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 $50,000
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 - $50,000, 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 - $50,000
Origination fee: 1.85% - 9.99%
Lending period: 24-84 months
Credit score requirement: 580
Other Upgrade loan requirements: Social Security number or passport; 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
3.8/5
Overall Score
11.4/15
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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Demond M @demond68
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1 Star Rating
Verified Customer
This company doesn't know how to verify your checking account. They ask for a bank statement, which I sent them, along with a voided check. I'm with a credit union, so my member number is on the statement. I gave them what they asked for, and they were unable to verify my checking account. The letter said, "Unable to verify my identity." Their efforts to verify were non-existent. I never had this problem with any other loan business. Calling them was a complete waste of time.
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Product: Upgrade Personal Loans
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Upgrade
brianne martinez @bree_martinez9
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1 Star Rating
I wish you could give negative stars. The company refuses to help you and will give you the runaround when you have problems. Someone broke into my car while I was at a restaurant, and I only had one credit card with an upgrade. Somehow when the suspect charged $700 on my credit card, it miraculously went onto an account I had no idea even existed. When I called to report the fraudulent charges, I was never told I had two accounts. I informed the representative of the $700 charge and she advised me she could not see the charge and to call back once it posted. They then set up automatic payment withdrawals without my consent and by the time I realized what happened, they are refusing to remove the charge due to my not reporting it within the 60-day timeframe, when clearly, I did, but was told she couldn't see it on my account. This company is SCAM. Do not get anything with them.
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Product: Upgrade Credit Cards
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Upgrade
Chrissy OBrien @chrisobrien73
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5 Star Rating
Best personal loan company I've ever dealt with! I've used them twice now. The first time was 3-4 years ago. I was concerned about getting approved because my scores were not the best due to high credit card balances. But they gave me a debt consolidation loan and helped my scores a lot! The process was so seamless! It literally took less than 5 minutes! They were able to verify everything online and funds were in my account the same day! The second time I've used them was for emergency repairs for my HVAC. The HVAC technician gave me a quote, I went online and applied, and the money was in my account before the technician was finished! So, I am very very happy with this company. I will continue to recommend them to everyone! Thank you, Upgrade!
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Product: Upgrade Personal Loans
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Upgrade
it5946 @it5946
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1 Star Rating
Everything you see here in the reviews is true. I have been through several of the same issues others have posted about. They gave me a $10,000 credit line only to drop it to $6,000. Then, when I used the card my second time, they dropped it down to $1,000, putting me in a position where it looked as if I was $4,000 overdrawn and ruining my credit-to-debt ratio. When I called and asked about this nonsense, they claimed it's not reported. I beg to differ. Either way, it's a terrible experience and makes you feel like you did something wrong, yet it is their business practices that are ruthless, to say the least. They did something similar with a loan I had, and I had a checking account through them, which is really Cross Country Bank, so I can make direct payments to them. I would deposit the money and it would take 7-14 days to clear and post, almost making my payment late many times. My only defense was the posted date my payment was made, but it wouldn't show on my account, perhaps accruing more interest for them by delaying the post a few days. I'm not sure. I just know it's ridiculous in this time and age when computers can post anything in real time such as Zelle or Cash App. I understand those run under a different type of system, but still, 14 days to post is a joke. I agree with the one star because the loan did help me out when I needed it, and it seems their rates are pretty fair if you can deal with their ruthless style that can be stressful. But you need a fair rate, then go ahead.
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Product: Upgrade Credit Cards
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Upgrade
tools @tools
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1 Star Rating
Upgrade violates federal banking law and their own ACH agreement.
They withdraw payments before the due date, which is an unauthorized electronic funds transfer under federal law (Regulation E). Their own ACH Authorization explicitly states that payments will occur "on or after the payment due date," yet they process debits early.
This isn't just bad practice, it's a breach of contract and a Regulation E violation. Be cautious if you're setting up automatic payments, because an early withdrawal can cause serious financial issues if you're not expecting it.
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Product: Upgrade Personal Loans
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Upgrade
clentera jones @clenterajones
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1 Star Rating
This is by far the worst company, especially if you're using it to pay for a trip. They go through a third party, Sabre Hospitality, where you are not able to talk to anybody. They are never able to answer any of your questions but still want you to pay. They sent me an email about a credit I received through them on July 1, 2025. I still have the email!!! This loan was paid off in August 2025. Come October 2025, they sent me an email saying I have a late payment. I immediately called and was unable to speak with a manager; instead, I could only speak with a team lead named Garold, from whom I still did not receive any help. Instead, they charged my card on file three times. This is unacceptable and fraudulent at this point. This company needs to stop. There is no supervisor to speak with, nor managers, just a bunch of rude, unprofessional people. Don't waste your time.
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Product: Upgrade Personal Loans
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Upgrade
RJB RJB @greenwood0492
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1 Star Rating
Upgrade is awful. I've had their card for years and never used it until August. Two years ago, I was notified that fraudulent charges were made with my card in California. I reported it immediately. They didn't credit the transactions to my account and spent nearly two months demanding information that I didn't have because I didn't make the purchases in California. I live in the Midwest and have never been to California. After a couple of months, I got an email from Upgrade saying the merchant refunded the two transactions back to my card but that any fees or interest were to be paid by me. I said absolutely not. Somehow the balance disappeared. When I used my card back in August, I set up auto-pay. They claim my bank declined the payment because they couldn't find my account. The bank account I use to pay my bills is in my husband's name, not mine, and they claim that was the problem. So I tried linking the bank account via the app, and it claims they can't verify it. This company seems very scammy.
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Product: Upgrade Credit Cards
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Upgrade
johnsantorelliisbusy @johnsantorelliisbusy
Report Abuse
1 Star Rating
This company is a joke. They send you a new card, but then they tell you your card is suspended because you took part in a hardship program months ago and paid everything successfully.
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Product: Upgrade Credit Cards
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Upgrade
james c @skeeter1368
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1 Star Rating
What a scam company. They give you a credit card/line of credit, then once you use it, you will suddenly be told you're not eligible for more "draws" and be stuck with an extremely high interest rate. Even when you are making your payments on time, you are never allowed to use the existing credit they show you have. I wish I had not paid off the debt, but get this, even after completely paying off the debt on time, with nothing late, there's still no credit available. Stay away.
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Product: Upgrade Personal Loans
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Upgrade
Israel @izzyharley
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5 Star Rating
Awesome to deal with; great account to have. A lot better than others I've dealt with. Would never get rid of it. Their staff and customer service are above and beyond. 💯 Veteran-approved; give a thumbs up 👍👍👍👍👍
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Product: Upgrade Credit Cards
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Upgrade
David Harner @infazed
Report Abuse
1 Star Rating
DO NOT TRUST THEM!!!! This whole company is complete bunk. This company seems to be ran completely by AI. Their support is just an AI bot that connects you with an "agent" who I had to repeat the same question several times just worded differently and they still ignored my request. I had funds in my account and they always seem to be having errors on the last day to where you can't even get your rent paid. I requested a different agent and still got the same one, requests ignored, rent not paid and yet they act like you're the bad guy and not them. But they never fail to take the fees they charge, even putting my bank account in the negative and get when it comes to rent they do nothing. This company is terrible and upgrade.inc should be ashamed of the way this is being ran. Zero out of five stars but I can't give a zero.
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Product: Upgrade Bill Payments
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Upgrade
Jay Rector @jrector67
Report Abuse
1 Star Rating
Be careful. If you use your credit, they will lower your credit limit. Then, when you pay it off, they scam you out of more interest. And their timelines for payments are unreasonable. They took 14 days to process my payoff check and then charged me extra. Don't use them unless you're desperate.
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Product: Upgrade Credit Cards
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Upgrade
Rudy Reyes @rudyreyes79
Report Abuse
1 Star Rating
I just paid my loan off in full with Upgrade. I applied for another car loan and was turned down. Last week I paid them over $17,000 to finish paying off my car loan finance. I called one of their representatives and was turned down for another car loan refinance I wanted to get. I would have to say DO NOT do business with these guys. They do not value customers very much.
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Product: Upgrade Personal Loans
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Upgrade
Valeria Ray @vray183
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1 Star Rating
They have horrible terms. Very glad they are paid off. Will not recommend this card. Their customer service is not that great either. This card was useless. Rewards were not great either. Paid on time, but interest kept my balance high. Don't get this card.
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. 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.
Upgrade Cash Rewards Card pre-approval does not affect your credit score, as it's done...
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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