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  Upgrade Card Personal Credit Line
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Upgrade Card Personal Credit Line
in Personal Lines of Credit from Upgrade Inc
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Upgrade Card Personal Credit Line

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in Personal Lines of Credit from Upgrade Inc
SuperMoney Net Recommendation Score +67  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +67, equating to 4.3 on a 5 point rating scale.

+67

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

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Highlights
Community Rating Strongly recommended
Loan Amount $500 - $50,000
APR  (Fixed APR) 14.99% - 29.99%
(Verified 01/10/2023)
Number of Reviews 21

Upgrade Card Personal Credit Line Review

Upgrade Card Personal Credit Line is offered by Upgrade Inc, a nonbank financial services provider founded in 2016 and based in San Francisco, CA. Upgrade Card Personal Credit Line are available in 47 states across the USA.

Upgrade personal line of credit FAQ

What APRs does Upgrade Card Personal Credit Line offer?

Upgrade Card Personal Credit Line offers a fixed APR product that ranges from 14.99% APR up to 29.99% APR. Rate is quoted with autopay discount*.

Does Upgrade personal line of credit charge an origination fee?

No, they do 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 the Upgrade personal line of credit charge a cash advance fee?

No, they do not 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 Typically, fees range from 0.5% to 10% of the amount withdrawn.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 the Upgrade Card Personal Credit Line charge a statement balance fee?

No, this lender does not charge a statement balance fee.

Does Upgrade Card Personal Credit Line charge a late fee?

No, they will not charge you a late fee of up to $0 .

How much can you borrow via Upgrade personal line of credit?

Upon approval and based on your credit score and credit history, your personal line of credit will be assigned a credit limit of at least $500 and as much as $50,000. .

Upgrade Card Personal Credit Line Fees
Cash Advance Fee N/A
Origination Fee 0%
Prepayment Fee? No
Late Payment Fee $0
Statement Balance Fee No

What do you need to qualify for Upgrade Card Personal Credit Line?

Applicants with a credit score of at least 600 and up to 850 may be eligible for Upgrade Card Personal Credit Line. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Upgrade Card Personal Credit Line does not have or does not disclose a minimum annual income eligibility requirement. Upgrade Card Personal Credit Line only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Upgrade Card Personal Credit Line. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Upgrade Card Personal Credit Line.

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

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

Does Upgrade Card Personal Credit Line report your account activity to credit bureaus?

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

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How does Upgrade personal line of credit compare to other personal lines of credit?

Pros & Cons of Upgrade Card Personal Credit Line
Pros Cons
  • No fees, no annual fee, and no application fee.
  • See if you qualify in minutes without hurting your credit score.
  • Enjoy peace of mind with $0 Fraud liability.
  • Combine the flexibility of a card with the low cost and predictability of a loan.
  • No rewards on purchases.
  • No introductory 0% APR offers.

Is Upgrade Inc a legit company?

Upgrade Card Personal Credit Line was founded in 2016. It is an established company that has been in business for 7 years. Based on their "strongly recommended" SuperMoney community rating, they appear to be a very reputable company.

How to apply for Upgrade personal line of credit

  • Visit the website.
  • Fill in the application form. You will typically need to provide general information such as your name, address, email address, Social Security Number, source of income and employment, and checking account information.
  • Check the information is accurate and submit your application.
Upgrade Card Personal Credit Line Disclosure: Credit Lines opened through Upgrade feature Annual Percentage Rates (APRs) of 14.99% - 29.99% and line amounts ranging $500 - $50,000. Optional ACH transfers are subject to fees that would increase your finance charge and APR on those transactions. The lowest rates require Autopay and the majority of the line amounts will be $25,000 or under. For example, a $5,000 transaction with a 36 month term and a 19.99% APR has a required monthly payment of $187.90. The APR on your draw may be higher or lower. Your rate, line amount, and default term depend on maintaining a qualifying credit score, your credit usage history, requested amount, and other factors. The Upgrade Card is unique in that it allows you to obtain a series of closed-end loans which you may access through transactions such as card purchases up to the approved line amount. As you repay your balance, additional credit may become available to you up to the approved line amount subject to meeting our credit requirements. The Upgrade Card will not replenish as it would in an open-end credit arrangement.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Upgrade personal line of credit

Our goal is to offer an online and mobile banking experience that delivers exceptional value, including affordable loans and cards, and helps our customers make good financial decisions so they can build the future they want.

Upgrade’s founding team pioneered fintech 15 years ago. In 2017 we launched Upgrade to offer our users more value and a better experience than they receive from their traditional bank. In the last five years, over 15 million people have applied for an Upgrade Card or loan through Upgrade, and we have made over $15 billion in affordable and responsible credit available to our customers. Our innovative Upgrade Card combines the flexibility of a credit card with the low cost of an installment loan. Our latest offering, Rewards Checking, gives customers access to no-fee checking accounts with 2% cash back rewards on common everyday spending.

Availability

  Available in 47 states
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • 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
  • Wyoming

Feature Breakdown

Annual Fee $0
Late Fee Amount $0
No Late Fees
No Origination Fee
No Prepayment Fee
Origination Fee (%) 0%
Checking Account Required
Credit Score Range 600 - 850
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Proof of Income
  • Proof of Identity
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Customizable Payment Dates
Payment Options
  • Automatic Payments
  • Check by mail
Pre-Qualified Soft Credit Inquiry
APR (Fixed APR) 14.99% - 29.99%
(Verified 01/10/2023)
APR Type Fixed APR
Loan Amount $500 - $50,000

Upgrade Card Personal Credit Line Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +67, equating to 4.3 on a 5 point rating scale.

+67

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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