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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132 Consumer Reviews for LendUp

Average Consumer Rating: 2.9
Rating Snapshot:
5 star: 52 4 star: 8 3 star: 3 2 star: 9 1 star:  60
Bottom Line: 47% would recommend it to a friend
Showing 1-11 of 132
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  • 1 out 1 people found this review helpful

    They charge you fees without consumers knowledge or amount

    • Barstow, CA,
    • Sep 12, 2018
    • Verified Reviewer

    I have been doing business with LendUp for about 6-7 months. On each payday loan application I have filled out, there has always been a section that asks "when is your next pay date," you put in your date and continue with the application process. It has always made my repayment date the date I enter.

    Last month when at the grocery store, my bank card was declined. I called my bank and to my surprise, I see a negative $230 and LendUp made a withdrawal on a date I didn't choose. I have and will never make my repayment date in the same month I get a loan. I'm on a fixed income and they could see my repayment dates are basically around the same date the following month.

    I was advised by a LendUp rep to notify my bank and ask that the transaction be declined or do an unauthorized charge. I asked in doing this would this cause me a problem with LendUp and the rep assured me that a new payment date would take place and that once I repaid my loan it would then put me back in good standings and I could then continue to get payday loans. I paid off my loan a day later because early deposit came due to the holiday, but when I went to make my payment a past due charge had been applied to my repayment amount, having never been told this was going to happen and never told the amount that I was going to pay.

    Because of car repairs I had done, assuring me I could get another loan after they withdrew their money from my account, I was told I could no longer use that account and in order to get another payday loan I needed to open up a new bank account with a bank other than the one I use. Mind you, LendUp uses that same bank account to get their money.

    Because of the advice by one of their reps, I suffered a financial hardship because of misrepresentation and misinforming me, and the fact that my repayment date was altered. I became liable and suffered the consequences of their actions.

    Don't trust this company! I was told that there was no contact number for their corporate office, there were no supervisors available for me to speak with, they were unable to connect me with the rep I spoke with, and that there was nothing they could do except give it to their Resolution Dept, who did not have one word to say. I had no solution except she would submit a request for the return of the late fee but doubted it would be returned and ended our conversation with not even "I'm sorry," just stated there was nothing that could be done.

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

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  • 2 out 2 people found this review helpful

    Terrible! Another scamming company! Don't do it!

    • Florida,
    • Sep 5, 2018
    • Verified Reviewer

    Don't listen to fake reviews that say this is a good company! I was given pre-approved for $300 with no annual fee for the first year. On my card, I am being charged $59 annual fee. I called, and they said, "Sorry, sir we cannot do anything because you didn't enter the right code when you applied." Who pays $59 dollars for $300 on a card. I will give you the money then cancel because you guys are desperate. I will make sure no one I know or read this ever get this card.

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

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  • They have helped me

    • Los Angeles, CA,
    • Aug 31, 2018
    • Verified Reviewer

    I was looking for a way to improve my credit, as I had extremely poor credit rating some my fault, some out of my control. I did not want to apply for a secure credit card. They are very upfront about interest rates and everything is clearly indicated. They allow extensions which I have utilized once or twice. In the last year and a half, I have taken out short-term loans, took their education courses and progressed. At prime, taken out and paid off loans at a much lower rate. I recommend them because of their ease of use and nothing hidden, and they have helped me make progress in my personal situation.

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

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  • I received a small loan

    • California,
    • Aug 28, 2018
    • Verified Reviewer

    I received a Payday loan from LendUp. It was only for a $160.00. I received the money in my account fast, and they received their payment from me as they requested from me. The only thing that I have to complain about is that they didn't report it to the credit company, so my score would go up as they said they would.

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

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  • 6 out 9 people found this review helpful

    Not happy

    • New Jersey,
    • Jul 3, 2018
    • Verified Reviewer

    LendUp offered me a $3,000 loan, which I accepted. First, they wanted to clear my negative bank charges, which was only a few hundred dollars. They put $1800 in my account, which I had to give $1600 back of that before depositing my loan. I tried sending money through Western Union, but they suspected fraud. So LendUp asked me to purchase Google gift cards, and I did for $1600 (three for $500 and one for $100).

    Then I waited for the loan, which I never got, but they wanted to give me $5000 instead. They said that I had to pay state charges so again they would deposit $2,220 in my account. My bank TDA must have suspected fraud because at first I saw no activity, but then I looked and now my account is negative by $2,000.

    They are the only ones that had my online username and password, which I called the bank and changed.

    I will also inform the Better Business Bureau. I have my receipts for the Google cards as well.

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

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  • 4 out 6 people found this review helpful

    Confusing

    • Riverside, CA,
    • May 9, 2018
    • Verified Reviewer

    I applied for a loan on a Thursday morning and kept getting a message stating that "we’re experiencing some delays so we cannot process your application, service should resume shortly." Needless to say that two days later, the same message keeps popping up when they send me an email saying to complete your application. I tried contacting them and still haven’t received a response.

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

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  • 6 out 9 people found this review helpful

    Ripping one customer off at a time

    • Clintonville, WI,
    • Apr 20, 2018
    • Verified Reviewer

    They say you can pay your loan off with your debit card, but you can't. They keep giving you an error no matter how many different cards you try with money on them, and then they lock your account up the day it's due. This is the second time I've tried paying it off early, and it won't let me. It says I can pay by MoneyGram for, you guessed it, an extra fee. It's just a way to screw customers out of money.

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

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  • 4 out 5 people found this review helpful

    Scammers

    Someone opened an account in my name with this company. I may have been hacked through Facebook or another recently compromised online service or app. At the same time my PayPal, eBay, and both my bank accounts were hit with all types of bogus purchases.

    LendUp was far more clever...they deposited $200 into my bank, and have refused to cooperate in ending the bogus "payday loan." I have contacted LendUp by phone and email in regards to providing an address to send them their money, and have advised them repeatedly of this fraud, and to close the bogus account. LendUp reps on the phone have tried to gain further unneeded personal information from me, tried to get me to send them an "affidavit" on the matter, and are now trying to hit me for outrageous interest payments. I have refused to give them any information, and informed them that the only "affidavit" they are going to see is the one I fill out for the authorities, not them. Their "response" 1-855 number keeps asking me to provide the phone number to my account.

    I don't have an account with them, and cannot provide whatever phone number was used to set up the bogus loan, nor any password, or any other information they supposedly have associated with this fraud. This bunch of SCAMMERS are the only ones who have refused to cooperate in ending this nightmare. Never do business with these crooks!

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

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  • 5 out 6 people found this review helpful

    Horrible customer service

    • Reno, NV,
    • Mar 23, 2018
    • Verified Reviewer

    I applied online, and I got approved for $750 instantly. I received my credit card within a week, but I couldn’t use it because LendUp put restrictions on my card. Apparently, LendUp thought I was lying, so they wanted me to send them copies of my driver's license, all the utility bills, and my mortgage statement. I couldn’t believe they wanted me to jump through hoops for a stinking $750 credit card. Stay far, far away from this sorry company.

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

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  • 8 out 10 people found this review helpful

    So much for customer loyalty

    I've been getting loans from this company for 2 years. They had low interest and were always very dependable and helpful. I noticed the last couple of months they were getting less and less understanding about loan extensions. Their policy has always been that if you pay your loan off early with a debit card (plus a "convenience fee") that you could take out a new loan the next day. I did that tonight, and when I went to apply for a new loan, I got a message that they are no longer doing loans in my state.

    Of course, they got their money, and then they screwed me over. What a bunch of scam artists! Now I'm going to be late on my rent and can not afford food for the next 3 weeks.

    Thanks a lot, LendUp. I'm sorry I ever recommended you to anybody. I never will again.

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

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  • 9 out 11 people found this review helpful

    Poor, misleading marketing of their credit card

    I received an offer for this card. I applied and got declined. The reason given: too short of time with credit use. That's funny because I've been in the credit system for over 35 years. I think they are marking there cards to people who will carry a high balance so that they can charge high interest rates and fees. I call customer support and they could not address my questions. Credit score is 801.

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

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    Comments (1)
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    • Oct 26, 2017

      LendUp Representative, Customer Support

      Hi Michael,

      We're sorry we couldn't approve you at this time. Thanks for your interest in the L-Card.

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