Upgrade Personal Loan Review (2026)
Upgrade is a San Francisco-based fintech that provides personal loans, a rewards credit card, and a checking account. Its personal loan product accepts fair-credit borrowers (580+) and offers a joint-application option that allows borrowers to add a co-borrower to strengthen an application. Upgrade charges an origination fee of 1.85–9.99%, which is deducted from the loan amount at disbursement. Despite the fee, competitive APRs make Upgrade a strong option for 580–679 FICO borrowers.
Pros and cons
Pros
- Accepts 580+ credit scores
- Joint application / co-borrower option
- No prepayment penalty
- Autopay discount (0.5% APR reduction)
- Direct payment to creditors for debt consolidation
Cons
- Origination fee 1.85–9.99% deducted from proceeds
- Higher APRs for below-average credit
- Maximum term 84 months (7 years)
Upgrade — common questions
Does Upgrade charge an origination fee?+
Yes. Upgrade charges an origination fee of 1.85–9.99% depending on your creditworthiness and loan term. This fee is deducted from the loan amount at disbursement, so you receive less than the approved amount.
What is Upgrade's minimum credit score?+
Upgrade lists a minimum credit score of 580. However, borrowers with scores in the 580–619 range typically see higher APRs (25–35.99%) and lower loan limits ($1,000–$10,000).
Can I add a co-borrower to an Upgrade loan?+
Yes. Upgrade allows joint applications. The stronger borrower's credit and income are used for qualification, which can increase your approved amount and lower your APR.
How does Upgrade's direct pay work?+
For debt consolidation loans, Upgrade can pay your creditors directly rather than depositing funds in your bank account. This reduces the risk of using loan proceeds for other purposes.
Alternatives to Upgrade
Not sure Upgrade is the right fit? Compare all lenders or use our marketplace to see multiple offers at once.
Editorial disclosure: This review is prepared by Get Advance Loan’s editorial team and is independent of the reviewed lender. Get Advance Loan is a free loan marketplace and may receive compensation from lender partners when users accept loan offers through our platform. This compensation does not influence our editorial assessments. All rate data is sourced from the lender’s public disclosures and is accurate as of June 2026. Verify current rates directly with Upgrade before applying.