Best Bad Credit Loans.

Here’s how to apply for an Upgrade loan:

1. Pre-qualify online: Visit Upgrade’s website and input the loan amount and purpose to access the pre-qualification form. Choose between a joint or individual application, and provide basic details such as your name, address, date of birth, and income. Create an account with your email and a password, and enter your Social Security number. There’s no hard credit inquiry at this stage.
2. Review loan offers: If you qualify, you’ll see several loan offers with details on amounts, rates, repayment terms, and monthly payments. Select the offer that suits your budget to proceed with a formal loan application.
3. Complete the application: You may need to provide additional documents, such as W-2s and pay stubs, to verify the information from your pre-qualification. Upgrade will perform a hard credit check during this stage, which may cause a temporary dip in your credit score.
4. Receive approval and funds: Approval typically takes one to a few business days. Upgrade usually disburses funds the day after approval, though it might take longer if Upgrade is paying off other debts on your behalf.
5. Plan for repayment: Upgrade reports payments to all three major credit bureaus. Timely payments will improve your credit score, while missed payments can harm it. To manage your loan effectively, consider setting up automatic payments and monitoring your budget.

Here’s how to apply for an Upstart loan:

1. Pre-qualify on Upstart’s website: Enter your desired loan amount along with personal and financial details, such as your name, birthdate, email, and income. Upstart will perform a soft credit inquiry, which won’t affect your credit score. If you meet their criteria, you’ll receive multiple loan offers displaying potential amounts, rates, repayment terms, and monthly payments.
2. Compare offers and complete the application: Evaluate Upstart’s offers alongside pre-qualified options from other lenders to find the best deal. If you choose an Upstart loan, you’ll need to submit a formal application. Most applicants receive instant decisions, but some may need to provide additional documents, like W-2s, pay stubs, or tax forms, which could delay processing. Upstart will conduct a hard credit check during this stage, which may slightly lower your credit score.
3. Receive your loan funds: Upstart typically funds loans within one business day if accepted before 5 p.m. EST on a weekday. Loans accepted after hours, on weekends, or on holidays may take an additional business day to fund.
4. Manage your payments: Upstart reports payments to all three major credit bureaus (Equifax, Experian, and TransUnion). Timely payments will help improve your credit score, while missed payments can negatively impact it. To stay on track, consider setting up automatic payments and regularly monitoring your budget.