Universal Credit: Personal Loan Review
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Personal Loan ReviewsUniversal Credit
Estimated APR
Min. Credit Score
Max. DTI 
Debt to Income Ratio
Origination Fees
Late Penalties
Prepayment Fees
This is a good loan option for people who don't have the best credit history but are actively working to improve it.
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Low minimum credit score requirement
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Debt consolidation discounts
Loan Amounts
Loan Terms
Time to Funding
Lender description Universal Credit is an online lending platform, not a traditional bank. It offers loans through its lending partners and is powered by fintech firm, Upgrade.
| Pros | Cons |
|---|---|
Only need a minimum credit score of 560 |  APRs as high as 35.93% |
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Multiple rate discounts available to consolidate high-interest debts |
Charges an origination fee of up to 8.99% of the loan amount |
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No co-borrowers allowed |
Do you qualify This is what Universal Credit looks for in qualified borrowers:| Credit history: One account and two years| Credit score: Minimum of 560 (FICO version 9)| Debt-to-income ratio: 75% (including mortgage payments and the loan you are applying for)| Income: No requirement. Lender will accept income from employment, alimony, retirement, child support, Social Security and other sources.
How to apply Prequalify on Credello online or apply through Universal Credit's web site.
Footprint UniversalCredit is available in 47 states. Loans are not available in states of Alabama, Iowa, South Carolina, West Virginia and District of Columbia.
Loan example A $10,000 loan with a 36-month term and a 28.47% APR (which includes a 22.99% yearly interest rate and a 7% one-time origination fee), you would receive $9,300 in your account and would have a required monthly payment of $387.05.