Credit cards often have high variable interest rates that increase at any time. This can make it hard to know the true cost of a project and predict when you'll be able to pay it off. When a specific project cost is mixed in with other living expenses it can become even more difficult to plan when it'll be paid off or even recognize when, or if, it has. With a personal loan through Upgrade, we eliminate those surprises. A personal loan can provide you with a low fixed rate and fixed monthly payments, so you know how much to budget each month and can circle the date on the calendar when the loan will be fully paid.

Read more about the pros and cons of paying for unexpected expenses with a personal loan, credit card and more.

Checking your rate won’t impact your credit score. When you check your rate to see what offer(s) you may qualify for, we perform a soft inquiry on your credit report, which won’t impact your credit score. Soft inquiries can only be seen by you. When you accept your offer and submit your bank account information, we perform a second soft inquiry which also does not impact your credit score. Once your loan is funded, we perform a hard inquiry on your credit report, which may impact your credit score and can be viewed by third parties.

Don't worry, if you find that you can pay off your loan before your final payment, that's great! You won't be penalized — there are no prepayment fees!