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Credit Cards

LendUp Credit Card Review

Updated Feb 28, 2022   |   5 mins read

LendUp Card Services has transitioned to Mission Lane. Therefore, some of the information in this review may currently be out of date.

LendUp Card

LendUp Card
on LendUp’s secure website
Editorial Rating

LendUp Card

Editorial Rating

What we like:

No minimum deposit needed

Intro OfferNone
Rewards RateNone
Regular APR19.99% – 29.99%
Annual Fee$0
See how this card stacks up to our top rated secured credit cards

When LendUp first began, its main mission was to provide loans to people who wouldn’t normally be approved. The company’s motto is “Ladders Not Chutes,” meaning it helps people get the money they need without burying them in debt.

In the beginning, LendUp was mostly viewed as a safer alternative to payday loans; however, it issued its first credit card in 2016, providing yet another option for consumers in search of credit.

Are You a Good Candidate for a LendUp Credit Card?

LendUp targets people with no credit, as well as those who are rebuilding their credit. The main target market consists of the emerging middle class.

This group has been hit hard with subprime lending, and LendUp hopes to offer them a more affordable option.

People who aren’t approved for other cards might be approved by LendUp. It’s a solid option for those with lower-than-average credit scores.


  • Min APR: 19.99%
  • Max APR: 29.99%
  • Balance Transfer: N/A
  • Cash Advance: N/A


  • Annual: $0
  • Late Payment: N/A
  • Balance Transfer: N/A
  • Foreign Transaction: N/A

Benefits of Using the LendUp Card

LendUp reports to the three major credit bureaus, allowing people to rebuild their credit. Those who have shaky credit histories can begin the process of improving their scores with the LendUp credit card.

They can do so without paying high fees. Many credit cards geared toward people with below-average credit scores are full of fees, but that is not the case with the LendUp credit card. LendUp doesn’t charge over-the-limit fees, and cardholders do not pay a security deposit.

People with below-average credit often have some difficulty paying their bills on time, so they are happy to hear that LendUp offers a 14-day grace period. At the end of the grace period a late fee is assessed, but it won’t be more than $7. This is significantly lower than the typical late payment fee on a standard credit card.

The card also includes access to a mobile app that helps people stay on track with their finances. It provides users with financial education and incentives to hold on to their money. It also explains the importance of paying off their balance. People can receive an important education when they use the app.

Potential cardholders also get an immediate credit decision when they apply for the card. Those with less than stellar credit often have to wait for decisions when applying for credit cards. However, they find out immediately with LendUp.

Most importantly, this card is completely transparent. There are no hidden fees. People know exactly what to expect when they use the card. This is a relief for people who’ve been stuck with hidden fees in the past.

Drawbacks of LendUp Credit Cards

Some users have to pay a monthly fee when using this card. The monthly fee caps out at $5 a month and depends on the creditworthiness of the cardholder.

The interest rates are higher than the national average for the LendUp credit card as well. The average APR for all credit cards hit 16.14 percent in 2017. The APR for LendUp’s credit card is quite a bit higher. It goes from 19.99 to 29.99 percent. It never goes over 29.99 percent which is the penalty APR.

However, it does seem acceptable to pay a higher-than-average interest rate when people have no or poor credit. It is difficult to find a credit card for people with poor credit that has a low interest rate. The card company is assuming a risk by issuing the credit, and it mitigates that risk by charging high interest rates.

The credit line is relatively small with this card. It starts as low as $300 and as high as $1,000. However, the credit line can as much as double after a year of use. On-time payments are a way to get the line to increase at the end of a year.

How to Apply

LendUp only accepts applications on a limited basis. Those who receive an offer in the mail are invited to apply online. They need to enter their 12-digit offer code to unlock the application. After they fill out the application they should receive a response immediately.

Those who have yet to receive an offer code can get updates via the LendUp site. They should enter their email address so LendUp can notify them if they begin accepting applications.

Bottom Line

Those who need help rebuilding or establishing their credit can benefit from the LendUp credit card. It is transparent, so people don’t have to worry about being taken advantage of while rebuilding their credit.

The low fees allow people to rebuild their credit without ending up drowning in debt, and the low credit line can even be a benefit. People aren’t likely to get in over their heads with a LendUp credit card.

If you are interested in LendUp’s personal loan product, which can also help you build your credit, check out our original LendUp Review.