Can you pay off an Upgrade personal loan early?

Yes, Upgrade will verify your income when you apply for a personal loan. If you're applying for an Upgrade personal loan jointly with another person, both of your incomes will be verified and will hold the same weight in the approval process.

Upgrade may verify income by requesting financial information like pay stubs, bank statements, or W-2 forms. In other cases, they'll just use credit report information. Either way, you will also have to meet other Upgrade requirements to be considered for loan approval.... read full answer

Upgrade Personal Loan Requirements

• Be at least 18 years old
• Be a U.S. citizen, permanent resident or immigration visa holder
• Have a Social Security number or passport
• Have a credit score of 620 or higher
• Must have a bank account

You have a good chance of getting approved for a loan from Upgrade if you meet all of these requirements.

If you want a better idea of what other personal loans you may qualify for with your income, you can use WalletHub's free pre-qualification tool.

Applicants need a credit score of 620 to get a personal loan from Upgrade, according to multiple third-party sources. That means the Upgrade personal loan credit score requirement is in the bad credit range. To put this in perspective, most other lenders' credit score requirements for personal loans range between 585 and 700.... read full answer

Keep in mind that just having a 620 credit score is not enough to qualify you for an Upgrade personal loan. Upgrade will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you. It's also worth noting that some applicants might be able to get a personal loan from Upgrade with a slightly lower score if it's offset by other factors like an especially high income. But it's best to wait to apply until your score meets the threshold.

If you're unsure of what your current credit score is, you can check it for free on WalletHub. You can also pre-qualify for an Upgrade personal loan online to gauge your chances of getting approved with your current credit score.

It takes 2 to 5 business days to get money from an Upgrade personal loan, in most cases. The Upgrade loan timeline includes around 1 day to get approved for an Upgrade loan and another 1 to 4 business days to receive the funds after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.... read full answer

How to Get Money From Upgrade as Fast as Possible

• Fill out the application carefully. You should make sure that all information you enter on the application is correct and complete. That will eliminate any potential delays from Upgrade having to request additional information.
• Check your credit report for errors. Before you apply, you should verify that everything on your credit report is accurate, as any incorrect negatives on there could impact your chances of approval. If you find any errors, you should dispute them right away to get them removed.
• Get your credit score above the minimum. Ideally, you should only apply for an Upgrade personal loan once your credit score exceeds the minimum requirement of 620. That will make it easier for Upgrade to decide whether you qualify, which could lead to a quicker decision.
• Apply online. Online applications have the fastest processing times since they are automated and streamlined.

Once you get approved for an Upgrade personal loan, the money will be delivered through an electronic funds transfer to your bank account, which usually takes 1 to 4 business days.