Upgrade personal loans: 2025 review

Where Upgrade falls short

• High APR cap: Upgrade’s maximum APR is 35.99 percent, which is on the high end. You’re more likely to pay rates at or near this cap if you have a credit score at the low end of the lender’s requirements.
• Origination fee: The lender charges origination fees of 1.85 to 9.99 percent of the loan amount. This may lead to borrowing a larger amount (and paying more interest over time) to get the exact amount you need.

Upgrade customer resources

Customer support

Borrowers can get in touch with customer support via chat, email or phone. Support is available from 5 a.m. to 7 p.m. PT Monday through Friday, and from 6 a.m. to 5 p.m. ET on Saturdays and Sundays.

The lender also offers online chat 24 hours per day.

Digital experience

Upgrade’s loan application can be completed entirely online or over the phone. Borrowers can manage their accounts online or through the company’s highly-rated mobile app, which is available for both iOS and Android devices. 

The lender's mobile app is highly rated, with 4.9 out of 5 stars in the App Store and 4.5 out of 5 stars on Google Play.

Do you qualify for an Upgrade personal loan?

Borrowers must be of the age of majority in their state to be eligible for Upgrade’s loans. Additionally, borrowers must meet the standard citizenship, residency or visa requirements and have the following:

• A verifiable bank account
• A valid email address
• A credit score of at least 580

How to apply for a personal loan with Upgrade

Upgrade’s application process can be completed entirely online and only takes a few minutes.

1. Get a quote. Fill out a one-page application to determine the terms you may qualify for based on a soft credit check. You’ll also be required to create an account at this stage.
2. Add information and finalize your application. If you prequalify for a loan, you can view your loan offers. After identifying the offer that best fits your needs, accept it and provide your Social Security number to verify your identity. This will require a hard credit pull.
3. Review the loan details. Before you accept a loan from Upgrade, carefully review your offer and ensure everything checks out. Then, sign the loan contract and choose a disbursement method. Upgrade states that funds can be sent out as soon as the next day after approval.

Methodology

Bankrate considers 20 factors when reviewing lenders. Credit requirements, APR ranges, fees, loan amounts and flexibility are all taken into account so that ratings are representative of how competitive lenders are for a wide range of credit profiles and budgets. The Bankrate Score for personal loans consists of four categories:

• Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
• Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
• Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
• Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also considered whether prequalification was available, as all these factors are key for consumers to make an informed decision.

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.

What customers think

What people across the web are saying about Upgrade

Upgrade received a below-average score on J.D. Power's 2025 Consumer Lending Satisfaction study. The annual study measures overall consumer satisfaction on metrics such as how well the loan met their borrowing needs and their experience obtaining and repaying the loan.

However, Upgrade has an unusually high rating on third-party review site Trustpilot. It earns a 4.4 out of 5 stars, with nearly 43,000 customer reviews as of May 12, 2025. The lender’s easy application process and quick funding are common themes among positive reviews. One user said, in part:

"The loan application process was easy and fast. They have helped me consolidate twice now and the second time with an amazing interest rate! I also received my funds within 1 day of filling out the application. Not sure if this is the norm, but that was super fast!"

— Trustpilot User

Most negative reviews were about Upgrade’s credit card, rather than its personal loans. A few mentioned getting abruptly declined for a personal loan late in the approval process.

Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate. Please see the issuer’s website for updated terms and conditions.

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