With an Upgrade Card with a personal credit line, you don't have to use your home as collateral or spend a lot of time going through the lengthy home application, appraisal and approval processes. Plus, there are no fees.
With a home equity loan or HELOC, you can use the value of your home as collateral to get a lower rate, but that means you have to first go through the process of getting an updated home appraisal and complete more documentation to know how much you qualify for. Additionally, using the equity in your home can work against you if your property value declines. HELOC rates may be adjustable, which means your HELOC payments may increase on existing balances. In contrast, your Upgrade Card with a personal credit line comes with a fixed rate and fixed monthly payments for each draw.
Learn more about the Upgrade Card through Upgrade.