What Upgrade Offers
Upgrade is a popular online lender offering personal loans with competitive rates and flexible terms. They provide credit monitoring tools and allow joint applications. Here's a quick overview:
Upgrade's key features:
- Minimum credit score of 560 required
- Origination fees range from 1.85% to 9.99%
- Fast funding - often next business day after approval
- Free credit monitoring and financial education tools included
- Joint applications available for better approval odds
- Flexible terms up to 7 years
Why You Might Need an Upgrade Alternative
While Upgrade is a solid option for many borrowers, you might look elsewhere if:
- You were declined: Upgrade requires a 560+ credit score and considers debt-to-income ratio, which may be too strict for some borrowers
- Looking for lower origination fees: Upgrade charges 1.85%-9.99% origination fees; some lenders offer lower or no fees
- Want different loan features: Some lenders offer AI-based approval, secured options, or unique perks
- Comparing rates from multiple lenders: Smart borrowers always compare 3-5 lenders to find the best deal
- Need more flexibility: Some alternatives offer longer terms, higher loan amounts, or more lenient requirements
- Credit score below 560: Several lenders accept lower scores (550 or even no minimum)
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Top 5 Upgrade Alternatives Compared
Here's how the best Upgrade alternatives stack up:
| Lender | Min. Credit | APR Range | Loan Range | Max Term | Origination Fee |
|---|---|---|---|---|---|
| Upgrade (baseline) | 560 | 9.99% - 35.99% | $1K - $50K | 7 years | 1.85% - 9.99% |
| Upstart | 300* | 7.80% - 35.99% | $1K - $50K | 5 years | 0% - 12% |
| SoFi | 680 | 8.99% - 29.99% | $5K - $100K | 7 years | No fee |
| Avant | 550 | 9.95% - 35.99% | $2K - $35K | 5 years | Up to 4.75% |
| LendingClub | 600 | 9.57% - 35.99% | $1K - $40K | 5 years | 3% - 8% |
| Best Egg | 640 | 8.99% - 35.99% | $2K - $50K | 5 years | 0.99% - 8.99% |
*Upstart accepts applications from borrowers with scores as low as 300, but approval depends on their AI model assessment of multiple factors including education and employment.
Detailed Alternative Reviews
1. Upstart - Best for AI-Based Approval
Top PickUpstart uses AI-powered underwriting that considers education, employment history, and earning potential beyond just credit score. Excellent option if you have limited credit history but strong income or education credentials.
Why Choose Over Upgrade
- Lower minimum APR (7.80% vs 9.99%)
- Considers education and job history in approval
- No minimum credit score (accepts 300+)
- Great for thin credit files with good income
Considerations
- Higher maximum origination fee (12% vs 9.99%)
- Shorter maximum term (5 years vs 7 years)
- Stricter income requirements
Best for: Borrowers with limited credit history but strong education/employment credentials.
2. SoFi - Best for Excellent Credit (Lowest Rates)
No FeesSoFi offers some of the lowest rates in the industry with absolutely no origination fees. They also provide unemployment protection, career coaching, and financial planning services at no extra cost.
Why Choose Over Upgrade
- No origination fees (save 1.85%-9.99%)
- Lower maximum APR (29.99% vs 35.99%)
- Higher loan amounts (up to $100K)
- Unemployment protection included
- Member benefits (career coaching, financial planning)
Considerations
- Higher minimum credit score (680 vs 560)
- Minimum loan amount $5K (vs $1K)
- Best rates reserved for excellent credit
Best for: Borrowers with excellent credit (680+) seeking lowest rates and no fees.
3. Avant - Best for Lower Credit Scores
Bad Credit FriendlyAvant specializes in serving borrowers with fair to poor credit, accepting scores as low as 550. They offer significantly lower origination fees than Upgrade and fast funding.
Why Choose Over Upgrade
- Lower origination fees (max 4.75% vs 9.99%)
- Accepts slightly lower credit scores (550 vs 560)
- Next-day funding common
- Mobile app for easy loan management
Considerations
- Lower maximum loan amount ($35K vs $50K)
- Shorter maximum term (5 years vs 7 years)
- $25 late payment fee
- Not available in all states
Best for: Borrowers with credit scores between 550-620 who need quick funding.
4. LendingClub - Best Established Platform
Trusted Since 2007LendingClub is America's largest peer-to-peer lending platform with a proven track record since 2007. They offer competitive rates and moderate origination fees for borrowers with fair to good credit.
Why Choose Over Upgrade
- Lower starting APR (9.57% vs 9.99%)
- Lower origination fees (3%-8% vs 1.85%-9.99%)
- Well-established, trusted platform
- No prepayment penalties
- Joint applications available
Considerations
- Higher minimum credit score (600 vs 560)
- Lower maximum loan amount ($40K vs $50K)
- Shorter maximum term (5 years vs 7 years)
- Funding can take longer (3-5 days)
Best for: Borrowers with 600+ credit who want an established, reputable platform.
5. Best Egg - Best for Competitive Rates
Low RatesBest Egg offers competitive rates and lower origination fees than Upgrade. They're ideal for borrowers with good to excellent credit looking for the best overall value.
Why Choose Over Upgrade
- Lower starting APR (8.99% vs 9.99%)
- Lower origination fees possible (0.99%-8.99%)
- Same maximum loan amount ($50K)
- Fast funding (1-3 business days)
- Secured loan option available for better rates
Considerations
- Higher minimum credit score (640 vs 560)
- Shorter maximum term (5 years vs 7 years)
- Minimum loan amount $2K (vs $1K)
- Income requirements may be higher
Best for: Borrowers with 640+ credit seeking competitive rates and low fees.
How Swipe Solutions Helps You Compare
Instead of applying to multiple lenders one-by-one (and risking multiple hard credit pulls), Swipe Solutions lets you:
- Compare multiple offers at once: See rates from various lenders with one form
- No credit score impact: We use soft pulls that don't affect your score
- Get matched based on your profile: Our system shows you lenders most likely to approve you
- Save time: Results in 2 minutes vs. hours of individual applications
- Access loan calculator: Estimate payments and total costs before applying
- Find local options: See lenders available in your state
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