Upgrade is an online financial services company offering personal loans, credit lines, checking and savings accounts. Here is a quick overview of Upgrade’s strengths and weaknesses:
Pros:
3.2/5 average rating among users
Loan amounts as high as $75,000
Pre-qualification available
Joint personal loan applications
No monthly or annual debit or credit card fees
Cons:
Minimum credit score not disclosed (reportedly 580)
1.85% - 9.99% loan origination fee
$10 (after 15-day grace period) late loan payment fee
Upgrade is an online personal loan provider that offers loans ranging from $1,000 - $75,000, to be repaid in 24-84 months. The biggest benefit of a loan from Upgrade is that it should be a lot easier to get than a loan from many competitors. The typical personal loan provider asks for a credit score of around 660, but Upgrade’s minimum credit score is just 580. That’s 60 points below the beginning of the fair credit range.
Upgrade’s APRs start at 7.74% and go as high as 35.99%. Upgrade also has an origination fee of 1.85% - 9.99% of the loan amount, which is deduced from the money you receive at the start.
There are several more key details you’ll need to know about Upgrade personal loans before applying, too.
Upgrade Review Highlights:
APR: 7.74% - 35.99%
Loan amounts: $1,000 - $75,000
Origination fee: 1.85% - 9.99%
Lending period: 24-84 months
Credit score requirement: 580
Other Upgrade loan requirements: Social Security number; U.S. citizenship, permanent residency or immigration visa; 18+ years old.
Joint applications: Allowed
Processing time: It takes 1 to 2 business days to get an approval decision from Upgrade. Then, the funds will be sent to your bank or designated account within 1 business day of clearing necessary verifications.
Late fee: There is a $10 (after 15-day grace period) late fee, but Upgrade gives borrowers a 15-day grace period before charging it.
Customer satisfaction: Upgrade has an A+ rating from the Better Business Bureau and an average user rating of 3.2on WalletHub.
Upgrade’s low credit score requirement is a big plus, but their origination fees and high maximum APR make their loans fairly average overall.
You can check for pre-qualification on Upgrade’s website. You may also want to use WalletHub’s free pre-qualification tool to check your pre-qualification status with multiple personal loan providers.
Below, you can see how WalletHub rates Upgrade personal loans in three key categories: Terms, Requirements & Application, and Reviews & Transparency.
Upgrade Ratings by Category:
Category
Editor’s Rating
Terms
3.3/5
Requirements & Application
4.3/5
Reviews & Transparency
2.8/5
Overall Score
10.4/15
These scores reflect how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
Product: Upgrade Personal Loans
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mike miller @mikelovr
This bank froze my account and called the police and lied on me said I had a gun. The police came to my house 12 police cars my landlord called me. And now I have to move because the bank Lying on me. This bank is racist towards BROWN PPL. DO NOT DO BUSINESS WITH THEM. My account is still frozen since December 12. They are ruthless
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Upgrade
Omar Touqan @omartouqan
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1 Star Rating
Upgrade keeps sending me preapproved loan offers even though I don't qualify for their loan program and can't even complete an application.
The worst part is they're still mailing them after I called and specifically asked them to stop, and even after I filed a BBB complaint. Terrible customer service and a complete waste of paper.
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Product: Upgrade Personal Loans
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Upgrade
pjarca41 @pjarca41
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5 Star Rating
The service was extremely fast. The representatives are very knowledgeable and very courteous. I highly recommend this company.
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Product: Upgrade Personal Loans
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Upgrade
paula_fichman @paula_fichman
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5 Star Rating
This is my 3rd personal loan with Upgrade. Every time, the process was extremely easy, and once approved, the funds were in my bank account the very next business day. Excellent experience all the way around!
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Product: Upgrade Personal Loans
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Upgrade
tmnek @tmnek
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1 Star Rating
I used them to purchase an airline ticket. I cancelled the ticket and upgrade says money was refunded. It has gone to an incorrect account. I provided proof that it did not go into my account. It has been 2 months and it is over $1500.00 that I am out. They keep saying they investigating it but nothing yet.
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Product: Upgrade Personal Loans
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Upgrade
jason grindele @jmat0316
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1 Star Rating
Got $3500 loan paid in full then they lowered credit limit to $1000 paid $400 then lowered the credit limit to $200. Makes no sense for a good paying customer. Once I pay my remaining balance I will never use them again.
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Product: Upgrade Personal Loans
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Upgrade
Rusty Koch @rktexas
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1 Star Rating
I've done business with Upgrade for around 4 years or so. I have two cards with them now, also never late. On 5/16/26 they cut my credit limit by 75% and showed a negative balance of $1200.00 This now shows that I'm over the limit. the payments are on auto pay. I've never been late on anything with them. I asked them why and they said one of my other cards increased my credit limit. This is very bad business with customers that pay on time and never been late, this should be unfair credit practice. I think Upgrade are having some hidden financial problems based on how they're handling things right now. I won't be using them for anything going forward.
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Product: Upgrade Credit Cards
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Upgrade
Michelle A @michellea_191
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5 Star Rating
Verified Customer
Upgrade was very expedient and upfront with the Process. Right on time🤗🤗🤗 MA
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Product: Upgrade Personal Loans
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Upgrade
Jonathan B @jonbird97
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1 Star Rating
By far the worst customer support. If you ever need to cancel a subscription, GOOD LUCK. App gives no option to cancel, reach out to support they tell me they can’t cancel my subscription & I have to send a email to them.. app doesn’t update neither does my application for the boost card. Still just says “well email you” but haven’t gotten any emails.. really regret subscribing to this trash
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Product: Upgrade Personal Loans
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Upgrade
Rich Man @rbtfortune
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1 Star Rating
I've done business with Upgrade for around 5 years or so. I had a personal loan that was payed off, never late. I have two cards with them now, also never late. This year they removed almost the entire amount of available cash and today they removed almost all of the available credit. This now shows that I'm over the limit on both cards. I don't use the cards, the payments are on auto pay. I've never been late on anything with them. I asked them to close both cards since they've removed all but 500 dollars in credit, I have other cards I can use. They said I had to pay the balance on both cards first. This is bad business. I think Upgrade or Cross River are having some hidden financial problems based on how they're handling things right now. I won't be using them for anything going forward.
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Product: Upgrade Credit Cards
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Upgrade
jamesdelamotte @jamesdelamotte
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1 Star Rating
Their customer service is very poor. Their payment platform is very poor. Upon trying to make a monthly payment, I was booted out of the system three times with errors. On the fourth time, my payment was successful and a confirmation was given. Turns out they charged my bank account four times. They authorized the refund, but would not do so for over 14 business days. They refused to expedite the return even though this was errors due to their system malfunction
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Product: Upgrade Personal Loans
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Upgrade
anna Salkay @aszalkay
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1 Star Rating
This card company will lower your credit amount and will take points from your credit over it by placing you over the limit. Find a better card. This one isn't worth the hassle. There are other companies who won't do this to you.
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Product: Upgrade Credit Cards
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Upgrade
historyluv @historyluv
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3 Star Rating
Upgrade is good for a quick loan, easily set up but the problem is getting any money refunded.
I paid off the loan two days before my monthly scheduled due date and I received a notification that the loan was paid off , YET they still withdrew the monthly amount.
When I called about the return of that money, the agent was pleasant and helpful and said it was scheduled to be returned but not for month or so , he fixed it and got it scheduled for a week.
Then I cancelled my trip and a refund of 300 was sent back to upgrade, to the account paid off, on April 23.
They told me that payment can’t be done until May 24 or a few days added to that.
When I asked why 4 weeks, they just said ‘external factors’, when I asked what the external factors were to an account t paid off and money sent as a refund sitting in that account, she just said bank factors.
I told her 4-6 weeks is ridiculous and it should only take 7 business days to transfer the amount t and she just apologized and said ‘external factors’.
When I asked what the external factors were , she just said lots of them. I told her I would like a letter explaining the factors and she said they are not able to do so. Just that I will get my money 4-6 weeks.
Even though it’s sitting in a paid off loan
Three stars. Good at giving loans, sucks at returning money.
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Product: Upgrade Personal Loans
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Upgrade
Tonya Phillips @TPhillips1201
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5 Star Rating
Excellent service, easy to understand. Quick response
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Product: Upgrade Personal Loans
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Upgrade
twasilenko @twasilenko
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5 Star Rating
Verified Customer
Application process was quick and easy. This is my third loan from Upgrade. Never had any problems.
Get answers to your questions about Upgrade below. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered. In addition, WalletHub independently collected information for some of the cards on this page. Ad Disclosure
To log in to your Upgrade Triple Cash Rewards Visa® account, go to Upgrade's website or mobile app, enter your username and password in the appropriate fields, and click the button to sign in. If you don't already have an online account with Upgrade, you'll need to enroll first and set up a username and password.
How to Log in to Your Upgrade Triple Cash Rewards Visa® Account
Visit Upgrade's website or app. Navigate to the login box at the top of the page, where it will ask for your username and password. Below that will be an option to enroll in a new account.
Create your online account. If you haven't done so already, click on the button to enroll or create an account. From there, you'll confirm your identity and create a username and password.
Enter your credentials. In the login box on Upgrade's website or app, enter your username and password. Then, click the button to sign in to your account.
After you have signed up and logged in, you'll be able to manage your Upgrade Triple Cash Rewards Visa® account online. You can pay your credit card bill, see your statements, monitor account activity, and change account information such as passwords and automatic payments.
If you forget your login information, click the option to retrieve your username or reset your password on Upgrade's website or app. Then, follow the prompts to obtain your login info.
Upgrade is legit because it has an A+ rating from the Better Business Bureau and has been BBB-accredited since 2017. Upgrade personal loans also received a rating of 3.6/5 from WalletHub's editors, as they offer $1,000 - $50,000 with decent interest rates to people with bad credit or better.
Why Upgrade is a Legit Company
Upgrade is registered as a business in the states it services.
Upgrade may approve you within one business day, but it can take longer if the company needs extra documentation to verify your information. After your application is approved and you accept the offer, you can get your money via electronic bank transfer within one business day.
Key Things to Know About Upgrade Loan Approval
Minimum Credit Score: 580, according to multiple third-party sources
The Upgrade Cash Rewards Visa® credit score requirement is 640 or better. That means people with fair credit or better have a shot at getting approved for the Upgrade Cash Rewards Card.
Note that while your credit score is very important, plenty of other things will impact your chances of being approved for the Upgrade Cash Rewards Card. Some other key criteria include your income, existing debt load, recent credit inquiries, number of open accounts, housing status, and employment status.
Yes, Upgrade will perform a hard pull on your credit report once your loan is approved and funded. This hard inquiry will likely cause your credit score to drop by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.
Upgrade's hard pull will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside...
Upgrade loan requirements include being at least 18 years old, having enough income or assets to make the monthly payments, and having a Social Security number. You will also need to have a verifiable bank account to qualify for an Upgrade personal loan.
Upgrade Requirements for Borrowers
Credit Score: 580 or higher
Income: Not disclosed
Age: 18+
Citizenship: U.S. citizen, permanent resident, or immigration visa holder
The Upgrade Cash Rewards Card comes with a credit limit that varies based on each applicant's creditworthiness. The higher an applicant's credit score and income are, the higher the starting credit limit is likely to be.
The Upgrade Cash Rewards Card credit limit that you receive upon approval isn't necessarily permanent. You can ask to get a credit limit increase by calling the Upgrade customer service number on the back of your card, but it's best not to ask more than once a year. Upgrade will...
Your Upgrade Card can improve your credit score, but that depends on how much you spend on your card to how you handle payments.
It reports to the three main consumer credit bureaus on a monthly basis, so making all your credit card payments on time, every month, will definitely help your credit score.
While it's ideal to pay off your credit card balance each month to avoid interest charges, that might not...
Yes, the Upgrade Cash Rewards Visa® does have pre-approval. Upgrade requires applicants to check for pre-approval before they can apply, so you will have a good idea of your approval odds if you choose to apply. Getting pre-approved for an Upgrade Cash Rewards Card means that your chances of being approved for an account are very high if you apply, but it does not mean that approval is guaranteed.
Keep in mind that Upgrade Cash Rewards Card pre-approval does not affect your credit...
Yes, you can pay off Upgrade personal loans early, which is a smart idea because it will save you money on interest. Upgrade does not charge a prepayment penalty, meaning that you will not be charged extra if you pay off the loan sooner than you're required to.
Example of How Much You Can Save By Paying Off a Upgrade Personal Loan Early
Situation: A $10,000 loan with a repayment period of...
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We work hard to show you up-to-date product terms, however, this information does
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Actual terms may vary. Before submitting an application, always verify all terms and conditions with the offering
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* The information about the following cards has been independently collected
by WalletHub: Upgrade Triple Cash Rewards Visa® and Upgrade Cash Rewards Visa®.
