LendingClub vs Upgrade
LendingClub offers larger loan amounts up to $40,000 with lower APRs starting at 6.95%, while Upgrade provides smaller loans up to $35,000 with faster approval and funding, often within 24 hours, making it better for those needing quick cash despite slightly higher rates.
LendingClub
Online peer-to-peer lending platform offering personal loans and investment opportunities with rapid funding.
Borrowers with good-to-excellent credit seeking the lowest interest rates and largest loan amounts with flexible repayment schedules
Upgrade
FinTech lending platform offering personal loans up to $35,000 with same-day approval and next-day funding.
Borrowers with fair credit who need emergency funds quickly, prefer mobile convenience, or want to avoid late fees
Short Answer
LendingClub offers larger loan amounts up to $40,000 with lower APRs starting at 6.95%, while Upgrade provides smaller loans up to $35,000 with faster approval and funding, often within 24 hours, making it better for those needing quick cash despite slightly higher rates.
Our Verdict
AI-assistedChoose LendingClub if you have good credit (660+), want the lowest possible APR, need to borrow up to $40,000, or prefer longer repayment terms up to 84 months. Choose Upgrade if you need funds within 24 hours, have fair credit (620+), want to avoid late fees entirely, or prefer a streamlined mobile-first application process.
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Choose LendingClub if
Borrowers with good-to-excellent credit seeking the lowest interest rates and largest loan amounts with flexible repayment schedules
Choose Upgrade if
👑 Best pickBorrowers with fair credit who need emergency funds quickly, prefer mobile convenience, or want to avoid late fees
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Key Differences at a Glance
Key Facts & Figures
27 numeric metrics compared
| Metric | LendingClub | Upgrade | Ratio |
|---|---|---|---|
| Maximum Loan Amount(USD) | $40,000 | $35,000 | +14% |
| Minimum APR(%) | 6.95% | 8.99% | -23% |
| Maximum APR(%) | 35.99% | 35.97% | |
| Minimum Credit Score Required(score) | 600 | 620+ | -3% |
| Typical Funding Time(business days) | 2-3 days | 1 day | +150% |
| Number of Repayment Term Options(options) | 2 options (36/60 mo) | 4 options (24/36/48/60 mo) | -50% |
| Minimum Credit Score(points) | 580+ | — | — |
| Maximum Personal Loan Amount(USD) | $40,000 | — | — |
| Credit Card Options(count) | 0 cards | — | — |
| Customer Base(millions) | 3.5+ million | — | — |
| Minimum Interest Rate(%) | 6.95% | — | — |
| Average Origination Fee(%) | 6% | — | — |
| Maximum Interest Rate(%) | 35.99% | — | — |
| Number of Financial Products(Count) | 1 (personal loans only) | — | — |
| Time to Funding(hours) | 24-72 hours | 24 hours or less | +300% |
| Maximum Repayment Term(months) | 84 months | 60 months | +40% |
| Late Payment Fee(USD) | $10-$15 | $0 | |
| Maximum Origination Fee(%) | 6% | 12% | -50% |
| Customer Satisfaction Rating(stars) | 4.2 out of 5 | 4.4 out of 5 | -5% |
| Minimum FICO Score Required(score) | 600 | — | — |
| Total Assets(billion USD) | $12.8B | — | — |
| Customer Base Size(millions) | 3.5 million | — | — |
| Credit Card Products(count) | 0 | — | — |
| Loan Funding Speed(business days) | 1 day (same-day available) | — | — |
| Loan Funding Timeline(business days) | 1-3 business days | — | — |
| Credit Card Products Available(count) | 0 cards | — | — |
| Physical Branch Locations(count) | 0 branches (online only) | — | — |
Sourced from publicly available data · Jun 2026
Key Differences
7 attributes compared head-to-head
LendingClub
$40,000🏆
Upgrade
$35,000
LendingClub
6.95% - 35.99%🏆
Upgrade
8.99% - 35.99%
LendingClub
1-3 business days
Upgrade
24 hours or less🏆
LendingClub
660+
Upgrade
620+🏆
LendingClub
24-84 months🏆
Upgrade
24-60 months
LendingClub
$10-$15
Upgrade
$0 (No late fees)🏆
LendingClub
0% - 6%🏆
Upgrade
0% - 12%
Full Comparison
| Attribute | LendingClub | Upgrade |
|---|---|---|
| Maximum Loan Amount(USD) | $40,000 | $35,000 |
| Minimum Interest Rate(%) | 6.95% | — |
| Maximum Interest Rate(%) | 35.99% | — |
| Maximum Repayment Term(months) | 84 months | 60 months |
| Minimum APR(%) | 6.95% | 8.99% |
| Maximum APR(%) | 35.99% | 35.97% |
| Minimum Credit Score Required(score) | 600 | 620+ |
| Typical Funding Time(business days) | 2-3 days | 1 day |
| Origination Fee Range(%) | 0% - 12% | 0% - 12% |
| Number of Repayment Term Options(options) | 2 options (36/60 mo) | 4 options (24/36/48/60 mo) |
| Prepayment Penalty | None | None |
| Minimum Credit Score(points) | 580+ | — |
| Loan Approval Time(business days) | Same day to 3 business days | — |
| Funding Timeline(Days) | 3-7 | — |
| Time to Funding(hours) | 24-72 hours | 24 hours or less |
| Maximum Personal Loan Amount(USD) | $40,000 | — |
| Personal Loan APR Range(%) | 9.80% - 35.99% | — |
| Credit Card Options(count) | 0 cards | — |
| Credit Card Products Available(count) | 0 cards | — |
| Auto Loan Offerings(binary) | No auto loans | — |
| Savings Account APY(%) | Not offered | — |
| Origination Fee(%) | 1% - 10% | — |
| Average Origination Fee(%) | 6% | — |
| Loan Origination Fee(%) | 0% - 12% | — |
| Customer Base(millions) | 3.5+ million | — |
| Number of Financial Products(Count) | 1 (personal loans only) | — |
| Late Payment Fee(USD) | $10-$15 | $0 |
| Maximum Origination Fee(%) | 6% | 12% |
| Customer Satisfaction Rating(stars) | 4.2 out of 5 | 4.4 out of 5 |
| Minimum FICO Score Required(score) | 600 | — |
| Total Assets(billion USD) | $12.8B | — |
| Customer Base Size(millions) | 3.5 million | — |
| Credit Card Products(count) | 0 | — |
| Loan Funding Speed(business days) | 1 day (same-day available) | — |
| Loan Funding Timeline(business days) | 1-3 business days | — |
| Deposit Account FDIC Insurance(USD) | Not applicable | — |
| Physical Branch Locations(count) | 0 branches (online only) | — |
Visual Comparison
Side-by-side comparison of numeric attributes
Pros & Cons
10 pros·6 cons across both
LendingClub
Pros
- Lowest starting APR at 6.95% for qualified borrowers
- Largest maximum loan amount at $40,000
- Extended repayment terms up to 84 months reduce monthly payments
- Lower origination fees (0-6%) compared to competitors
- Transparent pricing with no prepayment penalties
Cons
- Requires minimum credit score of 660, excluding fair credit borrowers
- Funding takes 1-3 business days, slower than some competitors
- Charges late payment fees of $10-$15 per incident
Upgrade
Pros
- Fastest funding available: same-day approval, 24-hour or less funding
- No late payment fees—missing a payment won't incur additional charges
- Accepts credit scores as low as 620, including fair credit applicants
- Mobile-first platform with intuitive app interface and instant notifications
- Money-back guarantee within first 48 hours if unsatisfied
Cons
- Higher origination fees up to 12% versus LendingClub's maximum 6%
- Lower maximum loan amount of $35,000 versus competitors offering $40,000
- Shorter maximum loan term of 60 months limits payment flexibility for large loans
Frequently Asked Questions
5 questions
Upgrade has a minimum credit score requirement of 620, while LendingClub requires 660+. This makes Upgrade accessible to borrowers with fair credit (580-669), whereas LendingClub caters primarily to those with good credit or higher. However, both lenders consider multiple factors beyond credit score, so approval isn't guaranteed for either based solely on meeting the minimum.
Upgrade typically funds within 24 hours or less, often same-day, while LendingClub takes 1-3 business days. For borrowers needing emergency funds, Upgrade's speed advantage is significant—potentially 48+ hours faster. This speed difference matters most when you need cash immediately for unexpected expenses.
At a $20,000 loan with mid-range APRs (15% at LendingClub vs 17% at Upgrade) over 60 months, LendingClub costs approximately $3,300 in interest versus Upgrade's $3,600, a difference of $300. However, add Upgrade's maximum 12% origination fee ($2,400) versus LendingClub's 6% ($1,200), and the total upfront cost difference is $1,200 in Upgrade's disfavor, though Upgrade charges no late fees.
Both LendingClub and Upgrade allow early repayment without prepayment penalties. This means you can pay off your loan in full before the term ends without additional charges, which can save significantly on interest if you have the means to do so. This flexibility is equally available at both lenders.
For a $35,000 loan, LendingClub is the better choice financially—you'll get access to lower APRs (6.95% minimum vs 8.99%), longer repayment terms (up to 84 months vs 60), and lower origination fees (up to 6% vs 12%), potentially saving thousands in interest. However, if you need the money within 24 hours and have fair credit, Upgrade becomes the practical choice despite higher costs.
Resources & Learn More
Dive deeper with these curated resources
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