Upgrade Personal Credit Line Review

Where does Upgrade Personal Credit Line do business?

Upgrade Personal Credit Line is a marketplace lender based in San Francisco, CA. that was founded in 2016. Upgrade Personal Credit Line is offered in 43 states (and Washington, DC).

What are the APRs offered via Upgrade Personal Credit Line?

Upgrade Personal Credit Line offers personal lines of credit with fixed APRs starting from 6.46% to 35.89%.

Does Upgrade Personal Credit Line charge an origination fee?

No, Upgrade Personal Credit Line 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 Personal Credit Line charge a cash advance fee?

No, Upgrade Personal Credit Line 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 Typically, fees range from 0.5% to 10% of the amount withdrawn.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 Personal Credit Line charge a late fee?

Yes, Upgrade Personal Credit Line may charge borrowers a late payment fee.

Does Upgrade Personal Credit Line charge prepayment fees?

No, Upgrade Personal Credit Line 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 Credit Line?

Upon approval and based on your credit worthiness, your Upgrade Personal Credit Line personal line of credit will be assigned a credit line of at least $500 and as much as $50,000. .

Upgrade Personal Credit Line Fees

Cash Advance Fee	N/A
Origination Fee	N/A
Prepayment Fee?	No
Late Payment Fee	N/A

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

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

Upgrade Personal Credit Line only considers borrowers who are employed, or have a regular source of income or benefits

Active duty servicemembers and their covered dependents are not considered covered borrowers. In other words, they are eligible to apply for a line of credit via Upgrade Personal Credit Line. 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 Personal Credit Line report your account activity to credit bureaus?

Upgrade Personal Credit Line reports your account activity to the following credit reporting agencies:

• Transunion

Making regular and on-time payments on a credit card that reports your account activity to credit bureaus will demonstrate that you consistently manage debt well and can help increase your credit scores.

How to apply for Upgrade Personal Credit Line

• Visit the Upgrade Inc. website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.
• Check the information is accurate and submit your application.