Universal Credit personal loan review

Do you want to learn about all the features of the Universal Credit personal loan? At Responsible Economy, we present you with all the characteristics that Universal Credit loans offer, along with a comparison to the best personal loans for bad credit scores. Let’s get started!


In this section, we analyze in detail all the features:


After your loan gets approved, Universal Credit imposes an origination fee that spans from 5.25% to 9.99%. This is quite a negative aspect, as it means we’ll have to pay back a significant portion once the loan is approved.

The good news is, you won’t have to worry about any prepayment fees.

Interest rate

The interest rate for the loan varies between 11.69% APR and 35.99% APR. Even the lowest available interest rate is quite high. Most banks and financial institutions offer a lower minimum interest rate.

The interest rate will depend on factors such as credit score, loan purpose, requested amount, repayment period, and other considerations taken into account by Universal Credit.


You have the option to repay the loan over a period of 3 to 5 years.


You can request a minimum amount of $1,000, and the maximum is $50,000. These numbers are advantageous, especially when compared to the considerably higher minimums required by many banks.

Credit score

Universal Credit does not provide information about a minimum credit score. You can apply for a soft credit to see your interest rate without it affecting your credit score.

Summary table

Here is a summary table with al features:

Interest Rate11.69% APR-35.99% APR
Terms3-5 years.
Amounts– $1,000-$50,000
Credit Score560
Universal Credit features

Best personal loans

We have created a comparative table of Universal Credit with the best personal loans for bad credit score. You have the key features of each loan:

Logo SoFi loans
  • APR: 8.99-25.81%
  • Terms: 2-7 years
  • Amount: $5,000-$100,000
  • Credit Score: no
Logo LightStream loans
  • APR: 7.99-25.49%
  • Terms: 2-12 years
  • Amount: $5,000-$100,000
  • Credit Score: 660
Logo Upstart loan
  • APR: 6.50-35.99%
  • Terms: 3-5 years
  • Amount: $1,000-$50,000
  • Credit Score: no
Logo Happy Money loans
  • APR: 10.50-29.99%
  • Terms: 2-5 years
  • Amount: $5,000-$40,000
  • Credit Score: 640
Logo upgtrade loans
  • APR: 8.24-35.97%
  • Terms: 2-7 years
  • Amount: $1,000-$50,000
  • Credit Score: 560
Best Egg loan
  • APR: 8.99-35.99%
  • Terms: 3-5 years
  • Amount: $2,000-$50,000
  • Credit Score: 600
Logo Universal credit loans
  • APR: 11.69-35.93%
  • Terms: 3-5 years
  • Amount: $1,000-$50,000
  • Credit Score: 560
Logo Discover personal loans
  • APR: 6.99-24.99%
  • Terms: 3-7 years
  • Amount: $2,500-$40,000
  • Credit Score: 660
logo rocket loans
  • APR: 9.116-29.99%
  • Terms: 3-5 years
  • Amount: $2,000-$45,000
  • Credit Score: 640


We have compiled a list of all the advantages of Universal Credit loans:

  • Checking your rate won’t affect your credit score
  • No prepayment fees.
  • Up to $50,000.


You also have a list of all the negative features of Universal Credit loans:

  • Very high highest interest rate.
  • Origination fees


The minimum requirements to obtain a personal loan with Upgrade are:

  • Being a resident of the United States.
  • Being over 18 years old.
  • Completing the online process
  • Having stable and steady income.

Loan Calculator

We’ve created a customized loan calculator that offers a transparent breakdown of your interest payments. This tool empowers you to conduct various calculations, aiding in effective planning and reducing interest costs. Utilizing this smart approach has the potential to result in significant long-term interest savings:

Universal Credit Loan Calculator

Universal Credit Loan Calculator


After conducting our analysis, our personal opinion is that loans from Universal Credit are only advisable if you manage to secure the lowest interest rate available. However, we must note that achieving this is quite challenging. The maximum interest rate is also quite high.

Here you have related content about personal loans:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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