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What you need to know about this loan:
- Loan Amounts Offered: $1,000 to $50,000
- Loan Terms (monthly): 36 to 60 months
- Payment methods: Auto-pay, manual payments via online account, mobile app
- Interest rate: Fixed APR from 11.69% to 35.99%
Pros
- Check your rate with no credit impact: See your offer in minutes without affecting your credit score.
- Fast funding: Receive your funds within 1 business day after verification.
- No prepayment penalties: Pay off your loan early with zero extra fees.
- Fully online application: From quote to funding, everything is done digitally.
- Mobile account management: Access and manage your loan 24/7 via the Universal Credit app.
Cons
- Origination fee up to 9.99%: Deducted directly from your loan disbursement.
- Higher APRs for lower credit scores: Borrowers with weaker credit may face higher rates.
Why Choose Universal Credit for Your Loan?
Getting a personal loan through Universal Credit offers real advantages over traditional lenders like Wells Fargo, SoFi, LendingClub, Marcus by Goldman Sachs, and Upstart.
Unlike Wells Fargo, which often requires a full banking history and detailed financials, Universal Credit lets you check your rate with minimal input and no score impact.
Compared to SoFi, which tends to favor higher-income individuals with top-tier credit, Universal Credit is accessible to borrowers with a credit score starting at 580.
Where LendingClub may take several days to release funds, Universal Credit offers funding in as little as one business day.
Marcus by Goldman Sachs can be restrictive for self-employed individuals, while Universal Credit accepts various income documentation forms.
Lastly, Upstart uses AI-based pricing that may result in unpredictable rates—Universal Credit, on the other hand, sticks to fixed APRs for a clear payoff plan.
How to Apply for Your Universal Credit Loan
Checking your rate takes just 2 minutes, and won’t impact your credit. Simply enter your basic details, compare options, and choose the loan that fits your goals.