If you’ve been thinking about taking out a personal loan but are worried about your credit score, Upgrade is a lender worth considering.
Upgrade says it not only offers affordable loans, but free credit monitoring and educational resources that can not only help borrowers get a better understanding of their credit potential, but secure more affordable loans in the long run. Read on to find out more about personal loans offered by Upgrade.
Upgrade personal loans overview
Personal loans may be an affordable source of funding for major purchases, unexpected bills, or paying down credit cards or other high interest debt. A lot depends on the interest rate and terms you can qualify for.
If you decide to take out a personal loan with Upgrade, here’s what you should know:
|Types of rates (APR)||Fixed|
|Loan size||$1,000 to $50,000|
|Loan terms||3 and 5 years|
|Loan use||Debt consolidation, credit card refinancing, home improvement, and other uses|
|Key benefits||0.50% autopay discount|
|Residency||Not available in CT, CO, IA, MA, MD, VT, or WV|
|Loan originator||Upgrade Loan|
How to take out a personal loan with Upgrade
To qualify for a personal loan from Upgrade, you’ll need a verifiable bank account and meet minimum credit score, credit usage and history requirements. Upgrade accepts applications online. If you’re approved, your funds can be in your bank account within four business days of accepting an offer.
With credit monitoring and educational resources for borrowers, Upgrade can be a good choice if you’re looking to build credit. Because every lender uses its own methods for evaluating borrowers and deciding what rates and terms to offer, it’s a good idea to compare prequalified rates from multiple lenders before deciding if a loan is right for you.
Because Credible is integrated with credit bureaus and lenders, you can request rates from multiple lenders by filling out a single form. The process only takes 2 minutes, and won’t affect your credit score.
The company above is one of Credible’s approved partner lenders. Because they compete for your business through Credible, you can request prequalified rates from them by filling out a single form. Then, you can compare your available options side-by-side. Requesting prequalified rates is free and doesn’t affect your credit score. Credible receives compensation if you close a loan with one of our partner lenders. The rates you receive and the fees you pay (if any) are not impacted by this compensation.