Get personal loan offers from Upgrade and other great lenders. It takes just two minutes and will not affect you credit score.
Get StartedLoan amount
$1,000 – $50,000
Min. credit score
620
APR from
6.98% – 35.89%
Funds available in
As soon as one day
Here's a breakdown of some of the benefits and drawbacks of Upgrade personal loans.
Upgrade offers fixed-rate personal loans of up to $50,000 to borrowers with fair credit or better. The application process is entirely online, and Upgrade offers fast approval and funding.
Upgrade deducts anywhere from 1.5 to 6 percent of your loan funds up front as a one-time origination fee. Here’s what you need to know before you apply.
| Loan amount | $1,000 – $50,000 |
| APR | 6.98% – 35.89% |
| Minimum credit score | 620 |
| Time to receive funds | As soon as a day |
Here’s a breakdown of some of the benefits and drawbacks of Upgrade personal loans.
Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.
You can repay your Upgrade personal loan over three or five years. Interest rates range from 6.98 to 35.89 percent and are based on your credit score and history, loan terms and other factors.
You can’t use an Upgrade personal loan for post-secondary education expenses, investments, illegal activities or gambling.
The minimum credit score required to get a loan is 620. There is no minimum income requirement. Other requirements include:
Upgrade charges an origination fee of 1.5 to 6 percent of your loan amount. There is no application fee or prepayment penalty. If you don’t pay your monthly bill within 15 days of its due date, there’s a late fee of up to $10. There’s also a fee of $10 if your payment fails.
Because of the origination fee, it’s important to make sure you borrow enough to get the funds you need. If you need $10,000 after fees, for instance, and the origination fee is 5 percent, multiply the amount you need by 1.05 to get the amount you’ll need to request. For example, if you need to pay your contractor a $10,000 down payment, request a loan amount of $10,500, as Upgrade will take $500 upfront due to the origination fee, leaving you with $10,000.
The entire application process is online, and Upgrade provides online account access to its customers.
To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score). You’ll need to provide the following:
You’ll also create an account with Upgrade at this stage, which requires an email address and password. If you’re approved based on the soft inquiry, you’ll be able to view your offers and pick the one that best fits your needs and ability to repay.
Once you decide which offer you want, accept it and provide your Social Security number to verify your identity and get your loan funded.
Before you accept an offer with Upgrade, though, take a few minutes to compare the quote you receive with other personal loan rates from top lenders.
Upgrade has customer service representatives available seven days a week. Customers can call Upgrade customer service at (855) 997-3100 Monday through Friday from 6 a.m. to 6 p.m. Pacific, and Saturday and Sunday from 6 a.m. to 5 p.m.
| Overall score | 4.8 |
|---|---|
| Availability | 5.0 |
| Affordability | 4.3 |
| Customer Experience | 5.0 |
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.