Upgrade Cards: Which One Should You Get?

There are multiple options, but each card has a different rewards system.

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Updated · 2 min read
Profile photo of Sara Rathner
Written by Sara Rathner
Senior Writer/Spokesperson
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Edited by Kenley Young
Managing Editor

Financial technology company Upgrade — in partnership with issuer Cross River Bank — offers a suite of products that combine features of credit cards and personal loans, including the following:

Upgrade cards can be used to make purchases in stores and online, just like you would with a credit card. But unlike with normal credit cards, unpaid balances on an Upgrade card are automatically converted to installment plans, where you make equal monthly payments with a fixed interest rate over a set period of time, much like a personal loan.

You can use the cards like personal loans in another way by borrowing against your credit line. To do this, request that funds be sent to your bank account.

Applicants with average to excellent credit (scores of 630 to 850) can be eligible for any of the Upgrade cards. Here's how to decide which one may be right for you.

Popular Upgrade cards, at a glance
Upgrade Select Visa®
Upgrade Select Visa®
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Apply now

on Upgrade's website

Rates & Fees
Upgrade Visa® Card with Cash Rewards
Upgrade Cash Rewards Visa®
NerdWallet Rating
Apply now

on Upgrade's website

Rates & Fees
Upgrade Triple Cash Rewards Visa
Upgrade Triple Cash Rewards Visa®
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Apply now

on Upgrade's website

Rates & Fees
Upgrade Life Rewards Card
Upgrade Life Rewards Card
NerdWallet Rating
Annual fee

$39.

$0.

$0.

$0.

Ongoing rewards

Earn up to 10% cash back on purchases made through Upgrade Shopping.

Earn 1.5% cash back on all purchases, plus up to 10% cash back on purchases made through Upgrade Shopping. Cash back will be applied to the next month’s balance on your card.

Earn 3% cash back on home, auto and health purchases, plus up to 10% cash back on purchases made through Upgrade Shopping. Earn 1% cash back on everything else. Cash back will be applied to the next month’s balance on your card.

Earn 3% cash back on a variety of categories, including grocery stores; gas stations; streaming and cable services; utilities and telecom services; and health services. Plus, up to 10% cash back on purchases made through Upgrade Shopping. Earn 1% cash back on everything else. Cash back will be applied to the next month’s balance on your card.

Sign-up bonus

$200 bonus after opening a Rewards Checking Plus account and making 3 debit card transactions, directly from the card itself. (You may be eligible for a bonus by opening an eligible Upgrade account.)

$200 bonus after opening a Rewards Checking Plus account and making 3 debit card transactions.

$200 bonus after opening a Rewards Checking Plus account and making 3 debit card transactions.

$200 bonus when you also open a Rewards Checking Plus account and make 3 debit card transactions.

Credit limit

$500 to $2,000.

$500 to $25,000.

$500 to $25,000.

$500 to $25,000.

APR

The ongoing APR is 21.96%-29.99%.

The ongoing APR is 14.99%-29.99%.

The ongoing APR is 14.99%-29.99%.

The ongoing APR is 14.99%-29.99%.

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Upgrade Select Visa®:

Credit Lines feature Annual Percentage Rates (APRs) of 14.99% - 29.99% and line amounts ranging from $500 - $25,000 based on creditworthiness. The lowest rates require Autopay and the majority of line amounts will be $15,000 or under. For example, a $1,000 card purchase with a 36 month term and a 19.99% APR has a monthly payment of $37.55. Optional cash transfers to your bank account and balance transfers are subject to a fee of up to 5% of each draw or transfer. Foreign transactions are subject to a fee of up to 3% per transaction. ATM withdrawal fees may apply. If incurred, these fees will increase your finance charge and APR. A late fee of up to $29 per late payment may apply. Your rate, line amount, and default term depend on maintaining a qualifying credit score, your credit usage history, requested amount, and other factors. The Upgrade Card is unique in that it allows you to obtain a series of closed-end loans which you may access through transactions such as card purchases up to your approved amount. As you repay your balance, additional credit may become available to you up to an approved amount subject to meeting our credit requirements, but your line will not replenish automatically.

Upgrade Life Rewards Card:

*By paying off your statement balance in full by the EarlyPay payment date, which is two calendar days after your statement closing date, you will avoid daily interest on any new transactions until the following EarlyPay payment date. Refer to your Personal Credit Line Agreement for EarlyPay terms and information. If the balance is not paid in full by the EarlyPay payment date, daily interest will begin to accrue after the Early Pay payment date for past and new transactions. To maintain good standing on your account, you must make at least the required monthly payment by the monthly payment due date, which is 22 calendar days after the statement closing date. You may pay down your full balance at any time to stop further interest charges.

Upgrade Cash Rewards Visa®, Upgrade Triple Cash Rewards Visa®, Upgrade Life Rewards Card:

Credit Lines feature Annual Percentage Rates (APRs) of 14.99% - 29.99% and line amounts ranging from $500 - $25,000 based on creditworthiness. The lowest rates require Autopay and the majority of line amounts will be $15,000 or under. For example, a $1,000 card purchase with a 36 month term and a 19.99% APR has a monthly payment of $37.55. Optional cash transfers to your bank account and balance transfers are subject to a fee of up to 5% of each draw or transfer. Foreign transactions are subject to a fee of up to 3% per transaction. ATM withdrawal fees may apply. If incurred, these fees will increase your finance charge and APR. A late fee of up to $29 per late payment may apply. Your rate, line amount, and default term depend on maintaining a qualifying credit score, your credit usage history, requested amount, and other factors. The Upgrade Card is unique in that it allows you to obtain a series of closed-end loans which you may access through transactions such as card purchases up to your approved amount. As you repay your balance, additional credit may become available to you up to an approved amount subject to meeting our credit requirements, but your line will not replenish automatically.

All Upgrade cards:

To qualify for the welcome bonus, you must open and fund a new Rewards Checking Plus account through Upgrade and make 3 qualifying debit card transactions from your Rewards Checking Plus account within 60 days of the date the Rewards Checking Plus account is opened. If you have previously opened a checking account through Upgrade or do not open a Rewards Checking Plus account as part of this application process, you are not eligible for this welcome bonus offer. Your Upgrade Card and Rewards Checking Plus account must be open and in good standing to receive a bonus. 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. Welcome bonus offers cannot be combined, substituted, or applied retroactively. The bonus will be applied to your Rewards Checking Plus account as a one-time payout credit within 60 days after meeting the conditions. This one-time bonus is available through this Upgrade Card offer and may not be available for other Upgrade Card offers.

What’s the same across the cards

The Upgrade cards are similar in a lot of ways. With the exception of the Upgrade Select Visa®, they offer the same ranges for credit limits and interest rates, though the terms you’ll qualify for depend on factors like credit usage history, credit score and others. All of the cards charge up to 3% foreign transaction fees when used internationally. All give you access to the Upgrade Shopping platform, where you can earn up to 10% bonus cash back on purchases from select merchants.

They also share a few limitations: You can’t use the cards at ATMs for cash advances, and you'll pay a fee of up to 5% if you transfer a balance onto any Upgrade card.

For all these cards, if you carry a balance, rewards are earned not as you spend, but as you make payments toward your balance. With the Upgrade OneCard and Upgrade Life Rewards Card, you’ll immediately earn rewards for any purchases you choose to pay off now.

What’s different

The cards’ primary differences come down to their rewards programs. The Upgrade Cash Rewards Visa® is a flat-rate cash-back card, earning 1.5% back on purchases. The Upgrade Triple Cash Rewards Visa® and the Upgrade Life Rewards Card pay 3% cash back in bonus categories and 1% on other purchases.

The Upgrade Triple Cash Rewards Visa® earns 3% back on a wide selection of home, auto and health purchases, including:

  • Hardware and home improvement stores.

  • Furniture and appliances.

  • Landscaping and cleaning services.

  • Auto parts, dealership purchases and repairs.

  • Gym memberships, gym equipment purchases directly from vendors and sporting goods stores.

  • Doctor’s visits and pharmacies.

  • Health and beauty services, including spas.

The Upgrade Life Rewards Card pays 3% cash back in these categories:

  • Gas and electric vehicle charging stations.

  • Grocery stores, supermarkets and eligible convenience stores (excluding Target and Walmart).

  • Streaming and cable services like Comcast, Netflix and AT&T.

  • Utilities and telecommunication services.

  • Health services, including gyms, spas, pharmacies, doctor visits and sporting goods stores.

With both of these cards, purchases outside the bonus categories earn 1% cash back.

How is the Upgrade OneCard different from the other Upgrade cards?

The Upgrade OneCard functions as a credit card and personal loan in one, just like other Upgrade cards. But it adds in the debit card-like ability to pay off a purchase in full immediately if you have sufficient funds in your checking account, instead of paying it back in installments over time with interest. If you opt to pay now, the money will be withdrawn from the checking account you have linked to the card.

The OneCard’s ongoing rewards are different as well. If you qualify, you can earn:

  • 3% cash back on everyday purchases, which the issuer defines as purchases from convenience stores, drugstores, restaurants and gas stations. Utilities and payments for phone, cable, TV and streaming services also qualify for the 3% rate. (The 3% rate is capped at $500 per year, after which you'll earn 2%.)

  • 2% cash back on all other purchases.

However, you must open an Upgrade Rewards Checking Plus account to earn those rewards rates. You also must do one of the following to maintain a qualifying active account: Keep an average daily balance of at least $2,500; receive direct deposits of at least $1,000 per month; or make at least eight eligible purchases with your Rewards Checking Plus debit card each month. If you don’t, you’ll earn 1.5% cash back.

When it comes to the annual fee, credit limit and APR, the Upgrade OneCard is identical to other Upgrade cards (with the exception of the Upgrade Select Visa®).

🤓Nerdy Tip

Upgrade also offers a secured version of the OneCard — the Upgrade Secured OneCard — for applicants who are working to improve their credit. It has the same benefits and rewards structure as the standard OneCard. Your credit line is secured by the balance in an Upgrade deposit account (up to $5,000). This card is not available for direct application, but qualified applicants can apply for the card when they open an Upgrade Rewards Checking Plus account.

How to decide

Which Upgrade card to choose comes down to how you want to earn and redeem rewards. The Upgrade Cash Rewards Visa® wins for its simplicity thanks to the flat cash-back rate. If you don’t have a major home, auto or health purchase coming up, or you just don’t want to have to pay attention to spending categories, this card could be a good fit.

However, if you’re planning to finance a large home, auto or health purchase, the Upgrade Triple Cash Rewards Visa® will earn more cash back, making it a contender, as long as you don't mind keeping tabs on bonus spending categories.

The Upgrade OneCard and Upgrade Life Rewards Card are possibilities if you want the option to pay for some purchases immediately without incurring interest. They also feature robust rewards, but as with the Upgrade Triple Cash Rewards Visa®, you'll have to be OK with tracking bonus categories. Plus, unlike other Upgrade cards, OneCard and Life Rewards come with some additional requirements to optimize their rewards.

If you're able to qualify for any of those Upgrade cards, there's little reason for you to choose the $39-annual-fee Upgrade Select Visa®, which again doesn't earn rewards.


OneCard image courtesy of Upgrade

No Annual Fee, Rich Intro Offer!

Chase Freedom Unlimited®

Cash back

Dining

Chase Freedom Unlimited Credit Card
NerdWallet Rating
5.0

Get valuable rewards, flexible redemption options, a lengthy introductory APR period and a sign-up bonus that’s worth more than most cash-back cards offer — all for an annual fee of $0.

Read Full Review

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