In this Comparison
Prospective borrowers who are assessing their different options will have tons of online lenders to choose from.
Two of the leading options on the market today are Upstart and Happy Money.
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APR Range
The annual percentage rate (APR) is the total annual cost of borrowing money. This rate includes the interest rate as well as any additional finance charges. When you take out a personal loan, for example, you may be required to pay loan origination fees.
| 11.52% – 24.81%
| 5.20% – 35.99%
|
Term
The term of your loan is the amount of time you have to repay it. For example, if you get a 24 months personal loan, the loan term is 24 months.
| 24 – 60 months
| 36-60 Months
|
Loan Amount | $5,000 – $40,000
| $1,000 – $50,000
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Min Score | 600 | 600 |
When to Consider Happy Money Personal Loan?
When to Consider Upstart Personal Loan?
Requirements
Upstart will have an ideal minimum loan size of $1,000 and a max loan size of $50,000. In comparison to Upstart, Happy Money has a high minimum loans size of $5,000 and it offers a max loan worth $40,000.
Thanks to the AI system that Upstart utilizes, it can often cater to people who have low credit scores. If you do have a FICO score, it will accept applications from people with scores of 600 or more. If you do not yet have a credit score, Upstart will still consider your application. Like Upstart, Happy Money will accept applications from people with a credit score of at least 600.
Upstart does require applicants to have a gross annual income of $12,000 or more. To get a Happy Money personal loan, you need to showcase three years’ worth of credit history.
Both Happy Money and Upstart need you to be at least 18 years old in order to get a personal loan, as well as either being a US citizen, visa holder, or permanent resident.
Repayment Options
You can choose between a three-year and five-year repayment term with Upstart. There is the ability to alter your payment due dates, as well as debt consolidators being able to directly pay creditors with both Upstart and Happy Money.
You will not have to pay a prepayment penalty if paying off your loan early with these lenders and Upstart and Happy Money both do not currently offer any sort of autopay discount.
Customer Experience
Upstart | Happy Money | |
|---|---|---|
iOS App Score | N/A | N/A |
Android App Score | N/A | N/A |
BBB Rating | B+ | A+ |
WalletHub Rating | 4.2 | 4 |
Contact Options | phone/mail | phone/mail |
Availability | 6 am – 5 pm (PT) | 6 am – 6 pm (PT) |
Upstart outlines its AI-based process on its website, as well as offering some useful information about personal finance. You can reach the support team every day of the week, the mobile app does not currently give you the option to manage your Upstart personal loan. The online lender currently has a B+ Better Business Bureau rating.
Like Upstart, the Happy Money customer service team is reachable every day of the week in numerous different ways. Happy Money also looks after all of the financial education needs of its customers.
Like Upstart, you cannot manage your Happy Money personal loan through a mobile app. Finally, the Better Business Bureau rating for Payoff is A+.
Which Personal Loan Lender Wins?
Both Upstart and Happy Money cater to people with relatively low credit scores and they offer flexible repayment terms.
Upstart will be better suited for people who want a smaller loan size or for those people who do not yet have a credit score. Happy Money is an ideal option if you want to minimize your fees.
|
|
| |
|---|---|---|---|
APR Range
The annual percentage rate (APR) is the total annual cost of borrowing money. This rate includes the interest rate as well as any additional finance charges. When you take out a personal loan, for example, you may be required to pay loan origination fees.
| 11.52% – 24.81%
| 5.20% – 35.99%
| 6.99% – 35.99% |
Term
The term of your loan is the amount of time you have to repay it. For example, if you get a 24 months personal loan, the loan term is 24 months.
| 24 – 60 months
| 36-60 Months
| Compare Various Lenders |
Loan Amount | $5,000 – $40,000
| $1,000 – $50,000
| Up to $100,000
|
on Happy Money website |
on Upstart website |
on Credible's website |
Read More Reviews
Avant
Best Egg
CitiBank
Credible
Discover
Payoff
LendingPoint
LendingTree
OneMain Financial
RocketLoans
SoFi
Upgrade
Upstart
Wells Fargo
Compare Alternative Lenders
SoFi primarily serve people with good credit, whereas Upstart will serve people with poor or no credit. When it comes to providing quick access to funds, Upstart will be faster, while SoFi will offer autopay discounts.
Read Full Comparison: Upstart Vs SoFi: Which Personal Loan Is Best?
Avant is best suited for people with bad credit, whereas Upstart offers small loans and quick funding. Finally, Achieve is appropriate if you require a large loan or a joint loan. When compared to one another, each of these lenders has advantages and disadvantages.
Read Full Comparison: Achieve Vs Upstart Vs Avant: Choose The Right Personal Loan
Both of these lenders make it possible for people with bad credit to obtain a personal loan. OneMain's offering is a little more limited, with loans that are relatively smaller in size but with more flexible repayment term lengths.
Read Full Comparison: OneMain Vs Upstart: Compare Personal Loan Providers
Each of these three lenders shares and differs in some ways. In general, Upstart is the best option for people who need a small loan or who may not be able to obtain a FICO score. Rocket Loans is a viable option if you need quick access to borrowed funds, whereas Prosper allows you to get a joint loan and caters to people with fair credit.
Read Full Comparison: Rocketloans Vs Prosper Vs Upstart: Which Personal Loan Is Best?
Upstart is one of the more notable online lenders because it employs artificial intelligence (AI) to guide the process of evaluating applications. As a result of this system, it frequently deals with people who have relatively low credit scores, or even those who do not yet have a credit score.
Best Egg is an online lender that has received numerous awards in recent years for its service, which includes quick approvals and competitive rates. Marcus, a Goldman Sachs offering, is one of the most reputable online lenders you will come across. It promises no-fee personal loans as well as a variety of loan types.
Read Full Comparison: Upstart vs Best Egg vs Marcus: Compare Personal Loan Lenders
Each of these lenders caters to people with less-than-perfect credit. If you need funds quickly, LendingPoint is probably the best option, while Upstart is a good fit for people looking for small loans.
Finally, if you are looking for a joint loan or want to get some of the most competitive rates, LendingClub stands out.
Read Full Comparison: LendingPoint vs Upstart vs LendingClub: Which Personal Loan Suits You Best?
Upstart is a one-of-a-kind proposition because it employs an artificial intelligence (AI)-based system rather than relying solely on FICO scores. The Consumer Financial Protection Bureau has determined that it is a reputable lender. Upstart is a good option for people who do not have a long credit history and who need funds quickly.
SoFi has been in business since 2011, and in that time it has served over 2.5 million people and funded loans totaling more than $50 million. It is regarded as one of the best in the industry and an excellent choice for those with excellent credit.
Read Full Comparison: Upstart Vs SoFi: Which Personal Loan Is Best?
Upgrade has been in operation for over 15 years and has served the needs of millions of customers during that time. It provides its borrowers with a high level of flexibility as well as a wealth of excellent educational resources.
Upstart takes a different approach than most online lenders because it heavily relies on artificial intelligence (AI) in its operations. Upstart accepts people with low credit scores and will quickly disburse your borrowed funds.
Read Full Comparison: Upstart Vs Upgrade: Which Personal Loan Is Best For Your Needs?
Happy Money focuses on improving its borrowers' financial knowledge while also providing them with maximum repayment flexibility.
If you need quick access to funds and a variety of loan types, Upgrade is the best option of these three lenders. Finally, if you need a joint loan or have a low credit score, LendingClub is a good option.
Read Full Comparison: Happy Money Vs LendingClub Vs Upgrade: Choose The Right Personal Loan
Each of these three lenders will be appropriate for a different type of person. OneMain is generally beneficial for accepting applications from people with less-than-perfect credit.
SoFi, on the other hand, caters to people with good credit who are looking for large loan amounts. Happy Money is somewhere in the middle, and it gives you quick access to your borrowed funds.
Read Full Comparison: Happy Money Vs SoFi Vs OneMain: Compare Personal Loan Providers
All of these lenders have some things in common, such as similar credit score requirements. There are, however, some significant differences that you will notice.
Prosper is a great option for people looking for a small loan, whereas Happy Money is better suited to applicants looking to minimize fees. Finally, if you want to get very competitive rates, Peerform is a good option.
Read Full Comparison: Peerform vs Happy Money vs Prosper: Which Personal Loan Is Better?
Over the years, Discover has earned a good reputation for not charging origination fees, offering flexible repayment options, and providing quick funding. Upgrade has been in the personal loan business for many years, serving over 500,000 customers and originating $7 billion in loans. It gives you quick access to funds as well as flexible repayment terms.
Finally, Happy Money is a financial wellness company that wants its customers to have a positive relationship with money.
Read Full Comparison: Upgrade Vs. Happy Money Vs. Discover: Which Personal Loan Suits You Best?
Axos Vs Marcus Vs Discover
Best Egg vs RocketLoans vs Upgrade
Citi Vs Discover Vs Wells Fargo
Credible vs LendingTree
FIGURE Vs SoFi Vs Prosper
OneMain Vs Avant Vs LendingClub
Happy Money Vs SoFi Vs OneMain
Rocketloans Vs Prosper Vs Upstart
Rocketloans Vs SoFi Vs Marcus
SoFi Vs Discover
SoFi Vs PenFED Vs Axos
Upgrade Vs Happy Money Vs Discover
