How does Level Up work?

Last Updated: Aug 15, 2018 10:19PM PDT

The idea behind Level Up is that we want to reward you with something tangible (read: actually useful) for being on top of your payments. We prefer the carrot rather than the stick, if you know what we mean.

Here’s what Level Up means for each of our loans*:

If you have MogoMini:
Make your payments on time and in as little as 12 months, you’ll be Levelled Up to either a higher credit limit or our MogoLiquid loan (which gives you even lower rates from 5.9% to 45.9% APR and can up your credit limit, starting at $3,500 and going up to $35,000). 

If you have MogoLiquid:
Level Up to lower rates every 12 months by making your payments on time (until you reach the Mogo equivalent of black belt status).

*Level Up Terms and Conditions: Level Up offer is based on information that indicates you could meet our underwriting requirements for the product offered and is conditional on 12-month on-time payment history and a stable credit profile determined at Mogo’s sole discretion. Your “credit profile” may include, but is not limited to, your credit score and external debt outstanding at the time of the Level Up review. Current product must be paid in full to take advantage of new Level Up offer. Alberta Residents: Level Up offers are only available if no MogoZip product is outstanding. The lowest rate eligible for MogoLiquid Level Up offer is 15.9%. Level Up offers are pre-approvals subject to Mogo's pre-approval terms and conditions. Underwriting requirements must be met to move forward with any Level Up offer which may include but is not limited to income verification and validation of MogoAccount information. Further documentation may be requested from you. Level Up offers are not guaranteed and Mogo reserves the right to make changes to the terms and conditions of the Level Up program at any time.

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