There are many options available when it comes to personal loans and debt consolidation. One option you may have considered is Universal Credit. Here’s everything you need to know about this company so you can decide whether or not it’s the right choice for you.

Universal Credit Review

Universal Credit Review Summary
We have determined that Cross River Bank and Blue Ridge Bank are legitimate online lenders that fund the loans provided through universal-credit.com. As of November 2022, they have an A+ rating with over 228 reviews and 8 complaints. However, the BBB has recently warned customers that Upgrade, an online lender, has been made aware that its name and logo have been fraudulently used by individuals operating loan scams.
In investigating their website and terms and conditions, some interesting facts came to light. A few things that stood out include:
- Loans through Universal Credit have Annual Percentage Rates (APRs) that can range from 11.69% to 35.93%.
- All personal loans have a 5.25% to 8% origination fee, which is deducted from the loan proceeds.
- Loans feature repayment terms of 36 to 60 months.
- You can get the best rates by signing up for Autopay and paying off some of your existing debt.
- Late payments or subsequent charges may increase the cost of your fixed-rate loan.
- All loans are funded by Cross River Bank and Blue Ridge Bank.
It is important to check that the state you are living in is licensed by Universal Credit and that they have the right permits in place. To do this, consult their State Licenses and Consumer Information page.
What is Universal Credit?
United Credit is dedicated to helping people get the loans they need to consolidate their debt and improve their financial situation. They work with banks and other financial institutions to provide access to personal and debt consolidation loans. Universal Credit is located in San Francisco, CA, and can be reached by phone at (877) 418-9765.
Universal Credit has been in business for over 6 years and is accredited by the BBB since 2/22/2021. They currently have an A+ rating with an average of 228 customer reviews and 8 complaints closed in the last 3 years.
How does Universal Credit work?
Personal loans can be a great way to get the cash you need quickly and easily. At Universal Credit, they offer loans of $1,000 to $50,000 that can be deposited into your account within 24 hours.
Asking for a loan can be a daunting task, but luckily there are many options available to suit your needs. Checking rates and seeing different loan offers is a great way to start. After finding the right offer for your budget, simply accept the loan and the money should be deposited into your account within one day. However, near the end of the process, the lender may require additional documentation to verify your identity or income.
How to qualify for Universal Credit?

Eligibility for a loan through Universal Credit is determined by many factors, including your credit score, credit usage, and payment history. However, you must also meet several other requirements to qualify for a loan through Universal Credit.
- You must be a U.S. citizen or permanent resident or be living in the U.S. with a valid visa.
- You must be at least 18 years old (19 years old in Alabama).
- You must have a valid email address.
- You must have a verifiable bank account.
One way you can get started with personal loans is through Universal Credit. By checking your rate, you can see what kind of loan you may qualify for.
Universal Credit BBB Reviews
Union Credit has been accredited by the BBB and has maintained an A+ rating. With an average of 228 customer reviews and 8 complaints closed in the last three years.
However, the BBB has stated that “Upgrade has recently been made aware that its name and logo has been fraudulently used by individuals operating loan scams.”
Here are some Universal Credit BBB reviews:
Jennifer P 10/20/2022
The process was easy and quick! I had looked into a personal loan from another company, but it couldn’t all be done online, so it was a hassle playing phone tag. This one was great and convenient!
Chay B 10/18/2022
****** credit card consolidation Fast response, funds deposited very fast and customer service reps very helpful and knowledgeable. A fresh start and an easy process would definitely recommend.
Gloria C 10/18/2022
I process was easy. The customer service representatives are very nice and professional and helpful.
Initial Complaint 08/09/2022
Complaint Type: Advertising/Sales Issues Status: Answered
Promised a loan unsecured. Was almost all the way through the approval process and then asked to either pay upfront or use an **** card to make a pre-payment on said loan.
Initial Complaint 05/18/2022
Complaint Type: Billing/Collection IssuesStatus: Answered
On March 31st, 2022 I noticed that a loan in the amount of $22,673 had been fraudulently initiated and obtained without my knowledge or without my participation. The underwriter was Upgrade or DBA- Universal Credit headquartered in *************, **. I have no responsibility for this loan yet they are attempting to make the collection and I’m being unsuccessful in resolving this matter with them. Would like your advice and engagement.
Universal Credit FAQs

How much does Universal Credit charge?
Loans from Universal Credit come with Annual Percentage Rates (APR) that can be as low as 11.69% or as high as 35.93%. Remember, all loans have an origination fee of 5.25% to 8%, which will be deducted from your loan proceeds.
Assuming you take out a $10,000 loan with a 36-month term and a 28.47% APR (which includes a 22.99% yearly interest rate and a 7% one-time origination fee), you’ll end up paying $13,933.62 over the life of the loan. Your required monthly payment will be $387.05.
Are there any pre-payment penalties?
Making late payments on a fixed-rate loan can increase the amount you owe, but there is no fee or penalty for paying off the loan early. This means you can save money in the long run by making extra payments when you can.
How does Universal Credit affect your credit?
When you check your rate for Universal Credit, it will not affect your credit score. This is because only a soft inquiry is performed, which can only be seen by you and does not lower your credit score. However, when you accept an offer and your loan is funded, a hard inquiry is done on your credit report. This type of inquiry can cause your credit score to drop and can be seen by third parties.
How to cancel Universal Credit?
Before you take out a loan, it’s essential to understand all the terms and conditions associated with it. Once the funds have been deposited, you can’t cancel or reverse the loan, so make sure you weigh all your options carefully. A loan may not be the right choice for you unless you’re confident you can repay it.
Money troubles got you down? Here are some tips that might help get you back on track.
- Budgeting is a great way to make sure you only spend what you can afford.
- There are several options available when it comes to financial planning. One option is to reach out to a professional financial advisor. This individual can help you explore your different options and develop a plan that will work best for your unique circumstances.
- Don’t lose hope just because you’re in debt. Many companies are willing and able to help customers set up more manageable payment plans. So don’t be afraid to reach out to their customer service team for more information.
So, is Universal Credit legitimate?
We have determined that Cross River Bank and Blue Ridge Bank are legitimate online lenders that fund the loans provided through universal-credit.com. As of November 2022, they have an A+ rating with over 228 reviews and 8 complaints.
However, the BBB has recently warned customers that Upgrade, an online lender, has been made aware that its name and logo have been fraudulently used by individuals operating loan scams.
Different types of monetary assistance are available from many different places. Lenders may be willing to work with you, or there may be government programs that can help with your finances. You must investigate all your options thoroughly before making any decisions. To get a better understanding of what your choices are, read customer reviews as much as possible.
Have you had any experience with Universal Credit? Feel free to share it in the comments.
Thank you for reading this review! Hope it was helpful.