Upgrade is an online lending platform that provides fixed-rate personal loans ranging from $1,000 to $50,000 for various needs. Whether it’s consolidating high-interest debt, home improvements, emergency expenses, or other major purchases. With a quick online application, predictable monthly payments, and quick access to funds, Upgrade offers a straightforward way to access affordable financing.
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Upgrade Personal Loan Disclosure
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 7.99%-35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. 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. Personal loans issued by Upgrade's bank partners.
DirectLendersList is not a review site; instead, it provides a comprehensive overview of financial products and services and incorporates the Web Rating feature to assist users in making informed decisions.
Web Ratings are important to consider when deciding on financial products or services. These ratings provide insights into the customer experience and serve as a helpful metric for assessing the quality of specific lenders, loan marketplaces, banks, or credit card issuers.
At DirectLendersList, our internal team takes the initiative to prepare web ratings for various financial products and services. These ratings are compiled using multiple channels to gather data from across the web, including customer feedback, ratings from reputable customer review sites, industry reputation, and other relevant data sources. Utilizing these diverse sources of information aims to provide users with a comprehensive and well-rounded assessment of the financial product or service.
The collected data is then utilized to calculate an average web rating, typically on a scale of 1 to 5, reflecting the overall customer satisfaction and experience associated with the specific offering. It is important to emphasize that these ratings are independently prepared by the DirectLendersList internal team and have not been influenced or approved by advertisers. This ensures the ratings remain objective and unbiased, providing users with reliable information to aid their decision-making process.
Upgrade, Inc. is a San Francisco–based financial technology company founded in 2017. While not a bank or lender, it operates as an online lending and financial services marketplace in partnership with FDIC-insured institutions such as Cross River Bank, Blue Ridge Bank, and The Bancorp Bank. These partner banks originate loans, issue credit cards, and provide checking and savings accounts, while Upgrade powers the technology, credit decisioning, and customer experience.
Since launch, Upgrade has served more than 2 million customers and facilitated over $24 billion in consumer credit, establishing itself as one of the fastest-growing fintech companies in the U.S. Its mission is to deliver affordable and responsible credit, while equipping consumers to build long-term financial health through free credit monitoring and educational tools.
Alongside fixed-rate personal loans, Upgrade offers auto refinance loans, credit lines, the Upgrade Card, and OneCard, as well as banking solutions such as Rewards Checking and Premier Savings accounts. By combining credit and banking products within a single marketplace model, Upgrade delivers a comprehensive platform for consumer finance.
Renaud Laplanche and Jeff Bogan launched Upgrade to expand access to simple, low-cost, and transparent credit for consumers often overlooked by traditional banks. Laplanche, a well-known figure in fintech, had previously co-founded LendingClub in 2006 and helped it grow into one of the leading peer-to-peer lending platforms.
The company quickly gained traction, raising over $300 million in venture funding and growing its operations with offices in California, Arizona, Atlanta, and Montreal. Unlike traditional lenders with physical branches, Upgrade’s offices primarily function as hubs for operations, engineering, and development. Upgrade delivers services entirely online and through mobile apps, enabling faster approvals, streamlined processes, and a nationwide reach.
This streamlined, digital-first approach has allowed Upgrade to scale rapidly while keeping costs low, passing those savings on to customers in the form of more competitive loan products.
Upgrade sets itself apart through its focus on technology-driven lending and financial services solutions. Rather than relying solely on traditional credit scoring models, it employs a multidimensional credit model that considers factors such as credit history, income, employment status, and spending behavior, thereby making financing more accessible to a broader range of consumers.
Upgrade also integrates artificial intelligence, machine learning, and advanced analytics into its underwriting and fraud detection systems to:
• Automate approvals and speed up the lending process.
• Strengthen fraud detection and risk assessment.
• Track borrower behavior to support smarter lending decisions.
Beyond lending, Upgrade invests heavily in financial education tools, including free credit monitoring, alerts, and score simulators to help customers improve their credit health over time.
Better Business Bureau
Upgrade offers a variety of financial products and services designed to provide affordable credit, flexible payment solutions, and tools to support smarter money management.
• Fixed-rate personal loans ranging from $1,000 to $50,000.
• Repayment terms from 24 to 84 months, with predictable monthly payments.
• Typical uses include debt consolidation, home improvements, major purchases, and emergency expenses.
• No prepayment penalties, allowing early payoff to save on interest.
• Options to refinance existing auto loans, helping lower monthly payments or reduce total interest.
• Simple online application with competitive terms.
• Upgrade Card: A hybrid between a credit card and a personal loan. Purchases from each billing cycle roll into a fixed-rate installment plan with set terms and predictable payments. Supports balance transfers, foreign transactions, and cash-back rewards.
• Upgrade OneCard: Combines the flexibility of a credit card with “Pay Now” or “Pay Later” options. Pay for some purchases interest-free, while spreading others over time at a fixed APR with “Pay Later”. No annual fee, accepted anywhere Visa is used, and includes rewards.
• Formerly known as Uplift, Flex Pay lets customers shop with partner merchants and split purchases into simple, fixed monthly payments.
• Some plans may be interest-free, while others include interest depending on eligibility and the merchant.
• Quick online application with fast approval decisions at checkout.
• Transparent structure with no late fees, prepayment penalties, or hidden charges.
• Provides a flexible alternative to paying the full purchase amount upfront.
Upgrade offers modern banking options that reward everyday money management while eliminating unnecessary costs.
• No monthly maintenance fees or overdraft fees.
• Earn up to 2% cash back on everyday purchases and subscriptions.
• Access to over 55,000 fee-free ATMs nationwide.
• Direct deposit benefits, including faster paycheck access, higher APY on savings, and lower loan/card rates.
• FDIC/NCUA insured up to $250,000 through partner banks.
• A high-yield savings account offering one of the most competitive APYs in the market.
• No monthly or annual fees and no minimum balance requirements.
• 24/7 secure mobile access to manage funds, transfers, and account management.
• Insured up to $1 million through FDIC/NCUA via participating banks.
• Free credit monitoring and alerts.
• A score simulator to test how financial decisions could impact credit.
• Educational resources to encourage long-term financial wellness.
Combine multiple high-interest balances, such as credit cards, or consolidate other outstanding debts into a single loan with a fixed rate and predictable monthly payment, often resulting in lower overall interest costs.
Finance renovations, repairs, or upgrades to enhance your living space and add long-term value.
Cover big-ticket items such as appliances, electronics, or furniture with affordable, fixed payments, without draining your savings or using high-interest credit.
Access quick funding for unexpected healthcare costs, urgent treatments, car repairs, or other unforeseen expenses.
Pay for moving services, rental deposits, or other transition expenses with a structured repayment plan.
Finance weddings, holidays, or family celebrations with one affordable monthly payment, without turning to high-interest credit cards.
Safety | Bank-level encryption (256-bit SSL, DigiCert) |
Lender Type | Lending Platform |
BBB Rating | A+ Rating |
APR | 7.99% – 35.99%* |
Credit Score | 600 above |
Loan Amount | $1,000 to $50,000 |
Loan Term | 24 – 84 months |
Origination Fees | 1.85% to 9.99%* |
Time to Receive Funds | 1 to 3 business days after approval* |
You must be a U.S. citizen, permanent resident, or living in the U.S. with a valid visa.
Be at least 18 years old (19 years old in Alabama and certain other states).
A valid U.S. bank account for loan disbursement and repayment.
Must provide a valid and working email address for account management and receive essential loan updates.
While Upgrade doesn’t set a strict minimum, a credit score of 600 or higher is generally required to qualify.
Meeting these basic requirements does not guarantee approval. Upgrade also reviews factors like income, debt-to-income ratio, credit usage, and repayment ability before making a decision.
Apply quickly and securely online, with a straightforward process that requires no in-person visits. Submit all relevant information and documents from anywhere.
Check your rate and potential loan terms with only a soft inquiry, which won’t affect your credit score until you decide to proceed with the application.
Upgrade personal loans can be funded quickly, often within 1–3 business days after approval, giving you timely access to funds when you need them most.
When consolidating debt, Upgrade can pay your creditors directly on your behalf, saving you the hassle of handling multiple payments.
Most Upgrade personal loans are unsecured, so you won’t need to use your home, car, or other assets as collateral, avoiding lengthy appraisal or approval processes. In some instances, you may be offered an option to choose a secured loan to qualify more easily or access lower interest rates.
Enjoy stability with fixed APRs and predictable monthly payments throughout the loan term for budgeting certainty.
Upgrade allows you to adjust your due date, helping you align loan payments with your cash flow. If your account is current, you can move your due date up to 15 days before or after the original date by submitting a request at least three business days in advance.
Enrolling in automatic payments can qualify you for a rate discount, reducing your overall loan cost.
Pay off your loan early at any time without extra fees, and save on future interest.
Manage your loan, track payments, and access account details on the go via Upgrade’s mobile app (available on iOS and Android).
You can apply for an Upgrade personal loan with a co-applicant to strengthen your application, which may potentially increase your approval chances and eligibility for a larger loan amount.
You can apply for another personal loan through Upgrade. Eligibility for an additional loan is determined based on several factors, including your current credit profile, repayment history, and overall eligibility. To check if you qualify, you’ll need to submit a new application and review your rate.
Upgrade is not a bank; it is a financial technology platform that partners with FDIC-insured banks to originate its personal loans and credit products, ensuring regulatory compliance. While Upgrade manages the online application process and servicing, the actual loans are issued by its partner banks.
• Cross River Bank: A New Jersey–chartered bank, Member FDIC, Equal Housing Lender. Originates personal loans, auto refinance loans, and home improvement loans. It also offers checking and savings accounts available through Upgrade, and issues Upgrade Visa® Cards that provide access to personal credit lines.
• Blue Ridge Bank: A nationally chartered, FDIC-insured bank, Equal Housing Lender. Originates personal loans and auto refinance loans.
• The Bancorp Bank: Member FDIC, Equal Housing Lender. Issues Upgrade Visa® Cards that provide access to personal credit lines.
• Sutton Bank: Previously issued Upgrade Visa® Cards through October 2024.
• WebBank: Originated Upgrade personal loans between 2017 and January 2020.
By partnering with established FDIC-insured banks, Upgrade can:
• Offer personal loans and credit products nationwide while adhering to banking regulations.
• Provide added security for borrowers through FDIC-backed institutions.
• Maintain transparent loan origination while managing servicing directly.
• Ensure compliance with financial regulations and established federal and state lending standards for consumer protection.
Note: Upgrade services the loans after origination, so your ongoing relationship, including payments, account management, and customer support, is handled directly through Upgrade.
DirectLendersList is not a review site; instead, it provides a comprehensive overview of financial products and services and incorporates the Web Rating feature to assist users in making informed decisions.
Web Ratings are important to consider when deciding on financial products or services. These ratings provide insights into the customer experience and serve as a helpful metric for assessing the quality of specific lenders, loan marketplaces, banks, or credit card issuers.
At DirectLendersList, our internal team takes the initiative to prepare web ratings for various financial products and services. These ratings are compiled using multiple channels to gather data from across the web, including customer feedback, ratings from reputable customer review sites, industry reputation, and other relevant data sources. Utilizing these diverse sources of information aims to provide users with a comprehensive and well-rounded assessment of the financial product or service.
The collected data is then utilized to calculate an average web rating, typically on a scale of 1 to 5, reflecting the overall customer satisfaction and experience associated with the specific offering. It is important to emphasize that these ratings are independently prepared by the DirectLendersList internal team and have not been influenced or approved by advertisers. This ensures the ratings remain objective and unbiased, providing users with reliable information to aid their decision-making process.
Upgrade personal loans carry a fixed APR ranging from 7.99% to 35.99%*. The exact rate depends on various factors, including credit profile, income, repayment term, overall credit history, and other relevant considerations.
A one-time fee, ranging from 1.85% to 9.99%*, is deducted from the loan proceeds when funds are disbursed.
Borrowers may qualify for a discount of up to 0.5% on their APR by enrolling in automatic payments. This can help lower the overall cost of borrowing.
• Up to $10 if your full payment is not received within 15 calendar days of the due date.
• A $10 fee applies for each failed electronic or check payment attempt. (Additional bank fees may apply.)
Repayment terms range from 24 to 84 months, allowing borrowers to choose a plan that suits their budget.
Upgrade typically requires a minimum score of 600. However, meeting this threshold does not guarantee approval; factors such as income, existing debt, and repayment ability are also taken into consideration.
Upgrade takes a unique approach compared to traditional financial institutions. Beyond providing access to personal loans and credit products through its banking partners, Upgrade aims to empower individuals to achieve long-term financial well-being. By combining access to affordable credit with free financial tools, Upgrade helps all users, whether they have an active loan or utilize the platform’s resources, improve their credit health and make more informed financial decisions.
Through features such as credit score monitoring, personalized recommendations, credit score simulators, and alerts for potential issues, users can track their progress, understand the factors affecting their credit, and take actionable steps to strengthen their financial standing.
By creating an account or signing in, you can access these tools and receive weekly updates and notifications to stay on top of your financial journey, giving you greater control over your credit and finances.
🔷 Know Your Number – Access your VantageScore® 3.0, built with data from Experian, Equifax, and TransUnion, along with insights into the factors shaping your credit score.
🔷 Credit Score Summary – View a detailed breakdown of your TransUnion credit report for a clearer picture of your financial profile.
🔷 Credit Health Insights – Learn how credit works through articles, videos, and educational resources designed to build your financial knowledge.
🔷 Credit Score Simulator – Test different financial actions (such as paying off debt or opening a new credit account). The simulator uses your credit report data to estimate how these actions could affect your score.
🔷 Personalized Recommendations – Receive tips and advice tailored based on your credit history to help you strengthen your credit faster.
🔷 Weekly Updates – Receive weekly score refreshes to track your progress and see how your actions make an impact.
🔷 Trending Charts – Monitor your score trends over time and visualize the results of your credit-building efforts.
🔷 Email Alerts – Get instant notifications about changes to your credit report, helping you detect possible fraud or identity theft early.
The state’s serviced may change without prior notice; visit the lender’s website for up-to-date information.
Alabama Georgia Maryland New Jersey South Carolina Alaska Hawaii Massachusetts New Mexico South Dakota Arizona Idaho Michigan New York Tennessee Arkansas Illinois Minnesota North Carolina Texas California Indiana Mississippi North Dakota Utah Colorado Iowa Missouri Ohio Vermont Connecticut Kansas Montana Oklahoma Virginia Delaware Kentucky Nebraska Oregon Washington District of Columbia Louisiana Nevada Pennsylvania Wisconsin Florida Maine New Hampshire Rhode Island Wyoming West Virginia
Looking for loans like Upgrade? These alternatives provide personal loan options with varying terms and features.
Loan Amount: $250- $2,000
Repayment Terms: 6 to 12 months
Loan Amount: $1,000- $50,000
Repayment Terms: 36 to 60 months
Need help with your account or application? Upgrade’s support team is available via email or phone.
• Email: support@upgrade.com
• Phone: (844) 319-3909
Operating Hours:
• Monday to Friday: 5:00 AM – 7:00 PM PT
• Saturday to Sunday: 6:00 AM – 5:00 PM PT
• Trustpilot: Over 43,000 reviews
• TrustScore: 4.5 out of 5 — reflects strong customer satisfaction and reliability.
• ConsumerAffairs: Over 800 reviews
• Average Rating: 4.3 out of 5 — praised for ease of use and fast funding.
• Better Business Bureau: A+ Rating/ BBB Accredited Business
• Rating: Indicates high standards in transparency and customer service.
*Ratings as of September 2025; may change over time.
Overall, Upgrade is consistently praised for its streamlined application process, fast funding, and user-friendly platform. Customers value the clarity of loan terms and the professionalism of the support team. While most feedback is positive, some users raise concerns about origination fees and occasional delays in communication.
✅ Positive Experiences
• Fast approval and funding turnaround.
• Clear loan terms and repayment structure.
• Helpful, patient, and professional customer service.
• Easy-to-use mobile app and dashboard.
❌ Negative Complaints
• Origination fees considered high by some users.
• Occasional delays in payment processing.
• Some users report difficulty reaching support during peak hours.
• Mixed experiences with dispute resolution.
The most common questions and answers about Upgrade personal loans.
No. Upgrade is an online lending marketplace that partners with banks to originate and fund loans through its platform.
Upgrade offers personal loans ranging from $1,000 to $50,000, depending on your eligibility.
Upgrade loan terms range from 24 to 84 months, with fixed monthly payments.
Yes. Upgrade charges an origination fee, which is deducted from your loan amount, and may apply late fees if payments are missed.
Loans through the Upstart platform include an origination fee ranging from 0% to 12% of the loan amount, which is deducted from the loan proceeds upon disbursement. Depending on the lender’s policies, late or returned payment fees may also apply. There are no prepayment fees if you decide to pay off your loan early.
Yes. Joint applications are allowed and may improve approval chances or help you qualify for a larger loan. Both applicants share responsibility for repayment.
Yes. If you’re consolidating debt, Upgrade can send funds directly to your creditors.
Yes. Upgrade offers a mobile app and online dashboard for easy loan management.
Yes. Upgrade reports to all three major credit bureaus: Experian, Equifax, and TransUnion.