Editorial Disclosure: The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone.
A similar look and feel
to Lending Tree’s personal loan website, Upgrade is the new kid on the block (established 2016) and has
an inviting homepage that greets customers with incentives up front. Get a loan
with Upgrade and you’ll have low fixed rates, affordable monthly payments, no
prepayment fees and you may get approved for up to $50,000. Checking your rate
doesn’t affect your credit score so that’s step one. Upgrade targets borrowers
with fair credit, which means there’s no need to fret if you don’t have that
perfect or near-perfect 700 credit score.
If you’re a millennial
the first thing you might notice on the Upgrade website is that there’s not a
contact number, rather a support email (as well as a help center) that you can
use to reach out with all your questions. This should put many at ease,
considering we’re used to doing everything over email and text these days.
Besides that, the site is user friendly and includes helpful little graphics
for those who are more visual.
At Upgrade, the
company’s goal is to help you understand and unlock your credit potential while
lowering the cost of your credit. It’s a great tool if you’re looking for a way
to consolidate your debt or if you need to pay off your credit cards, finance a
new business venture or revamp an existing business.
What you need to know
before applying for a loan with Upgrade:
Rates (APR) range from
7.99 percent to 35.89 percent and loan terms last for three to five years.
There is no prepayment penalty, but you will be charged a late fee if/when your
payment is past due. But first things first. Once you check your rate online
and are approved for a loan amount, you can choose an offer. After being
accepted, you’ll receive the funds in your bank account within just one day.
This loan is perfect for anyone who needs fast cash, whether to stock a shop with
merchandise, make a major purchase or remodel/repair/build out the home of your
In addition to personal
loans, Upgrade offers personal credit lines, also up to $50,000. On a personal
credit line, you can take out only what you need and pay interest on that
amount. For personal credit lines, Upgrade sets fixed rate amounts. Because of
this, you’ll be able to plan ahead and cover monthly payments on time
throughout the year.
Upgrade also has a super
helpful Credit Health section on the website, which allows you to use their
tools to monitor your credit score for free. Online tools will assist you in
better understanding your credit score, getting personalized recommendations
and tips tailored to your life and credit history and even sending you weekly
updates, credit trends and email alerts to help you identify potential fraud
and recognize what is making or breaking your credit score and why.
There’s not much to it. Visit the website and ask qualified professionals anything at any point in the process. There are also lots of articles on the site that may have the answers you’re looking for already spelled out for you.
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