Personal Loans review

Upgrade review

Name: Upgrade review
Item: Upgrade
Rating: 8.9
Author: ChoosyOwl

Best for debt consolidation

Online lender with a soft-pull rate check and direct payment to creditors for debt consolidation. Borrowers consolidating credit card debt who want the lender to pay their creditors directly. We rank it #3 of 10 in our personal loans comparison, with an editorial score of 8.9 out of 10.

Updated November 14, 2026By the ChoosyOwl editorial teamHow we rank

8.9/10

Our editorial score

Upgrade scores highest on Borrower flexibility because it accepts joint applications, can pay creditors directly and offers rate discounts for autopay, direct debt payoff and secured options. It does well on Rate-check experience because its site says checking your rate is a soft inquiry. It scores lower on Cost transparency because its loans carry an origination fee deducted from the proceeds, so the APR can be noticeably higher than the interest rate.

How we score personal loans

Visit site

Lending disclosure.

We are not a lender and do not make credit decisions. We do not broker loans or arrange credit on your behalf. Rates, APRs, fees and terms are set by each lender and depend on your credit profile, income, loan amount, loan term and state of residence. Not all products are available in all states.

Checking your rate usually uses a soft credit inquiry that does not affect your credit score. Submitting a full application typically triggers a hard credit inquiry, which may affect your credit score. Approval is never guaranteed, and the rate you are offered may differ from any rate a lender advertises.

Representative example: Happen Bank (formerly LendingClub) shows this example on its site (https://www.happen.com/personal-loan): a borrower receives a loan of $15,262 for a term of 36 months, with an interest rate of 13.99% and a 6% origination fee of $916, for an APR of 18.40%. In this example, the borrower receives $14,346 and makes 36 monthly payments of $522. This example is as published on Happen Bank's site in November 2026; rates change, check your rate on the lender's site. It is an illustration from one lender, not an offer, and your own terms will differ.

Borrow only what you can repay. Missing payments can lead to late fees, collection activity and damage to your credit.

Quick facts

Our rank#3 of 10

Best forBest for debt consolidation

Lender typeOnline lender via partner banks

Soft-pull rate checkYes, soft-pull rate check

APR range (as published)7.74%-35.99% APR

Loan amounts (as published)$1,000-$50,000

Terms (as published)24-84 months

Fees (as published)Origination fee 1.85%-9.99%, deducted from loan proceeds

Facts checkedNovember 14, 2026

Details are general and can change. Check current plans, prices and terms on the Upgrade site. See the Upgrade company profile in our brand directory.

Overview

Upgrade is an online lending platform whose personal loans are issued by partner banks. Its site says checking your rate is a soft inquiry and that a hard inquiry happens when you fund the loan.

For debt consolidation, Upgrade lets you have part or all of the loan paid directly to your creditors, and its site says the lowest rates require autopay and paying off a portion of existing debt directly. It also accepts joint applications and offers discounts for using a car as collateral or, for homeowners, securing the loan with built-in fixtures.

As published on Upgrade's site in November 2026, APRs range from 7.74% to 35.99% with an origination fee of 1.85% to 9.99% deducted from the proceeds, terms run from 24 to 84 months and qualified applicants can borrow $1,000 to $50,000; rates change, check your rate on the lender's site.

Pros and cons

Pros

Direct creditor payment simplifies debt consolidation
Co-applicant option can help some borrowers qualify
Rate check does not affect your credit score
Several ways to lower the rate

Cons

Loans include an origination fee
Fee is deducted from the funds you receive
Secured discounts put collateral at risk

Key features

Soft-pull rate check before you apply
Option to pay creditors directly for debt consolidation
Joint applications accepted
Discounts for autopay, direct payoff and secured options (check current terms)

Who Upgrade is for

A good fit if

Borrowers consolidating credit card debt who want the lender to pay their creditors directly.

Look elsewhere if

Anyone who wants to avoid origination fees entirely.

How we scored Upgrade

Our personal loans score weighs cost transparency (25%), rate-check experience (25%), borrower flexibility (20%), customer protection & hardship options (20%), eligibility clarity (10%). See the methodology.

Upgrade alternatives

#1
SoFi
Best overall
Online bank with a soft-pull rate check, autopay discount, co-borrower option and published unemployment protection.
- Soft-pull rate check before you apply
- Autopay and member rate discounts (check current terms)
- Unemployment Protection Program (check eligibility)
- Co-borrower applications accepted
9.3/10
Editorial score
Visit site (SoFi, opens in a new tab) Read review Compare
#2
PenFed Credit Union
Best for no origination fee
Federal credit union with a soft-pull rate check, no origination fee and an autopay discount.
- Soft-pull rate check before you apply
- No origination fee, early payoff fee or balance transfer fee
- Rate discount for autopay set up before funding (check current terms)
- Loans for debt consolidation, home improvement and personal use
9.1/10
Editorial score
Visit site (PenFed Credit Union, opens in a new tab) Read review Compare
#4
Happen Bank (formerly LendingClub)
Best for joint applications
LendingClub's new name: a bank with a soft-pull rate check, joint applications and direct payment to creditors.
- Soft-pull rate check; hard inquiry only if a loan is issued
- Joint applications accepted
- Direct payment to creditors for balance transfer loans
- Operates as a bank (Happen Bank, N.A.)
8.8/10
Editorial score
Visit site (Happen Bank (formerly LendingClub), opens in a new tab) Read review Compare

Head-to-head

See all 10 personal loan options compared

Upgrade FAQ

Can Upgrade pay my credit cards directly?

Yes. Upgrade lets you send loan funds directly to your creditors, and its site says paying off existing debt directly is one way to get a lower rate. Check the current terms on Upgrade's site.

Does Upgrade charge an origination fee?

Yes. Upgrade's site says its personal loans carry an origination fee that is deducted from the loan proceeds. Your offer shows the fee and the APR. Check the current terms on Upgrade's site.

Can I apply for an Upgrade loan with someone else?

Upgrade accepts joint applications, which its site says may help you qualify for a bigger loan or a lower rate. Approval is not guaranteed.

Sources and fact check

We checked the facts on this page against Upgrade's own website on November 14, 2026. Published ranges are quoted as shown on the provider's site on November 14, 2026; they change, so check the current figures before you apply.