LendUp Review vs. 6 Alternative Loans Like LendUp

LendUp Review

LendUp loans are highly rated amongst many across the internet. With only a handful of loans like LendUp available online, it's worth taking a closer look at what LendUp does and why they are so unique. 

When it comes to short-term funding, LendUp is a true specialist. They offer small loans that allow consumers to rebuild their credit score with ease. By completing payments on time and in full, consumers are capable of increasing their credit score. As you climb the LendUp ladder, you get to borrow larger amounts of money, thus allowing you to increase your credit score even faster. 

Since LendUp is among the most popular payday loan services online, we've decided to compare it against other leading lenders in the industry. Below you will find the top rated LendUp alternatives:

LendYou Review

lendyou

LendYou.com is one of the best alternatives to LendUp online. If you're looking for simple financing, you won't want to miss out on this option. They offer some of the lowest APRs in the industry and are capable of getting even bad credit scores approved almost instantly. As long as you're 18 years of age with some proof of income, LendYou will be able to get you approved.


Loan Amounts


$100 - $15,000

APR


4.99% - 450%

Time to Receive Funds


1 day

Eligibility Requirements


$800/mo. Income


Rating


LendYou Review

lendyou

LendYou.com is one of the best alternatives to LendUp online. If you're looking for simple financing, you won't want to miss out on this option. They offer some of the lowest APRs in the industry and are capable of getting even bad credit scores approved almost instantly. As long as you're 18 years of age with some proof of income, LendYou will be able to get you approved.


Loan Amounts


$100 - $15,000

APR


4.99% - 450%

Time to Receive Funds


1 day

Eligibility Requirements


$800/mo. Income


Rating


CashNetUSA Review

cashnetusa

CashNetUSA is the most recognized name when it comes to short-term loan options. With TV commercials and radio announcements, chances are you've heard of them before. They offer high interest APR rates, but this isn't such a big deal with most short-term loans since they get repaid quickly. Once approved, the funds get wired to your bank account the next day. 


Loan Amounts


$100 - $1,500

APR


187.33% - 912.5%

Time to Receive Funds


1 - 2 days

Eligibility Requirements


$1,000/mo. Income


Rating


CashNetUSA Review

cashnetusa

CashNetUSA is the most recognized name when it comes to short-term loan options. With TV commercials and radio announcements, chances are you've heard of them before. They offer high interest APR rates, but this isn't such a big deal with most short-term loans since they get repaid quickly. Once approved, the funds get wired to your bank account the next day. 


Loan Amounts


$100 - $1,500

APR


187.33% - 912.5%

Time to Receive Funds


1 - 2 days

Eligibility Requirements


$1,000/mo. Income


Rating

USANewLoan Review

usanewloan

USANewLoan is a well-known personal loan provider online. With over 4 years in business and thousands of loans funded to date, they have a great reputation. Proof of income is required when applying, but they do not rely on your credit score, making it the ideal choice if you're looking for simple funding that doesn't perform credit checks. USANewLoan has average APR rates for the industry and can fund as much as $15,000.


Loan Amounts


$100 - $15,000

APR


Average of 793%

Time to Receive Funds


1 day

Eligibility Requirements


$800/mo. Income


Rating


USANewLoan Review

usanewloan

USANewLoan is a well-known personal loan provider online. With over 4 years in business and thousands of loans funded to date, they have a great reputation. Proof of income is required when applying, but they do not rely on your credit score, making it the ideal choice if you're looking for simple funding that doesn't perform credit checks. USANewLoan has average APR rates for the industry and can fund as much as $15,000.


Loan Amounts


$100 - $15,000

APR


Average of 793%

Time to Receive Funds


1 day

Eligibility Requirements


$800/mo. Income


Rating


OppLoans Review

opploans

One of the of the great LendUp alternatives that also focuses on helping you rebuild your credit score, OppLoans is capable of providing you with no credit check loans. Eligibility requirements include a minimum monthly income of $1,000, at least 18 years of age and you also must have an open bank account in order to accept the wire transfer. Loans can reach as high as $4,000, but their APR rates are rather low.


Loan Amounts


$500 - $4,000

APR


59% - 199%

Time to Receive Funds


1 - 2 days

Eligibility Requirements


$1,000/mo. Income


Rating


OppLoans Review

opploans

One of the of the great LendUp alternatives that also focuses on helping you rebuild your credit score, OppLoans is capable of providing you with no credit check loans. Eligibility requirements include a minimum monthly income of $1,000, at least 18 years of age and you also must have an open bank account in order to accept the wire transfer. Loans can reach as high as $4,000, but their APR rates are rather low.


Loan Amounts


$500 - $4,000

APR


59% - 199%

Time to Receive Funds


1 - 2 days

Eligibility Requirements


$1,000/mo. Income


Rating


Slam Dunk Loans Review

slam dunk loans

If you're looking for long-term loans like LendUp, the other options may not be suitable for your needs due to their higher APR rates. However, Slam Dunk Loans has affordable APR fees and amazingly competitive loan terms. This makes it ideal when taking out larger loans that you plan on repaying with a longer timeframe. Loans vary between $200 to $2,500 depending on your credit, income stability and other basic eligibility data.


Loan Amounts


$200 - $2,500

APR


200 - 2,290%

Time to Receive Funds


1 - 2 days

Eligibility Requirements


$700/mo. Income


Rating


LionLoans Review

lionloans

If you're looking for long-term loans like LendUp, the other options may not be suitable for your needs due to their higher APR rates. However, LionLoans has the lowest APR fees around with rates as low as 7%. This makes it ideal when taking out larger loans that you plan on repaying with a longer timeframe. Loans vary between $300 to $5,000 depending on your credit, income stability and other basic eligibility data.


Loan Amounts


$300 - $5,000

APR


7% - 29.99%

Time to Receive Funds


1 - 3 days

Eligibility Requirements


$1,000/mo. Income


Rating


HonestLoans Review

honestloans

One of the best payday loan alternatives online, HonestLoans prides themselves in offering short-term loans without performing hard credit checks. HonestLoans has average APR fees for the industry, but most loans have a duration of roughly 30 days, meaning that you won't be paying that much in interest regardless of the APR. Loans vary between $200 to $2,500.


Loan Amounts


$200 - $2,500

APR


200% - 2,290%

Time to Receive Funds


1 day

Eligibility Requirements


$800/mo. Income


Rating


HonestLoans Review

honestloans

One of the best payday loan alternatives online, HonestLoans prides themselves in offering short-term loans without performing hard credit checks. HonestLoans has average APR fees for the industry, but most loans have a duration of roughly 30 days, meaning that you won't be paying that much in interest regardless of the APR. Loans vary between $200 to $2,500.


Loan Amounts


$200 - $2,500

APR


200% - 2,290%

Time to Receive Funds


1 day

Eligibility Requirements


$800/mo. Income


Rating


Best Loans to Rebuild Credit: 
LendUp

Overview: LendUp is one of the few lenders online that is capable of truly helping you rebuild your credit score rapidly. They have been in business since 2012, giving them roughly 6 years of experience. Many LendUp reviews are found online and most are positive. You begin by taking out a small LendUp loan and as you repay it on time, you get to take out larger loans moving forward. One of the best things about LendUp that isn't offered by very many other payday loan sites online is the ability to benefit from instant deposits. After being approved for your loan, you can expect to receive your loan in as little as 15 minutes.

Cost: The cost for taking out a loan with LendUp is roughly $17 per $100 borrowed.

Loan Amounts: LendUp loans are extremely low, starting at $250 maximum for first-time borrowers. The maximum amount anyone can borrow with LendUp is $1,000, making this a good solution for rebuilding your credit score, but not an ideal solution for borrowing money.

APR: The average APR rate for a LendUp loan is 36%-406%. However, this will vary depending on your credit score, proof of income and your other information provided while applying for the loan.

Loan Duration: LendUp loans have a maximum duration of 30 days.

Eligibility Requirements: Applying for a loan at LendUp will require you to provide basic information. In order to get approved, you will need to provide proof of citizenship (driver's license or equivalent photo ID), proof of income (recent pay stubs) and you must also have a valid checking account. LendUp will not perform a credit check, so you will not have to worry about damaging your credit when applying for one of their loans. 

Support Availability: You can contact LendUp via phone and email or you can fill out their contact form via their website. They also have a useful FAQ section on their site that allows you to find lots of information about frequently asked questions.

Best for Larger Loans:
LendYou

Overview: LendYou is the best option according to CompareSix when it comes to borrowing larger amounts of money. They offer personal loans as high as $15,000. Their APR fees start at 4.99%, making their rates the lowest in the industry, thus the best option for loans with a longer duration. However, they also allow you to take out shorter duration loans of smaller amounts, making them a versatile loans lender online. LendYou has been operating for over 4 years and they can wire the funds directly to your account in as little as 24 hours, regardless of the amount you're borrowing.

Cost: The cost for taking out a loan with LendYou is roughly $4 per $100 borrowed for long-term loans. 

Loan Amounts: LendYou loans are versatile and can vary from $100 all the way up to $15,000.

  • Cash Advance Loans: $100 to $1,000
  • Installment Loans: up to $5,000
  • Personal Loans: up to $15,000

APR: The APR fee will vary depending on whether you choose a cash advance loan, an installment loan or a personal loan. Here is a breakdown of the APR fees according to each loan type:

  • Cash Advance Loans: 200% and 1386%
  • Installment Loans: 6.63% to 225%
  • Personal Loans: 4.99% to 450%

Loan Duration: LendYou loans have a maximum duration of 35 days for cash advances and a maximum duration of 60 months for installment loans and personal loans.

Eligibility Requirements: When applying for a loan at LendYou, you will need to provide proof of income (recent pay stubs), photo ID, banking details so they can wire transfer the funds and you must be 18 years of age or older. LendYou cannot lend money to members of the Army, Coast Guard or Air Force.

Support Availability: You can contact LendYou via phone and email or you can fill out their contact form via their website. They also have a useful FAQ section. However, they do not offer live chat support.

What's the Cost of Taking Out Loans Like LendUp?

Borrowing money from sites like LendUp can get very expensive rather quickly. LendUp has a basic cost of $17 per $100 borrowed, which means you pay that plus interest. CashNetUSA is one of the loans that's very similar to LendUp as far as fees are concerned. They also have very similar loan amounts, durations and rewards, making CashNetUSA one of the top alternatives to LendUp when searching for an identical process. 

One thing to keep in mind when applying for loans like LendUp is that your credit score will determine your interest rate. While they state that they do not use your credit score to decide on the loan amount, they still view your credit score using a soft credit check in order to determine your interest rate and fees. 

One more useful thing to consider is that new-comers usually pay higher interest fees regardless of their credit. As you build trust with the lender, you will pay less interest for future loans. This is one very good reason to return to the same lender for future loans.

Different Types of Sites Like LendUp:

When borrowing money from sites like LendUp, you will need to consider whether they are a direct lender or a broker. This may not have a huge impact on the end result, but the application process will be a little different. 

  • Direct Lender: A direct lender is a company that funds the loans directly.
  • Broker: A broker is a company that works with private lenders and finds you the best rates by comparing numerous lenders.

Most brokers have automated systems that quickly compare the best lenders for your specific situation. The overall difference is that a direct lender may be able to funds your loan within minutes, whereas a broker may only be able to fund your loan within a day or two. 

While most people tend to prefer working with direct lenders, it's not a bad idea to use brokers, as they can often narrow down the selection in order to find even better rates. This could end up costing you much less in interest fees and you may even get approved for larger amounts of money simply by using a broker rather than a direct lender.

LendUp Reviews & Complaints:

Many LendUp reviews can be found online since they have been around since 2012. However, not all of the LendUp reviews are positive, which is why we've provided you with other alternative loans like LendUp. While researching for this article, we came across numerous LendUp complaints and negative reviews. Most notably, a press release mentioning how the Consumer Financial Protection Bureau required LendUp to pay over $3.6 million in fines for misleading practices. This type of incident is absolutely unacceptable when providing loan services online, which is the main reason why we decided to find other sites like LendUp. 

Feel free to leave your own LendUp reviews below by leaving a comment.