Your monthly payment for your Personal Credit Line will be calculated based on the amounts drawn and terms selected. You may log into your Upgrade dashboard at the end of the month to see your payment schedule for a draw or draws taken that month. Your minimum monthly payment for each draw or group of draws taken within a single billing cycle with like rates and terms will be at least $5.00. If you owe less than $5.00 for any given draw or group of draws, then your minimum monthly payment for that draw or group of draws will be the total outstanding balance. Your total monthly payment will be reflected on your monthly statement and will reflect all prior activity (other groups of draws taken on your account), and may be higher than $5.00.
Articles in this section
- What is a Personal Credit Line?
- Is there a minimum monthly payment for my Personal Credit Line?
- How do I make my first draw?
- What is a draw?
- What rates does Upgrade offer on its Personal Credit Lines?
- Are there any fees to use the Personal Credit Line?
- How are the rates fixed on a Personal Credit Line?
- Why choose a Personal Credit Line instead of a home equity line of credit (HELOC)?
- Why use a Personal Credit Line instead of a credit card?
- How much can I borrow from a Personal Credit Line?