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Upgrade review

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

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

Upgrade suits US borrowers who want a direct lender with fixed rate personal loans, a credit line and quick access to money, and the fee is taken from the proceeds before you see it. It scores 6.4 on offer, and the arrangement fee runs 1.85% to 9.99% on top of the rate.

Key facts

Best for
US adults wanting a fixed rate personal loan or a credit line, funded quickly by a direct lender.
APR
7.74% to 35.99%↗
Loan amount
$1,000 to $50,000↗
Term
24 to 84 months↗
Arrangement fee
1.85%-9.99% one-time origination fee, deducted from loan proceeds↗
Credit check
Soft prequal↗
Funding time
Within 1 business day of clearing verifications↗
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↗
Rate type
Fixed↗
Lender type
Direct lender↗
Free early repayment
Yes↗
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↗
Origination fee (%)
1.85% to 9.99%↗
Loan types
Personal, Debt-consolidation, Secured, Car↗
Use cases
Home-improvement↗
Legal entity
Upgrade, Inc.↗
Headquarters
United States↗
Support channels
Email, Phone, Help-centre↗
Pricing model
Fixed rate
Features
Same-day funding, Credit line
Official website
upgrade.com

Credit cards

Annual fee
$0↗
Currency conversion fee
3%↗
Rewards type
Cashback↗
Rewards rate
3% cash back on gas, groceries, streaming and monthly subscriptions, and utilities; 1% on everything else, uncapped↗
Perks
Visa Zero Liability protection, Travel and Emergency Assistance Services, Roadside Dispatch, Upgrade Shopping offers, Rewards do not expire, 24/7 fraud monitoring and real-time alerts, Flexible payment options Pay Now, Pay in 4, Pay Over Time (coming soon)↗
Card kind
Credit↗

Debit cards

Monthly fee
$0↗
Free ATM withdrawals
$0↗
Card type
Debit↗
Cashback rate
2%↗
Card network
Visa↗

Facts checked September 26, 2026, 6 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaXLinkedInbbb.org

Pros and cons

Pros

  • Fixed rate personal loans with an APR of 7.74% to 35.99%
  • Free early repayment lets you settle the balance early without a charge
  • Soft prequalification, so a soft prequal credit check comes before a hard search
  • Funding Within 1 business day of clearing verifications

Cons

  • The arrangement fee of 1.85% to 9.99% is deducted from loan proceeds, so the amount received is lower than the amount borrowed
  • The top of the APR range is far above the site median of 15.5%
  • The smallest loan is $1,000 to $50,000, which rules out small emergency amounts
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Scored 9.2 / 10 by SumCue.

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Who it suits

  • US residents who want one lender for a loan and a credit line
  • Borrowers consolidating debt or funding home improvement who value a fixed rate
  • Adults who prefer a soft prequal credit check before committing

Who should look elsewhere

  • Borrowers who would rather pay fees up front, since the arrangement fee of 1.85% to 9.99% comes out of the amount borrowed
  • Anyone outside the US, as eligibility is tied to US residency and citizenship status
  • Borrowers who need a very large sum, since the maximum is $1,000 to $50,000

Deposit protection

Upgrade is a direct lender, direct lender, registered with NMLS Consumer Access under 1548935 and licensed by the California Department of Financial Protection and Innovation under 10608-99. The representative example shows a fixed rate personal loan with the origination fee folded into the APR and taken from the proceeds before the money reaches the account.

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?+

Upgrade offers fixed rate loans with an APR of 7.74% to 35.99% and terms of 24 to 84. Loans cover personal, debt consolidation, secured and car borrowing, and the model is fixed rate rather than variable, so repayments stay the same each month.

How much does an Upgrade loan cost in fees?+

An arrangement fee of 1.85% to 9.99% applies, and it is deducted from your loan proceeds rather than billed separately. That means the amount you receive is lower than the amount you borrow, so the fee and the interest rate stack up.

How long does an Upgrade loan take to arrive?+

Funding is Within 1 business day of clearing verifications. Same day funding is a listed feature Upgrade advertises, which suits anyone who needs money quickly rather than waiting out a longer processing window.

Does applying with Upgrade affect my credit file?+

Upgrade runs a soft prequal credit check, so you can see whether you qualify before a hard check is done. A hard search only follows once you move ahead with an offer, which keeps the early stage low impact.

Who can apply for an Upgrade loan?+

Applicants must be a US citizen, a permanent resident, or living in the US on a valid visa, be at least a minimum age, and provide verifiable bank account information plus a valid email address. Residents of other countries cannot apply.

Does Upgrade charge for paying a loan off early?+

Free early repayment is available, so you can clear the balance when you can without a penalty. The arrangement fee of 1.85% to 9.99% comes out of the proceeds at the start, and the rate stays fixed for the term.

What support does Upgrade offer?+

Support runs through email, phone and help centre, so you can reach the team by email or phone, or work through the help centre. A direct lender structure means the loan sits with Upgrade rather than a third party broker.

Can I borrow for home improvement?+

Home improvement is the use case Upgrade lists, alongside personal, debt consolidation, secured and car loans. The range runs from $1,000 to $50,000 over terms of 24 to 84, with a soft prequalification credit check at the start.

Sources

  • nmlsconsumeraccess.org checked September 26, 2026

    Backs: Licences

  • upgrade.com checked September 26, 2026

    Backs: Features, Card network

    “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/atm-network checked September 26, 2026

    Backs: Free ATM withdrawals

    “There is no fee to use an AllPoint® ATM. There is a $2.50 fee for cash withdrawals at out-of-network ATMs.”

  • upgrade.com/credit-card/onecard-essentials checked September 26, 2026

    Backs: Annual fee, Card kind, Perks, Rewards rate, Rewards type

    “Upgrade OneCard Essentials has no annual fee.”

  • 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”

  • upgrade.com/rewards-checking-preferred checked September 26, 2026

    Backs: Card type, Cashback rate, Currency conversion fee, Monthly fee

    “Rewards Checking Preferred - The debit card with up to 2% cash back on purchases ... use your Upgrade Visa® Debit Card for purchases”

Compiled from 7 source pages, checked September 26, 2026. We did not open an account.

Upgrade

Upgrade

US adults wanting a fixed rate personal loan or a credit line, funded quickly by a direct lender.

9.2/10Visit