Upgrade Cash Rewards Visa®
Review of Upgrade Cash Rewards Visa®
The Upgrade Cash Rewards VISA® Card is a great way to earn rewards while you shop. With this card, you’ll earn 1% cash back on all purchases, and you can redeem your rewards for cash back, gift cards, or merchandise.
There’s no annual fee, so it’s easy to use and easy to keep track of your spending. Plus, you’ll get a 0% APR on balance transfers for the first 15 months.
Pros and Cons of the Upgrade Cash Rewards VISA®
Pros
- Earn 1.5% cash back on all purchases that are automatically applied as statement credits at the end of the month.
- No annual fees or setup fees.
- Your cashback never expires.
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The lowest possible APR is 14.99%
Cons
You can read real Upgrade Cash Rewards Visa reviews below or add your own.
Possible Low APR
If you choose a credit card with a 0% intro APR on purchases, you may be able to avoid interest completely for several months (usually up to 15 months, though some offer an intro APR for up to two years).
However, your balance will be based on the normal APR of the card after the initial intro APR period ends.
You may then be left with high interest rates if you’re having trouble managing payments and wind up underpaying your balance.
Remember that you are not automatically guaranteed a low APR. If you have a low credit score or a thin credit profile you could get an APR as high as 29.99%
If that case you should consider improving your credit score.
A Potentially High Credit Line
This Upgrade card may offer you a high credit limit, potentially matching or even surpassing some of the top credit cards on the market.
Although the credit line ranges from $500 to $25,000, you could have a line up to $50,000, depending on your creditworthiness. On the other hand, most cardholders get less than $25,000.
This could be really helpful for financing major purchases without needing to enroll in an expensive deferred payment plan.
No Hard Credit Pull
As pre-approval requires no hard credit pull, you can see your card APR and credit line before you commit to it.
This means you can determine whether you should continue with getting the card without an impact on your credit score.
How to Earn Rewards
With the Upgrade Cash Rewards VISA® Card, you’ll earn 1.5% cash back on all your purchases every month.
To earn rewards points, use your card for everyday purchases like gas and groceries. You can also earn points by shopping online or in-store at any of the thousands of participating retailers.
If you have an average credit score (FICO score of 580+) a 1.5% cash back is a great rewards rate for such a low-fee card.
Rewards cards that offer the same type of cash back usually come with higher requirements, making the Upgrade Cash Rewards VISA® Card a great option.
Rates and Fees
Based on your credit score, the card can offer anywhere from 14.99% to 29.99% — which though high compared to its competition, still serves as a relatively low number for cards of its kind.
Signing up for autopay could potentially give you access to even lower rates.
The card also stands out due to its complete lack of fees: no annual fee, no transfer charge, no cash advance payment, no late fees, or anything else you might find with a traditional credit card.
Plus, you don’t need to worry about prepayment penalties when you pay off your balance in full — affording you the chance to save money on interest.
