Upgrade Personal Credit Line Review

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

What APRs does Upgrade Personal Credit Line offer?

Upgrade Personal Credit Line offers a fixed APR product that ranges from 6.46% APR up to 35.89% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

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 Typically, fees range from 0.5% to 10% of the amount withdrawn.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?

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. .

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

Applicants with a credit score of at least 620 and up to 850 are eligible for Upgrade Personal Credit Line. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Upgrade Personal Credit Line does not have or does not disclose a minimum annual income eligibility requirement. Upgrade 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 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 loan.

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

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

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

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.