Got this in the mail. Never heard of them, but they "invite" you to join their waiting list for their Visa card and tell you you're preapproved for one of their loan shark products. Look at those rates. No thanks. 
LendUp's Fee Schedule
Under its deferred deposit transaction program, LendUp lets qualified applicants choose to borrow between $100 and $250, and they can choose a repayment date from 7 to 30 days. LendUp charges a fee of $15 for amounts up to $250, and $25 for amounts of $250.
An example of our fees:Amount Advanced Loan Length Fee Repayment Amount APR
| $100.00 | 14 days | $15.00 | $115.00 | 391.07% |
| $100.00 | 30 days | $15.00 | $115.00 | 182.5% |
| $250.00 | 14 days | $25.00 | $275.00 | 260.71% |
| $250.00 | 30 days | $25.00 | $275.00 | 121.67% |
Last Updated: 7/22/2015
I think I'll take one......lol....
@Anonymous wrote:Lendup is basically a Silicon Valley start up ( 3-4 years old) that takes on the payday industry
and compared to regular payday rates they are CHEAP!
Plus unlike payday places as you build a relationship (ie pay them back a few times) they allow bigger, longer loans
so instead of your next payday you can push it out a month + as time goes their deal is your loans will
appear on CRA thus building credit that those that frequent regular payday places would never get.
I know at least 2 ppl that have used them and have gotten TL's added to their CR...
This 'Visa' card is a Silicon Valley 'pre-launch' to see if it works ...think Blispay....'we'll see' if it works
Thanks for the explantion. Maybe it works for some people but for me, it's a big NO. 