Payday loan, title loan, or personal loan -- Charged fees or interest you didn't expect -- Complaint #4342611
Complaint Overview
Complaint ID: 4342611
Company: Upgrade, INC.
Product: Payday loan, title loan, or personal loan
Sub-Product: Personal line of credit
Issue: Charged fees or interest you didn't expect
State: California
ZIP Code: 93003
Date Received: 2021-05-01T12:00:00-05:00
Date Sent to Company: 2021-07-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I have a personal loan with Upgrade and can manage that but they have another product called Upgrade Card, which is a line of credit and not a credit card. The payment changes monthly and only increases so is like XXXX and has become egregious and unmanageable with interest at 25.99 %. I called to see if there is a more manageable payment but they could not help me, so I will be paying a payment of {$220.00} for 37 months ( the monthly payment changes daily as I looked earlier this week and payment for XX/XX/XXXX was {$210.00}. This is a very dangerous " card '' as the payments are variable - I was not aware at the time of applying how bad this card is. I have been helping my son and family during COVID-19 and took loans to do this, along with doing all I can. I've asked Upgrade for a lower interest rate and reasonable monthly payment and was told they don't do this. And their COVID-19 " help '' is of no real help and I don't want this. I believe the Upgrade Card is a bad vehicle with very high interest rates. I'm not eligible for any loans at this point and I have cut up the card will pay the debt down with Upgrade. They are like many other on-line loan service companies ( like XXXX, etc. ) but they do not care if one makes payments on-time.
Frequently Asked Questions
What is Complaint #4342611 about?
Complaint #4342611 was filed against Upgrade, INC. regarding Payday loan, title loan, or personal loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2021-05-01T12:00:00-05:00.
How did Upgrade, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, or personal loan) and describe your issue in detail.
Can I see other complaints against Upgrade, INC.?
Yes, visit the Upgrade, INC. company profile at readthecomplaint.com/company/upgrade-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.