The Good
- No Hidden Fees
- Helps Improve Credit Health
- Structured, Predictable Repayment
- Free Credit Monitoring
No Hidden Fees
The Upgrade Card stands out by eliminating common charges associated with traditional credit cards. There are no annual fees, no foreign transaction fees, and no penalty for cash advances when sending money to a bank account. Importantly, even if you miss a payment, there’s no late fee — a rare perk in the credit space.
Helps Improve Credit Health
Unlike standard credit cards, the Upgrade Card reports to credit bureaus similarly to a personal loan, rather than revolving credit. This means it doesn’t negatively impact your credit utilization ratio — a key factor in your credit score — and can help improve your score over time. It’s also accessible to applicants with prior financial setbacks like bankruptcies, depending on their overall credit profile.
Structured, Predictable Repayment
The card functions more like a personal loan than a traditional credit card. Monthly spending is bundled into fixed payments with clear timelines (typically 12 to 60 months). This makes budgeting easier and helps prevent endless interest accumulation. It also encourages timely payoff and prevents long-term debt.
Free Credit Monitoring
Cardholders gain access to weekly credit score updates and personalized tips to improve credit health. The built-in monitoring includes trend tracking, alerts for potential issues, and actionable suggestions — all free for card users.
The Bad
- No Rewards or Cash Back
- Requires Some Credit History
- No Balance Transfers or ATM Access
No Rewards or Cash Back
The Upgrade Card doesn’t currently offer any points, cash back, or rewards program. While the company has plans to offer benefits for responsible usage in the future, as of now, you won't earn anything from your purchases.
Requires Some Credit History
While flexible with applicants who have had credit issues, the card is not available to individuals with no credit history. If you’re just starting to build credit, you’ll need to explore other beginner-friendly credit options.
No Balance Transfers or ATM Access
The card doesn’t support balance transfers from other accounts and cannot be used to withdraw cash at ATMs. However, users can still send funds directly to a linked bank account when needed.
| Annual Fee | $0 |
| Intro Purchase APR | N/A |
| Regular Purchase APR | 14.99% - 29.99% |
| Intro Balance Transfer APR | NA |
| Cash Advance APR | NA |
| Cash Advance Fee | NA |
| Penalty APR | NA |
| Balance Transfer APR | 14.99 - 29.99% |
| Balance Transfer Fee | Up to 5% |
| Foreign Transaction Fee | Up to 3% |
| Return Payment Fee | $0 |
| Rewards Rate | 1.5% |
| Welcome Bonus | $200* |
| Visa's Zero Liability Policy | Yes |
| Extended Warranty Program | Yes |
| Roadside Assistance | Yes |
| Price Protection | Yes |
| Travel and Emergency AssistanceServices | Yes |
| Concierge Service | No |
Welcome Bonus Disclosure: *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.