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Upgrade Reviews

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About Upgrade

Upgrade is an online and mobile banking solution that offers personal loans, credit cards and deposit accounts. With Upgrade, customers can combine online and mobile banking with affordable loans and cards, high-yield savings accounts and rewards checking accounts. Customers also benefit from free credit monitoring, alerts and credit education tools. Upgrade’s fully online service offers fast transactions, simple approval and easy banking.

Pros
  • Fast approvals
  • Loans up to $50,000
  • 4.02% APY on savings accounts
  • Same-day transfers up to $100,000
Cons
  • $10 late fee on loans
  • High origination fee

Featured Reviews

Pinetta, FL
Verified purchase
The whole process was very easy and quick. From start to being approved was only a few minutes and the money was in my bank account the next day. I will definitely look into this ...

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Houston, TX
Verified purchase
The whole experience from start to finish was quick, easy and painless. It was very easy to apply and I received an answer immediately. There was no hassle or fuss. It was an unex...

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How does Upgrade work?

Upgrade caters to customers who need support with building credit and offers different options for personal loans. Its loans can be used for purposes such as home improvement, major purchases and debt consolidation.

You can apply online, choose your loan type and amount (up to $50,000) and receive funds within days of being approved. There are no prepayment penalties, and low rates are available for qualifying customers.

The company also recently added checking and savings accounts to its line of products. You can open both accounts online, and your money is FDIC-insured through Cross River Bank.

Upgrade products

Upgrade offers a variety of financial products to customers:

Personal loans: Upgrade’s loans come with fixed rates and monthly payments. Loans are available from $1,000 to $50,000. You can check your rate on its website for free and without affecting your credit score.

Premier Savings: The company’s Premier Savings account is designed to help you reach your financial goals faster. It features an annual percentage yield (APY) of 4.02%, which is quite a bit higher than what you’ll see at most brick-and-mortar banks — and even many online-only banks.

Rewards Checking: Using your debit card for purchases earns you between 1% and 2% unlimited cash back. You’ll get 2% back at places and on purchases like:

  • Gas stations
  • Restaurants
  • Monthly subscriptions
  • Utility and cell phone bills
  • Convenience stores

Everything else nets you 1%. You also get a 10%–20% lower interest rate if you apply for an Upgrade loan or card.

» MORE: Types of personal loans

Upgrade interest rates and fees

Upgrade’s personal loans typically have annual percentage rates (APRs) between 7.99% to 35.99%. The lowest rates require autopay. Rates vary based on your credit score, your credit usage history, the loan term and other factors.

Upgrade provides the following example: a $10,000 loan with a 36-month term and a 17.98% APR (14.32% yearly interest rate plus a 5% origination fee) gives you $9,500 after fees and requires a monthly payment of $343.33. Origination fees at Upgrade range from 1.85% to 9.99% at the time of publishing. Late fees start at $10.

Upgrade’s checking account has no ATM or account fees.

Squirreling money away in your savings account earns you 4.02% APY on balances of at least $1,000. There aren’t any monthly fees to worry about.

Upgrade FAQ

How long does it take for Upgrade to approve a loan?

It usually takes from two to five business days for Upgrade to approve and fund a loan. After approval and verification, the lender sends funds within one business day.

Does Upgrade do a hard credit pull?

Yes, if you decide to move forward with a loan, Upgrade does a hard credit check. However, you can check your rates through Upgrade without a hard credit pull.

What credit bureau does Upgrade use?

Upgrade says that if you apply for a loan, you’ll only see a hard inquiry on your TransUnion report.

Where can I use Upgrade’s card?

You can use the Upgrade card everywhere that Visa credit cards are accepted, except ATMs.

Does Upgrade have monthly account fees?

Upgrade’s checking and savings accounts do not have any monthly account fees. In addition, its checking account has no ATM fees.

Is Upgrade legit?

Upgrade is a good loan company for those who prefer simplicity and flexibility. Upgrade offers loans of up to $50,000, which is more than some of its competitors. The company has APRs starting at 7.99% at the time of publishing. While origination fees are somewhat high, costs may balance out for some customers due to the lack of prepayment penalties and lower rates. Those looking for high-yield deposit accounts will find Upgrade’s percentages to be greater than most of the competition.

Upgrade Reviews

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    How do I know I can trust these reviews about Upgrade?
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    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 5
    Customer ServicePunctuality & SpeedLoan Process

    Reviewed May 16, 2025

    I had a loan with them before, and did make repayments on the loan swiftly, to keep my credit score above average, If I ever needed a loan again. They had most of my information from loan before, and so with little effort on my part the loan was approved, instantly. The funds reached my bank in a day, maybe a little longer, not by much. I always pay on time, and payments are never late and this sure helps you next time. Their customer service is above average, helpful and dedicated to fast track your loan as much as they can. Do not have to wait long, so if you need money right away, maybe this would be the right path for you. It was for me.

    Thanks for your vote!
    Upgrade
    Response from Upgrade

    Hi!

    Thank you for your feedback! We appreciate you reaching out!

    We make it a priority to take into account our customers' perspective to continually try to keep improving the level of our customer service.

    We appreciate that you took the time to let us know about both your prior and current positive experiences.

    Thank you!

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      Punctuality & SpeedLoan ProcessRates

      Reviewed April 2, 2025

      During and after the Pandemic I was out of work for some time and living off my credit cards. After a couple of years of steady and timely payments, I was not making any headway on the debt itself, just paying interest month after month. I needed help! Upgrade provided me with an debt consolidation loan that was easy to obtain online and finalize quickly. They made direct payments to my credit cards and provided me affordable monthly payment and a great rate that was better than my credit cards. Now there is a light at the end of the tunnel and I will be debt free in 4 years and my credit rating has gone up significantly! Thank you Upgrade!

      Thanks for your vote!
      Upgrade
      Response from Upgrade

      Hi,

      We appreciate your feedback.

      Thank you for being a valued customer!

      Rates

      Reviewed March 26, 2025

      I was referred to Upgrade by Experian. I was a little leery at first. Never heard of Upgrade. When I read the great reviews I decided to give them a chance. Great decision on my part. I requested the loan amount - saw the low interest rate and I was in. I had the funds in my account within a week. Went very smooth. I will definitely recommend them and will use them again (If I need to). Thank you Upgrade!!!

      Thanks for your vote!
      Upgrade
      Response from Upgrade

      Hi,

      We appreciate your feedback.

      Thank you for being a valued customer!

      Customer Service

      Reviewed March 25, 2025

      I applied for a 2500 loan to enroll in a coaching class. Upgrade took my information and the money was deposited in my bank account within 24 hours to pay for the course. I was shocked to have such quick response. I would recommend them to anyone. Thank you for the opportunity to support me starting a coaching business for registered nurses who are "burnout" at the bedside and are considering leaving the healthcare business. I am coaching registered nurses to transition their current skills into another healthcare position. There are tons of needs in the healthcare industry and tons of alternative jobs and we do not need nurses leaving the industry as we already have a major shortage in healthcare for workers.

      Thanks for your vote!
      Upgrade
      Response from Upgrade

      Hello,

      We appreciate your feedback.

      Thank you for being a valued customer!

      Profile pic of the author.
      Verified purchase
      Customer ServiceStaffLoan ProcessRates

      Reviewed Feb. 22, 2025

      I got an email from Experian soliciting me to pay off my debt with a loan. I’ve been denied debt consolidation loans in the past so I was skeptical. Upgrade had the best fees and interest so I decided to see what they could do. Wow, did I get a great rate! I even shipped it to my credit union to see if they would beat it and they didn’t! I was shocked. The process was easy. Customer service was friendly. I’m so happy I did this. If you’re worried about your debt and looking for a consolidation loan, give them a try!

      Thanks for your vote!
      Upgrade
      Response from Upgrade

      Hi,

      We appreciate your feedback.

      Thank you for being a valued customer!

      Punctuality & SpeedLoan Process

      Reviewed June 12, 2025

      I would highly recommend. It was so easy to do online, and I received the loan quickly. Able to directly pay on credit cards by Upgrade a plus. I have used them before, and it is always a good experience.

      Thanks for your vote!
      Upgrade
      Response from Upgrade

      Hi Janice!

      Thank you for your feedback. We appreciate you reaching out!

      We make it a priority to take into account our customers' perspective to continually try to keep improving the level of our services.

      We appreciate that you took the time to let us know about your positive experience.

      Thank you!

      Loan Process

      Reviewed June 12, 2025

      I've consolidated bills using an Upgrade loan, I believe this is my third time. The loan application process is simple and straightforward. The loan application, this time, though, a person called to verify my information, and they never did that before. But I rather that inconvenience than for someone else to be getting the loan in my name.

      Thanks for your vote!
      Upgrade
      Response from Upgrade

      Hi Margo!

      Thank you for your feedback. We appreciate you reaching out!

      We make it a priority to take into account our customers' perspective to continually try to keep improving the level of our service.

      We appreciate that you took the time to let us know about all of your positive application experiences.

      Thank you!

      Customer ServiceLoan ProcessTransparency

      Reviewed June 11, 2025

      I've had an excellent experience with Upgrade. I've received two personal loans as well as a credit line that have supported both my personal and business needs. The process was smooth, efficient, and transparent. Their customer service has been responsive and helpful every step of the way. Highly recommend Upgrade for anyone seeking reliable financial solutions.

      Thanks for your vote!
      Upgrade
      Response from Upgrade

      Hi Jenni!

      Thank you for your feedback, and appreciate you reaching out!

      We make it a priority to take into account our customers' perspective to continually try to keep improving the quality level of our customer service.

      We appreciate that you took the time to let us know about your positive application experience.

      Thank you!

      Loan ProcessRates

      Reviewed June 10, 2025

      Wanted to payoff credit cards and smaller loans. This let me do that with lower interest rate and lower payments. Process was easy to follow, just wish the funding fee wasn't so high. Thank you for saving me money.

      Thanks for your vote!
      Upgrade
      Response from Upgrade

      Hi Joan!

      Thank you for your feedback and appreciate you reaching out!

      We’re sorry to hear you were dissatisfied with the origination fee offered.

      We make it a priority to take into account our customers' perspective to continually try to keep improving the level of our customer service.

      We appreciate that you took the time to let us know about your overall positive application experience.

      Thank you!

      Punctuality & SpeedStaffTransparency

      Reviewed May 29, 2025

      They put my mind at rest immediately responding to my application, and they are transparent and honest. There was hardly any wait time. They seem professional and efficient and I would recommend them to anyone.

      Thanks for your vote!
      Upgrade
      Response from Upgrade

      Hi Laura!

      Thank you for your feedback and appreciate you reaching out!

      We make it a priority to take into account our customers' perspective to continually try to keep improving the quality level of our customer service.

      We appreciate that you took the time to let us know about your positive application experience.

      Thank you!

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      Upgrade Company Information

      Company Name:
      Upgrade
      Website:
      www.upgrade.com