Upgrade review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Upgrade lends directly through Upgrade, Inc. and suits US borrowers who want a fixed rate personal loan, debt consolidation or car finance with fast payout. Amounts run $1,000 to $50,000 over terms of 24 to 84 at a fixed rate, so the monthly figure is set at the start.

Key facts

Best for
A fixed rate US loan with the fee taken out of the payout rather than added to the opening payment.
APR
7.74% to 35.99% (Source, checked September 26, 2026)
Loan amount
$1,000 to $50,000 (Source, checked September 26, 2026)
Term
24 to 84 months (Source, checked September 26, 2026)
Arrangement fee
1.85%-9.99% one-time origination fee, deducted from loan proceeds (Source, checked September 26, 2026)
Credit check
Soft prequal (Source, checked September 26, 2026)
Funding time
Within 1 business day of clearing verifications (Source, checked September 26, 2026)
Representative example
$10,000 unsecured personal loan, 36-month term, 17.59% APR including 13.94% yearly interest rate and 5% one-time origination fee; $9,500 received, $341.48 monthly payment, $12,293.46 total (Source, checked September 26, 2026)
Rate type
Fixed (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Free early repayment
Yes (Source, checked September 26, 2026)
Eligibility
Be a U.S. citizen, a permanent resident, or living in the U.S. on a valid visa; be at least 18 years old (or older where the majority age is higher); provide verifiable bank account information and a valid email address (Source, checked September 26, 2026)
Origination fee (%)
1.85% to 9.99% (Source, checked September 26, 2026)
Loan types
Personal, Debt-consolidation, Secured, Car (Source, checked September 26, 2026)
Use cases
Home-improvement (Source, checked September 26, 2026)
Legal entity
Upgrade, Inc. (Source, checked September 26, 2026)
Headquarters
United States (Source, checked September 26, 2026)
Support channels
Email, Phone, Help-centre (Source, checked September 26, 2026)
Pricing model
Fixed rate
Features
Same-day funding, Credit line
Official website
upgrade.com

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaXLinkedInbbb.org

Pros and cons

Pros

  • Borrowing is priced at a fixed rate, so the monthly payment holds for the life of the loan
  • Amounts of $1,000 to $50,000 cover consolidation, car and home improvement plans as listed in personal, debt consolidation and secured
  • Free early repayment lets you clear the balance ahead of schedule without a charge
  • A soft prequal credit check via soft prequal means checking offers leaves a light footprint on your file

Cons

  • The arrangement fee of 1.85% to 9.99% is deducted from the payout, so a loan can arrive smaller than the amount approved
  • The top of 7.74% to 35.99% is well above the site median of 12%, so a thin credit file lands at the expensive end
  • Eligibility is limited to US citizens, permanent residents or people in the US on a valid visa who can provide verifiable bank details
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Scored 9.2 / 10 by BorrowCue.

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Who it suits

  • US residents who want a fixed rate held across the whole term, as fixed shows
  • Borrowers consolidating several balances into a single monthly payment
  • Car buyers and home improvement planners, the two uses named in home improvement and personal, debt consolidation and secured

Who should look elsewhere

  • Borrowers outside the US, since US is where the lender is based and licences are US only
  • Anyone wanting a firm rate before a full application, given soft prequal is a soft prequal step
  • People who want a fee paid after the fact, because the arrangement fee is taken from the amount borrowed

How your money is protected

Upgrade, Inc. lends as a direct lender rather than a broker, so the agreement runs with the company named in Upgrade, Inc.. It is registered with NMLS Consumer Access under 1548935 and with the California Department of Financial Protection and Innovation under 10608-99. The representative example sets out the rate, the fee and the total repaid on a standard unsecured loan.

The company behind it

The lender is Upgrade, Inc., headquartered in the United States, and it is a direct lender. Support runs through email, phone and help centre. Registration is listed with NMLS Consumer Access under 1548935 and with the California Department of Financial Protection and Innovation under 10608-99, so its licences can be checked against the record.

How Upgrade compares

Where Upgrade is available

Available
United States
Licence in United States
NMLS Consumer Access (Upgrade, Inc.) (1548935), checked September 26, 2026
Licence in United States
California Department of Financial Protection and Innovation (10608-99), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate will I pay on an Upgrade personal loan?+

Pricing runs across 7.74% to 35.99% and is set at a fixed rate, so the monthly amount does not move once the loan starts. The top of that range is well above the site median of 12%, so your credit profile decides where you land.

Is there a fee for taking out an Upgrade loan?+

Yes, an arrangement fee of 1.85% to 9.99% applies to the loan. It is taken from the loan proceeds rather than added to your opening payment, which means the amount that reaches your account is smaller than the amount approved.

How long does Upgrade take to send the money?+

Funding happens Within 1 business day of clearing verifications. Same day funding appears in same day funding and credit line, but the stated timeline runs from the point where verifications have cleared, so plan around that rather than around an instant transfer to your account.

Does checking my rate hurt my credit score?+

The credit check listed is soft prequal, which is a soft prequal step rather than a full application, so a rate check leaves a lighter mark on your file. The rate you are offered still depends on your credit profile, and a hard search follows only when an offer is taken up.

Who am I borrowing from?+

You borrow from Upgrade, Inc., a direct lender based in the United States. It is registered with NMLS Consumer Access under 1548935 and holds a California Department of Financial Protection and Innovation licence, 10608-99.

What can I use the loan for?+

The listed uses cover personal, debt consolidation, secured and car borrowing, with home improvement as a named purpose in home improvement. Amounts of $1,000 to $50,000 run over terms of 24 to 84, and a credit line sits alongside these loans in same day funding and credit line.

Can I pay the loan off early?+

There is no charge for clearing the balance ahead of the final term on a 24 to 84 loan, so paying off early lowers the total repaid. The representative example shows the full cost of a standard unsecured loan, so the saving can be judged against it.

How do I reach Upgrade if something goes wrong?+

Support runs through email, phone and help centre, so there is a phone line alongside email and a help centre. Questions about the loan terms, the fee or the payout can go to any of those routes.

Sources

  • nmlsconsumeraccess.org checked September 26, 2026

    Backs: Licences

  • upgrade.com checked September 26, 2026

    Backs: Features

    “Get the funds you need - sent directly to your bank account - within a day of clearing verifications; All loans, credit cards, personal credit lines, and checking and savings accounts are provided by...”

  • upgrade.com/help/upgrade-inc-state-licenses-and-consumer-... checked September 26, 2026

    Backs: Headquarters, Legal entity, Lender type

    “Upgrade, Inc.'s main office address is 275 Battery St., Suite 2300, San Francisco, CA 94111.”

  • upgrade.com/personal-loans checked September 26, 2026

    Backs: Loan amount, APR, Credit check, Eligibility, Free early repayment, Funding time, Loan types, Pricing model, Arrangement fee, Origination fee (%), Rate type, Representative example, Support channels, Term, Use cases

    “Qualified applicants can borrow $1,000 to $50,000 with a personal loan through Upgrade”

Compiled from 4 source pages, checked September 26, 2026. We did not open an account.

Upgrade

Upgrade

A fixed rate US loan with the fee taken out of the payout rather than added to the opening payment.

9.2/10Visit

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