6 oct 2026 ·
Advertiser: Every figure below comes from the lender’s own website, and we explain our method at the end of the article.
Upgrade and Upstart are two of the most popular online personal loan options for people who don’t have perfect credit. Both let you check your rate with a soft credit pull, both offer fixed rates, and both can send money within about one business day. Yet they’re built for different borrowers.
Upgrade gives you more flexibility: longer terms, joint applications and rate discounts. Upstart reaches further down the credit spectrum and lends larger amounts, but its fees can run higher and you only get two term options.
Below we compare both side by side, using the terms each lender published as of October 6, 2026.
Quick verdict
- Choose Upgrade if you want a co-borrower, a loan term longer than five years, or a lower APR through autopay, direct creditor payoff or collateral.
- Choose Upstart if your credit history is thin or your score is low, or if you need more than $50,000.
- Either way, prequalify with both. It won’t hurt your credit score, and the APR you’re actually offered matters more than any advertised range.
Upgrade vs Upstart at a glance
Upstart wins on loan size and credit access; Upgrade wins on flexibility and fees. Figures are taken from each lender’s official site, checked October 6, 2026.
| Feature | Upgrade | Upstart |
|---|---|---|
| APR range (fixed) | 7.74% – 35.99% | 6.3% – 35.99% (5-year rates, June 2026) |
| Origination fee | 1.85% – 9.99% | 0% – 12% (reported by NerdWallet; varies by lending partner) |
| Loan amounts | $1,000 – $50,000 | $1,000 – $75,000 (higher minimums in GA, HI, MA) |
| Repayment terms | 24 – 84 months | 36 or 60 months only |
| Minimum credit score | Not published (reviewers commonly cite about 580) | Not published (reviewers report 300 in most states; thin credit files considered) |
| Rate check | Soft pull, no score impact | Soft pull, no score impact |
| Funding speed | Within 1 business day after verifications clear | Next business day if accepted by 5 p.m. ET on a weekday |
| Joint applications | Yes | No |
| APR discounts | Autopay, direct creditor payoff, car or home-fixture collateral | None advertised |
| Secured option | Yes (car or home built-ins) | Possibly, with a vehicle lien |
| Prepayment penalty | None | None |
| Who funds the loan | Upgrade’s bank partners | Banks and credit unions on Upstart’s marketplace |
Sources: Upgrade personal loans, Upstart personal loans, NerdWallet Upstart review.
Rates and fees: what a loan really costs
The two APR ranges nearly match at the top (35.99%), so the real difference is the origination fee and the term you choose. An origination fee is a one-time charge taken out of your loan before the money reaches you. It is already included in the APR, which is why you should always compare APRs, not interest rates.
Each lender’s own example
Both lenders publish a representative loan. We put them side by side below. They use different terms, so treat them as illustrations, not a head-to-head price test.
| Example loan | Upgrade | Upstart |
|---|---|---|
| Loan amount | $10,000 | $10,000 |
| Term | 36 months | 60 months |
| Interest rate | 13.94% | 19.08% |
| Origination fee | 5% ($500) | 8.15% ($815) |
| APR | 17.59% | 23.37% |
| Cash you receive | $9,500 | $9,185 |
| Monthly payment | $341.48 | $261 |
| Total repaid | $12,293.46 | about $15,660 |
The Upstart example has a lower monthly payment because it stretches over five years. It costs about $3,400 more in total, though. A longer term almost always means paying more interest overall.
The fee trap: borrow enough to cover it
Because the fee is subtracted upfront, you need to borrow a little more than you need. If you need $10,000 in hand and the fee is 5%, you’d have to borrow about $10,526. At 8%, that rises to about $10,870.
This matters most for debt consolidation. If the cash you receive falls short of your card balances, part of your old debt stays behind.
How to lower your rate
- Upgrade offers lower rates for setting up autopay, for sending part of the loan directly to your creditors, and for securing the loan with your car. Homeowners can also secure it with built-in fixtures such as cabinets or light fixtures, without using the house itself as collateral.
- Upstart doesn’t advertise rate discounts. Your rate depends on its underwriting model, which looks at your credit, income, employment and education.
Neither lender charges a fee for paying off your loan early.
Eligibility and credit score
Upstart is the easier lender to qualify with if your credit is thin or damaged. Upgrade is easier if you can add a co-borrower.
Upgrade requirements
Upgrade looks at your credit score, credit usage, payment history, loan amount and term. According to its website, you must:
- Be a U.S. citizen, a permanent resident, or living in the U.S. on a valid visa
- Be at least 18 (older in states with a higher age of majority)
- Have a verifiable bank account and a valid email address
Upgrade doesn’t publish a minimum credit score. Independent reviewers such as Finder list about 580. You can apply jointly, which may help you qualify for a larger loan or a lower rate. Both applicants are then responsible for repayment.
Upstart requirements
Upstart’s model considers your education and employment alongside your credit history. It notes that neither it nor its partner lenders require any minimum level of education. Upstart also doesn’t publish a minimum score, but reviewers such as Finder and WalletHub report it accepts scores as low as 300 in most states, and even some applicants with no score.
The trade-off: Upstart doesn’t allow co-signers or co-borrowers, so you must qualify on your own. A low score can also mean an APR close to the 35.99% ceiling.
Loan amounts, terms and funding speed
Loan size. Upstart lends up to $75,000, versus $50,000 at Upgrade. Upstart sets higher minimums in some states: $3,100 in Georgia, $1,500 in Hawaii and $7,000 in Massachusetts.
Terms. Upgrade offers terms from 24 to 84 months, so you can pick a shorter term to save interest or a longer one for a smaller payment. Upstart offers only 36 or 60 months.
Funding. Both are fast:
- Upgrade sends funds within one business day after you clear its verifications. If part of your loan goes directly to creditors, that portion can take up to two weeks.
- Upstart sends funds the next business day if you accept by 5 p.m. ET, Monday through Friday. It says 99% of personal loan funds go out one business day after signing.
In both cases, when the money appears in your account depends on your bank.
Credit check. Checking your rate is a soft inquiry at both lenders and won’t affect your score. A hard inquiry happens only when you move forward with the loan.
Which one is right for you?
| Your situation | Better fit | Why |
|---|---|---|
| Low score or little credit history | Upstart | Its model weighs income, job and education, not just your score |
| You can apply with a partner or spouse | Upgrade | Joint applications allowed; Upstart doesn’t accept co-borrowers |
| You need more than $50,000 | Upstart | Lends up to $75,000 |
| You want a payment spread over 6–7 years | Upgrade | Terms up to 84 months |
| Consolidating credit card debt | Upgrade (slight edge) | Rate discount when funds go straight to creditors |
| You own a car or home and accept collateral | Upgrade | Secured options can lower your rate |
| Good-to-excellent credit | Compare both | Upstart may offer a 0% fee; Upgrade’s minimum fee is 1.85% |
Upgrade pros and cons
Pros
- Flexible terms from 24 to 84 months
- Joint applications accepted
- Several ways to lower your APR
- Origination fee capped at 9.99%
Cons
- Every loan carries an origination fee of at least 1.85%
- Maximum loan of $50,000
- Portions sent directly to creditors can take up to two weeks
Upstart pros and cons
Pros
- Considers more than your credit score
- Loans up to $75,000
- Origination fee can be 0% for strong applicants
- Next-business-day funding
Cons
- Origination fee can reach 12%, among the highest of major online lenders
- Only 36- or 60-month terms
- No co-signers or co-borrowers
- No advertised rate discounts
If neither fits
If both offer you an APR near 36%, step back before you sign. A 0% intro APR balance transfer card, a credit union personal loan, or a lender that accepts co-signers may cost less. We cover these options in our guide to personal loans for fair credit.
How we compared these lenders
We compared both lenders on five factors: APR range, origination fees, eligibility, loan amounts and terms, and funding speed. Every figure comes from the lender’s official website, checked on October 6, 2026. Where a lender doesn’t publish a number, such as a minimum credit score, we say so and cite the independent reviewer that reported it.
We did not apply for these loans ourselves, and we don’t receive any data that you can’t see on the lenders’ public pages. Rates and terms change often, so we review this comparison at least once every quarter.
Frequently asked questions
Is Upgrade or Upstart better for bad credit?
Upstart is usually the more accessible option, because its model looks beyond your score and reviewers report it accepts scores as low as 300 in most states. Upgrade can be a better route if you can add a co-borrower with stronger credit.
Which has lower fees, Upgrade or Upstart?
It depends on your profile. Upstart’s fee can be 0% for strong applicants but can reach 12%. Upgrade always charges something, but never more than 9.99%. Compare the APR on your actual offers, since it already includes the fee.
Will checking my rate hurt my credit score?
No. Both lenders use a soft inquiry to show your rate. A hard inquiry only happens if you accept an offer and continue with the application.
How fast can I get the money?
Both lenders typically send funds within one business day once your loan is approved and verified. Your bank’s processing time can add a delay.
Can I pay off my loan early?
Yes. Neither Upgrade nor Upstart charges a prepayment penalty, and paying early reduces the total interest you pay.
Are Upgrade and Upstart banks?
No. Upgrade is a financial technology company whose loans are made by its bank partners. Upstart is a lending marketplace; the loans come from banks and credit unions that use its platform.
Disclaimer
This article is for general information only and is not financial advice. We are not a lender or a financial advisor. APRs, fees and requirements shown are those published by each lender on the date above and may change at any time. Your actual offer depends on your credit, income, state and other factors. Always read the full loan agreement and compare several offers before you borrow.