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, a simple approval process and easy banking.
Visit www.upgrade.com/personal-loans- Fast approvals
- Loans up to $50,000
- 4.02% APY on savings accounts
- Same-day transfers up to $100,000
- $10 late fee on loans
- High origination fee
Helpful Reviews
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 unlimited 1% to 2% 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% to 20% lower interest rate if you apply for an Upgrade loan or card.
Upgrade interest rates and fees
Upgrade’s personal loans typically have annual percentage rates (APRs) between 7.74% and 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.
Keeping money 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.
Still have questions?
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 7.74% 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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- 4,917,785 reviews on ConsumerAffairs are verified.
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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.
Reviewed July 8, 2026
I am still in the process but I had applied with a different company who sent my information to every payday loan institution in America. Within hours all my passwords and information were compromised. I spoke with an employee who called me and almost cussed him out until he said a few key words that I knew he was not a scam. I told him what had happened and he told me exactly what to do. I have spent 3 days trying to fix what one mail flyer did. Thank you Upgrade. I am hopeful to have a long lasting relationship.
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Reviewed June 27, 2026
I am a repeat customer of Upgrade, and they continue to impress me. I recently took out a personal loan and was approved quickly. Just a couple of days later, they reached out and offered an opportunity to refinance my auto loan. As a first-timer to auto refinancing, I was a bit unsure of what to expect, but the entire process turned out to be incredibly simple and straightforward. Why They Stand Out:
Clear Communication: They take the extra time and attention needed to make sure you fully understand what is being asked of you as a customer, and exactly what is needed on their end.
If you want a seamless financial process backed by a team that actually cares about clear communication, Upgrade is the way to go!
Reviewed June 14, 2026
I've gotta give it to Upgrade, they have one important tool in their loan approval process that all other banks need to include in their lender process. It's flawless, it's genius and it does give the lender and instant look at you as a potential borrower. Upgrade asks to have access to your bank account, once in your bank account, they can see all your highs (I deposited over $22,000.00 this past month,) and verify any lows it they exist. One last important point, Merrick Bank is a low-end lender for high-risk borrowers, 24-hours before Upgrade approved me, Merrick Bank denied me off a soft pull of credit report.
So, I instantly sent them a message giving them the one tool they are missing in their loan approval algorithm processes, they need to get access to the borrower bank account. Upgrade approved me within 30-45 seconds after accessing my bank account. So, anyone thinking about getting a loan, keep a clean bank account and maintain positive growths. Give Upgrade a chance and I am sure it will work out for you as it did for myself.
Reviewed May 5, 2026
Needed a loan at the last minute and decided to take an offer from Upgrade. I figured "what do I have to lose." Submitted my request and a day or so later my request was approved and the funds were in my account. I was real pleased on how easy and effortless it was. Compared to walking and waiting at a local bank, etc. This is way faster. I would do it all over again and appreciate the fact that Upgrade was there to help me out!
Reviewed April 24, 2026
I applied for a personal loan, it was very easy and fast. I was approved on Friday and received my money on Monday; the next business day. I had a few questions and the live chat was quick to answer and if they weren't sure they connected me to who I needed to speak to. Thank you all, you rock!
Reviewed July 7, 2026
The loan process was easy and fast. The funds were available in my account in two days. This was a stress-free process. I highly recommend going to Upgrade first for all your loan needs.
Reviewed July 7, 2026
Upgrade fast response made it easy to consolidate my credit card debt into one payment. I like the convenience of applying online, and having all documents available online as well. I would recommend them to anyone looking to consolidate and streamline multiple debts.
Reviewed July 6, 2026
We've used Upgrade twice so far for home improvement loans. It couldn't be faster or simpler. The money was in our account the next day.
Reviewed July 5, 2026
Quick and responsive in a time of need. Much appreciate the experience and professionalism.
Reviewed June 29, 2026
They are easy to work with and very customer-oriented.
Upgrade Company Information
- Company Name:
- Upgrade
- Website:
- www.upgrade.com
