Overview

Scammers may pretend to be legitimate lenders—or even impersonate Upstart—to trick you into sharing personal information or sending money. This article explains the most common types of scams, how to recognize them, and what Upstart will never ask you to do.

If something feels suspicious, you can always contact Upstart directly through our Help Center Contact Us page before proceeding.

Common Loan-Related Scams to Watch For

Imposter Scams (Fake Upstart Representatives)

Some scammers pretend to represent Upstart. They may contact you by phone, email, or social media and ask you to pay a fee before receiving your loan—often through gift cards, cryptocurrency, or wire transfers.

Upstart will never ask you to send money to receive a loan.
We do not accept gift cards, wire transfers, or cryptocurrency payments for any part of the loan process.

If you're unsure whether a message is really from Upstart, log in to your account directly or contact us through the Help Center Contact Us page.

Scam Types You Should Know About

Gift Card Scams

A scammer tells you to buy a gift card and send them the code—often claiming it’s for a loan fee, insurance, or verification. Once they have the code, the money is gone.

Learn more from the FTC

Cryptocurrency Scams

Scammers may claim you need to “invest” in cryptocurrency to receive your loan—or that you’ll get a better offer if you send cryptocurrency first. These scams can also take the form of fake investment advice.

Learn more about cryptocurrency scams from the FTC

Romance Scams

These scams often start on dating apps or social media. The scammer builds trust and then convinces you to send them money—or even apply for a loan on their behalf. Once the money is sent, the scammer disappears.

More on romance scams from the FTC

How to Protect Yourself

• Don’t pay to get a loan. Real lenders don’t ask for upfront fees—especially not through gift cards or cryptocurrency.
• Be suspicious of urgency. Scammers pressure you to act fast so you don’t have time to verify their claims.
• Verify the source. Only trust messages sent through your Upstart dashboard or official communications.

🚨 Think You May Have Been Targeted?

• Stop communication with the suspected scammer
• Report the incident to the FTC at reportfraud.ftc.gov
• Contact Upstart Support through the Help Center Contact Us page