Upstart vs LendingClub: Which Is Better in 2026?

Quick take

Both Upstart and LendingClub have carved substantial niches in the personal loans market, but they offer distinct experiences. Upstart shines for borrowers who might have a spotty credit history but hold strong earning potential through factors like education and employment. On the other hand, LendingClub appeals to a more traditional borrower, often with established credit, seeking a consistent platform.

If you're a newer borrower who might lack stellar credit yet possess other positive attributes, Upstart could be your lifeline.

Fees and pricing compared

When comparing fees and APRs, Upstart generally offers rates from 5.55% to 35.99%, focusing on attributes beyond just credit score, while LendingClub typically advertises APRs ranging from 8.05% to 35.89%. Upstart's origination fees range from 0% to 8%, and LendingClub’s are 2% to 6%.

In terms of fees, LendingClub can be the better option for those with strong credit, as origination fees can be lower on average, but Upstart potentially offers more affordable rates for a broader range of credit profiles.

Features and platform compared

Upstart provides a quick application process that takes into account various non-conventional factors like education and job history, making it particularly attractive for borrowers who face challenges with traditional credit assessments. LendingClub retains a peer-to-peer lending feel, focusing on transparency with borrowers, which many find reassuring.

Upstart tends to approve applicants faster due to its AI-driven assessment methods, while LendingClub is appreciated for its comprehensive suite of financial tools and straightforward terms.

Mobile experience

In the mobile realm, Upstart offers a robust app that allows borrowers to apply, check rates, and manage loans with ease. LendingClub also sports a well-designed, user-friendly mobile app, although some users note that its interface isn't as intuitive as Upstart's.

Despite being competitor-level, Upstart gains a slight edge for simplicity and speed.

Who each one is for

Choose Upstart if you're new to borrowing, have less than stellar credit but have potential through other financial qualities. LendingClub suits borrowers with established credit who appreciate the transparency and control from a traditional lending perspective.

While Upstart opens doors through non-traditional metrics, LendingClub offers stability and comfort through straightforward terms for seasoned borrowers.

The bottom line

Upstart offers a progressive option for those willing to leverage diverse qualifications beyond credit scores, while LendingClub provides a trusted, steady route with its peer-to-peer lending roots. Both have their strengths; your choice will depend on what you value more.