About LendUp

Searching for a reputable payday lender may seem impossible, but LendUp claims to provide a solution. Instead of causing individuals to become trapped in debt through extremely high interest rates and fuzzy terms, LendUp is a socially responsible direct lender that can help you build your credit, and gain access to more money over time.

But does LendUp live up to these expectations? Let’s take a look.

Understanding How LendUp Works

If you’re one of the millions of Americans who work hard but find themselves “locked in the short-term debt trap,” LendUp claims to provide a solution. Instead of keeping you trapped in debt, LendUp has a unique system in place that allows you to quickly access payday loans, and to earn points for things like repaying your loan on time, taking education courses, and even referring friends. The company calls this “climbing the ladder,” and the program spans four different tiers:

  • Silver – Borrow up to $250 for as long as 30 days. Will need to be repaid all at once.
  • Gold – Borrow up to $500 for as long as 60 days. Multiple payments can be made.
  • Platinum – Borrow up to $700 for as long as 6 months. Multiple payments can be made.
  • Prime – Borrow up to $1,000 for as long as 12 months. Multiple payments can be made. On top of this, once you reach the Prime level, you can report your repayment behavior to the major credit bureaus and may be eligible for APRs as low as 29%.

When you’re ready to apply for a LendUp loan, the process works in three steps:

  1. Apply online in as little as 5 minutes.
  2. Since LendUp is a direct lender, they use a proprietary algorithm to provide you with an immediate response.
  3. Your money can be deposited directly into your bank account in as little as 15 minutes. LendUp claims that their loans contain no hidden fees or rollovers, and feature clear terms and conditions.

When it comes time to repay your loan, you can either pay your it in advance, or LendUp will automatically withdraw the payment directly from your bank account.

As part of their commitment to socially responsible lending, LendUp claims to understand that they only succeed when you’re able to repay your loan, so they’ve created an environment to work with you when the unexpected happens. This includes loan extensions up to 30 days, and even beyond this as decided on a case-by-case basis.

LendUp Pricing & Refund Policy

LendUp charges a variety of APRs for their loans. As of the time of this writing, this ranged anywhere from 199.53% to 748.77%, although once you reach the Prime tier, you may have access to APRs as low as 29%.

What Do Other Consumers Have to Say About LendUp?

LendUp has been featured in TIME, the Wall Street Journal, Inc., and more, and has been in business since 2012. However, the company is not listed with the Better Business Bureau, and online customer reviews were few and far between during our research.

Despite this, some of the most common complaints we encountered cited difficulty reporting your LendUp loans to credit reporting agencies, and that there is no direct phone number to contact someone at the company. With this said, it appears LendUp responds to complaints quickly.

What’s the Bottom Line About LendUp?

Similar to Rapid Loans Direct, Greenlight Loans, CashAdvance.com, and others, LendUp is a short-term payday lender, regardless of how socially responsible they claim to be. This means they charge very high interest rates for their loans, which are essentially the same as competing payday lenders. And as we’ve recommended in the past, it’s best to stay away from these types of loans if at all possible.

With this said, LendUp does seem to take a “kinder, gentler” approach to payday lending, with 30-day extensions available, and even beyond depending on your situation. So if you absolutely must take out a short-term payday loan, LendUp appears to be a solid choice.

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111 Customer Reviews for LendUp

Average Customer Rating: 3.0
Rating Snapshot:
5 stars: 48 4 stars: 8 3 stars: 2 2 stars: 5 1 stars: 48
Bottom Line: 52% would recommend it to a friend
Showing 1-11 of 111
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  • Very satisfied customer

    Applying with LendUp was the best decision I made this year! They are very prompt, as well as reasonable. I would definitely encourage as many people as I can to use their services because I will definitely be using their services for a very long time.

    Bottom Line: Yes, I would recommend this to a friend

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  • LendUp is sincerely the greatest and I have been a loyal customer for over 2 years now.

    • California,
    • Jan 9, 2017

    Anyone who is really wanting to improve their credit needs to give LendUp a chance.

    I have had no complaints whatsoever, and I have been with them for over two years. They have an easy start to finish online application, and the direct deposit is convenient. Anyone who is serious about paying back the funds and pays when you agree to, then there is no dilemma. I pay my bills now efficiently and with ease, since the point of rebuilding credit means learning how to pay your bills on time.

    Now this lender gives me up to $1,000 whenever I may need to borrow without hassle. Thanks to them I now have other lenders and different companies who I have "credibility" with as well, since LendUp has been reporting my payments to the three bureaus.

    Is this not the goal? YES it is.

    Bottom Line: Yes, I would recommend this to a friend

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  • 1 out 2 people found this review helpful

    Warning. Achtung. Beware of LendUp!

    • San Diego, CA,
    • Jan 3, 2017

    I feel responsible to warn you all how horrible LendUp is!

    Yes, I was able to pay back every loan on time so my judgment is not swayed in any way due to any doing of my own, but LendUp is simply the most horrible service I've ever dealt with in regards to paying back. It is damn near impossible to do so via their automated system or in person! They actually go out of their way to lose the phone connection if by some slim chance you do make it through to them.

    And if you somehow surpass the hurdles, you are simply told that your payment can't be accepted until your due date expires. At this point, they simply terminate your call, at which point you will find it impossible to contact them again!

    I wish you the best of luck if you find it necessary to ever use these jokers.

    Bottom Line: No, I would not recommend this to a friend

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  • 4 out 4 people found this review helpful

    Thank you for being so legit!!

    Best online short & long term lender out there! I have been dealing with them since January, I couldn't get a traditional loan anywhere because of credit but LendUp started me at $250 on short term and now I am at $400 short and I have a $800 long term.

    They never pull more money than they say and you can always depend on them being honest, answering the phone & quick response time

    Bottom Line: Yes, I would recommend this to a friend

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  • 5 out 9 people found this review helpful

    Point system

    • Modesto, CA,
    • Oct 20, 2016

    I am currently at the Gold Level with 7000 points and everything has gone smooth and effortless. I am impressed so far. However, Lendup freely states which loans are available at each level. But nowhere can I find what POINTS are needed to reach each level after the Gold level. This makes me obviously suspicious.

    Bottom Line: Yes, I would recommend this to a friend

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  • 14 out 14 people found this review helpful

    Impossible to work with

    • Dallas, TX,
    • Oct 18, 2016

    All I want to do is sign into my account to update my demographic and banking info and every time I do, they process a loan request without my approval.

    Obviously it cannot be completed because the information is wrong, so I am stuck in a cycle of unauthorized applications and unjustified denials, further damaging my credit score.

    You cannot contact LendUp, Credit Sesame or Credit Karma to actually speak to anyone who can help.

    Smells like a scam to me.

    Bottom Line: No, I would not recommend this to a friend

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  • 2 out 4 people found this review helpful

    Very helpful!

    • California,
    • Oct 13, 2016

    So easy and helpful, terms and rates are great! I've been using LendUp for a few years now and it only gets better. I have definitely recommended LendUp to my friends.

    Bottom Line: Yes, I would recommend this to a friend

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  • 27 out 34 people found this review helpful

    Avoid avoid avoid

    I believe they are shady and doing their up most to obtain peoples personal information. They tell me I am approved to get a lousy $220, I make near $3000 a month and just had to pay out a lot and needed a quick loan for a few days. Well I submitted everything, down to last year and this years tax documents for my company!

    Do NOT give this company your information they are a scam! I even screen shot a word doc of me asking them to call me or give me a number to call of course they avoided this doc completely. A complete waste of time DO not provide your details PLEASE! Also, they claim they will help you build your credit but watch for the small print where they tell you they can not.

    Bottom Line: No, I would not recommend this to a friend

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  • 26 out 29 people found this review helpful

    Credit card

    • New York,
    • Aug 22, 2016

    They wanted proof of income which I sent in several times to issue their credit card. I kept sending official documents which they said were not. I think these people collect info for their own benefit and use. Stay away from them.

    Bottom Line: No, I would not recommend this to a friend

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  • 22 out 26 people found this review helpful

    Not eligible

    I put in a wrong routing number so bank rejected my money and Lendup says I'm not eligible to re-apply. You guys are a sorry company.

    Bottom Line: No, I would not recommend this to a friend

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  • 23 out 29 people found this review helpful

    Good if you need money!

    • Florida,
    • Jul 12, 2016

    This is great loan if you have emergency situation and need to borrow some money. Process of getting loan is quick and simple. Website is very easy to navigate.

    If you want to rebuild your credit history, be alerted, that you have to gain points and climb the ladder in order to achieve that! And that benefit of having your activity to be reported to credit agencies is available only for these states right now: CA, KS, LA, MN, MO, NM, OK, OR, TN, TX and WY. They are definitely working to expand it and to cover all the states.

    Bottom Line: Yes, I would recommend this to a friend

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