Yes, you can refinance a personal loan through Upstart. You can use a new personal loan or a balance transfer credit card from another company. This allows you to pay off your remaining balance with a new, lower-cost loan or credit card, which saves you money on finance charges.
How to Refinance an Upstart Loan with a New Loan
You may be considering refinancing if you're struggling to make your Upstart loan payments. Below is how you would go about refinancing an Upstart loan:
1. Check how good your credit is. Checking your credit lets you know whether you have a good enough score to get approved for a loan or need to work on it.
2. Get pre-qualified. When you pre-qualify, you find out which companies might accept you and what rates you might be able to get.
3. Try to get a new loan. You can apply for the loan over the phone, online, or in person. When you apply, you'll need to tell the company a few details about yourself.
4. Wait for funds. After getting approved for the loan, you should get the funds in a few business days. Either a paper check or a bank transfer will be sent to you by the company.
5. Cover the old debt. You'll have to repay the old loan once you get the money.
6. Pay back the loan. After you pay off the old loan, you have to pay back the new loan. This could take a few months or years.
Best Places to Get a New Loan
Some of the best places to get a new loan are:
WeLoans
- Competitive interest rates that draw in a sizable clientele.
- Can borrow large amounts of up to $35,000.
- Loans approved quickly, often within minutes.
US Installment Loans
- Excellent customer experience
- Customer service is 24 hours a day, seven days a week.
- They work closely with reputable US Installment Loan providers.
CocoLoan
- Get access to quick loans from a variety of reliable lenders.
- 97% of loan requests are approved.
- There are no hidden fees for loans.