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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123 Consumer Reviews for LendUp

Average Consumer Rating: 3.0
Rating Snapshot:
5 star: 51 4 star: 9 3 star: 2 2 star: 9 1 star:  52
Bottom Line: 50% would recommend it to a friend
Showing 1-11 of 123
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  • 1 out 2 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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  • 2 out 2 people found this review helpful

    Had a good experience with LendUp

    The s ite was easy to navigate, and they go back to me very quickly. I am hoping they increase my credit score like they claim and my rates come down. I know I don't have the best credit but trying to get through this hard time in life. I will definitely use them again.

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

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  • 2 out 2 people found this review helpful

    No complaints here

    • Spring, Texas,
    • Jul 17, 2017
    • Verified Reviewer

    So has anyone's credit actually increased after being reported to the bureaus? I have no complaints with LendUp and have never had any problems with receiving funds or paying them back.

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

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    • Jul 31, 2017

      LendUp Representative, Customer Support

      Hi It's me,

      We're happy to hear that you've had a positive experience with LendUp loans. Thank you for allowing us to be your partner on your path to better financial health!

      In regards to specific credit-reporting questions, please reach out to us at 855-253-6387, or email help@lendup.com and we will try to answer any questions you have about how our loans can help improve your financial situation. We also suggest you reach out to the credit bureaus directly for information on how each agency reports payments. We look forward to speaking with you!

    • Sep 4, 2017

      Lisa Marie Bivens

      Lendup Ladder is one of the BEST loan companies I have been to. They start you off with a low amount and as you take their education courses online and make your payments on time, you receive points and climb the money ladder. Which means the more points, the bigger the loan, and not only that but when you reach the platinum and prime level you are able to build your credit score, and mine went up by 100 points. I was so happy that Lend up actually changed my life for the better. You will not regret this trust me. Give it a try and you will see how awesome Lendup is. #KoolaideSmile

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  • 5 out 5 people found this review helpful

    Horrible, unresponsive customer service!

    • Branson, MO,
    • May 17, 2017
    • Verified Reviewer

    I've had a few loans with LendUp. At current, they owe ME money due to the fact I refinanced with my credit union and they were overpaid. I cannot reach anyone by telephone and am directed to their message portal on the website. It takes days for anyone to respond. I still do not have my money, and now no one will reply to my messages. It's been over a month now and nothing.

    Very unprofessional. I doubt they will ever refund what they owe me.

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

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    • Jun 15, 2017

      LendUp Representative, Customer Support

      Thank you so much for taking the time to provide us with feedback, we appreciate it.

      For security reasons, we can’t discuss account matters here. Please call us at 855-253-6387, email help@lendup.com, or send a message using the Contact Us form after signing into your LendUp Dashboard. We're open from Monday through Friday, 6 am - 5 pm PT. We look forward to resolving your issue.

    • Jul 16, 2017

      It\'sme

      I've been taking out loans with LendUp for a good while now. I've never had any complaints, and I haven't had to call them once about anything!

      My only concern is that I've heard that when you reach the level of them reporting to the credit bureaus, it shows up like a credit card that was maxed out and then paid off. I'm not sure if this will hurt my credit or help build it. I'm one loan away from platinum. I'm not sure if I should let them report it or not.

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  • 8 out 8 people found this review helpful

    Disappointed

    • Los Angeles, CA,
    • Apr 14, 2017
    • Verified Reviewer

    I took out two installment loans which I paid off early and never missed a payment. But in January of 2017, they changed the rules making it impossible to get a new loan despite my excellent history of paying it back. Apparently, the "ladder" points mean nothing. They told me my income was insufficient so I provided income showing my income increased. I was again denied for the same reason.

    They had website problems making it impossible for me to log into my account and kept saying they were "working" on it. LendUp is no different than other payday company. And they are impossible to reach by phone. So I contact them via email, and I get scripted responses. They don't seem to hear anything I'm saying. I'm done with them.

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

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    • Jun 4, 2017

      donald

      I paid off six installment loans now. They changed the rules making it impossible to get a new loan. I own installment loans and I stopped paying them because why should I take the time to pay it off if I cannot get another loan?

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  • 8 out 8 people found this review helpful

    Good experiences then bad.

    • Seattle, WA,
    • Feb 20, 2017
    • Verified Reviewer

    I took out several loans. Every single one was repaid on time.

    Today I sent in a current pay stub as requested. They tell me that I don't make enough money when in fact I'm basically making the same amount!

    The phone representative was hard to deal with and wasn't really listening to what I was saying. She said they get a recent pay stub before approving repeat loans, but that isn't true. Before, they would only ask for a pay stub every three months or so. Something has changed at LendUp and not for the better.

    I asked them to reconsider, but why beg to pay the high-interest rate? There are other lenders out there who offer better service without the hassle.

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

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  • 9 out 10 people found this review helpful

    Robbed

    • California,
    • Feb 10, 2017
    • Verified Reviewer

    I started using LendUp as a way to build credit. I made it to Platinum to finally report to credit bureaus. I paid every single payment on time, if not early.

    My last payment was taken out but shows as unpaid. This was TWO months ago. I called them numerous times, and they tell me the same thing, that there is a bug in the system and that they are working on it but don't have a solution and can't tell me when it'll be fixed. It's been TWO months, and it still says that I am past due, and the cost is rising each day.

    I never needed $250, so basically I feel like I gave them $80 a month in interest for nothing. I can't take out another loan until the last shows up cleared. Needless to say, I am done with these people.

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

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  • 8 out 8 people found this review helpful

    Disappointing

    The first couple of loans went well, but in January of 2017, they double debited my account for the loan payment. Then they left it showing as "processing" on the loan dashboard (and still is), making it look like the loan has not yet been repaid, even thought it cleared the bank over a week ago. In the meantime, I have no ability to apply for another loan (not that I would). Why they cannot update the dashboard is beyond me, but consumers should beware.

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

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  • 6 out 7 people found this review helpful

    LendUp does not provide all that they claim to

    • Chicago, IL,
    • Jan 30, 2017
    • Verified Reviewer

    The LendUp ad claims that you can climb the ladder, but if you live in certain states you cannot climb the ladder and cannot get a loan for more than $300.

    They would not allow me to extend the date of my loan repayment more than 13 days when there are state restrictions in place that say that loans cannot be under 14 days. The site constantly has malfunctions where they make it impossible to upload documents. Trying to talk to someone on the phone is almost impossible, and if you do happen to get someone they give you the runaround.

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

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  • 9 out 9 people found this review helpful

    Be careful

    • Alta Loma, CA,
    • Jan 30, 2017
    • Verified Reviewer

    So I did a few loans with LendUp and everything was good for the first two loans. On the third loan, though, they took their payment and on the next day, they took ANOTHER PAYMENT out of my account! I called them, and all they could say is "sorry, we are working on it." Meanwhile, I am out $292.80.

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

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  • 9 out 11 people found this review helpful

    Great alternative to the quick loan places

    • Camarillo, CA,
    • Jan 29, 2017
    • Verified Reviewer

    I've had no issues with LendUp. I have less than stellar credit and was unable to qualify for a loan anywhere but through LendUp and one other place. The other place was willing to give me $200. However, it was an installation loan, and at the end, my total to payback was $3234.32! How is that even legal? Of course, I said no.

    But LendUp was amazing, and I only had a minimal charge. They send you numerous reminders when your payment is due, all of them asking if you need an extension. They seem to want you to succeed, whereas the Payday Loan places want you to fail so they can collect more fees. I've had a few loans with LendUp now (all in my account within 24 hours), and I've paid them all back without issue. I would recommend this to anyone who needs a bit of cash help.

    It does seem like the negative reviews are from people who were either using the service to build credit or people who tried to pay back the loan early. I've never tried to pay early I just let it clear through my account, and I'm not to the credit building portion yet. So my review is purely for the fact that if you need cash, they give you cash. They deposit and deduct it as soon as they say they will, and they are reasonable.

    This service was exactly what was right for me. So of you're using it to rebuild credit I suggest reading some more reviews from consumers who've used the service for that purpose.

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

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