LendingClub vs Upgrade

The short version

LendingClub, now Happen Bank, and Upgrade both lend to borrowers with fair-to-good credit, both let you check your rate with a soft pull that leaves your score untouched, and both can send loan proceeds straight to your creditors for debt consolidation. Neither publishes a minimum credit score. Where they diverge is loan size and where the low end of the rate range comes from: LendingClub’s ceiling reaches $75,000, half again as much as Upgrade’s $50,000 cap, while Upgrade’s advertised floor requires Autopay and a direct payoff of existing debt to unlock.

APRs, as of September 2026, run 5.96% to 35.96% at LendingClub and 7.74% to 35.99% at Upgrade. LendingClub’s origination fee runs 0% to 8% of the loan amount; Upgrade’s runs 1.85% to 9.99%. Both lenders deduct the fee from your proceeds rather than billing it separately, so the APR already reflects it — compare offers by APR, not by the interest rate printed above it.

Rates and fees

LendingClub’s published range is 5.96% to 35.96% APR, with an origination fee of 0% to 8% of the loan amount deducted from your proceeds. It also charges no fee during a 15-day grace period on a late payment, though the fee that applies after that grace period isn’t published, and there’s no prepayment penalty. Upgrade’s published range is 7.74% to 35.99% APR, with an origination fee of 1.85% to 9.99%; rates at the bottom of that range require Autopay and paying off part of your existing debt directly through the new loan. Upgrade also charges up to $10 for a payment more than 15 days late and $10 for a failed payment, with no prepayment penalty.

Take a $10,000 loan over 36 months at the midpoint of each lender’s published APR range and fee range, to compare the two on equal footing.

LendingClub, 20.96% APR (midpoint of 5.96%-35.96%), using the midpoint of its 0%-8% fee range (4%). The fee is $400.00, so you’d receive about $9,600.00 in cash. An APR already includes the origination fee by definition, so we amortize the cash you actually receive at the APR rather than counting the fee a second time: a payment of about $361.48 a month, total payments of about $13,013.28, and a total cost of roughly $3,413.28 over the $9,600.00 you actually received. These are our own amortization figures, not a lender quote.

Upgrade, 21.87% APR (midpoint of 7.74%-35.99%), using the midpoint of its 1.85%-9.99% fee range (5.92%). The fee is $592.00, so you’d receive about $9,408.00 in cash. An APR already includes the origination fee by definition, so we amortize the cash you actually receive at the APR rather than counting the fee a second time: a payment of about $358.66 a month, total payments of about $12,911.76, and a total cost of roughly $3,503.76 over the $9,408.00 you actually received. These are our own amortization figures, not a lender quote.

Neither lender publishes its own worked example of a specific loan amount, rate, and fee combined the way some competitors do, so the figures above are our own illustration built from each lender’s published ranges rather than a quote from either company. On this comparison, LendingClub’s lower fee and lower midpoint APR produce both a lower monthly payment and a lower total cost than Upgrade’s.

Who qualifies

LendingClub, now Happen Bank, lists four requirements: at least 18 years old, a US citizen or resident living in one of the 50 states or DC (not a US territory), a verifiable bank account, and a Social Security number provided at the loan confirmation step. It also accepts joint applications with a coborrower, which it says can help you qualify or borrow more.

Upgrade’s published requirements are being at least 18 (19 in Alabama and some other states); being a US citizen, a permanent resident, or living in the US on a valid visa; having a verifiable bank account; and having a valid email address. Upgrade doesn’t describe a coborrower option on the pages we checked. Both lenders leave credit score unstated and base approval on your credit profile and income instead.

Speed and funding

LendingClub, now Happen Bank, says funds can arrive in as little as 24 hours once your loan is approved for funding, and it reports that 64% of loans approved for funding from January to March 2026 were disbursed within 24 hours, provided the application has no errors. Upgrade says funds are sent within one business day after the necessary verifications clear, once you’ve accepted an offer. On either lender, a portion sent directly to your creditors goes to them rather than your bank account.

Where each one wins

• LendingClub — a higher loan ceiling ($75,000 versus Upgrade’s $50,000) for a larger need.
• LendingClub — joint applications with a coborrower, which can help you qualify or borrow more.
• LendingClub — a slightly lower APR floor (5.96% versus Upgrade’s 7.74%) as of September 2026.
• Upgrade — a published origination fee floor (1.85%) alongside its ceiling, versus LendingClub’s 0%-to-8% range, so you can see where a strong-credit applicant might land on fee cost, not just the cap.
• Upgrade — licensed in Puerto Rico and open to applicants living in the US on a valid visa, where LendingClub requires a US citizen or resident living in one of the 50 states or DC.

Bottom line

If you need more than $50,000, or a coborrower would help you qualify, LendingClub’s higher ceiling and joint-application option make it the one to check first. If you’re consolidating debt and can meet Upgrade’s Autopay-and-payoff condition for the bottom of its rate range, Upgrade is worth comparing against it. Debt consolidation loans, explained is worth reading before you decide whether a personal loan is the right tool at all. Read the full LendingClub review and Upgrade review, then start a loan request to see what you might actually qualify for.