Grace Enfield, Content Writer
@grace_enfield
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.
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 580 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 to find out what other personal loans you may qualify for with your income, you can use WalletHub's free pre-qualification tool.
People also ask
Does Upgrade do a hard pull?
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...
read full answer by Rick Bormin, Personal Loans ModeratorHow do I apply for an Upgrade personal loan?
To apply for an Upgrade personal loan, first check for pre-qualification and then enter your personal and financial information on the online application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.
How to Apply for an Upgrade Personal Loan
- Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for an Upgrade personal loan. It doesn't hurt...
How can you get Upgrade personal loan pre-approval?
You can get Upgrade personal loan pre-approval through WalletHub’s free personal loan pre-approval tool. This will allow you to see your odds of approval for a personal loan with Upgrade, as well as your potential interest rates, and the process will have no impact on your credit score.
How to Get Upgrade Personal Loan Pre-approval
- Go to WalletHub’s free personal loan pre-approval tool.
- Enter your desired loan amount and select the reason for...
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