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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108 Customer Reviews for LendUp

Average Customer Rating: 3.0
Rating Snapshot:
5 stars: 46 4 stars: 8 3 stars: 2 2 stars: 5 1 stars: 47
Bottom Line: 51% would recommend it to a friend
Showing 1-11 of 108
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  • 2 out 2 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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  • 3 out 5 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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  • 11 out 11 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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  • 1 out 1 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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  • 23 out 30 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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  • 22 out 25 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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  • 19 out 22 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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  • 20 out 25 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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  • 43 out 48 people found this review helpful

    Don't go there!

    It was the end of the month and I needed money for meds. I applied and was approved in about 10 minutes. I received an email saying the funds were in my bank account. It never was received by my bank. I contacted them and told them what was going on. They blamed my bank and then told me it could take four more days to post and if I hadn't put my account numbers right it wouldn't process and I would have to wait.

    I told them if it was 4 more days I wouldn't need the loan because my check would be there on the 1st. My bank told me that they couldn't do anything until they at least had a transaction number. In the mean time, I received a email saying my loan wasn't approved. So I contacted them again they still blame my bank and would not address the email saying I wasn't approved.

    When I went to their website my account info would not show up and would not confirm any account numbers. They won't cancel my loan they say I have to wait. I feel this is because they won't receive their share. I don't need the loan now tomorrow is the first and will have my pension check deposited but they won't cancel the loan and I have tried to cancel it for 2 days now. I still don't have the money and have to wait to see what happens if my money was deposited in someone else's account. It could take up to three weeks to straighten out.

    Stay away from this. I think you should be able to see your information when you need to. And they don't care if you have problems as they are hard to contact and still don't do anything. I feel they are a scam!

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

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  • 41 out 45 people found this review helpful

    Glorified pay day loan company

    • Petal, MS,
    • Jun 17, 2016

    A friend referred them to me awhile back and I decided to try it out mainly to rebuild my credit so I started climbing the lend up ladder. Here's how they get you. Apparently Platinum and Prime levels aren't offered in any states and that's where you have to get before they report it to the credit bureau. I should be at prime level with the points I have and when I messaged them they said platinum and prime wasn't offered in my state but they were working on it. I called them out on it.

    I asked them if those levels aren't offered in my state, how could you give me a loan period? That's how they abuse hard working, lower class people.

    What a waste of money and time and ruined my hopes of rebuilding my credit through them. Find other means of rebuilding your credit, this is a poor company and it's just flat out wrong of them to do what they're doing.

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

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  • 27 out 33 people found this review helpful

    Make sure your bank has the same deposit info

    I applied for a loan and was approved! I didn't realize my bank had different deposit numbers than the ones that were on my check! I kept waiting for the funds and finally called my bank. They indicated they had a different account number for company deposits. How was I to know that when this was the first time I had ever had a deposit made like this to my account? I received an email stating they would not do Business with me anymore.

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

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