Upswing Personal Loan
Benefits at a Glance
Rate Reducer
If you make your payments on time, you should be able to pay lower interest. Simple, right?
With Upswing, every three months of on-time payments get you 6% off the APR of your next personal loan.
How much does each on-time payment reduce my future APR?
2% each monthly payment
1% each biweekly/bimonthly payment
(Must accrue 6% or more to take effect on next loan)
What's the lowest APR I can get?
89%
How do missed payments work?
- You will lose all rate reduction earned during the current loan if a payment is more than 10 days late.
- If you make your missed payment within 10 days of the due date, you will not earn any rate reduction, but you will not lose any progress made previously.
- You can start earning rate reduction again for on-time payments once you've made all late payments.
- Rate reduction earned on previous loans will never be lost.
Delay-a-Pay
Life happens, and your finances aren't always predictable.
That's why six months of on-time payments get you the ability to defer a scheduled payment to the end of your loan at no extra cost.
How many on-time payments do I need to get Delay-a-Pay?
Six consecutive monthly payments
12 consecutive biweekly/bimonthly payments
How many Delay-a-Pays can I have at a time?
Unlimited
How do missed payments work?
- You will lose progress earned toward a Delay-a-Pay if a payment is more than 10 days late.
- If you make your missed payment within 10 days of the due date, you will not earn progress for that payment, but you will not lose progress made previously.
- You can start earning progress towards Delay-a-Pay again once you've made all late payments.
- Earned Delay-a-Pays will never be lost, and they can be used on payments that are less than 10 days late.
Frequently Asked Questions
How does Rate Reducer work?
You earn reduced rates as you make on-time payments. These reduced rates take effect on your next Upswing personal loan. The actual reduction will be determined by the number of on-time payments you make over the course of your current loan: Each biweekly payment is worth 1% off your next personal loan's APR, and each monthly payment is worth 2%.
Example: You take out an 18-month loan and make each of your monthly payments on time. If you are approved for another Upswing personal loan, the APR on your new loan will be 36% lower than the interest rate on your first loan.
When will I be eligible for Rate Reducer?
You will start to earn reduced rates from the start of your loan. In order to apply your reduced rate to your next personal loan, you will need to pay your current loan in full and have accrued at least six percentage points of rate reduction.
Can I lose Rate Reducer points?
If you miss a payment, you will not earn any rate reduction for that payment period. If you make that payment within 10 days after the scheduled due date, you will not lose any already accrued rate reductions. If your payment is more than 10 days late, however, you will lose all rate reduction already accumulated on the current loan.
You will lose all accumulated rate reduction across all loans if you do not have an active loan for two years or more, or after one year of carrying a past-due balance.
Is there a maximum rate reduction?
Yes. The APR of an Upswing personal loan cannot fall below 89% due to Rate Reducer.
How does Delay-a-Pay work
You earn Delay-a-Pays as you make on-time payments. You can use a Delay-a-Pay to defer a payment to the end of your loan at no additional cost.
When will I be eligible for Delay-a-Pay?
You accrue one Delay-a-Pay for each six consecutive monthly or 12 consecutive bi-weekly on-time payments. You can use a Delay-a-Pay as soon as you accrue it, and you can accrue an unlimited number of Delay-a-Pays.
Can I lose progress towards a Delay-a-Pay or lose already earned Delay-a-Pays?
If you miss a payment, you will not earn any progress towards your next Delay-a-Pay for that payment period. If you make that payment within 10 days after the scheduled due date, you will not lose any already accrued progress towards your next Delay-a-Pay. If your payment is more than 10 days late, however, you will lose all accrued progress towards your next Delay-a-Pay.
You will lose all accumulated Delay-a-Pays and progress towards future Delay-a-Pays if you do not have an active loan for two years or more, or after one year of carrying a past-due balance.
How can I qualify for larger loan sizes?
Whether you qualify for a larger loan amount depends on your payment history, including whether you made successful, timely payments on previous loans.
How much will I be able to borrow on my next loan?
Approval and maximum loan amount are based on your application information and payment history.
Can I pay off an Upswing personal loan early without penalty?
Yes, and no prepayment penalties or charges will be assessed. However, you must earn a minimum of six percentage points with Rate Reducer before any reduced interest rates will be applied toward a future CashNetUSA personal loan.
What is the interest rate?
Please visit our Rates & Terms page to see rules specific to your state.