Upgrade Cash Rewards Visa®

The Upgrade Cash Rewards Visa® combines the flexibility of a credit card with the fixed rates of a personal loan. You either make purchases or transfer money into your linked bank account, and Upgrade totals up all your transactions and considers them an installment loan.

You can qualify for terms of 24, 36, or 60-month terms and you can be approved for an amount between $500 and $25,000. You pay the same fixed amount until the loan is paid off. For example, if you qualify for a $5,000 loan with a 19.99% interest rate, you will have a monthly payment of $187.90. Once you pay that, you’ll get 1.5% cash back, which will be applied to your balance.

It doesn’t act like a credit card, in that once you pay down your balance, your credit line does not replenish. It’s more like a personal line of credit. Because it’s a Visa Signature card, you do get some nice Visa Signature benefits. We dive into the details and your approval odds in this Upgrade Visa review.

Upgrade Cash Rewards Visa

Our Rating


Welcome Offer


Annual Fee


0% Intro on Purchases


Reward Rate


0% Intro on Balance Transfers


Welcome Offer

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

Editorial Review

If you’re looking for a different kind of credit card, one that comes with a high credit line and $0 annual fee, an Upgrade Cash Rewards Visa® may be for you. It offers a fixed monthly payment, and repayment term to keep you from owing on your credit card for the rest of your life. It doesn’t have all the bells and whistles that come with typical rewards-type credit cards, but it will give you more control than you’ll get with other cards.

What Upgrade Cash Rewards Visa® Has to Offer

The Upgrade Cash Rewards Visa® is a different kind of credit card because it doesn’t have the usual features and benefits found with most credit cards. For example, there are few rewards and no 0% introductory APR.

But even without the usual perks offered by most credit cards, Upgrade Cash Rewards Visa® provides benefits other credit cards don’t:

High Credit Limit. Upgrade Cash Rewards Visa® offers a high credit limit of up to $25,000, though they do caution most consumers will get no more than $15,000.

No Annual Fee. $0 annual fee.

Fixed Interest Rate and Monthly Payment. The Upgrade Cash Rewards Visa® doesn’t come with the usual variable APR arrangement typical of credit cards. Instead, you’ll make a fixed monthly payment with a fixed interest rate.

Fixed Repayment Term. Though Upgrade Cash Rewards Visa® offers a credit line, it is repaid like an installment loan. You’ll have between 24 and 60 months to repay your balance. That will keep you from having an outstanding credit card balance for many years. It also presents a real opportunity to eliminate your credit card debt without the need to take a debt consolidation loan.

Moderate Credit is required. Most credit cards that offer these kinds of benefits and fee structures require good or excellent credit. But the Upgrade Cash Rewards Visa® only requires a credit ranging anywhere from fair to excellent.

Features and Benefits of the Upgrade Cash Rewards Visa®

Customer support. Available by email only.

Credit Monitoring. By signing up for Credit Health, Upgrades credit monitoring service, you’ll access your VantageScore 3.0 at any time, as well as a credit score summary explaining the details. It also offers a credit score simulator to help you see how different scenarios and actions will impact your score going forward. Email alerts let you know what’s impacting your credit score and help identify potential fraud. You can also receive customized recommendations with tips tailored to your credit history.

Contactless card. There’s no need to swipe or insert your Upgrade Cash Rewards Visa®. It’s a contactless card you can simply move over a contactless-enabled terminal for payment.

Use with payment apps. You can use the Upgrade Cash Rewards Visa® with Apple Pay and Google Pay, so you can pay using your mobile device at participating merchants.

Upgrade Security. Upgrade protects your information using an industry-leading infrastructure service that is enabled with encryption and data protection capabilities. The infrastructure provider is SOC 1, 2, and 3 compliant. They also use extended validation and secure socket layer (SSL) certificates to maintain secure data transmission. All employees receive security awareness training at least annually.

How to Sign Up for the Upgrade Cash Rewards Visa®

You can apply for an Upgrade Cash Rewards Visa® online, by completing a single-page online application. You’ll need to read and agree to the terms of use, ESIGN Act Consent, credit profile authorization, privacy notices, and privacy policy. The company will check your credit history and verify your income.

You’ll need to provide the following information in the application:

  • Your name, address, and phone number
  • Social Security number
  • Your date of birth
  • Employment information
  • Your salary and income
  • Email address
  • The name of your bank, bank routing number, and your personal bank account number

Once your application has been approved, you’ll receive your Upgrade Cash Rewards Visa® in seven to ten business days.

Upgrade Cash Rewards Visa® Interest Rates and Fees

Annual Fee: $0

Annual Percentage Rate APR: 14.99% to 29.99%

Cash advance APR: N/A

Cash advance fee: N/A

0% Introductory APR: None

Balance transfer fee: 5% of the amount transferred

Foreign transaction fees: Up to 3%

Late payment or return payment fee: None and no penalty APR for late payments.

Minimum monthly payment: This is based on the term of your credit line repayment schedule, which can be between 24 and 60 months, with the applicable APR applied. Otherwise, the minimum monthly payment will be $5, or the actual amount you owe on your credit line if it is less than $5.


Where can I use my Upgrade Cash Rewards Visa®?

The Upgrade Cash Rewards Visa®, so it can be used anywhere Visa is accepted–which is just about everywhere. However, the limitation is that it cannot be used at ATM machines.

How can I use my Upgrade Cash Rewards Visa®?

In addition to the Visa card capability, you can also take draws against your credit line and have the funds sent directly to your bank. You can then use those funds for any purpose, much like a cash advance on a traditional credit card. But there are no fees associated with an Upgrade Cash Rewards Visa® draw against your credit line, nor will a higher interest rate apply.

How do Upgrade Cash Rewards Visa® draws and monthly repayments work?

Your monthly payment is based on the amounts drawn and the terms selected for your draws through the end of each month. The minimum monthly payment will be $5 or the full amount of the draw if it’s less. Once again, repayment terms will range between 24 and 60 months, depending on the length you have chosen for your draws. The draws will be calculated monthly but will be reflected on your monthly statements to include all prior activity. A draw is considered to have occurred any time you have funds from your credit line transferred to your bank, or you use your Visa card to pay online or at a retail location.

How do balance transfers work with the Upgrade Cash Rewards Visa®?

Unlike other cards that allow you to directly transfer existing debt to your new card, balance transfers work differently with the Upgrade Cash Rewards Visa®. You can make a draw from your account and have the funds sent directly to your bank account, then pay off another credit card balance from your bank account. The process does involve an extra step, but it will serve the same purpose. It gives you complete control of the balance transfer process. With the traditional balance transfer method, you often need to wait days or weeks before balance transfers are completed. Since you’ll be handling it yourself, it can be done in a matter of hours or even minutes with the Upgrade Cash Rewards Visa®.

What happens if my credit score changes after I’ve been approved for the Upgrade Cash Rewards Visa®?

Your APR, credit line amount, and repayment term will depend on maintaining your initial credit score. If your credit score, credit usage history, and requested line amount change after approval, your APR, credit line amount and repayment term may be adjusted, higher or lower. However, this practice is typical with credit cards. They periodically check your credit score and can adjust your credit line, APR, and monthly payment if your score changes significantly.

Pros & Cons


  • Best of Both Worlds — Combines the flexibility of a credit card with the low cost and predictability of a personal loan.
  • High Credit Limit — As high as $15,000, and even up to $25,000 for very well-qualified borrowers.
  • Low Interest Rate — Low interest rate range of 14.99% to 29.99%.
  • No Annual Fee — $0 annual fee.
  • No Penalty APRs — No penalty APR for late payments.


  • No Intro APR: No 0% introductory APR offered.
  • No ATMs — The Upgrade Cash Rewards Visa® cannot be used at ATM machines.
  • Extra Step for Balance Transfers — Balance transfers from other credit cards must be done indirectly, by moving the funds to your bank first, and then paying off third-party credit cards. There’s no direct balance transfer capability.

Should You Sign Up for the Upgrade Cash Rewards Visa®?

The Upgrade Cash Rewards Visa® is unique in the credit card universe and for that reason, it won’t be suitable for everyone. But if you’re looking for a credit card with flexible terms–one that combines some of the best elements of both credit cards and personal loans–Upgrade Cash Rewards Visa® deserves a close look.

First, it’s an excellent choice if you’re looking for a credit card with a high credit limit. If you have good or excellent credit, the credit limit can be as high as $15,000, or even $25,000 under special circumstances.

The card is also more flexible on credit. They’ll consider applicants with fair or average credit, as well as good or excellent.

The Upgrade Cash Rewards Visa® is also virtually in a class of its own. There are plenty of credit cards available that charge no annual fee, but they usually have other fees that can add up to a lot more. The has no annual fee, no late fees, or cash advance fees.

And if you’re interested in avoiding the revolving credit trap that keeps so many locked in credit card debt for life, you’ll appreciate the fixed repayment term provided by Upgrade. Each draw you take on your credit line will be subject to a specific term, ranging between 24 and 60 months. That will give you complete control over your balance, and when it will be repaid.

If you’re interested in getting more information, or you’d like to sign up for the card, check out the Upgrade Cash Rewards Visa® website.

Bottom Line

If you want a no-fee card with the potential for a high credit limit, Upgrade Cash Rewards Visa® might be the right choice for you.

Below we recap the features, fees, credit score requirements, and alternatives.

Features & Benefits

SecurityEMV Chip Enabled, Zero Liability
Contactless PaymentsTap to Pay, Apple Pay, Google Pay
Travel PerksNone


1.5% cash back
All eligible purchases
Get 1.5% cash back on purchases when you pay your bill

Interest Rates & Fees

Annual Fee$0
Foreign Transaction FeeUp to 3%
Regular APR14.99% to 29.99% (V) APR

What Credit Score Is Required to Get the Upgrade Cash Rewards Visa®

The following credit score data are based on publicly available information we have collected from various forums. We have no way to confirm the accuracy of this data. In addition, keep in mind that credit card issuers use numerous factors in their underwriting process, and these factors can change at any time.

Lowest Approved Credit Score: 675

Average Approved Credit Score: 675

App StatusDateCredit ScoreBureauCredit Limit

Pros & Cons

  • Welcome offer
  • No annual fee
  • Foreign transaction fee
  • Interest can be high depending on credit

What Are the Best Alternatives?

Citi<sup>®</sup> Double Cash Card
Citi® Double Cash Card



Rewards Range

1% to 2%

Annual Fee


Blue Cash Everyday® Card from American Express
Blue Cash Everyday® Card from American Express



Rewards Range


Annual Fee


Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card



Rewards Range


Annual Fee


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