Upgrade, Inc.

Upgrade is an online financial services company offering personal loans, personal lines of credit, and a hybrid credit card product. Personal loans from Upgrade can be used for debt consolidation, home improvement, major purchases, medical bills, and other expenses. The company serves consumers with a range of credit profiles, from fair to good credit.

Upgrade personal loans are unsecured, meaning no collateral is required. The application is completed online, and Upgrade offers pre-qualification with a soft credit check so you can view estimated terms without affecting your credit score. A hard inquiry occurs when you formally apply. Upgrade charges an origination fee on personal loans, which is deducted from the loan amount before funds are sent. Factor this into your borrowing calculations.

Upgrade also offers joint loan applications, which allow two borrowers to apply together. A joint applicant with stronger credit or higher income may improve the terms offered.

The Upgrade Card is a hybrid product that combines features of a credit card and a personal loan. Instead of carrying a revolving balance at variable interest rates like a standard credit card, purchases made on the Upgrade Card are converted into fixed-rate installment plans with set monthly payments. This gives users more predictable repayment than traditional revolving credit, though it also means the balance does not remain available to reuse once paid down in the same way a credit line would.

Because Upgrade serves a broad credit spectrum, rates vary significantly based on creditworthiness. Compare all offers carefully, calculate the total repayment cost, and consider credit union options before committing to any personal loan. Upgrade loans are issued through Cross River Bank and other partner banks.