Upgrade Review for 2026

Financing Options

Upgrade financial solutions include both personal loans and Upgrade Cards tied to personal credit lines. Personal loans are for borrowers who need a lump sum for a one-time purpose.

The Upgrade line of credit works like any credit card. You make purchases and pay them off over time, paying the purchase price and interest to Upgrade.

Personal Loans

Whether you need a personal loan to refinance credit card debt, pay off school or medical expenses, or buy a car, Upgrade could be the perfect provider for you. You can borrow up to $50,000 and use it however you want.

The lender transfers the money directly to your bank account so you get access to your funds as quickly as possible.

Upgrade loans come with fixed monthly payments, meaning you won’t have to worry about any surprising increases throughout the life of the loan.

An Upgrade personal loan is an unsecured personal loan. This means that as a borrower, you don’t need to provide collateral to obtain a loan. Unsecured loans generally have higher interest rates. This makes sense, since the lender needs to secure its services somehow, it charges fees and raises its rates.

The exception to this is an auto-secured loan, which is also available at Upgrade. In this case, your car is used as collateral to qualify you for a loan or lower your interest rate.

To qualify for this type of loan, you must:

• Be at least 18 years old
• Have a valid bank account and email address
• Meet Upgrade’s credit and identity-verification requirements

Upgrade Card

Another personal financing product this lender offers is a line of credit. With a line of credit, you get access to a pool of money from which you can draw funds multiple times.

If you repay the amount you use on time, you’re allowed to use more money in the future. A line of credit functions like a traditional credit card, but typically has lower interest rates.

The exact credit line depends on the applicant and the specific offer.

You access the line of credit with an Upgrade Visa card that is accepted wherever Visa credit cards are accepted. You cannot use the card in ATMs, however.

Balance transfers are available, and depending on the card, balance transfer fees of up to 5%, foreign transaction fees of up to 3%, and ATM withdrawal fees may apply.

To qualify for this type of financing, you must:

• Meet Upgrade’s creditworthiness requirements
• Provide information about your income
• Be eligible under the lender’s current product and state rules

Application Process

From our own experience, we can confirm that the application process is both simple and fast. When you arrive at the site, you’ll see a dropdown menu. To start your application, you simply select a loan amount and specify the reason you are borrowing money.

Unlike some other lenders, Upgrade allows you to check your credit rate for free. The company will perform a “soft” credit check when you apply. This lets Upgrade get a good idea of your credit history and it won’t affect your credit score.

Upgrade is a company that seems to pride itself on flexibility. You’ll receive a loan offer, but if it doesn’t seem like a good option for you, you’re not obliged to accept it.

Here are the steps you need to follow to apply for a loan:

• Go to the Upgrade website
• Choose the loan amount you need
• Choose the purpose of your loan
• Click on the “Check your rate” button
• Get a quote

If you accept the offer, Upgrade representatives will perform a “hard” credit inquiry and ask you for additional information.

The lender performs a soft inquiry when you check your rate and may use a hard credit pull when you complete a full application.

The lender’s final offer depends on your credit score, loan term, and your credit history.

The waiting period for getting funds can be a little longer than you’re likely to experience with other lenders. If you’re lucky, your funds might arrive within one business day, but there’s a chance you’ll wait as long as four business days.

If you’re looking for reliable, same-day funding, many other lenders will be more suitable for you.

You should choose the type of loan you take out wisely, and carefully calculate how much money you need, so that you select the terms that allow you to pay off the loan without busting your household budget.

As for lines of credit, you’ll find an online form on the website that can be completed in just a few minutes. Besides basic personal information, the lender requires information about your annual income.

To apply for a loan, make sure you can meet the requirements by providing the following information:

• Name, address, date of birth, and other basic personal information
• Desired loan amount and term
• Permission for a credit check
• Annual income
• Additional income
• Additional information to verify your identity

Upgrade’s form has two lines for income. One is intended to disclose your annual salary, while the other includes your spouse’s income and money you receive as a child support or alimony. It might also include income not coming from your salary, like dividends or income from rental properties.

Upgrade also allows joint applications for personal loans, which can help some borrowers qualify for larger amounts or better rates.

Features

Upgrade does not publicly emphasize one fixed minimum credit score on its main current product pages, but stronger credit profiles generally qualify for better rates.

If you do qualify, the Upgrade will take care of you by helping you find the best financial solution for your needs. One way it does this is through a helpful financial tool that lets you monitor your credit score at any time you want by performing a soft inquiry.

The tool makes it clear which factors affect your credit score and what you can do to improve it. It provides personal tips and it alerts you when your credit score changes.

Our review wouldn’t be complete without mentioning the customer service. Upgrade has fast, knowledgeable, polite customer agents. You can send an email and receive an answer within a few hours.

If you need immediate help, there is also a telephone hotline that works from Monday through Friday from 5 a.m. to 7 p.m. Pacific time, and Saturday through Sunday from 6 a.m. to 5 p.m. Pacific time. You can ask agents anything you want about your loan and they’ll give you accurate information right away.

Loan Amount and APR Details

Upgrade offers affordable personal loans that can be worth up to $50,000. Since it offers unsecured loans, you shouldn’t be surprised if you pay a higher interest rate here than you would for a secured loan.

When applying for a loan, don’t forget that Upgrade charges a one-time origination fee. The origination fee for a personal loan covers administrative costs, and it’s usually 1% of the entire loan.

However, Upgrade’s origination fee is much higher, ranging from 1.85% to 9.99%. You should definitely take this into account when considering your borrowing options.

For example, let’s say you take out a loan worth $10,000 over a 36-month term with an APR of 17.98%. The origination fee is 5% and the interest rate is 14.32%.

You’ll receive $9,500 ($10,000 minus the 5% origination fee) and make 36 monthly payments of $343.33 for a total of $12,359.88.

Here’s what you can expect from an Upgrade personal loan:

• Loan amount: $1,000 to $50,000
• APR: 7.74% to 35.99%
• Origination fee: 1.85% to 9.99%
• Loan term: 24 to 84 months
• Payment terms: Monthly

Upgrade’s lines of credit are slightly different from its personal loans:

• Loan amount: Depends on your offer
• APR: 14.99% to 29.99%
• Fees: Balance transfer fees of up to 5% may apply, foreign transaction fees of up to 3% may apply, and ATM withdrawal fees may apply
• Payment terms: Monthly

As you can see, a line of credit doesn’t hit you with additional fees, like origination or withdrawal fees.

However, some Upgrade Card offers do include balance transfer, foreign transaction, and ATM-related fees.

Borrowing through the Upgrade Card and using the Autopay feature typically gives you the best possible interest rate.

However, the final APR depends on your credit score, credit history, and the amount you want to borrow.

Eligible and Ineligible Clients

If you meet the company's requirements, there’s no reason why you shouldn’t be able to get a loan from Upgrade.

The most important thing is that you have a credit profile and overall application that satisfy the lender’s underwriting standards.

The loans are available only in the US. Unfortunately, you won’t be eligible if you’re a resident of one of the following states: West Virginia, Colorado, Connecticut, Massachusetts, Iowa, or Maryland.

State eligibility can vary by product and disclosure, so borrowers should confirm availability during the application process.

Repayment Terms

If you take out a loan, you’ll pay it back in regular monthly installments. This lender offers fixed rates, meaning that borrowers are protected from unexpected increases.

When it comes to loan terms, choices are very limited. You can choose only between a 36-month or a 60-month period.

The loan term must be agreed upon during the application process.

Make sure you choose wisely so as not to jeopardize your financial health. Upgrade now offers repayment terms from 24 to 84 months, giving borrowers more flexibility than before.

Some clients state that they would be more satisfied with flexible repayment plans, but the good news is that there are no prepayment penalties. If you are ready to pay off the entire loan, you can do it at any time you want.