ctaText

theme

title

p4TextWhite

p3SecondText

p2MainText

p1Vertical

globalMenu

globalLogo

Cre_student

Credible

Cre25

providerBadge

providerPhone

providerRating

providerFeatures

providerLogo

providerLegalDisclaimer

providerBonus

specialOffer

minDeposit

providerExtraLink

providerScore

providerServices

providerProsAndCons

providerLogoSwitcher

providerLogoMobile

providerSupportedDevices

providerProduct

providerFilters

credible

credible Review

lendingtree_ob

lendingtree

lendingtree Review

LoansUnder36

loansunder36

loansunder36 Review

review

monevo

monevo Review

main

upstart

upstart Review

Header

rating

reviewHeroImage

reviewHeroTitles

Upgrade is one of the newest fintech companies to begin offering customers personal loans over the internet. They just launched in 2017 and have quickly become one of the best-known online lenders in the industry. 

Upgrade Review

p10StarsRating

upgrade

upgrade Review

ReviewHero

p8TextLink

articles

<p>The company has taken applications from over 10 million people who needed some type of loan or other financial assistance. From those applications they have lent out more than $3 billion to their customers. In addition to traditional personal loans, Upgrade also offers their ‘Upgrade Card’ that functions similar to a credit card but with the balance of an installment loan.﻿<br></p><h2><strong>Loan Uses</strong></h2><p>This is a personal loan that you can use for just about anything you would like. During the application process, however, they do ask what it will be used for. Some of the options they list are to pay off credit cards, consolidate other debt, home improvements, start a business, and other. It is important that you are honest with what you are planning on using the money for on the application.</p><h2><strong>Interest Rates &amp; Fees</strong></h2><p>When you get a loan through Upgrade, the interest rate that you have to pay can vary significantly depending on a number of factors. The lowest you can expect your interest rate to be is 7.99% APR. This will be for those who have quite good credit only. The highest interest rate is 35.97%. In your particular state the max APR may be lower than that due to local laws so make sure to keep that in mind. In addition to the interest you have to pay on your loan, they also have a loan origination fee. This fee will be between 2.9% and 8% of the amount borrowed. Needless to say, that can add up quickly if you are borrowing a large amount of money.</p><h2><strong>Credit Rating Requirements</strong></h2><p>This company does factor your credit score into their decision on whether you get approved for a loan or not. It will also influence how much money you are able to borrow. The lowest your credit score can be and still qualify for a loan is 600. This is a relatively low credit score but is certainly is not in the lowest range so it will eliminate this company as an option for many people.</p><h2><strong>Loan Amounts</strong></h2><p>Upgrade offers personal loans ranging from $1000 up to $35,000. The amount that each person will qualify for will vary significantly depending on a number of factors including credit score, debt to income ratios, cash flow ratios, and other factors. They will also take into account information from a co-signer, if you have one. When applying for a loan you can select how much you want to get, but that does not necessarily mean that is the amount for which you will qualify.</p><h2><strong>Customer Service</strong></h2><p>The customer service team at Upgrade is easy to get in touch with and they are quite helpful. You can reach them via email at <a href="mailto:support@upgrade.com">support@upgrade.com</a>. They also have phone support, which you can use by dialing 855-997-3100. They are open Monday – Friday from 6AM to 6PM PST as well as Saturday and Sunday from 6AM-5PM PST. You can contact them for help with your application or just about any other type of assistance that you may need. In addition to the live customer support options you can also get answers to many of your questions by visiting their help center, which has lots of useful information.</p><h2><strong>Payment Options</strong></h2><p>Once you get your loan in place, making your payments is fast and easy. Most people will want to sign up for their automatic monthly payment option because it helps to lower the interest rate on the loan. For those who don’t, payments are easily made online through the Upgrade website. You can make payments using traditional bank draft or other similar options. If you run into trouble making a payment make sure to keep in mind that Upgrade has hardship programs available to temporarily reduce or eliminate monthly payments, or to modify the loan entirely, to help you meet your financial obligations.</p>