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Upstart Personal Loans Review 2022 – Forbes Advisor

Upstart Personal Loans Review 2022 – Forbes Advisor
Written by Publishing Team

The best personal loans offer competitive rates, flexible loan amounts and a wide range of terms. Here’s how the personal loan upgrade stacks up against other popular lenders:

cocky vs. Development

Upstart and Upgrade are designed to be able to lend to borrowers with less than good credit. While Upstart’s recommended minimum credit score requirement is 600, Upgrade’s is 580. If you qualify for Upstart, you may be able to take out larger loan limits—up to $50,000. However, Upstart offers only two terms – three and five years – while the upgrade offers terms of between two and seven years. The best provider for you depends on how much money you need to borrow and how quickly you want to pay it off.

Related: Upgrade Personal Loan Review

cocky vs. Avant

Similar to an upgrade, Avant’s minimum recommended credit score is 580, 20 points lower than Upstart. Again, this makes it a solid option for borrowers who don’t have excellent credit but still need to get financing. Moreover, Avant offers more payment options compared to Upstart. If you are approved for a loan from Avant, you will have access to terms of between two and five years, depending on your credit score and other factors.

Related: Avant Personal Loan Review

cocky vs. Wells Fargo

Unlike Upstart, which is an online lender, Wells Fargo is a traditional bank. It’s usually a good idea to apply for a personal loan through a bank like Wells Fargo if you have an existing relationship with it. Wells Fargo offers personal loans ranging from $3,000 to $100,000 with terms ranging from one to seven years. Wells Fargo does not have a minimum credit score recommendation, so you may place more weight on other factors such as your current relationship with the bank, your debt-to-income ratio (DTI) and monthly income.

Related: Wells Fargo Personal Loan Review

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