Frequently Asked Questions

How does Rate Reducer work?

As soon as you enroll in Upswing, the APR on your line of credit will drop to 249%. After that, you'll earn reduced interest with on-time payments: For every six months of on-time payments, you'll get 10% off your APR, to a minimum of 149%. Your reduced APR will automatically take effect starting on the first statement period that opens on or after the date you earn the reduced rate.

Example:

You join Upswing, reducing your APR to 249%. After making six on-time monthly payments, your APR will reduce to 239% when your next statement opens.

Can I lose Rate Reducer?

If you miss a minimum 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 reduction. If your payment is more than 10 days late, however, you will lose all progress towards your next rate reduction. You will never lose reduced rates that have already been applied to your line of credit.

How does Fee Saver work and when will I be eligible?

As soon as you enroll in Upswing, your draw fee will be reduced to 10% of the amount drawn (where applicable).1 After six months of on-time payments, your draw fee will be reduced to 5%. Your reduced fees will automatically take effect starting on the first statement period that opens on or after the date you earn the reduced fee. Draws fees cannot be reduced below 5%.

Example:

You join Upswing, reducing your draw fee to 10%. After making six on-time monthly payments, your draw fee will drop to 5% when your next statement opens.

Can I lose Fee Saver?

If you miss a minimum payment, you will not earn any progress towards Fee Saver for that statement period. If you make your minimum payment within 10 days after the scheduled due date, you will not lose any already accrued progress towards Fee Saver. If your payment is more than 10 days late, however, you will also lose all progress towards Fee Saver. You will never lose reduced fees that have already been applied to your line of credit.

How can I qualify for a larger line of credit?

Whether you qualify for a larger loan amount depends on your payment history, including whether you made successful, timely payments on previous loans.

Can I pay off an Upswing line of credit early without penalty?

Yes, and no prepayment penalties or charges will be assessed. However, you will only accrue progress towards the Rate Reducer and Fee Saver features by making your scheduled minimum payments. You do not accrue any progress if you are not carrying an outstanding balance.

What is the interest rate?

Please visit our Rates & Terms page to see rules specific to your state.

1Fee Saver is only available on lines of credit that charge transaction fees. Please see your line of credit agreement to determine if Fee Saver is applicable to you.

*12 biweekly/bimonthly payments or 6 monthly payments greater than or equal to the minimum payment due.