Upgrade and SoFi are two of the most popular online personal loan lenders, but they serve different borrower profiles. SoFi is the premium option — no fees, the lowest rates for qualified borrowers, and loan amounts up to $100,000. Upgrade is the accessible option — it accepts lower credit scores and has a simpler approval process, though it charges origination fees and has a higher maximum APR.
WiseIQ Verdict
Winner: SoFi for good credit; Upgrade for fair credit
If your credit score is 680+, SoFi is almost always the better choice — no origination fee, lower maximum APR, and larger loan amounts. If your score is 580–679, Upgrade is more likely to approve you and may offer comparable rates.
| Feature | SoFi |  Upgrade |
|---|---|---|
| Minimum Credit Score | ~640–680 | 580 |
| APR Range | 8.99%–29.99% | 9.99%–35.99% |
| Loan Amount | $5,000–$100,000 | $1,000–$50,000 |
| Loan Terms | 24–84 months | 24–84 months |
| Origination Fee | None | 1.85%–9.99% |
| Late Fee | None | Up to $10 |
| Prepayment Penalty | None | None |
| Funding Speed | Same day (for qualified) | 1 business day |
| Unemployment Protection | Yes (pause payments) | No |
Related Articles & Guides
SoFi Personal Loan — Best for Good Credit
Upgrade Personal Loan — Best for Fair Credit
Frequently Asked Questions
Is Upgrade or SoFi better for personal loans?
What credit score do you need for SoFi vs Upgrade?
Does SoFi or Upgrade have lower rates?
Does Upgrade charge an origination fee?
Which is better for debt consolidation — Upgrade or SoFi?
Sources & Methodology
WiseIQ's editorial team researches and fact-checks all content using primary sources. Our recommendations are based on independent analysis and are not influenced by advertiser relationships.
- Consumer Financial Protection Bureau (CFPB)
- Federal Reserve — Consumer Credit Report (G.19)
- myFICO Credit Education
- Issuer and lender websites — rates, terms, and eligibility verified directly from source
Last reviewed: April 3, 2026 | How we rank products