Upgrade Cash Rewards Visa®
- Annual fee
- None
- Recommended credit
- Excellent / Good / Fair
- Card network
- Visa
- Regular purchase APR
- 14.99%-29.99% variable based on creditworthiness and the Prime Rate
At a glance
The Upgrade Cash Rewards Visa® offers no fees, low rates, cash back, and credit lines from $500 to $25,000 in one unique package. The card provides consumers the flexibility and predictability to quickly pay down balances and get debt-free. The Upgrade credit card is one of the lowest regular APR credit cards on the market for those with excellent credit scores, putting it firmly on any list of the best balance transfer credit card deals – or any list of the best credit cards in the U.S.
Our review of the Upgrade Cash Rewards Visa®
In-Depth Review: Upgrade Cash Rewards Visa®
The Upgrade Card offers a unique take on what a credit card can be. Issued by Cross River Bank, this card blurs the lines between a personal credit card and a personal loan. It provides cardholders with the predictability and low rate of a personal loan and the flexibility of a credit card – all in one package.
Who Can Benefit from the Upgrade Cash Rewards Visa®?
The hybrid nature of the Upgrade Card makes it an excellent option for those who struggle with making payments with their regular credit cards. The installment plan structure makes it ideal for those who need help paying down their debts, especially for those who prefer to carry a balance on their cards.
While the Upgrade Card doesn’t allow balance transfers, the ability to transfer some or all of the available credit line to an existing bank account makes it perfect for immediately eliminating an individual’s card balances. This can boost their credit score and reduce their monthly outlay, as well as provide free access to credit monitoring tools.
How Upgrade Works
The Upgrade Card works in two ways. Cardholders can use their line of credit to make purchases anywhere Visa is accepted worldwide. They can also choose to have some of the funds from their credit line transferred to their bank account to help tackle existing debt, making it a useful alternative for a balance transfer credit card.
After each statement period ends, Upgrade lumps all bank transfers and purchases into one balance, which the account holder then pays down based on their installment terms ranging from 12 to 60 months. Cardholders can continue making purchases or transferring funds to existing bank accounts up to their credit limit during subsequent statement periods.
Pay Off Balances Faster
The Upgrade Card offers an excellent APR compared to other low APR credit cards, making paying off existing debts easier. Those with excellent credit scores can expect an APR almost eight percentage-points lower than the best credit cards, accelerating debt repayments and reducing the amount of interest paid. According to research from Upgrade, paying off a $10,000 balance takes just a few years with the Upgrade Visa, compared to traditional credit cards that can take up to 20 years or more.
How to Earn Cash Back
The Upgrade Cash Rewards Visa® allows card members to earn unlimited 1.5% cash back on all purchases (except non-purchase transactions) made. Cardholders will only receive their cash back after paying off their purchases via their billing statement, encouraging responsible debt payment habits.
Other Card Benefits
Upgrade cards feature EMV chip technology for added security, $0 annual fee, and $0 activation fees. Cardholders can enjoy Visa Signature benefits such as zero fraud liability, emergency card replacement, extended warranty coverage, and more.
Comparison with TD Clear Card
The Upgrade Cash Rewards Visa® stands out with its generous credit limits and cash back rewards compared to the TD Clear Card, offering 1.5% unlimited cash back on every purchase.
Why Consider Upgrade?
Unlike traditional credit cards with introductory 0% APR offers, the Upgrade Card offers a lower rate and installment plans based on creditworthiness. It provides an easy-to-use credit line with flexible installment plans, making it a unique option for those looking to pay off debt faster.
Frequently Asked Questions
- Is the Upgrade Card a Credit Card? Yes, it acts as a regular Visa credit card with installment loan features.
- Does Upgrade Report to Major Credit Bureaus? Yes, it reports to Equifax, Experian, and TransUnion.
- Where is Upgrade Available? Upgrade Card is available in all 50 U.S. states and DC.
Consider the Upgrade Cash Rewards Visa® for a unique approach to credit card and personal loan features, helping you pay off debt faster and earn cash back rewards.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- $200 bonus after opening a Rewards Checking Plus account and making 3 debit card transactions*
- Earn 1.5% unlimited cash back on card purchases every time you make a payment
- Combine the flexibility of a credit card with the predictability of a personal loan
- No annual fee
- No touch payments with contactless technology built in
- See if you qualify in minutes without hurting your credit score
- Great for large purchases with predictable payments you can budget for
- Mobile app to access your account anytime, anywhere
- Relax knowing you’re protected against unauthorized transactions with Visa’s Zero Liability Policy
- *To qualify for the welcome bonus, you must open and fund a new Rewards Checking account and make 3 qualifying debit card transactions from your Rewards Checking account within 60 days of the date the Upgrade Card account is opened. To qualify, debit card transactions must have settled and exclude ATM transactions. Please refer to the applicable Upgrade Visa® Debit Card Agreement and Disclosures for more information. Your Upgrade Card and Rewards Checking account must be open and in good standing to receive a bonus. If you have previously opened a Rewards Checking account or do not open one as part of this application process, you are not eligible for this welcome bonus offer. Welcome bonus offers cannot be combined, substituted, or applied retroactively. The bonus will be applied to your Rewards Checking account as a one-time payout credit within 60 days after the 3rd qualifying card purchase.
Who this card may suit
- You struggle to pay off your credit card balances
- You want a structured repayment plan
- You can reliably pay off your statement balances to earn cash back for your purchases
- You have a desire to get debt-free quickly
- You hate penalty or other hidden fees
Rates, fees and terms
| Annual Fee | None |
|---|---|
| Regular Purchase APR | 14.99%-29.99% variable based on creditworthiness and the Prime Rate |
| Balance Transfer APR | 14.99% to 29.99% |
| Balance Transfer Transaction Fee | Up to 5% |
| Foreign Transaction Fee | Up to 3% |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Excellent Credit Good Credit Fair Credit.
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Upgrade Cash Rewards Visa®
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