LendUp offers credit cards, loans, free financial education, and, where available, the opportunity to build credit, right from your phone.
LendUp offers a unique borrowing platform where you can rebuild your credit history as you move up the LendUp Ladder and take free financial education courses. Although you’ll be limited to small loan amounts at first, you can keep borrowing over time to help build your credit and get access to better loan terms.
LendUp loans follow a unique ladder system where borrowers may choose to improve their credit by successfully borrowing and paying back short-term loans. You can borrow anywhere from $100 to $250 your first time.
If you repay your loan successfully, you’ll be able to earn points and borrow more the next time you need money. You can also choose to complete free education courses offered by LendUp to increase the amount of points you have. This allows you to borrow more money at lower rates, and when you reach LendUp’s platinum and prime loan rungs, you can choose to have your credit reported.
Interest rates will vary based on your state of residence and how many times you’ve borrowed from LendUp. Your term could range from 7–30 days and depends on when you get paid.
LendUp loans have received positive mention from CNN, TIME, Wired and Financial Times. While these loans are essentially short-term payday loans, they come with a number of helpful features.
Once you repay your first loan, you can earn points that place you higher on the LendUp Ladder. If you’re eligible to move up the ladder, you may be able to borrow more money for a longer term and at a lower rate.