LendUp is one of the leading loan providers in the U.S.
What do we know about LendUp loans?
LendUp loan service was launched in 2012. It is currently available in 22 states, but offices in other states are constantly opening.
Is LendUp safe?
This question is among the most common ones among the customers. So, let’s find out more about loans like LendUp offers.
Consider the alternative options performed online:
Opploans is one of the lenders similar to LendUp. The company claims to provide affordable installment loans online and guarantee that applying to their service won’t have any effect on your FICO score.
OppLoans has a number of positive customer reviews, although the company doesn’t provide loans in all the states. Low APR is also a great feature that attracts a lot of consumers in need of a cash advance.
Just like with a LendUp installment loan, applying to OppLoans is safe.
The company guarantees that you won’t face any prepayment or hidden fees. The loan terms are up to 36 months.
Searching for the sites similar to LendUp, you will definitely find OppLoans as a good alternative. Check the company review or its website and consider if the service is appropriate for you.
And we are going further and overview the other safe online places like LendUp.
Personal Money Service
There many companies offering the same services like LendUp. One of them is Personal Money Service. This is a financial key to your emergent money needs and the best place to get a personal loan.
Unlike other websites like LendUp, this company is a loan connecting service. Its task is to help you find the most suitable loan for your needs.
The company doesn’t make the decision about your loan request. It’s up to the direct lender you are connected with.
With PersonalMoneyService.com, the application process takes less than 5 minutes and you will receive your answer from the lender shortly after that. If you select this service, you choose the ability to get an online loan whenever you need no matter where you are. See, companies like LendUp do exist.
With PersonalLoans.com, you can borrow from $500 and up to $35,000.
They are a marketplace, where a vast network of reputable lenders competes to offer the best possible loan option online. To determine consumer’s eligibility, the Company will do “soft” or “hard” pull on your credit score.
The repayment time frame is from 90 days to 72 months. However, they also offer installment loans where the repayment time frame is less than 6 months.
There are no hidden charges, set-up fees or membership fees connected with their service.
There is no specific loan APR since they work with lots of lenders like LendUp, who decide to set an APR on a specific loan amount and loan term (APR is regulated by the state law).
The great part is that your loan can be approved online within minutes. And with online systems available to take electronic payments, it’ll be easy to repay the loan.
Karrot is among the other companies similar to LendUp. It was introduced in 2014 by Kabbage Inc. and it takes advantage of the same success formula that Kabbage Inc. does.
It is concentrated on income and cash flow verification. To verify the income of the borrower, Karrot seeks access to the bank account and social network accounts. It provides loans worth $5,000 – $35,000 based on those details.
The repayment period is 36 or 60 months. Karrot does not lower your credit score. In order to apply, you need to verify your required loan amount and term.
Later on, the company will thoroughly check all your information. If your application is approved, you will get a loan as soon as the next day. As you can see, Karrot has loans similar to LendUp.
CreditLoan is another company offering loan solutions. It is a good LendUp alternative.
Like other LendUp competitors, CreditLoan helps to find a reliable provider for your loan. The borrower should fill one or more forms with private data.
The service then checks if your data meets its loan qualification criteria and, if it does, redirects you to a lender. Despite it offers payday loans like LendUp, the company is neither responsible for loan terms nor it warrants the consent of any application.
Are There Options Better than LendUp?
There are traditional and alternative loan companies like LendUp. Let us compare the traditional payday loans with Lend Up loans.
- Traditional loans often have extra fees and traps.
- If you do not pay the money on time, you may have to roll your balance over. This means taking out a new loan in order to pay the old one and paying on debts as a result. The more often you do it, the bigger the fee you have to repay will be.
- LendUp is opposed to rollover fees and does not require a fee for extensions (some LendUp personal loans include the possibility of a 30-day extension).
- The traditional payday loans providers lend small sums. You can return your loan from 7 to 14 days after getting it. It is difficult to pay it back so fast. If you fail, you have to pay the rollover fee. With LendUp loans online you have more time to repay your loan, and that is more cash-flow friendly.
Is LendUp Legit?
Lend Up loan is also a good option for those who need extra cash urgently, as it is deposited into your account on the very same day. The only issue is that you are charged $17 for every $100 borrowed plus the APR. To apply for such a payday loan with same day deposit, you should have a bank account, social security number, and income certificate.
Reminder! LendUp Alternatives:
Payday lenders like LendUp are the best option for the borrowers who plan to take a couple of loans, as it has a reward system. The company rewards responsible customers through the LendUp Ladder system.
Over a long period of time, you will be able to borrow larger sums with lower interest rates. If you are a new customer, you can only borrow $250. This sum will increase if you pay it back on time and you will get access to the LendUp installment loans. The interest rate will go down as well.
There are really many sites like LendUp, so you will always have plenty to choose from!
Photo credit: Finder.com, Lendedu.com, PersonalLoans.com, CreditLoan.com, PRWeb.com