Universal Credit: Better Options for Good Credit Borrowers
- Max. Loan Amount
- $50,000
- APR
- 11.69% to 35.99%
- Min. credit score
- 580
Our verdict
Reputable lender with fast funding, but if you have good credit, you may be able to find more competitive rates and fees elsewhere.
Universal Credit offers personal loans between $1,000 and $50,000. It gets high marks from past customers, but you'll pay an origination fee between 5.25% to 9.99% on your loan. Not all lenders charge this fee, so if you have good credit, it may pay to shop around.
Best for: Applicants seeking fast funding who don’t mind paying an origination fee.
Pros
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Accepts credit scores of 580+
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Loan prequalification with soft credit check
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Funding as soon as one business day
Cons
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Origination fee between 5.25% and 9.99%
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APRs relatively high at 11.69% to 35.99%
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Only two repayment terms offered
Is Universal Credit legit?
Yes, Universal Credit is a legitimate lender. It’s backed by Upgrade and two banks: Cross River Bank and Blue Ridge Bank. Its privacy policy and other documentation are hosted on its website and contain details on the type of information collected and how it’s used.
Universal Credit is also accredited by the Better Business Bureau with an A+ rating and receives many positive reviews from past customers.
What makes Universal Credit shine?
Even though it charges an origination fee on its personal loans, Universal Credit gets high marks from past customers. Many praise the company for its easy application process and quick funding. Some customers mention that they were able to get a loan after being turned down elsewhere.
Unlike competitors like Marcus, Universal Credit accepts borrowers with credit scores as low as 580. You can also check if you qualify for a loan without dinging your credit score. And if you have questions or need help with your application, it has US-based support available by phone.
Where Universal Credit falls short
Like other lenders that cater to lower-credit borrowers, Universal Credit charges an origination fee. It deducts this fee from your loan at the time of funding — but you’ll still pay interest on the total amount, not the reduced amount you actually receive. If an origination fee is a deal breaker, it’s worth applying with personal loan lenders that don’t charge origination fees.
Also, its APR for the best credit borrowers starts at over 11% APR, which is higher than some other lenders. For example, LightStream offers personal loans with APRs starting at 6.94% with no origination fee, but you’ll need good to excellent credit to qualify.
How Universal Credit compares to other lenders
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Universal Credit loan details
| Loan amount | $1,000 to $50,000 |
| APR | 11.69% to 35.99% |
| Minimum credit score | 580 |
| Terms | 3 or 5 years |
| Approval turnaround | As soon as one business day |
| Fees | Origination fee of 5.25% to 9.99% Late fee up to $10 Returned payment fee up to $10 No prepayment penalty |
| Availability | All 50 states and DC |
Universal Credit contact information
| Phone number | 877-418-9765 |
| Customer service hours | Weekdays: 5 a.m. – 7 p.m. PT Weekends: 6 a.m. – 5 p.m. PT |
| [email protected] | |
| X, formerly Twitter | N/A |
| N/A |
Calculate your monthly loan payments
Want to know how much your personal loan might cost you? Simply enter the amount you’re borrowing plus the interest rate and repayment term into our calculator below.
Monthly repayment calculator
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| Total Cost | $ |
How to qualify for Universal Credit
Universal Credit discloses only basic eligibility requirements on its website, which include:
- Be a US citizen or permanent resident (or living in the US with a valid visa)
- Be 18 years of age or older (requirement is 19 in Alabama)
- Have a valid email address
- Have a verifiable bank account
How to apply
There are four steps to follow if you want to apply for a Universal Credit personal loan:
- Go to the Universal Credit website.
- Prequalify for the loan by filling out the form and providing your preferred loan amount, purpose for the loan, name, address, date of birth, etc.
- Receive loan offers, review them, then formally apply with a hard credit check.
- Accept the loan terms if approved and receive funds in as little as one business day.
Universal Credit reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 4.79 out of 5 stars, based on 406 customer reviews |
| Trustpilot Score | 4.7 out of 5 stars, based on 3,104 customer reviews. |
| Customer reviews verified as of | 09 May 2025 |
Universal Credit gets overwhelmingly positive reviews on sites like Trustpilot and the Better Business Bureau (BBB). On Trustpilot, the vast majority of reviews give the company a 5-star rating. And it gets a 4.85 out 5 rating on the BBB, which is unusual for a financial services company, with only a handful of complaints registered over the past three years.
Satisfied customers mention a fast approval process and quick funding times, as well as friendly and helpful customer service representatives.
Many of the negative comments seem to be from customers who confused this lender with Universal Credit in the UK, a government welfare benefit program with no connection to the US-based personal loan provider. Customers who left legitimate negative reviews mention being unhappy with higher-than-expected origination fees and scammers offering them loans while fraudulently using the Universal Credit name.
What do people on Reddit say?
The only post about Universal Credit (the loan provider) was a person asking if anyone else had experience with the company. There was just one comment on the post from a Redditor wanting an update because they were also considering Universal Credit. The OP then reported they didn’t get a loan from the company because their application wasn’t approved.
Frequently asked questions
What credit score do you need for Universal Credit?
It’s recommended that you have a credit score of 580 or higher, but you may find one of Universal Credit’s partners willing to lend to you with a lower score. You can see if you qualify without harming your credit, so it’s worth a shot.
What are the terms for a Universal Credit personal loan?
If you take out a loan from Universal Credit, you have either three or five years to pay it back.
How do you get a Universal Credit loan?
To get a loan through Universal Credit, go to the company’s website and provide some basic information to check loan offers. If you find one you like, complete a full application, consent to a hard credit check and sign your loan agreement once you’ve been approved.
Is Universal Credit trustworthy?
Universal Credit seems to be a legitimate loan matching service that’s accredited by the Better Business Bureau with an A+ rating. It’s backed by Upgrade, a well-known fintech company that has provided more than $37 billion in credit to over 6.5 million customers across the country.
Does Universal Credit get good reviews from past customers?
Yes, Universal Credit gets many positive reviews from past customers. More than 94% give the company either four or five stars on Trustpilot. It even has a staggering 4.79-star rating on the Better Business Bureau website, where customers typically go to lodge complaints.
Your reviews
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