How can an Upstart loan be more beneficial than a credit card?

Here are a few reasons why an Upstart loan can be more beneficial than a credit card:

  1. For many people, Upstart is able to offer lower rates, meaning that our borrowers save an average of 25% compared to their credit card rates*.
  2. Upstart offers fixed rates ranging from 9.56-29.99% APR, so the borrower's rate will never change through the life of the loan as it might with an open ended credit plan.
  3. Every borrower receives a fixed rate 3 or 5 year loan, meaning that you know exactly when you will pay off the obligation if you just keep making the same payments each month.
  4. Next day funding: Once a loan has been approved, the borrower usually receives funds in as little as 1 business day (except student loans which have a mandatory 3 day wait period required by federal law).
  5.  Upstart maintains an excellent customer service experience as seen by being top ranked on Credit Karma** and a high Net Promoter Score (NPS).

*Estimated savings are calculated based on the credit profiles of all loans originated as of December 2, 2017 in which the funds were used for credit card refinancing. Upstart calculates estimated savings by deriving current credit card APR using minimum monthly payment and 1% of the principal balance. Upstart then compares estimated credit card APR to Upstart APR to determine median savings per borrower. To evaluate savings on a loan you are considering, it is important to compare your actual APR from your existing debt to the APR offered by Upstart. **Credit Karma reviews:

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