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Upgrade Card line of credit review

Borrowers with fair credit may qualify for credit lines up to $20,000.

  • Best for someone who wants a flexible funding source with low, fixed monthly payments.
  • Pick something else if you want to consolidate debt with a low APR.
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Min. Loan Amount$500
Max. Loan Amount$20,000
APR6.99% to 29.99%
Interest Rate TypeFixed
Min. Credit Score600
Loan TermUp to 5 years
Turnaround Time4 business days
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How much will this line of credit cost me?

There are no draw fees, prepayment penalties or cash transfer fees with the Upgrade line of credit, which helps cut down on costs. Each draw or group of draws turns into a five-year term loan with fixed monthly repayments, making it easy to budget.

You can get an idea of how much repayments will be depending on your draw amount, APR and repayment term with our calculator.

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How it works

The Upgrade line of credit comes with a Visa Upgrade card. You can use the card online or at retail locations where Visa is accepted, or get the funds sent directly to your bank account. However you choose to use the line of credit, you're limited to the maximum amount you're approved for — which can be between $500 and $20,000.

Pay down your balance by making equal payments each month, which can be debited directly from your bank account. Plus, there are no penalties for early repayments of any amount.

What do I need to qualify?

The Upgrade line of credit is currently offered to borrowers in 43 states. Other eligibility requirements include: 

  • Minimum credit score of 600
  • Minimum annual income of $30,000
  • Monthly cash flow of at least $800 to $1,000
  • Maximum debt-to-income ratio of 60%
  • Must be at least 18 years old
  • US citizen or permanent resident

What information do I need to apply?

Have the following information on hand before applying:

  • Recent pay stubs
  • Recent bank statements, bank account number, routing number and name of your bank
  • Government-issued ID like your driver’s license or passport
  • Name, address, and phone number
  • Social Security number
  • Date of birth
  • Employment information
  • Salary and income
  • Email address

In which states is the Upgrade line of credit available?

Currently, Upgrade offers its line of credit to borrowers living in all states except:

  • Iowa
  • Washington D.C.
  • West Virginia


  • No minimum draw amount 
  • No origination fees
  • Fixed interest rate
  • No hits to your credit when you make a new draw 
  • Access to Upgrade’s online credit health tools
  • Accepts cosigners


  • The Upgrade Card can't be used at ATMs
  • Bank account deposits can take four business days
  • Not available in seven states
  • Minimum $30,000 income is required
  • Currently no mobile banking available

Compare other personal loan providers

Name Product Filter Values APR Min. Credit Score Loan Amount
BHG personal loans
Accepts fair credit
$20,000 – $200,000
Best Egg personal loans
5.99% to 29.99%
$2,000 – $50,000
A prime online lending platform with multiple repayment methods.
SoFi personal loans
5.99% to 19.63%
$5,000 – $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
Credible personal loans
2.49% to 35.99%
Fair to excellent credit
$1,000 – $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Monevo personal loans
3.49% to 35.99%
$500 – $100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
Tally+ Express
7.9% to 29.99%
$2,000 – $30,000

Only available for Line of Credit and Debt consolidation

Upgrade personal loans
5.94% to 35.97%
$1,000 – $50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
LendingClub personal loans
8.05% to 35.89%
$1,000 – $40,000
A peer-to-peer lender offering fair rates based on your credit score.

Compare up to 4 providers

Is Upgrade legit?

Yes, Upgrade launched in 2017 and is a legitimate service. Besides personal loans and the Upgrade card, it gives borrowers access to free credit monitoring, affordable credit products, credit alerts and financial education tools. Its website is secured by McAfee. And it provides an easy-to-access privacy policy that details how it uses any information you provide, as well as how you can opt out of sharing.

Upgrade reviews and complaints

BBB accreditedYes
BBB ratingA+
BBB customer reviews4.9 out of 5 stars, based on 954 customer reviews
BBB customer complaints52
Trustpilot score4.7 out of 5 stars, based on 6,961 customer reviews
Customer reviews verified as of12 October 2020

Overall, customers are satisfied with Upgrade’s helpful and friendly customer service and quick approval process. However, there are several 1-star reviews from people who were sent preapproval letters, but were then denied once they submitted their application online.

How to make the most of the Upgrade Card

To make the most of your line of credit, Upgrade offers tools to monitor your credit score for free. Once you sign up, you get personalized recommendations tailored to you, informational articles and resources to gain a better understanding of your credit score and trends in your spending behavior.

How do I apply?

You can fill out an application for the Upgrade line of credit online by following these steps:

  1. Go to the Upgrade website and click Get Started under Upgrade Card.
  2. Enteryour contact information and income, then create an online account.
  3. Check the box agreeing to Upgrade’s terms and conditions.

Click Check Your Credit Line.

What happens after I apply?

You should receive a decision within minutes of submitting your application. If you're approved, you'll have instant access to your credit line. You can sign in to your online account and create a virtual card to use immediately, wait for the physical card to arrive or have the funds sent to your bank account. Transfers can take between one to four business days to arrive.

How do repayments work with an Upgrade line of credit?

With the Upgrade Card line of credit, you'll receive monthly statements through your online dashboard account. All monthly payments from any previous draws will be combined into one fixed payment, making it easy to budget each month. While some of your payments will go toward interest, others will go toward the principal — freeing up your credit line to borrow additional funds.

You won’t be on the hook for any fees or prepayment penalties with the Upgrade Card, meaning you can save on interest by paying off your line of credit faster. But keep in mind if there are changes to your credit score, employment or other risk factors, your interest rate and terms may change for future draws. 

Not ready to commit to Upgrade? Explore more options with our guides to the best lines of credit and personal loans.

Frequently asked questions


Review by

Kathryn Pomroy was a writer for Finder, specializing in loans. She has written for dozens of major publications, small businesses and many well-known personal finance companies, including LendingTree, Money Crashers, Quickbooks/Intuit, BankRate, LendEDU and more. Kathryn holds a BA in Journalism and drinks super bold coffee while eating peanut butter and honey toast.

Expert review

The Upgrade Card is a great solution if you’re looking for the fixed monthly payments of a personal loan, but the spending flexibility of a credit card. Each time you tap into your line of credit, you’ll get a fixed APR and payoff period of up to five years. It makes repayments easy to budget for, while still letting you spend when and where you need to.

However, if you live in one of the seven states outside of Upgrade’s service footprint or want to consolidate your debt, you’ll need to look elsewhere. With APRs that can reach as high as 29.99% and no 0% APR intro period, you can end up paying more than you might with a traditional debt consolidation loan or balance transfer credit card.

Not sure Upgrade is best for you? Take a look at more personal loan options below.

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