Best Personal Loans from Upgrade of January 2022

We have found 5 personal loans from Upgrade. Compare offers and loan types to find the best one for you.

Upgrade
Hanna Volkava
Updated January 18, 2022

See all Upgrade personal loans in January 2022

Showing 5 loans
APR
5.94 - 35.97 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Origination fee:
    2.9 - 8%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast funding
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

See Upgrade full product review
Check rates
On Upgrade‘s site
APR
5.94 - 35.97 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Origination fee:
    2.9 - 8%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Debt Consolidation Loan
  • Pros:
    • Fast funding
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

Eliminate high-interest debt and credit card payments with a lower rate.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

See Upgrade full product review
Check rates
On Upgrade‘s site
APR
5.94 - 35.97 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Origination fee:
    2.9 - 8%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Home Improvement Loan
  • Pros:
    • Fast funding
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Get the funds you need to remodel, repair, or build the home you want without the hassle of refinancing or taking out a home equity loan.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

See Upgrade full product review
Check rates
On Upgrade‘s site
APR
5.94 - 35.97 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Origination fee:
    2.9 - 8%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Major Purchase
  • Pros:
    • Fast funding
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

See Upgrade full product review
Check rates
On Upgrade‘s site
APR
5.94 - 35.97 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Origination fee:
    2.9 - 8%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast funding
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

See Upgrade full product review
Check rates
On Upgrade‘s site
Check rates
On Upgrade‘s site

Check Upgrade personal loan rates

scorer
APR Range
5.94 - 35.97%
scorer
Loans
up to $50,000
scorer
Terms
up to 60 months
scorer
Score required:
Fair (580-669)
scorer
Loan purposes:
Personal Loan, Debt Consolidation Loan, Home Improvement Loan, Major Purchase

Information about lender

  • Organisation:
    Upgrade, Inc
  • Website:
  • Headquarters:
    275 Battery Street, San Francisco, CA 94111

Upgrade Personal loans Pros&Cons

Pros:
  • Low rates. Upgrade APRs start at 5.94% for best-rated borrowers and offer a discount for setting up autopay.
  • No minimum credit requirement. Upgrade doesn’t impose strict minimum credit requirements. Loans could be accessible to borrowers with a fair credit score or better.
  • Fast funding. You can get approved and receive funding within a day. That's great if you need money within a short call.
  • Reports to three major credit bureaus. Upgrade reports to all three major credit bureaus — Experian, Equifax, and TransUnion. That makes building credit easier.
  • Joint applications. You can add a co-borrower to improve your chances of qualifying for a loan.
  • Direct payments on existing debt. Upgrade offers direct payments to lenders on debt consolidation loans.
Cons:
  • Origination fee. Upgrade charges an origination fee of 2.9 - 8%.
  • Other fees. Late payment fee up to $10 after 15 days, and failed payment fee of $10. These can quickly add up and increase the cost of borrowing if you run into financial hardships.

Check loans from other lenders

BadCreditLoans
BadCreditLoans
Personal Loan
5 out of 5
Recommended credit score
bank name
Poor (300-579)
  • 5.99 - 35.99 %
    APR
  • 0.25 - 6 years
    Loan Term
  • $500 - $10,000
    Loan Amount
Check rates
On BadCreditLoans‘s site
CashUSA
CashUSA
Personal Loan
4.87 out of 5
Recommended credit score
bank name
Poor (300-579)
  • 5.99 - 35.99 %
    APR
  • 0.25 - 6 years
    Loan Term
  • $500 - $10,000
    Loan Amount
Check rates
On CashUSA‘s site
Personal Loans®
Personal Loans®
Personal Loan
5 out of 5
Recommended credit score
bank name
Poor (300-579)
  • 5.99 - 35.89 %
    APR
  • 0.25 - 8 years
    Loan Term
  • $1,000 - $35,000
    Loan Amount
Check rates
On Personal Loans®‘s site

Upgrade Review

Upgrade entered the online lending scene in 2017. The lending platform aims to help borrowers reduce fees and build solid credit history with low-cost Upgrade financial products. They offer personal loans between $1,000 - $50,000 with APRs ranging from 5.94 - 35.97%. Once you qualify and get approved, you’ll get funded within 1 - 4 days.

Loans feature repayment terms of 3 - 5 years. The good thing is, Upgrade doesn't charge a prepayment fee. So you can pay your loan sooner than the original loan term at no extra costs.

Upgrade Loan Types

Common types of Upgrade personal loans include:

  • Refinance Credit Card Loans. You can get a personal loan from Upgrade to eliminate high-interest credit card debt at a lower rate, with a fixed monthly payment, and clear payoff date.
  • Debt Consolidation loans. If you have multiple loans (credit cards, medical bills, etc.), it might help to combine all your debts into one. Instead of making multiple payments to different lenders, you can structure and streamline repayments with a single monthly payment. You could be eligible for a lower rate with direct payments to creditors on your debt consolidation loans.
  • Home improvement loans. Upgrade offers personal loans to finance home improvement projects. You can choose from customized fixed rate options that fit your budget and use the proceeds for all types of home improvement projects.
  • Large purchase loans. Not everyone has out-of-pocket money for large purchases. A Large Purchase loan from Upgrade can help cover major furniture upgrades and home appliance purchases.
  • Other loans. Upgrade also offers many other types of specialized personal loans like Dental Loans, Pool Loans, Vacation Loans, Medical Loans, and loans to cover sudden expenses or plan special occasions.

Loan specifications

You can apply for the following types of loans: refinance credit card, debt consolidation, home improvement, large purchase, other loans.

APR5.94 - 35.97%
Amount$1,000 - $50,000
Term3 - 5 years
Origination fee2.9 - 8%

As you can see from the table the maximum loan amount is $50,000, and the APR starts at 5.94% for the best graded borrowers. The loan period varies from 3 to 5 years.

Upgrade Personal Loans: Pros & Cons

Pros: Cons:
Low rates. Upgrade APRs start at 5.94% for best-rated borrowers and offer a discount for setting up autopay. Origination fee. Upgrade charges an origination fee of 2.9 - 8%.
No minimum credit requirement. Upgrade doesn’t impose strict minimum credit requirements. Loans could be accessible to borrowers with a fair credit score or better. Other fees. Late payment fee up to $10 after 15 days, and failed payment fee of $10. These can quickly add up and increase the cost of borrowing if you run into financial hardships.
Fast funding. You can get approved and receive funding within a day. That's great if you need money within a short call.
Reports to three major credit bureaus. Upgrade reports to all three major credit bureaus — Experian, Equifax, and TransUnion. That makes building credit easier.
Joint applications. You can add a co-borrower to improve your chances of qualifying for a loan.
Direct payments on existing debt. Upgrade offers direct payments to lenders on debt consolidation loans.

Applying for an Upgrade loan

General Upgrade lender requirements include:

  • U.S. Citizenship or permanent residence
  • At least 18 years old
  • Verifiable bank account and email address
  • Upgrade doesn't disclose minimum FICO score or debt-to-income ratio. Eligibility depends on Upgrade’s evaluation of your income, credit history, and other factors.
  • Upgrade isn't available in West Virginia and Washington, D.C.

You can start the application by choosing your loan amount and loan purpose. You'll be required to provide basic personal information and your annual income details. Additionally, you would need to enter your email address and password to create your Upgrade account and sign in to see loan offers. At this point, Upgrade performs a soft credit pull, which doesn’t affect your credit score, and provides a range of eligible loan offers and loan terms you can choose from.

Once you select a suitable loan offer, Upgrade will perform a hard inquiry on your credit to complete the application process. Upgrade may request more information or documents before final approval. Self-employed applicants will be required to provide tax returns for two years, bank statements, form 1040 Schedule C, etc. So keep an eye out on your accounts To-Do List.

Conclusion

Upgrade offers personal loans at competitive rates to borrowers with fair credit or better, who need funds quickly. The lender doesn't charge prepayment fees, so you can pay your loan sooner and save money on interest rates. Plus, Upgrade reports loan activities to the three major credit bureaus, which helps you build credit faster.

That said, borrowers have to contend with an origination fee of 2.9 - 8% and late payment fees or failed payment fees. So make sure you can make on-time payments.

FAQ

What is the Upgrade customer service number?

The Upgrade customer service number is (844) 319-3909.

Is Upgrade loan legit?

Yes, Upgrade is a legit online lender headquartered in San Francisco and has offices in Chicago, Phoenix, and Montreal.

Does Upgrade offer business loans?

No. Upgrade offers personal loans only. Though you can choose «Business» as one of their loans' purposes, you'll be directed to Fundera, an online lender that offers business financing.

What is the Upgrades minimum credit score requirement?

Upgrade doesn't disclose a minimum credit score for its loans. Based on the information from third-party sources funds could be accessible to borrowers with at least fair credit.