If you’re looking for a different kind of credit card, one that comes with a very high credit line, interest rates as low as the single digits, and $0 annual fee, an Upgrade Cash Rewards Visa® may be for you. It also offers a fixed interest rate, 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 over your credit card activity 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 no 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 $50,000, though they do caution most consumers will get no more than $25,000. Still, that’s much higher than the maximum credit limits offered by most other credit cards.

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 required. Most credit cards that offer the kind of benefits and fee structures as this 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 own 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 at 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% - 29.99%

Cash advance APR: N/A

Cash advance fee: N/A

0% Introductory APR: N/A

Balance transfer fee: Up to 5%

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 enable 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®. There is a balance transfer fee of Up to 5%.

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 a low-cost and predictability of a personal loan.
  • High Credit Limit — As high as $25,000, and even up to $50,000 for very well-qualified borrowers.
  • Low Interest Rate — Low interest rate range of 14.99% - 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, then paying off third-party credit cards. There’s no direct balance transfer capability.

Alternatives to the Upgrade Cash Rewards Visa®

The Upgrade Cash Rewards Visa® is unique among credit cards in that it’s a hybrid between a personal loan and a credit card. Depending on your personal preferences, you may find your needs better served by any of the following:

If you prefer a full-on personal loan, Lending Club may be a better choice. You can borrow up to $40,000 with payment terms ranging between 36 and 60 months and use the funds to pay for a single large expense or series of expenses. However, be aware that Lending Club does charge an origination fee of between 1% and 6% of your loan amount.

If you’re looking for a credit card with a very generous sign-up bonus, you’ll want to consider the Chase Sapphire Preferred® Card.

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate Rewards®.

If you’d like a credit card with very generous rewards, take a look at the Blue Cash Preferred® Card from American Express. You can earn

6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases.

Read More: No Limit/High Limit Prepaid Debit Cards

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

The Upgrade Cash Rewards Visa® is clearly 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 $25,000, or even $50,000 under special circumstances. That’s much higher than what’s offered by most other credit card issuers.

The APR is also attractive at N/A. With most credit cards currently charging double-digit interest rates even for those with excellent credit, this is a serious advantage.

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 Upgrade Cash Rewards Visa® has no annua 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.