using LendUp and need to contact customer service, you can do so via the number listed for your state on the contact page.

LendUp interest rates and fees

Since LendUp doesn’t originate the loans and credit cards they offer, the interest rates will vary. You can check their rates and notices page to see what kind of rates you might be able to get in your state.

The fees LendUp can charge also vary by state. For single-payment loans, fees currently range from $25 to $45 per loan up to a maximum of 25 percent of the amount borrowed.

Fees for installment loans also come in different ranges and with different names. You might see what’s basically an origination fee referred to as an “administrative fee” or a “Credit Access Business (CAB) fee.” The amounts go from nothing at all to $50, or 5 percent of the loan amount all the way up to $24 to $40 per $100 borrowed.

These fees don’t include the interest rates, which also change based on the loan type and the state in which you’re borrowing. The general range sits at an APR of just more than 100% all the way up to more than 1000% on single-payment loans. Installment loans come in at 35% interest rates and up to more than 200%.

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This is the first sales type software that gets better as you discover more features. Many times I get a trial based on a cool pitch video I see, but as I dig into the program, I discover disappointing limitations or flaws.

App is a sales management tool for small teams with big ambitions. It visualizes ones sales pipeline and helps to make sure important activities and conversations won’t get dropped. Salespeople really like it because its easy to use and intuitive. And managers like it because they don’t need to nag their team to use their CRM and it’s great at sales forecasting. It also sports integrations with other software such as Google Apps, MailChimp and Zapier.

LendUp eligibility requirements

Good credit isn’t required for LendUp’s single payment loans. Below are the basic requirements.

  • Being at least 18 years old
  • Proof of recurring income
  • An active checking account that accepts ACH transfers
  • Residency in a state in which LendUp operates

You also need to have a working email address and a valid phone number that can accept incoming calls. Note that active-duty military members and their dependents are not eligible to receive credit via LendUp.

If you apply for a loan and are declined, you can log into your dashboard to find out why.

LendUp reviews on the customer service experience

Although LendUp calls itself a socially responsible lender, LendUp reviews on customer service point to some major room for improvement. The company currently has a C+ rating with the Better Business Bureau (BBB). And, thanks to recent legal trouble — more on this below — LendUp has lost its accreditation with the BBB.

The customer service feedback given in LendUp reviews points to large communication issues as well as some technical problems on the website. Some customers giving negative feedback via CreditKarma and the BBB said that it can be difficult to reach LendUp agents via telephone and that the company doesn’t always respond promptly to emails.

Several LendUp reviews complain that the company doesn’t always update information promptly to show repaid loans, and that LendUp sometimes debits an account twice for a single payment.

That said, there are also good reviews in which customers say they’ll use the product again. Some LendUp borrowers acknowledge the high interest rates but say that’s what they expect for this kind of product, as it caters to those who might not eligible for more favorable rates. In fact, some of the positive reviewers say they’ve been using the company for years and plan to continue to do so.

So what about this legal trouble? In September of 2016, the Consumer Financial Protection Bureau (CFPB) ordered LendUp to pay $3.63 million for not delivering on the benefits advertised. Violations included not reporting to credit reporting agencies as advertised, misleading customers about the product offerings and interest rates available to them, and reversing interest rates without proper disclosure.

In an interview with TechCruch last year, LendUp CEO Sasha Orloff said the violations stemmed from “legacy issues that mostly date back to our early days as a company. … In those days we didn’t have a fully built out compliance department. We should have.”

Orloff said that the company has since addressed the issues.

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Deciding if LendUp’s products are right for you

Based on some of the LendUp reviews, it’s clear there may be risks involved — some of the same risks that exist with many payday lenders. It’s already difficult to get out of a payday loan cycle. That would only be made worse by working with a company that’s not quickly responsive if you run into trouble with your account.

However, LendUp does offer a chance to extend your single-payment loan without going deeper into debt from excessive fees. And if you work to build points and climb the LendUp Ladder, you might be able to free yourself from the initially (very) high interest rates.

Some might also see this as a tool to build credit when their own credit is new or damaged. But if this is the case with you, you might want to consider the much-lower-interest option of a secured credit card. And if your credit score is high enough for traditional personal loans rather than payday loans, that might be a much easier and more seamless process for you.


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What are the main features of App?

  • Sales App View – great overview of sales
  • Contact History
  • Full Customization
  • Email integration
  • Goal Setting & Reporting
  • Roles & Organizational Hierarchy
  • Multi-Language
  • 24/7 Support
  • Google Calendar & Contacts Integration
  • Powerful API
  • Mobile Apps

Terms: LendUp Review: The Good, the Bad, and the Ugly (Demo Review)

Loan amount $100 - $1000
Loan term Up to 36 months
Min. credit score None
Funds available in one business day
Est. APR 30.00 - 180.00%

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