Avant vs Upgrade: Comparing Personal Loan Options

Side-by-Side Comparison

How Avant and Upgrade Compare

Both lenders are often considered by borrowers whose credit is fair rather than excellent, and neither publishes a minimum credit score. Third-party reviewers report different figures (NerdWallet lists 550 for Avant and 600 for Upgrade), so treat those as estimates and rely on the soft-pull rate check each offers.

The main contrasts are scale and flexibility. Upgrade lends more ($1,000 to $50,000 versus $2,000 to $35,000), offers longer terms (up to 84 months versus 60), and accepts joint applications. Avant charges an administration fee of up to 9.99%, while Upgrade states an origination fee of 1.85% to 9.99%. Both deduct the fee from your proceeds, so compare offers by APR.

Who Each May Fit

Avant may be worth comparing if you want a smaller loan and next-business-day ACH funding, and you do not need a co-borrower. Its published APR floor of 9.95% is higher than lenders that target strong credit, so it is usually compared with other fair-credit options.

Upgrade may be worth comparing if you want a longer term, a larger amount, or the option to apply with a co-borrower, in which case both of you are fully responsible for the loan. Its lowest rates are described as available when funds pay existing debt directly, which can take up to 2 weeks to reach creditors.

Questions to Ask Before Choosing

Check the APR and fee in your own offer, the late and returned-payment fees in the loan agreement (Avant does not publish the amounts and they vary by state), and whether you can afford the payment on a shorter term. Neither lender guarantees approval, and rates, fees and availability can change.