Universal Credit Personal Loans Review 2022 – Forbes Advisor


The best personal loans offer competitive rates, flexible loan amounts, and a wide range of terms. Here’s how Universal Credit personal loans compare to other popular lenders:

Universal Credit vs Upstart

Upstart is an AI lending platform that connects consumers with personal loans based on non-traditional eligibility criteria. The minimum credit score needed to qualify is 600, which is slightly higher than Universal Credit, and the loan amounts are the same ($1,000 to $50,000). For eligible borrowers, the lowest interest rates start at around 5.5% – just below Universal Credit – and rates extend up to around 36%.

Related: Upstart Personal Loans Review

Universal Credit vs. Avant

Avant also imposes a low minimum credit score requirement – ​​just 580. The loan amounts available are lower than those offered by Universal Credit, however, and borrowers are limited to $2,000 to $35,000. Repayment terms vary from 24 to 60 months and APRs vary from around 10% to 36%. Avant also charges a 4.75% admin fee, which is slightly above the lowest setup fee possible. Universal Credit charges.

Related: Personal Loans Review Before

Universal Credit vs Upgrade

The upgrade powers Universal Credit and both are fintech companies that connect borrowers with loans through partner banks. Both companies offer identical personal loan products, with loan terms ranging from 24 to 84 months, loan amounts from $1,000 to $50,000, and the same APRs. Upgrade setup fees can be slightly higher than Universal, ranging from 2.9% to 8%.

Related: Personal Loans Review Upgrade

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