Upgrade debt consolidation loan, reviewed
Upgrade lends $1,000 to $50,000 and pays your card balances directly. Its rates, its fee and the catch in the lowest rates.
$364 to $594 a month with Upgrade on $15,000 over four years
$489 a month to clear the same $15,000 on 24% cards in four years
| APR range | 7.74% to 35.99% |
|---|---|
| Loan sizes | $1,000 to $50,000 |
| Terms | 24 to 84 months |
| Fee | Origination fee of 1.85% to 9.99% |
| Bank average, 24-month loans | 11.9% |
A Upgrade debt consolidation loan replaces several card payments with one fixed payment. Its lowest rates need autopay and direct payment to part of your debt, and every loan carries a fee.
Below are its rates, sizes and fees from its own disclosure, and who it suits.
Rates and loan sizes
Upgrade lists APRs from 7.74% to 35.99% on loans of $1,000 to $50,000 (Upgrade).
Terms run from 24 to 84 months. Its lowest rates require autopay and paying off part of your existing debt directly.
Credit score needed
Upgrade publishes no score minimum. The rate depends on your credit and the terms you pick.
This review sets no approval odds.
Fees
Upgrade charges a one-time origination fee from 1.85% to 9.99%, taken from the loan (Upgrade).
Upgrade’s own example: a $10,000 loan with a 5% fee puts $9,500 in your account.
How the money reaches your cards
Upgrade can pay your balances directly to your card companies instead of sending you the money (Upgrade).
That keeps the loan from turning into spending money.
Who the Upgrade debt consolidation loan fits
It fits a borrower who wants the cards paid for them and needs $1,000 to $50,000.
It is a weaker pick if your credit wins a no-fee loan at a similar APR.
Complaints about Upgrade are public in the CFPB database: 607 personal loan complaints under Upgrade.
Other choices
Put a Upgrade offer next to two others before you sign. The best loans page lists all 16 lenders with their fees.
Run the offer through the debt consolidation calculator to see the payment next to what your cards cost.Compare Upgrade with
Lender APR Loan sizes Fee 
PenFed6.39% to 17.99% Up to $50,000 No origination fee 
LightStream9.99% to 23.94% with autopay $5,000 to $100,000 No origination fee 
Discover6.99% to 24.99% $2,500 to $40,000 No origination fee 
Wells Fargo6.74% to 26.74% $3,000 to $100,000 No origination fee 
SoFi6.99% to 35.49% $5,000 to $100,000 Optional fee of 0% to 7% 
LendingClub5.96% to 35.99% $1,000 to $75,000 Origination fee of 0% to 8% 
Reach Financial5.99% to 35.99% $3,500 to $40,000 Origination fee of 0% to 8% 
Achieve6.25% to 35.99% $5,000 to $50,000 Origination fee of 1.99% to 9.99% 
Upstart6.3% to 35.99% $1,000 to $75,000 Origination fee, 8.15% in Upstart’s own example loan 
Best Egg6.99% to 35.99% $2,000 to $50,000 Origination fee up to 9.99% 
Happy Money8.95% to 35.99% $5,000 to $50,000 Origination fee set by amount, term and credit 
Prosper8.99% to 35.99% $2,000 to $50,000 Origination fee of 1% to 9.99% 
Avant9.95% to 35.99% $2,000 to $35,000 Administration fee up to 9.99% 
Universal Credit11.69% to 35.99% $1,000 to $50,000 Origination fee of 5.25% to 9.99% 
OneMain Financial11.99% to 35.99% $1,500 to $30,000 Flat $25 to $500, or 1% to 10%, by state
Related topics
- Personal loan for debt consolidation
- Wells Fargo
- Payday loan consolidation
- Debt consolidation loan calculator
About this lender
What are Upgrade’s personal loan rates?
Upgrade lists APRs from 7.74% to 35.99%, with a 1.85% to 9.99% origination fee.
Does Upgrade pay off credit cards directly?
Yes. It can send the money straight to your card companies.
How long are Upgrade loans?
From 24 to 84 months, on loans of $1,000 to $50,000.
Check your Upgrade offer today
You hold a Upgrade offer, or you are about to apply. The fee and the term change what it really costs. Call and a specialist goes through the offer line by line against your cards.