Upgrade Personal Loans Review: Choose a Loan or Line of Credit

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Upgrade offers personal loans and personal lines of credit with similar loan amounts, rates and repayment terms. You can get prequalified for either option with a soft credit pull, which won't impact your scores, to determine if one of their loans might work for you.

Personal Loan (Generic) - 36 months, 600-850 image.See if you're eligible

Fair - Exceptional

Est. APR

8.49 - 35.99%




Available loan amounts: $1,000 to $50,000

Est. monthly payment: $30 to $2,206

Grace period: 15 days

Application fee: $0

Loan Details
  • Affordable loans from $1,000 - $50,000 with low fixed rates that will never change, affordable monthly payments, and no prepayment penalties
  • Quick online application -- get pre-approved in just minutes
  • Checking your rate won't impact your credit score
  • Review multiple loan options so you can pick the amount and term that fits your budget and timeline
  • With automatic payments and a customizable due date, managing your account is easy and you'll be able to circle the date on your calendar when you'll be debt free
Potentially low rates and feesOrigination fee
High maximum loan amountsNot available in U.S. territories
Cosigner allowed
Upgrade Customer Service
275 Battery Street, Suite 2300
San Francisco, CA 94111

Experian Review

Upgrade's personal loan offerings are somewhat of a mixed bag. If you can qualify for the best terms, Upgrade offers low interest rates and origination fees. But other lending partners may offer you a similar loan amount and terms with no fee.

For those with less-than-excellent credit, Upgrade may be a good option, as the lending partner doesn't have strict credit score requirements. However, be mindful of the potentially high origination fee and interest rates, and compare your options before accepting an offer.

How to Qualify and Apply for an Upgrade Loan

You can submit an initial prequalification for both the Upgrade loan and card with a soft credit pull, which won't impact your credit scores. If you prequalify, you can see your estimated maximum loan amount and interest rates, which could help you determine which option is best.

If you're interested in the Upgrade personal loan, you'll need to meet the following eligibility requirements and continue the application process.

Eligibility Requirements

Before you can get a personal loan from Upgrade, you'll need to meet the minimum borrower requirements:

  • A U.S. citizen, permanent resident or resident with a valid visa
  • At least 18 years old (19 in Alabama and certain other states)
  • Have a verifiable bank account
  • Share your email address

Additionally, your personal financial situation and credit can impact your ability to qualify for a loan as well as the loan's amount, rate and fee. Even if you prequalify for a loan, you might be turned down later if you can't verify your employment or income (information that may not be on your credit report).

You also can't take out an Upgrade personal loan if you plan to use the money for post-secondary education, investments, gambling or illegal activities.

The Application Process

You can start the Upgrade personal loan application process with a soft inquiry prequalification.

You'll need to share basic information, such as how much you want to borrow, your name, address, date of birth and annual income. You'll also need to create an account and agree to the soft credit check. You can also add a cosigner to your application, which could help you qualify for a larger loan or better interest rate.

If you're preapproved for a loan, you can then choose a loan amount (up to the amount Upgrade offers you) and your loan repayment term.

Once you accept a loan offer, you'll be given a to-do list to complete. The tasks could include sending copies of a government-issued ID, pay stubs and bank statements to verify the information from your application.

You may also be asked to share your employer's contact information and give Upgrade permission to contact them. Or, if you're self-employed, you'll need to share your two most recent tax returns.

Once everything is confirmed and you're approved, you can receive the funds in your account within four business days, depending on how quickly your bank processes the transaction. If you have decided to pay off your creditors directly, it may take up to two weeks to clear. The origination fee will be taken out of your loan amount. So, for example, if you accept a $10,000 loan with a 5% origination fee, you'll receive $9,500.

Is Upgrade Right for You?

The Upgrade personal loan can be a good option for those who have less-than-perfect credit. In addition to having moderate credit score requirements for unsecured loans, the option to add a cosigner can make it easier to get a loan if you might not qualify otherwise. And, considering you can get prequalified without hurting your credit, it may be worth checking your options from Upgrade. Just be sure to compare your options before accepting a loan that has a high origination fee and interest rate.

Personal Loan Calculator

The information provided is for educational purposes only and should not be construed as financial advice. Experian cannot guarantee the accuracy of the results provided. Your lender may charge other fees which have not been factored in this calculation. These results, based on the information provided by you, represent an estimate and you should consult your own financial advisor regarding your particular needs.