Upgrade Cash Rewards Visa® Credit Card Review

Upgrade Cash Rewards Visa® — all information about the credit card.

By Hanna Volkava
Updated May 15, 2023

Good Choose for Good credit score

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Upgrade Cash Rewards Visa®
Apply now
On Upgrade‘s website
Our Rating:
4.35 out of 5
Recommended credit score
Fair to Excellent (580-799)
  • Rewards Rate:
    • 1.5% Cash Back on payments.
  • Intro Offer:
    • $200 Bonus when you open a Rewards Checking account and make 3 debit card transactions. *
  • Annual Fee:
  • Purchase Intro APR:
  • Regular APR:
    14.99% - 29.99% Regular
  • Balance Transfer APR:
    14.99% - 29.99% Regular
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Upgrade Cash Rewards Visa® Rewards Calculator

How do you record your expenses?
Enter your monthly spendings on:
All purchases
Have you already recieved the None intro bonus?
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All benefits

  • Cash back
    • 1.5% On payments.

Rate and fee information

  • Purchase Intro APR
    • None
  • Purchase APR
    • 14.99% - 29.99% Regular
  • Intro Balance Transfer APR
    • None
  • Balance Transfers APR
    • 14.99% - 29.99% Regular
  • APR for Cash Advances
    • None


  • Annual Fee
    • $0
  • Fees for Balance Transfer
    • Up to 5%
  • Return Payment
    • $0
  • Late Payment
    • $0
View all Rates & Fees

Pros & Cons

  • No Annual fee
  • No extra fees
  • No Intro APR reriod


  • Low interest
  • No Annual Fee
  • Cashback
  • Rewards
  • Fair Credit
  • Good Credit
  • Excellent Credit

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    Annual Fee
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Upgrade Cash Rewards Visa® Review

In this article, we’ll review the Upgrade Cash Rewards Visa®, a unique type of credit card.

The Upgrade Cash Rewards Visa® credit card is a strong offering for credit card users looking for a flexible, no-fee, cash rewards option. With this card, you earn 1.5% unlimited cash back on payments with no annual, activation, or maintenance fees. The Card offers a $200 bonus after opening a Rewards Checking account and making 3 debit card transactions *. The difference of this card over many others is that it’s not a traditional revolving credit account and is instead based on a personal line of credit. What this means for the consumer is that the card’s balance is not compounded daily, but is instead separated into equal monthly payment installments like a loan. For someone looking to build responsible credit management, this can be ideal but may be a problem for those who need more flexibility in their payments.

Upgrade Cash Rewards Visa®: pros and cons

Pros: Cons:
Earn Cash Back. There is the potential to earn 1.5% cash back on payments made to the card balance. Possibility of High APR. There’s a 14.99% - 29.99% APR. The lower your credit score, the higher the APR, so don’t overlook the rate terms.
No annual or application fees. Fees are a problem with many credit cards, sometimes becoming excessive. You won’t find that here. Not ATM Compatible. The card can’t be used at an ATM to withdraw cash.
Fixed Monthly Payments. For large purchases, or carrying a balance, the 24, 36, or 60 month payment terms make this one versatile credit card. Can’t save up the reward. The cash back reward is applied to the monthly balance before billing. So no saving for something special that way.
Can qualify with average credit. Even without stellar credit, this card is attainable and provides a wealth of benefits. The credit score needed is 600 or higher.

Rewards system in a nutshell

The Upgrade Cash Rewards Visa® earns unlimited 1.5% cash back rewards on all purchases after they're repaid, and earnings are applied to the next month’s balance on the card prior to the start of the billing cycle.

The rewards apply only to purchases made with the card. Cash back rewards applied to the balance will not satisfy or reduce the regular monthly payments. Additionally, the card offers 10% cash back at selected merchants through Dosh.

As stated above, rewards earned with the Upgrade Cash Rewards Card are automatically applied toward the next month's balance. The downside to this is that users aren’t able to save their cash back for a potential future or large purchase as with other cash reward cards.

Who can benefit from getting the Upgrade Cash Rewards Visa®?

The Upgrade Cash Rewards Visa® is a different type of credit card, and is ideal for people with lower credit scores, hoping to avoid an annual fee, and wish to finance a large purchase over time. The dual nature of this card makes it special in that it has almost all of the benefits of a regular credit card coupled with the low interest and affordability of a personal loan.

It’s unique on the market as a card to make credit purchases and then convert them to installment loans with a fixed payment. Normally, the daily compound interest is almost crushing to repay if the balance isn't paid in full every month. But to avoid that, and especially for large purchases that must be spread over several months, it can be repaid in equal monthly installments over a set period.

The card is available for a credit score of 600 or higher. This allows customers with average credit to still get pre-approval and ultimately a competitive card that provides the perks of cash-back rewards, no out of pocket fees to start, and the flexibility to control the payments in a more affordable way.

Are there any other benefits?

There are perks with the Upgrade Cash Rewards Visa® that are equal to other cards. Some of them are:

  • Contactless payments included with each card. Take advantage of tap to pay features for ease of payment.
  • $200 welcome bonus. Receive a bonus when you open and fund a new Rewards Checking account and make 3 debit card transactions within 60 days of your Upgrade Card account opening.
  • 10% extra cash back. When enrolled in Upgrade Shopping powered by Dosh® you can receive additional cash back from participating merchants.
  • Mobile app for access to credit account at any time. You never know when the need for a balance check or credit information review will arise.
  • $0 Fraud liability. If the card is stolen or compromised, the owner won’t be held responsible for unauthorized charges.
  • Variety of credit limits available. The Upgrade Cash Rewards Visa® credit limit is $500 to $25,000, although some may qualify for up to $50,000.
  • Reports to all three major credit bureaus. The card reports information to Equifax, Experian, and TransUnion to help build and maintain credit history.


With the flexibility of being both a credit card and a personal loan, this card is perfect for those who aren’t all-or-nothing in their spending habits, and who sometimes need the flexibility to finance large purchases.

The average credit score requirement and lack of fees or other penalties is a game-changer and easily makes it an ideal choice for cardholders interested in home improvement, needing help with healthcare payments, etc. Budgeting large payments over 24, 36, or 60 months (whichever term is approved) gives the benefit of fixed monthly payments to help stay within the credit limit and budget.

All that said, if you need a personal loan, and there isn't a need for the credit card portion, other loan options may offer better terms. Your credit score is still the deciding factor when it comes to what interest rate you’re approved for, and that may be either very reasonable or quite high depending on the approval. Also, depending on the type of transaction, and the period in which the purchase is made there could be different APRs being calculated.


The card is missing a few benefits that come with more traditional cards. For example, there're no rotating categories that give additional cash back (options for a 10% rate at selected merchants are limited at the moment) or you’re not able to save the rewards for a particular purchase. With really good credit, another more versatile credit card offering some of these options may be a better choice – especially if you don't need the personal loan component.

The bottom line on this is: if you need to carry a balance or are considering a significant purchase and want to spread out the debt, this is a strong choice that also provides some great credit card perks. But, if you have good credit and aren't looking at carrying a balance, then it probably isn’t the best choice for you.


What is the customer service phone number for Upgrade Cash Rewards Visa® Credit Card?

To speak with an Upgrade representative, call their toll-free line at (844) 319-3909 Monday-Friday, 5am-7pm, Saturday and Sunday 6am-5pm Pacific Time.

How to check my application status for Upgrade Case Rewards Visa® Credit Card?

You can contact Upgrade by emailing them at support@upgrade.com.

Is Upgrade Cash Rewards Visa® a good credit card?

Yes, this credit card offers some excellent benefits to consumers who have average credit or are looking to finance a large purchase easily.

Does Upgrade Cash Rewards Visa® credit card help build credit?

Yes, though in a bit different way than a typical credit card. With Upgrade Cash Rewards Visa® your total line of credit will not be reported to the credit bureaus, however, your balance and monthly payments will be. That means your credit utilization will not change with the Upgrade Cash Rewards Visa®, but the balance and timely payments will still affect your credit score.

Is Upgrade Cash Rewards Visa® credit card legit?

Yes, completely legit. Because of the credit card/line of credit hybrid nature of this card, it’s sometimes misunderstood, but it’s a strong card backed by a 5+-year-old company.

Where can I use my Upgrade Cash Rewards Visa® credit card?

This card works wherever any credit or debit card may be used. It also has tap-to-pay included and can be paired with both Apple Pay and Google Pay for ease of use on mobile devices. However, you can’t use Upgrade Cash Rewards Visa® at ATMs.

*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.

*State Exclusions: Not available in DC, IA, WV, WI.

Hanna VolkavaHanna Volkava

Financial and product expert

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