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 is 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.