The Upgrade Triple Cash Rewards Visa® is a versatile credit card that offers significant benefits for various spending categories. Cardholders can earn 3% cash back on purchases related to home, auto, and health, making it an excellent choice for those who frequently spend in these areas. Additionally, the card provides a unique feature where any carried balance or loan taken against the credit limit is converted into a fixed-rate loan with equal monthly payments. This can simplify budgeting and help manage debt more effectively.
Key Features
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Unlimited Cash Back on Payments. Earn 3% cash back on purchases in the Home, Auto, and Health categories. This allows cardholders to maximize rewards on everyday essential expenses. Receive 1% cash back on all other purchases. This ensures that every transaction contributes to your cashback earnings.
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No Annual Fee. The card does not charge an annual fee, making it a cost-effective option for anyone looking to earn rewards without the burden of extra costs.
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Flexibility of a Credit Card with Predictability of a Personal Loan. The card combines the convenience of a credit card with the predictability of a personal loan. Any carried balance or loan against the credit limit becomes a fixed-rate loan with equal monthly payments, helping cardholders manage their debt with clear and consistent payment terms.
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No Touch Payments with Contactless Technology. Equipped with contactless technology, the card allows for no-touch payments, providing a fast, secure, and convenient way to make purchases without physical contact.
Pros and Cons
Pros
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Qualify with Average Credit. Unlike many other rewards cards that require excellent credit, the Upgrade Triple Cash Rewards Visa® is accessible to those with average credit, making it a viable option for a broader range of consumers.
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No Prepayment Penalty, Late Fees, or Penalty APR. The card does not impose prepayment penalties, late fees, or penalty APRs, offering a more forgiving and user-friendly approach to managing payments and balances.
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No Annual Fee. With no annual fee, cardholders can enjoy the benefits and rewards of the card without incurring additional costs.
Cons
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Potentially High APR. While the card offers many benefits, it also comes with the potential for a high APR, which could be costly for those who carry a balance.
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Limited Availability. The card may not be available to all consumers, which could limit its accessibility to those who would benefit from its features. Residents of Iowa, West Virginia, Wisconsin, and Washington, D.C. won’t be able to apply for the card.
How to Apply for an Upgrade Triple Cash Rewards Visa®
Online
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Go to the Website. Visit the Upgrade website.
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Click Upgrade Cards. Select the "Upgrade Cards" option and choose Upgrade Triple Cash Rewards Visa®.
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Get Started. Click on the "Get Started" button.
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Enter Personal Information. Provide your name, home address, city, state, zip code, and date of birth.
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Continue. Click the "Continue" button.
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Complete Application. Fill out the rest of the application with the required information.
Branch Application
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Visit the Nearest Upgrade Branch. Locate your nearest Upgrade branch using the branch locator tool on the Upgrade website or app. Ensure you visit during the branch's business hours.
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Speak with a Representative. Upon arrival, speak with a customer service representative. Inform them that you are interested in applying for the card and they will guide you through the process.
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Provide Required Documentation. Be prepared to provide necessary documentation, including a valid ID, proof of income, and other financial information. The representative will inform you of all the required documents.
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Complete the Application Form. Fill out the application form provided by the representative. Ensure all information is accurate and complete to avoid any delays in processing your application.
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Submit the Application. Once the form is completed and all required documents are provided, submit your application to the representative. They will review it and process your application. You will be informed of the decision within a specified time frame, either immediately or through follow-up communication.
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Eligibility Requirements
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Age. Be at least 18 years of age.
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Citizenship. Be a U.S. citizen, permanent resident, or live in the U.S. with a valid Visa®.
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Bank Account. Have a verifiable bank account.
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Email Address. Possess a valid email address.
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Credit Score. Have a fair credit score of at least 580.
Reasons You May Be Denied a Credit Card
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Poor Credit History. A low credit score or a history of late payments, defaults, or bankruptcies can result in a denial.
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High Debt-to-Income Ratio. If your existing debts are too high compared to your income, lenders may see you as a risk.
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Insufficient Income. If your income doesn’t meet the card issuer’s minimum requirements, you may be denied.
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Too Many Recent Credit Inquiries. Multiple recent applications for credit can be a red flag for lenders, indicating potential financial instability.
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Incomplete or Inaccurate Application. Providing incorrect information or leaving out required details can lead to your application being rejected.
How to Pay Off Credit Card Debt
You can pay your Upgrade Triple Cash Rewards Visa® card balances off in equal monthly installments of 24, 36, or 60 months. This structured repayment plan helps you manage your debt more effectively by providing consistent, predictable payments over a fixed period.
Editorial Opinion
The Upgrade Triple Cash Rewards Visa® offers a compelling mix of benefits and flexibility, making it an attractive option for a wide range of consumers. With its 3% cash back on essential categories such as home, auto, and health, alongside 1% on other purchases, it provides a solid rewards structure. The absence of an annual fee and the ability to qualify with average credit add to its appeal. However, potential users should consider the potentially high APR and the card's limited availability. Overall, this card balances robust rewards with practical features, but it's essential to weigh these against the potential costs and restrictions.
Additional Resources
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Required documents
APR
Credit Limit
Credit Score
Age
