SuperMoney 

Upgrade

in Personal Loans from Upgrade

Claimed Visit Site Find My Best Rate

Upgrade

Claimed

in Personal Loans from Upgrade

SuperMoney Net Recommendation Score +59% 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

62 users recommend
2 users are unsure
15 users don't recommend
Cast your vote
Cast your vote

Would you recommend Upgrade to your friends?

Thanks for your vote!

Thanks for your vote!

You voted: May or may not recommend

Highlights
Highlights
Community Rating Strongly recommended
Loan Amount $1,000 - $50,000
APR (Fixed APR) 7.99% - 35.89%
Loan Term (Months) 36 - 60
Number of Reviews 79

Overview

Where does Upgrade do business?

Upgrade is a marketplace lender based in San Francisco, CA. Founded in 2016, Upgrade offers access to personal loans in 44 states (and Washington, DC).

What rates and terms does Upgrade offer?

What personal loan APRs does Upgrade offer?

Upgrade offers a fixed APR personal loan product that ranges from 7.99% 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.

How much can you borrow via Upgrade?

Loan amounts start at $1,000 and go up to $50,000.

What can a personal loan from Upgrade be used for?

Personal loans from Upgrade are typically used for special purchases, debt consolidation, home improvement projects, weddings, medical expenses & procedures, unexpected expenses or similar purposes.

What is the maximum loan term you can get with Upgrade?

Upgrade offers personal loans with terms ranging from 36 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Upgrade Rates & Terms
Loan Amount $1000 - $50000
Loan Term 36 - 60 months
APR 7.99% - 35.89%

What fees does Upgrade charge?

Does Upgrade charge an origination fee?

Upgrade charges a loan origination fee of 1.5% to 6% of the loan amount. Upgrade deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.

Does Upgrade charge a late fee?

Yes, Upgrade may charge borrowers a late payment fee of up to $10

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 loan off early.

Upgrade Fees
Origination Fee 1.5% - 6%
Prepayment Fee? No
Late Payment Fee $10

What do you need to qualify for a loan with Upgrade?

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

To qualify for a Upgrade loan, applicants need a minimum annual income of $30,000 or higher. Upgrade only considers borrowers who are employed and meet the minimum income requirement.

Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.

Active duty servicemembers and their covered dependents are eligible to apply for a loan via Upgrade. 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:

  • Driver's license
  • Applicants must have an active and valid checking account
  • Proof of identity
  • Proof of citizenship or residence permit
  • Recent pay stubs
  • Proof of income
Upgrade Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Joint Applications Accepted? Yes
Credit Score 620 - 850

What is the estimated funding time for a personal loan via Upgrade?

Upgrade will typically approve (or deny) a loan application within 120 hours and fund personal loans within 7 business days of approval.

Does Upgrade report loan payments to credit bureaus?

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

  • Transunion
UPGRADE Disclosure: Loans made through Upgrade feature APRs of 7.99%-35.89%. All loans have a 1.5% to 6% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay. For example, if you receive a $10,000 loan with a 36 month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your bank account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early.
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...

Contact

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

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 44 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Massachusetts
  • 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 Prepayment Fee  
Late Fee Amount $10
Origination Fee 1.5% - 6%
Minimum Age 18
Cosigner Optional  
Credit Score Range 620 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Minimum Annual Income $30,000
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
  • Co-borrower
  • Cosigner
  • Individual Applications
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Loan Amount $1K - $50K
Loan Term (Months) 36 - 60
APR (Fixed APR) 7.99% - 35.89%

Reviews

 
 

Would you recommend Upgrade to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)
Page 1 of 4

Other Personal Loans