How much can you borrow from Upgrade with a personal loan?

Upgrade's 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 a Upgrade personal loan.

Upgrade Requirements for Borrowers

• Credit Score: ... read full answer620+
• Income: Not disclosed
• Age: 18+
• Citizenship: U.S. citizen, permanent resident or immigration visa holder
• Identification: Social Security number
• Bank Account: Verifiable bank account
• Residency: All states except Iowa and U.S. territories

Before you apply for any personal loan, it’s a good idea to pre-qualify. While meeting all of the requirements gives you a good chance of approval, it’s never guaranteed. To pre-qualify with multiple lenders at once, check out WalletHub’s free pre-qualification tool.

Yes, Upgrade personal loans are legit because Upgrade is registered to do business in the states it services, which is a legal requirement to be a legitimate lender. Another reason why Upgrade personal loans are legit is that the lender has a rating of A from the Better Business Bureau. The company also is accredited with the Bureau.... read full answer

Why Upgrade Personal Loans Are Legit

• Upgrade is registered as a business in the states it services.
• Upgrade has a Better Business Bureau rating of A.
• Upgrade has been around since 2016.
• Upgrade has an average user rating of 3.5/5 on WalletHub.
• Upgrade personal loans have a rating of 3.6/5 from WalletHub's editors.
• Upgrade has a secure website, which you can tell by the fact that the URL has "https" in front of it.

While Upgrade personal loans are legit, they may or not be the best choice for you. It's important to compare the terms and requirements of Upgrade personal loans against your other options before submitting an application.

Yes, you can refinance an Upgrade personal loan using either a new personal loan or a balance transfer credit card from a different lender. By paying off your remaining Upgrade balance with a new, lower-interest loan or credit card, you will shift what you owe to the new lender and save money on finance charges. ... read full answer

How to Refinance a Loan from Upgrade With a New Loan

1. Check your credit score. Checking your credit helps you see if you’re able to get approved with the score you have or if you need to spend some time improving it. You can check your credit score for free on WalletHub.
2. Get pre-qualified (if possible). Pre-qualifying shows you which lenders may approve you and what rates may be available to you. You can pre-qualify with multiple lenders for free on WalletHub.
3. Apply for the new loan. You can apply for the loan online, in person or over the phone. You’ll need to give the lender some personal information when you apply, like your name, address and date of birth. The lender will also need some financial information, like your employment status and income.
4. Wait for funds. You should get your loan within a few business days of being approved. The lender will either write you a paper check or do a bank transfer.
5. Pay off the old loan. Once you receive the money, you’ll need to pay off the old loan.
6. Repay the new loan. After the old loan is paid off, you’ll then need to repay the new loan. This could take a few months or years to do.

Refinancing a Loan from Upgrade With a Balance Transfer

The biggest difference between using a balance transfer credit card and a personal loan for refinancing is that many cards offer 0% introductory APRs. If you can pay off your loan before the introductory period ends, you won’t have to pay interest.

To learn more, check out WalletHub’s balance transfer guide.

Final Thoughts

You should refinance a personal loan from Upgrade if it saves you money. Ideally, your new loan or credit card should have a lower APR than your old loan. You can qualify for a lower APR if your credit score and overall financial situation are better than when you got the first loan.

Finally, it’s worth noting that Upgrade does not offer personal loan refinancing services for its own loans. In other words, you can’t use a Upgrade loan to pay off another Upgrade loan and get a lower interest rate in the process.