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  Upgrade

Upgrade

in Personal Lines of Credit

Claimed

Upgrade

Claimed

in Personal Lines of Credit

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Overview

Where does Upgrade do business?

Upgrade is a marketplace lender based in San Francisco, CA. It was founded in 2016 and offers personal lines of credit in 43 states (and Washington, DC).

What are the APRs offered via Upgrade?

Upgrade offers a personal line of credit that ranges from 6.46% up to 35.89%.

Does Upgrade charge an origination fee?

No, Upgrade does not charge an origination fee.

An origination fee is what some lenders charge for processing, underwriting, and funding a line of credit. These fees can range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Upgrade charge a cash advance fee?

No, Upgrade doesn't charge a cash advance fee. Some lenders charge a cash advance fee every time borrowers withdraw cash from their line of credit. Typically, fees range from 0.5% to 10% of the amount withdrawn..

Does Upgrade charge a late fee?

Yes, Upgrade may charge borrowers a late payment fee.

Does Upgrade charge prepayment fees?

No, Upgrade does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit off and close the account.

How much can you borrow via Upgrade?

Personal lines of credit start at $500 and go up to $50,000.

What do you need to qualify for a line of credit with Upgrade?

Applicants with a credit score of at least 620 can apply for a line of credit via Upgrade. The minimum age to apply for a line of credit is 18 or the state minimum, whichever is higher.

Upgrade only considers borrowers who are employed.

Active duty servicemembers and their covered dependents are eligible to apply for a line of credit via Upgrade. Their rates fall within the limits of The Military Lending Act.

Only U.S. citizens and permanent residents can apply for a line of credit.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Applicants must have an active and valid checking account
  • Proof of identity
  • Proof of citizenship or residence permit
  • Proof of income

Does Upgrade report payments to credit bureaus?

Upgrade may report credit data to the following credit reporting agencies:

  • Transunion
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Contact

  • Headquarters
  •   275 Battery Street
    San Francisco, CA 94104 USA

Message from Upgrade

Two members of our founding team, Renaud Laplanche and Soul Htite, are the co-founders of Lending Club, a pioneer in marketplace lending that facilitated over $28 billion in loans and made credit more affordable for nearly 2 million American families over the last decade. Soul also founded Dianrong, one of the largest marketplace lending platforms in Asia. Our founders have now designed a new credit platform that attempts to create even more value for our customers and be more helpful to more people. Our goal is to help you understand and unlock your credit potential and lower the cost of your credit so you can build the future you want.

Other Services by Upgrade

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 43 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington
  • Wisconsin
  • Wyoming

Feature Breakdown

No Fees
No Origination Fee
 
No Prepayment Fee
 
Minimum Age
18
Credit Score Range
620 - 850
850 300 620
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Bank Account Required?
 
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Joint Loan Applications Accepted
  • Individual Applications
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Dollar Amount
Loan Amount
$500 - $50K
    $25 $100K
Percentage
APR
6.46% - 35.89%
    6% 250%+

Reviews

 
 

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