New Upgrade Bitcoin Rewards Card Earns 1.5% Back

Like other Upgrade cards, unpaid balances convert to a fixed-rate installment loan with equal monthly payments.
Sara RathnerJul 21, 2021

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Financial startup Upgrade is adding another credit card to its collection — and adding to the growing number of . The Upgrade Bitcoin Rewards Card earns an unlimited 1.5% back on all purchases in the form of bitcoin.


As you make payments on purchases, bitcoin will be purchased on your behalf and held in a wallet provided by NYDIG, a custody and trading platform. Your bitcoin can not be transferred to a separate wallet.

You can sell your bitcoin after a 90-day holding period, and you'll pay a 1.5% transaction fee. But you can only receive the proceeds in the form of a statement credit. That means bitcoin rewards can only be used toward purchases you make on the card.

There are some geographic restrictions to note: The Upgrade Bitcoin Rewards Card is not currently available in

Hawaii, Indiana, Iowa, Louisiana, Nebraska, Nevada, New Hampshire, North Carolina, Washington, West Virginia, Wisconsin and Washington, D.C.

Like its predecessors, the and , the $0-annual-fee Upgrade Bitcoin Rewards Card functions as a credit card/personal loan hybrid product. Any balance you carry is automatically converted to a fixed-rate installment plan ranging from 24 to 60 months. As of this writing, interest rates range from 8.99% to 29.99% APR, and credit lines can range from $500 to $25,000.


The card is available to eligible applicants right now, with no need to sign up for a waitlist. Other , like the and , are only accepting potential applicants via waitlist (though BlockFi began shipping its card to waitlist members in early July 2021). There are cards currently on the market, including the and , that offer crypto rewards as one of several redemption options, but that’s not their sole focus.


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