Oxford Gold Group

Educational Focus and Mission

Oxford Gold Group stands out for its unwavering commitment to educating individuals about precious metal investing. This section delves into the brand’s mission, emphasizing its belief that this form of investment should be accessible to everyone seeking to secure their retirement. The focus on providing high-quality resources ensures that clients can make informed decisions about their financial future.

Upstart Qualifications

1. Minimum gross income of $12,000
2. Proof of employment or regular income
3. No minimum credit score or credit history required
4. Valid U.S. address and email address
5. Bank account with a U.S. routing nm

Who Are Personal Loans For?

Personal loans are installment loans provided by banks and other financial institutions to consumers who meet predetermined lending criteria. Most lenders specialize in working with borrowers across different credit scores and financial positions.

Most personal loans are either secured or unsecured. Secured loans have collateral attached to them, such as a bank account, a car, or another asset that can be sold to guarantee the lender will not lose money in case of default.

Unsecured loans are more common because they are easier to underwrite and often carry higher interest rates to offset the financial institution’s lending risk.

Debt Consolidation

Personal loans are often excellent tools for consolidating high-interest debt and tying many smaller lines of credit into one simple monthly payment. For example, many credit cards have interest rates above 20%, and revolving credit lines can continue to grow if left unchecked. By consolidating a handful of credit cards into a personal loan, borrowers can lower their overall interest paid and potentially save thousands of dollars over the loan term.

Since personal loans have a fixed end date, borrowers do not need to worry about the balance growing as long as they meet their monthly payment obligations.

Predictable Payments

Upstart and other lenders provide a predictable monthly payment schedule for their borrowers. One of Upstart’s monthly payment benefits is the option to change the monthly payment at the borrower’s discretion.

Changing payment dates can be beneficial for managing cash flow or accommodating a job change that may result in a different payday. However, potential applicants should understand that changing the payment date with Upstart does not change the original due date. For example, if the actual date is the 3rd of every month, borrowers can change the payment day to the 13th because it does not break the 15 day grace period. But if they changed the date to the 20th, then the payment would be considered late and could incur late payment fees.

Applying for an Upstart Loan

The Upstart application process begins with filling out an online application. Upstart can run a soft credit check to see if you prequalify for funding.

After filling out the initial application, you can complete your profile and verify your bank information and personal credentials. If your profile matches Upstart’s criteria, you will receive an approval notification and begin the funding process.

Funds can be sent in as little as one business day after approval, and once you have them, you can begin your monthly payments. If you use the funds for credit card consolidation, Upstart can send the funds directly to your creditors, which streamlines the entire debt consolidation process.

Final Thoughts

Upstart is taking a new approach by leveraging AI and alternative data to help connect new borrowers with personal loans. Since Upstart utilizes information like college experience and home location to bolster their models, more applicants than ever can qualify for credit.

If you are considering Upstart, you probably prefer quick access to funds and may have a limited credit history but a strong work history.

To learn more about personal loans, be sure to check out our other guides and reviews!