If you’re considering a personal loan, Upgrade and Upstart may both appeal to you for different reasons. Upgrade requires a lower credit score minimum and offers direct payment to your creditors. Upstart, on the other hand, considers factors outside your credit score. Both lenders offer quick turnaround times and approve loans for those with fair credit profiles.
| Upgrade | Upstart | |
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| Finder rating | ★★★★★ | ★★★★★ |
| Loan products offered |
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| Interest rates | 7.74% to 35.99% (includes origination fee) | 6.30%–35.99% (includes any origination fee) |
| Fees | Between 1.85% and 9.99% origination fee | Between 0% and 12% origination fee |
| Loan amounts | $1,000 to $50,000 | $1,000–$75,000 (state minimums vary) |
| Turnaround time | 1 to 4 business days | As soon as the next business day |
| Eligibility requirements |
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| Ratings |
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| State availability | Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia | Not available in: Connecticut, Iowa, Maine, Maryland, Nevada, New York, Oklahoma, Oregon, West Virginia |
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| Cons |
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Upgrade and Upstart both welcome borrowers with fair to good credit scores and can approve up to $50,000 in personal loans. Upgrade allows you to have a wide range of term lengths, while Upstart’s AI-driven model approves borrowers with criteria outside of credit scores, such as education and employment. While Upgrade may offer a suite of education resources and generous personal loan term lengths, both borrowers are a great option for borrowers depending on their needs.
Upgrade may be the right lender for you if you need:
Upstart may be a more compatible option if you want:
While Upstart has lower minimum APRs and is available in more US states, both lenders offer quick application processes, fast funding and are highly rated by the Better Business Bureau (BBB).
Compare up to four lenders side-by-side to see how they stack up.
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How we picked theseThe Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
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