Serving clients since 2017, Upgrade has been founded by the co-founders of LendingClub. In only 3 years, the company has made a big impact by providing borrowers with a hassle-free funding solution to finance their needs.
Upgrade offers personal loans online to borrowers through its wide network of lenders.
Whether you’re looking for a personal loan to finance a repair work around the house, refinance a credit card, or fund your next big purchase, Upgrade is the place to find the best deals regardless of your credit status. If you’re reading different Upgrade reviews online and doing your legwork before you narrow down your choices, then you have come to the right place.
We will discuss:
At the end of this legit Upgrade review, you’ll be able to make an informed decision of whether or not to take out a personal loan with them.
Upgrade offers unsecured personal loans, so you don’t have to provide any collateral to take out a loan. With this loan, you can cope with a variety of financial challenges in your life. From debt consolidation to credit card refinancing, remodeling your home or covering for an unexpected expense, Upgrade provides you with a quick and smooth way to get funds and overcome financial worries in no time.
Here is a summary of what Upgrade offers:
✓ Origination Fee – All personal loans have a 2.9% to 8% origination fee. This fee is deducted from the loan proceeds.
✓ Prepayment Penalty – No prepayment fee is required.
✓ Late Payment Penalty – Late payments or subsequent charges may increase the cost of your fixed-rate loan.
✓ Returned Payment Fee – There is no fee or penalty for repaying a loan early.
There are several requirements you must meet to qualify for a loan with Upgrade. These include:
You’ll find our Upgrade application process review below. Take a look to see how easily you can apply for and take out a personal loan with Upgrade:
Unlike other Upgrade personal loan reviews, in this review, we have included a pros and cons section to give you a better idea of the advantages and disadvantages, which will help you decide whether to use their service or not:
If you want a low annual percentage rate (APR), then your best options are Credible and LendingTree. Both companies offer a minimum APR of 3.99%. In addition to this, Credible is also a good option if you are looking for a higher maximum loan amount than Upgrade. The company offers a $100,000 maximum loan amount. If you compare the Upgrade online reviews with those of its competitors you’ll also notice that their eligibility requirements are simpler than Upgrade’s.
Powered by an industry-leading infrastructure service provider, Upgrades’ cloud infrastructure facility is encrypted and deployed with data protection capabilities. Upgrade’s infrastructure provider is SOC 1, SOC 2, and SOC 3 compliant. Physical access to the data center is strictly controlled.
The company uses advanced prevention technologies like web application and network firewalls, antivirus, intrusion detection systems, VPN, web filtering and anti-spam technologies. Moreover, the company also equips all its customers with an Extended Validation (EV) Secure Socket Layer (SSL) certificate. This facilitates secure data transmission. So, once it is installed on your system, you can be satisfied that your confidential information can only be read or written through defined service access points. Also, the system is password-protected. Therefore, it can only be used if you have the password. No wonder that Upgrade reviews are generally very favourable regarding the security of using Upgrade’s services.
In a nutshell, Upgrade is a relatively new online personal loan marketplace in the US. The company, however, has been founded by experienced founders, so you can expect Upgrade to offer you the best in the industry. Upgrade provides unsecured loans at competitive fixed rates to individuals above 18 years of age. The Upgrade loan reviews are positive, the company is rated ‘A’ by BBB and has a wide network of lenders. With Upgrade, you can apply for a loan fast and get the best deals in the shortest time. All you have to do is compare your deals and make your pick. Once you make your selection, the lender then transfers the loan to your bank account directly.
No. You can’t refinance your personal loan if you’re looking for a better interest rate on an existing loan.
You can use it for a variety of purposes such as:
Yes. Upgrade’s entire loan application process is online. It’s a simple online application process, and you don’t have to physically go anywhere or wait to get an appointment with a loan officer.
Upgrade personal loan works best for anyone who wants an immediate solution for their financial worries. Upgrade funding is quick and easy. You can find a good personal loan offer on Upgrade even without stellar credit.
Yes. Upgrade is accredited by the Better Business Bureau (BBB). The Upgrade rating on BBB is an impressive ‘A’. This is a big achievement, especially for a company that has been around for only 3 years. An ‘A’ rating shows that Upgrade customers are satisfied with their services and offers. After reading different Upgrade reviews, you can easily see that Upgrade is a reliable and trusted online loan marketplace that is focused on delivering the best of services to customers and helping them cope with their financial challenges.