Upgrade, an unsecured consumer lender and ABS issuer, is branching out with a hybrid product that sits between an instalment loan and a traditional credit card. An Upgrade ABS would not be surprising, said capital markets investors.
The new card, labeled the Upgrade Card, is similar to a typical credit card, but can be paid back like an instalment loan over 12 to 60 months, according to a company announcement last week. The borrower can choose over what time period they would like to pay
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