Upgrade Personal Loan

Upgrade covers a wide set of borrowers: loans from $1,000 to $50,000, terms of 24 to 84 months, joint applications, and a rate check that uses only a soft inquiry. Its APRs run from 7.74% to 35.99%, with a one-time origination fee of 1.85% to 9.99% that is deducted from the loan proceeds. Upgrade says applying with another person may help you qualify for a bigger loan, a better rate or both, because both credit profiles are taken into account. The cost depends on the discounts you take. Upgrade says the lowest rates require Autopay and paying off a portion of your existing debt directly, and some discounts require collateral, such as a car or built-in fixtures at home. It does not publish the size of the discounts. Upgrade's own example: a $10,000 loan with a 5% fee ($500) pays out $9,500 and carries a 17.59% APR, which includes a 13.94% yearly interest rate, for $341.48 a month over 36 months. Money arrives within 1 business day of clearing verifications, or up to 2 weeks if it goes directly to third-party creditors. There is no prepayment fee, and even if you do not qualify, Upgrade says the application will not hurt your credit score because it only does a soft credit check. Certain offers may not be available in all states, and joint applications are not available for every offer. Upgrade publishes no minimum credit score, so the 35.99% ceiling is the number to weigh if your credit is thin.