Personal Credit Line

Flexible credit that fits your needs

  • Total line up to $50,000*

  • Use as much as you need, when you need it†

  • No origination fee

  • Low fixed rates for each draw

  • Affordable monthly payments

Why Get a Personal Credit Line?

Get the money you need to accomplish what you need to do today, continue to access your line to pay for what you need tomorrow.†


Funds on Demand

Receive the funds in your account anytime, and only pay interest on the amount you need, when you need it.†


Fixed Rate for Each Draw

Unlike a credit card, an Upgrade Personal Credit Line draw comes at a fixed rate, so you can budget for fixed monthly payments.


No Origination Fee

An Upgrade Personal Credit Line comes with no origination fee, no fee to open the line and no fee for draws.

How it Works

With your Personal Credit Line you get choice and flexibility

  1. Open your credit line

    Apply online and get a total credit line up to $50,000. This credit line is yours to use – use the amount you need, when you need it.†

  2. Pick your amount

    Select the amount you want from your credit line. You can do this as often as you want, up to your available credit.†

  3. Funds sent directly to you

    Get your funds sent straight to your bank account. You can easily request a draw for the amount you need as you need it.

Here's How Personal Credit Line Stacks Up

Personal Credit LinePersonal LoanTypical Credit Cards
Low rates
Fixed rate for each draw
Know your pay-off date for each draw
Equal monthly payments for each draw
No origination fee
Pay interest only when you use it
Ongoing credit availability
(Personal Credit Line draws subject to underwriting)

We’re here to help

Why use an Upgrade Personal Credit Line instead of a credit card?

With a Personal Credit Line you can budget for predictable monthly payments when you access your line. You will be paying down your balance at a fixed rate over a fixed time period when you request a draw. In contrast, borrowing with credit cards is open-ended with no set pay-off date, and can come with higher fees. Credit cards often come with variable rates that can increase on existing balances when the prime rate goes up.

Why choose a Personal Credit Line instead of a home equity line of credit or HELOC?

With a Personal Credit Line from Upgrade, you don’t have to use your home as collateral or spend a lot of time going through a lengthy application, appraisal and approval process. Plus, there's no origination fee, no fee to open the line and no fee for draws. With a home equity loan or HELOC, you can use the value of your home as collateral to get a lower rate, but that means you have to first go through the process of getting an updated home appraisal and complete more documentation to know how much you qualify for. Additionally, using the equity in your home can work against you if your property value declines. HELOC rates may be adjustable, which means your HELOC payments may increase on existing balances. In contrast, your Upgrade Personal Credit Line balance comes with a fixed rate and fixed monthly payments for each draw.

How are the rates fixed on a personal line of credit?

Since the rates are fixed for each time you draw from your line, you'll know how much you need to budget each month and can circle the date when the amount you borrowed will be paid off.

How do I pay back the money I borrow?

You'll receive a monthly statement that will combine the payments for all your draws into one tidy payment. Keep track of when each draw is paid off from your personal online dashboard. Payments are applied proportionally to previous draws. Payments or prepayments may not be allocated to a specific draw. As you repay your total balance, your available credit may be replenished by the amount repaid, up to the limit of your line.†

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