Frequently Asked Questions
Have a question? We have answers!
Can I update my banking information online?
If you don't currently have a loan out, simply click here and follow the instructions to enter your new bank account information.
If you need to update or change your banking information after a loan has been initiated, please e-mail our customer service team via the contact form and one of our representatives will assist you with your request. For your safety and security, please do not include your full bank account number or any other confidential banking information in your email. We will respond quickly to process your request.
What type of bank account can I use to apply?
In order to successfully complete the application for a loan with LendUp, you will need a valid checking account. If you would prefer to have the loan deposited directly into your checking account electronically, you will need an account that accepts both ACH debit and credit transactions. Most prepaid debit cards will not work. If you are unsure if your bank account accepts these types of transactions, please contact your bank. If you prefer to receive your loan proceeds in the form of a physical check, please follow the instructions during the application process.
I did not receive my email verification code, what do I do?
The email verification code is sent in the first LendUp email you receive, entitled “Welcome to LendUp.” If you did not receive this, please check your e-mail SPAM or junk folder. If you still do not see the e-mail verification code there, please contact us at firstname.lastname@example.org and we will assist you.
I did not receive my phone verification code, what do I do?
If you are certain that you did not receive a phone call with your code, please request the code again by clicking the button that says “Call with code” on the online application. We cannot email your phone verification code.
How do I check the status of my loan application?
Please log onto LendUp.com and you will find a customized dashboard that will contain your loan application status.
What is 15-Minute Transfer?
If your debit card is supported, you may select a third-party service that enables LendUp Loan funds to be transferred to your bank within 15 minutes of application approval. Your bank determines when the funds are available to you; usually it’s soon after your bank receives the funds, but it may be longer. 15-Minute Transfer is optional, and is not required for a LendUp Loan. Additional third-party fees may apply, depending on your state of residency. If an additional fee applies, we will provide an estimate of the amount of the third-party fees, but the actual amount may vary depending on your repayment schedule, changes to the outstanding balance that you and we may agree to, and other factors. Please note that if your debit card is not supported, you can still use the standard (ACH) process.
- A third-party fee may apply for 15-Minute Transfer in: AL, ID, IN, ME, MO, MS, NM, UT, WY, and OR
- 15-Minute Transfer is offered without charge in: CA, FL, HI, IL, KS, LA, MN, OK, SC, TN, TX, WA, and WI
- 15-Minute Transfer is not offered in: OH
When will my loan be deposited into my account?
If you choose the online deposit option at LendUp, here are the options that might be available to you:
- Standard/Next-Business-Day: We process approved loans and send the transaction to your bank (via ACH) at 5pm PST Monday through Friday (excluding federal banking holidays). Most banks will post the funds to your account by the next business day.
- 15-Minute Transfer: If you are using 15-Minute Transfer, your LendUp Loan funds will be transferred to your bank within 15 minutes of application approval. Your bank determines when the funds are available to you; usually it’s soon after your bank receives the funds, but it may be longer. For more information about the 15-Minute Transfer option, see the FAQ "What is 15-Minute Transfer?"
- Same-Day (Wells Fargo only): If you hold a Wells Fargo bank account, you are eligible to select our Same Day deposit service as long as you complete the application process before 11:00am PST. Your funds should appear in your bank account by 2:00pm PST the same day.
For the 15-Minute Transfer and Same Day deposit options, based on your state of residence, additional fees may apply that are owed in addition to any loans.
Why is LendUp a better alternative to Payday loans?
LendUp is a better alternative to payday loans for two reasons. First, it provides a safe and transparent loan if you need to borrow money quickly, with no debt traps. Second, there hasn't been any long term benefits for those that successfully repay their loans, in fact, you could argue the opposite. But with the LendUp Ladder, over time you can borrow more money, at lower rates, for longer periods of time (where available). That saves you time and money today, and for the future. We also have a goal to help you build credit. We know on-time payments may help you build your credit score, so we set up relationships with credit bureaus. The LendUp Ladder availability varies state-by-state, and if it is not in your state, we are working hard to change that. LendUp loans are offered exclusively online and on your mobile device so our service is convenient, fast and easy-to-use. We also offer free credit courses to learn about credit reports, credit scores, how credit cards work, and the essentials of saving. LendUp loans are designed to help you build credit, not keep you trapped in debt.
How do I know that this is a secure website?
It is always a good idea to make sure the website you are on is secure. You can verify this by making sure there is a green padlock in the upper left corner of your URL address bar, not simply a picture of a padlock or the word "secure" written on a webpage. You should also make sure the address bar says "https://" before the URL (note the "s" for secure sockets layer, or encryption). When you see both of these characteristics, all communication provided on the website you are on is encrypted and secure. LendUp is a secure website, so you should see the green padlock when you go to our site: https://www.lendup.com/.
In addition, you will notice that the identity of LendUp (Flurish Inc.) at San Francisco, California US has been verified by COMODO Extended Validation Secure Server CA.
Can I use LendUp to build my credit score?
Yes you can. But this is a very complex question to answer. LendUp has reporting relationships with many credit bureaus, including specialty credit bureaus used by many private lenders who provide loans such as online loans, auto loans, secured loans, etc. We also have reporting relationships with all three major credit bureaus, where FICO and Vantage Scores are calculated, traditionally known as the "big three." On-time payments are one of many factors that may help you improve your credit score. The LendUp Ladder provides credit reporting opportunities, and the top two levels, Platinum and Prime (where available), can and do report to the major credit bureaus. But LendUp is as an alternative to payday loans, designed to get you money quickly, teach you about credit, and to put you on a path to a better financial future. We do not recommend that you use LendUp solely to build your credit as it is an expensive form of credit and there may be cheaper alternatives, such as secured credit cards, or lines of credit from great non-profits such as Justine Petersen or members of the Credit Builders Alliance.
Where is LendUp based?
LendUp is based in San Francisco, California.
How do I contact LendUp?
Easy. All our contact information is available on our contact page.
Where is The LendUp Ladder available?
The LendUp Ladder is available at the following levels in these US States:
- Alabama: Silver; Gold
- California: Silver; Gold; Platinum; Prime
- Florida: Silver; Gold
- Hawaii: Silver; Gold
- Idaho: Silver; Gold
- Illinois: Silver; Gold
- Indiana: Silver; Gold
- Kansas: Silver; Gold; Platinum; Prime
- Louisiana: Silver; Gold; Platinum; Prime
- Maine: Silver
- Minnesota: Silver; Gold; Platinum; Prime
- Missouri: Silver; Gold; Platinum; Prime
- Mississippi: Silver; Gold
- New Mexico: Silver; Gold; Platinum; Prime
- Oklahoma: Silver; Gold; Platinum; Prime
- Oregon: Silver; Gold; Platinum; Prime
- South Carolina: Gold;
- Tennessee: Silver; Gold; Platinum; Prime
- Texas: Silver; Gold; Platinum; Prime
- Utah: Silver
- Washington: Silver
- Wisconsin: Silver
- Wyoming: Silver; Gold; Platinum; Prime
Why do we not have full ladders everywhere? Our goal is to have full ladders everywhere. Depending upon your state of residence, this process might require multiple licenses and different requirements including things out of our control like capital reserves or length of time in business. Our goal is to make this value proposition available in every state where we operate, and we are working hard to make this happen.
I just paid back my first LendUp loan. How can I apply for another loan?
You can check the status of your loan by logging onto our website. If the LendUp loan sliders are visible, you may customize another loan.
I would like to take out another LendUp loan, but when I login it says I still have to wait a few more days. Why?
You are only allowed to have one outstanding loan at a time. If you have already paid back your LendUp loan (thank you!), there is a waiting period of 3-4 business days. While we wish this were faster, the processing time is out of our control and required to ensure that your payment was successfully processed by your bank. Once they have notified us of the posted transaction, you will be able to take another loan.
I would like to pay back my loan early. What are my options?
You are able to submit your payment early using a debit card online. All you need to do is sign in to your LendUp account and click on the ‘Pay Now’ option. This must be done by 5:00pm PST the business day before the loan is due. There is an additional fee when using your debit card to cover the cost of the transaction, however there is no processing waiting time, so you can re-apply for a new loan instantly.
What does automatic repayment mean?
If you choose to have your loan deposited electronically, LendUp provides a convenient repayment scheduling, where you can select the date and LendUp will debit the owed amount from the bank account into which we deposited the funds as part of your loan. We will send you free text and email notifications in advance of your due date to remind of the upcoming withdrawal. You also have the choice of paying your loan off early using a debit card. This payment can be submitted online after signing into your LendUp account and must be made by 5:00pm PST the business day before your loan is due.
Will the automatic repayment be withdrawn from the same account it was deposited in?
Yes, our automatic repayment program will debit the same account to which the funds were deposited. We will debit the funds using the same transaction method we used to deposit the funds unless you pay early using your debit card.
If your loan was deposited through your debit card using the instant funding option, the loan will be debited from the same debit card account.
Something unexpected happened and I do not have enough money in my account to pay you back, what are my options?
If you cannot pay back your loan on your originally scheduled repayment date, LendUp offers a no-fee extension (where available) at the Silver level for up to the number of days you originally had available from the loan start date, typically 30 days for Silver level loans. For levels Gold and higher, we do our best to work with you on a case-by-case basis to help you make successful on-time payments.
What happens if I don't pay back my loan?
We want to keep you as a customer, so please make every attempt to pay us back on time. If you have not already, you can sign in to the dashboard and extend your loan for up to 30 days from the loan's initiation. If you have already extended your loan and still cannot pay us back, please contact us immediately at email@example.com.
If you are still unable to make your payment, the following things can occur:
- We will be forced to suspend your access to our lending service
- Involvement with outside collection agencies
- Possible legal action (if applicable)
- Reporting your account delinquency to multiple credit bureaus
We do our best to help our customers avoid these situations and the resulting consequences which can include: potential increases in fees from other banks, credit unions, auto loans, insurance, cell phone companies, etc. These organizations, and even some landlords, use this information to make judgements about the type of consumer you are, and not paying back a loan can have detrimental effects in other areas of your life.
Remember working with us is a better option than not paying back your loan, so please contact us at anytime. We want the best for you, so anytime you are having issues, let us know and we can work together on a solution.
I need more time to pay my loan back, what can I do?
LendUp offers no-fee extensions (where available) for up to 30 days from the loan start date, though specific terms may vary depending on your state. There is no penalty fee for for using this tool. To extend your loan, simply login to your dashboard at LendUp.com and click the 'extend' button. If the 'extend' button does not appear on your dashboard, this loan is not eligible for an extension.
Can I pay back my loan before the due date?
Yes! You can sign in to your account and click on the link that says, "Repay early with your debit card." This link is located on your dashboard underneath your loan repayment date. The debit card for the transaction is processed instantly and a confirmation message will immediately appear on your dashboard. You can then re-apply for a loan - if needed.
How do I check my account balance and due date?
Please log onto LendUp.com and you will find your customized dashboard that will contain your loan application status and/or all the details concerning your loan.
When will I see my LendUp loans on my credit history?
As you earn points and move up the LendUp Ladder, you move closer to the credit-building loans that are reported to the major credit bureaus. LendUp Platinum and Prime, where available, are the levels in which this feature is provided. Each individual bureau determines the exact timeline in which this information is recorded and displayed on your credit report.
Can I refer a friend?
Yes you can! You can send your friends a link that will enable them to submit an application for a loan through LendUp. Sign into your LendUp account and use the referral link to email your friends. Please make sure that they use the link to apply, otherwise we will not know that they have been referred by you! https://www.lendup.com/friend
If you have a question that is not on here and you think it should be, please submit it to FAQ@lendup.com