LendingPoint vs Upgrade

The short version

LendingPoint 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 neither publishes a hard minimum credit score. LendingPoint’s loans are funded through banks including FinWise Bank and Coastal Community Bank or directly by LendingPoint where it’s licensed; Upgrade’s loans are originated by a bank, currently Cross River Bank. Where they diverge most is loan ceiling and term: Upgrade can lend up to $50,000 over as long as 84 months, against LendingPoint’s $36,500 cap and 72-month maximum.

APRs, as of September 2026, run 7.99% to 35.99% at LendingPoint and 7.74% to 35.99% at Upgrade. LendingPoint’s origination fee runs 0% to 10% 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

LendingPoint’s published range is 7.99% to 35.99% APR, with an origination fee of 0% to 10% of the loan amount deducted from your proceeds, and 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.

LendingPoint, 21.99% APR (midpoint of 7.99%-35.99%), using the midpoint of its 0%-10% fee range (5%). The fee is $500.00, so you’d receive about $9,500.00 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 $362.76 a month, total payments of about $13,059.36, and a total cost of roughly $3,559.36. These are our own amortization figures, not a lender quote. The LendingPoint review’s own illustration (our math, not a LendingPoint quote), at 29.99% APR with a 6% fee over 60 months, put the payment at about $304.06 a month and total payments at about $18,244.

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. These are our own amortization figures, not a lender quote. The Upgrade review’s own illustration (our math, not an Upgrade quote), at a 20% interest rate with a 6% fee, put the payment at about $372 a month and total payments at about $13,379.

Who qualifies

LendingPoint asks for verifiable annual income of at least $35,000, an active US bank account, and an age of at least 18; it doesn’t publish a hard minimum credit score, though third-party analyses put the practical floor around 640. It isn’t available in Connecticut, Iowa, Maryland, Maine, Nebraska, Nevada, Vermont, West Virginia, or DC. 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; a verifiable bank account; and a valid email address. Upgrade is licensed in all 50 states, DC, and Puerto Rico, acting as a broker rather than the lender in Vermont.

Speed and funding

LendingPoint says decisions are often available within minutes to hours of completing an application, with funds typically sent by ACH as soon as the next business day after you e-sign the final loan agreement. 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

• LendingPoint — a fee floor of 0%, so some borrowers pay no origination fee at all, versus Upgrade’s 1.85% minimum.
• LendingPoint — decisions often within minutes to hours of applying, a speed Upgrade doesn’t quote on the pages we checked.
• Upgrade — a lower APR floor (7.74% versus LendingPoint’s 7.99%) as of September 2026.
• Upgrade — terms up to 84 months versus LendingPoint’s 72-month ceiling, for a lower payment on a large balance.
• Upgrade — a higher loan ceiling ($50,000 versus LendingPoint’s $36,500).

Bottom line

If you’re in a state LendingPoint serves and might qualify for its 0% fee floor, it’s worth checking your rate there first. If you need a larger loan, a longer term, or live in Puerto Rico or one of the states LendingPoint excludes, Upgrade’s wider reach and higher ceiling make it the one to compare against it. Origination fees and prepayment penalties, decoded is useful context before you accept either offer. Read the full LendingPoint review and Upgrade review, then start a loan request to see what you might actually qualify for.