Upstart Personal Loans Review 2022: Artificial Intelligence-Driven Loans for Those With Fair or No Credit
Upstart is a popular online lender that touts itself as a lending platform powered by artificial intelligence designed to make affordable credit more accessible to borrowers through the power of technology. Founded by former Google employees, Upstart has originated $10.8 billion in loans, with 71% of them fully automated. Upstart says its personal loan interest rates are 10% lower than traditional lenders. Plus, the lender says it accepts 26% more applicants because it can evaluate nontraditional data when reviewing an application. That means borrowers who are new to credit could have a better chance at qualifying compared to other lenders.
What to Know Before Getting a Personal Loan
Personal loans can be a quick way to access cash, but it’s important to use them wisely. Before applying, you should know how you’ll use the money and create a plan for repaying the loan. Then, you should compare multiple lenders to find the best interest rate and loan terms.
When shopping for lenders, keep in mind your interest rate may differ slightly from the advertised rates. Read More