Is Upgrade a legitimate company?

Note: According to the Better Business Bureau (BBB), Upgrade’s name and logo have been fraudulently used as part of loan scams. Upgrade does not charge any advanced fees in exchange for receiving a loan, so if a company claiming to be Upgrade charges such a fee, it should be reported as a scam.

Is Upgrade a secured loan?

Most Personal Loans through Upgrade are unsecured, so you don’t have to put up any kind of collateral. Plus, you can avoid any lengthy appraisal and approval process. In some cases, you may be given the option of adding collateral to help you qualify for a loan or a lower rate. Learn more about auto secured loans.

What bank is Upgrade loans?

Upgrade Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Rewards associated with the Upgrade Card, when applicable, are provided by Upgrade, Inc. More information is available at: https://www.upgrade.com.

What credit score do I need for Upgrade?

560
Upgrade’s minimum credit score requirement is 560, which is on the upper end of the “poor” range, according to credit bureau Experian. Borrowers with bad credit may qualify for an Upgrade loan, although Upgrade will look at multiple factors, including income and credit history, when evaluating applications.

Does Upgrade require proof of income?

Upgrade requires two recent years of tax returns and most recent bank statements to verify income for self-employed (sole proprietor) borrowers. It may also request additional documentation.

What credit score do you need for Upgrade?

Does Upgrade ask for proof of income?

Does Upgrade call your employer?

Upgrade may request the name of your employer, the telephone number, and your date of hire, if applicable. We may also request certain income documents in relation to your employment.

What credit score do you need for upgrade?

Does upgrade do a hard pull?

If you receive a loan through Upgrade, we will perform a hard inquiry, which may impact your credit score. A new borrower may see a small drop in their credit score when they receive a new loan, but the score typically climbs back up with time and on-time payments.

Does upgrade call your employer?

Does upgrade ask for proof of income?

https://www.youtube.com/watch?v=amLqAzZkH8w