Upgrade Triple Cash Rewards Visa® Credit Card Review
In this article we will share some helpful information about the Upgrade Triple Cash Rewards Visa® Card.
The Upgrade Triple Cash Rewards Visa® Card offers its holders 3% cash back on purchases from the following categories: Home, Auto, and Health. In addition, it offers 1% cash back on any other purchases you make. Earn a $200 bonus after opening a Rewards Checking Plus account and making 3 debit card transactions*. As the card has no annual fee (in fact, it has no fees whatsoever), and its APR ranges from 14.99% - 29.99%, you can enjoy shopping rather than calculating the fees you should pay. The only thing you should keep in mind is that it’s always better to make timely payments.
Upgrade Triple Cash Rewards Visa® Credit Card: pros and cons
|Every Purchase Earns You Cash Back. No limitations: you will get at least 1% cash back on every purchase.
||You Can’t Withdraw Cash. While your Upgrade Triple Cash Rewards Visa® Card is ideal for purchases, you can’t use it at an ATM to get cash.
|Increased Cash Back for Three Categories. You will receive 3% cash back for each purchase from the Home, Auto, or Health categories.
||Cash Back Doesn’t Satisfy Your Monthly Payments. Unfortunately, you can’t use cash back to reduce or entirely cover your monthly loan payments.
|Forget About Fees. Most credit cards have annual fees, late fees, and returned payment fees. The Upgrade Triple Cash Rewards Visa® Card charges no fees whatsoever.
|No Limits Abroad. You can pay with your Upgrade card outside the United States without any fees.
Rewards system in a nutshell
Upgrade Triple Cash Rewards Visa® Card offers 1% cash back on any purchase you make. As for the increased 3% cash back, it's earned when you pay back the purchases from the following categories:
- Home: hardware, furniture, plumbing equipment, kitchenware, etc.
- Auto: spare car parts, car washes, car sharing, gas, tires, etc.
- Health: spas, gyms, training hardware, etc.
You earn cash back when you pay back the purchases you made before. Your cash back will be credited to your balance once you make your next credit card payment.
Cash back rewards will be credited to your next month’s balance as a prepayment. Unfortunately, there is no way to save and accumulate your rewards, as well as to redeem it as a statement credit for the current month or convert it to reward points (like with the Chase Freedom Flex℠ credit card). Payments other than purchases, such as transferring money to your bank account, are non-rewarding. Other restrictions also apply; read more about them in your Cardholder Agreement.
The Upgrade Triple Cash Rewards Visa® Credit Card is a perfect hybrid of a traditional credit card and a personal loan, allowing cardholders to earn cash back for each purchase.
There are two ways one can benefit from the Upgrade Triple Cash Rewards Visa® Card:
- Use it as a credit card. Upgrade cards are accepted worldwide. It’s highly recommended to pay the credit card bill in full, but if you don’t, the remaining balance will turn into a fixed-rate loan that can be paid back in scheduled monthly installments.
- Use it as a personal loan. Upon request, funds from the credit card can be transferred to your bank account. The only limitation here is your credit limit. Once the bank approves your request, you will be able to pay back the loan at the fixed interest rate for an agreed-upon time period.
Who can benefit from getting the Upgrade Triple Cash Rewards Visa® Credit Card?
Considering the categories that qualify for the increased cash back, the card will ideally suit families with at least fair credit whose top expenses include home and car maintenance and health-related spending. Even if you don't pay your card balance in full, you’ll be required to pay predictable monthly payments rather than the interest payments of a regular credit card that can go out of control quickly. Upgrade Triple Cash Rewards Visa® Card does not require a security deposit, which can also be attractive to people with fair credit. This card can also be helpful if you are not qualified for cards with 0% intro APR. With a higher score, however, you might get better terms for a regular personal loan or apply for a 0% intro APR card and pay it off in 12 - 18 months with no interest at all.
If your credit score or market conditions change, your pre-approved credit, as well as the interest rate, may be adjusted. These adjustments may work both ways, meaning that you will either get more beneficial conditions or end up with an increased APR. However, the new rules will only apply for future transactions, while the terms for your current balance will remain unchanged. More importantly, you will always have a choice whether or not to accept the new terms for your line and future transactions.
Upgrade Triple Cash Rewards Visa® Card is a good combination of a regular credit card and a personal loan product. If you don’t pay your card balance in full, it will be converted to a personal loan. Your credit line's APR can range from 14.99% - 29.99%. The rate depends on your credit score, credit usage history, and requested amount.
People with fair credit can be attracted to get a card with no fees and security deposits. This can help build credit without additional expenses. Families who spend a lot in Home, Auto, or Health categories can benefit from the card by paying off the balance in full and getting a nice 3% cash back.
Some may say that being unable to withdraw cash through an ATM is a massive drawback. We can't agree with that. Most credit cards that allow you to withdraw cash from your account charge you a considerable fee for that. So it's indeed better when you are not tempted to do so.
What is the customer service phone number for the Upgrade Triple Cash Rewards Visa® Credit Card?
You can always contact the Upgrade team by calling their free line at (844)-319-3909
. The customer service team is here to help you Mon – Fri (6 am – 6 pm.) and Sat – Sun (6 am – 5 pm) PT.
How to check my application status for the Upgrade Triple Cash Rewards Visa® Credit Card?
You can check your application status either in your Upgrade Account or request an update on it by email.
Does Upgrade increase the line of credit?
Yes! Your credit line can be increased automatically when your credit score reaches the required minimum for moving to the next level. You will be notified upon the pre-approval of your new credit limit.
Does the Upgrade card do a hard pull?
Yes, Upgrade does perform a hard pull, but only when you agree to the terms. So you can see if you are preapproved for the credit card without damaging your credit.
*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.
*State Exclusions: Not available in DC, IA, WV, WI.