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5 Things to Know About the Upgrade OneCard
It's a credit card, debit card and personal loan in one. Pair it with an Upgrade Rewards Checking Plus account for more perks.
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Updated · 3 min read
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NerdWallet's content is fact-checked for accuracy, timeliness and relevance. It undergoes a thorough review process involving writers and editors to ensure the information is as clear and complete as possible.
Sara Rathner is a NerdWallet travel and credit cards expert. She has appeared on the “Today” show and CNBC’s “Nightly Business Report,” and has been quoted in The New York Times, The Washington Post, The Wall Street Journal, Yahoo Finance, Time, Reuters, NBC News, Business Insider and MarketWatch. Before joining NerdWallet, Sara worked at The Motley Fool for nearly 10 years. She also worked as a freelance personal finance writer and paraplanner and has a bachelor's degree in journalism from Northwestern University.
Kenley Young directs daily credit cards coverage for NerdWallet. Previously, he was a homepage editor and digital content producer for Fox Sports, and before that a front page editor for Yahoo. He has decades of experience in digital and print media, including stints as a copy desk chief, a wire editor and a metro editor for the McClatchy newspaper chain.
The Upgrade OneCard — from financial technology company Upgrade, in partnership with issuer Cross River Bank — is one of several products within that fintech's suite of credit card/personal loan hybrid offerings. With all of Upgrade’s cards, your credit card balance is automatically converted to an installment plan where you make equal monthly payments at a fixed interest rate.
But the Upgrade OneCard takes it a step further: You can pay off a balance over time with interest, or you can opt to pay off a purchase immediately and not pay interest on that transaction.
Here are five things to know about the Upgrade OneCard.
1. It’s essentially three products in one
The Upgrade OneCard combines the immediate payment of a debit card, the rewards and fraud protection of a credit card, and the fixed monthly payments of a personal loan.
You can use the card to make purchases in stores or online, as you would with a debit or credit card. You get credit card fraud protection, which means your liability is limited if someone uses your card to make unauthorized purchases. You set preferences as to which purchases you want to pay for once the charge appears on your account, as you would with a debit card, and which purchases you want to pay back over time with interest, as you would with a personal loan.
Any purchases you choose to pay back over time will be charged a fixed interest rate for a set period of time. You can find out your assigned APR and loan term length by getting preapproved, without affecting your credit score. Currently, APRs can range from 14.99% to 29.99%. Note that if you don’t have enough money in your linked checking account to cover a purchase, you’ll be automatically enrolled into an installment plan.
Assuming you meet eligibility requirements (see No. 3 below), you can earn the following rewards with the Upgrade OneCard:
3% cash back on purchases at convenience stores and drugstores, at restaurants and bars (including food delivery) and at gas stations. You’ll also earn 3% back on recurring payments for utilities and monthly subscriptions, which includes phone, cable and streaming services.
2% cash back on all other purchases.
Cash back is earned when you pay off purchases. You can earn up to $500 in 3% cash back rewards per year, after which you’ll earn 2% back on such purchases. To reach that limit, you’d need to spend around $1,388 per month in the 3% categories.
3. … but an Upgrade checking account is required for the top rate
You can link any checking account to make payments on your Upgrade OneCard purchases, but you’ll get more out of the card if you link an active Rewards Checking or Rewards Checking Plus account with Upgrade. An active account is defined as one that receives at least $1,000 in direct deposits per month.
If you do that, you’ll earn the previously mentioned 2% to 3% on all purchases, plus you'll be eligible for a welcome bonus. As of January 2025, the bonus is $200 when you start using a new Rewards Checking Plus account and make three purchases with your Upgrade OneCard or your Rewards Checking Plus debit card within the first 60 days.
If you don’t meet the requirements for an active Rewards Checking or Rewards Checking Plus account, you’ll earn only 1.5% cash back on all purchases, and you won’t be eligible for the bonus.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
If you want a credit card that can offer a decent rewards rate with a simple and straightforward approach, consider an option like the Wells Fargo Active Cash® Card. It earns 2% cash back on all eligible purchases. It also has a sign-up offer for new cardholders: Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. You won’t get the installment option offered by the Upgrade OneCard, but as a new cardholder of this product you can qualify for its 0% intro APR on Purchases for 12 months and 0% intro APR on Balance Transfers 12 months from account opening on qualifying balance transfers, and then the ongoing APR of 19.24%, 24.24%, or 29.24% Variable APR.
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4. Redeeming rewards is affected by carrying a balance
If you’ve paid for all purchases immediately and don’t have any installment plans, you can redeem your cash-back rewards as a direct deposit into the checking account you have linked to your card. If you’re making monthly payments on an installment plan, your redeemed rewards will go toward the balance owed.
5. You may be able to spend beyond your credit line
During the application process, you’ll be granted a credit line of $500 to $25,000, though most are $25,000 and less. But if you fund your card with a Rewards Checking Plus account and keep a positive balance, you may be granted up to $5,000 more on top of your assigned credit line.
Just note that spending beyond your credit line has to be paid back immediately.
Credit Lines feature Annual Percentage Rates (APRs) of 14.99% - 29.99% and line amounts ranging from $500 - $25,000 based on creditworthiness. The lowest rates require Autopay and the majority of line amounts will be $15,000 or under. For example, a $1,000 card purchase with a 36 month term and a 19.99% APR has a monthly payment of $37.55. Optional cash transfers to your bank account and balance transfers are subject to a fee of up to 5% of each draw or transfer. Foreign transactions are subject to a fee of up to 3% per transaction. ATM withdrawal fees may apply. If incurred, these fees will increase your finance charge and APR. A late fee of up to $29 per late payment may apply. Your rate, line amount, and default term depend on maintaining a qualifying credit score, your credit usage history, requested amount, and other factors. The Upgrade Card is unique in that it allows you to obtain a series of closed-end loans which you may access through transactions such as card purchases up to your approved amount. As you repay your balance, additional credit may become available to you up to an approved amount subject to meeting our credit requirements, but your line will not replenish automatically.
Upgrade Life Rewards Card:
*By paying off your statement balance in full by the EarlyPay payment date, which is two calendar days after your statement closing date, you will avoid daily interest on any new transactions until the following EarlyPay payment date. Refer to your Personal Credit Line Agreement for EarlyPay terms and information. If the balance is not paid in full by the EarlyPay payment date, daily interest will begin to accrue after the Early Pay payment date for past and new transactions. To maintain good standing on your account, you must make at least the required monthly payment by the monthly payment due date, which is 22 calendar days after the statement closing date. You may pay down your full balance at any time to stop further interest charges.
Credit Lines feature Annual Percentage Rates (APRs) of 14.99% - 29.99% and line amounts ranging from $500 - $25,000 based on creditworthiness. The lowest rates require Autopay and the majority of line amounts will be $15,000 or under. For example, a $1,000 card purchase with a 36 month term and a 19.99% APR has a monthly payment of $37.55. Optional cash transfers to your bank account and balance transfers are subject to a fee of up to 5% of each draw or transfer. Foreign transactions are subject to a fee of up to 3% per transaction. ATM withdrawal fees may apply. If incurred, these fees will increase your finance charge and APR. A late fee of up to $29 per late payment may apply. Your rate, line amount, and default term depend on maintaining a qualifying credit score, your credit usage history, requested amount, and other factors. The Upgrade Card is unique in that it allows you to obtain a series of closed-end loans which you may access through transactions such as card purchases up to your approved amount. As you repay your balance, additional credit may become available to you up to an approved amount subject to meeting our credit requirements, but your line will not replenish automatically.
All Upgrade cards:
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. This one-time bonus is available through this Upgrade Card offer and may not be available for other Upgrade Card offers.
Upgrade's other offerings
Upgrade also offers the following cards:
The Upgrade Secured OneCard, which has the same benefits and rewards structure as the standard OneCard, reviewed above. Your credit line is secured by the balance in an Upgrade deposit account (up to $5,000). This card is not available for direct application, but qualified applicants can apply for the card when they open an Upgrade Rewards Checking Plus account.
The Upgrade Select Visa®, which earns rewards only on select purchases and has an annual fee of $39.
The Upgrade Life Rewards Card, which lets you earn 3% cash back in a variety of categories including gas stations, grocery stores and more. Non-bonus-category spending earns 1% back.
The Upgrade Cash Rewards Visa®, which earns 1.5% cash back on all purchases. Cash back will be applied to the next month’s balance on your card.
The Upgrade Triple Cash Rewards Visa®, which earns 3% cash back on home, auto and health purchases, and 1% back on everything else. Cash back will be applied to the next month’s balance on your card.
Credit Lines feature Annual Percentage Rates (APRs) of 14.99% - 29.99% and line amounts ranging from $500 - $25,000 based on creditworthiness. The lowest rates require Autopay and the majority of line amounts will be $15,000 or under. For example, a $1,000 card purchase with a 36 month term and a 19.99% APR has a monthly payment of $37.55. Optional cash transfers to your bank account and balance transfers are subject to a fee of up to 5% of each draw or transfer. Foreign transactions are subject to a fee of up to 3% per transaction. ATM withdrawal fees may apply. If incurred, these fees will increase your finance charge and APR. A late fee of up to $29 per late payment may apply. Your rate, line amount, and default term depend on maintaining a qualifying credit score, your credit usage history, requested amount, and other factors. The Upgrade Card is unique in that it allows you to obtain a series of closed-end loans which you may access through transactions such as card purchases up to your approved amount. As you repay your balance, additional credit may become available to you up to an approved amount subject to meeting our credit requirements, but your line will not replenish automatically.
Upgrade Life Rewards Card:
*By paying off your statement balance in full by the EarlyPay payment date, which is two calendar days after your statement closing date, you will avoid daily interest on any new transactions until the following EarlyPay payment date. Refer to your Personal Credit Line Agreement for EarlyPay terms and information. If the balance is not paid in full by the EarlyPay payment date, daily interest will begin to accrue after the Early Pay payment date for past and new transactions. To maintain good standing on your account, you must make at least the required monthly payment by the monthly payment due date, which is 22 calendar days after the statement closing date. You may pay down your full balance at any time to stop further interest charges.
Credit Lines feature Annual Percentage Rates (APRs) of 14.99% - 29.99% and line amounts ranging from $500 - $25,000 based on creditworthiness. The lowest rates require Autopay and the majority of line amounts will be $15,000 or under. For example, a $1,000 card purchase with a 36 month term and a 19.99% APR has a monthly payment of $37.55. Optional cash transfers to your bank account and balance transfers are subject to a fee of up to 5% of each draw or transfer. Foreign transactions are subject to a fee of up to 3% per transaction. ATM withdrawal fees may apply. If incurred, these fees will increase your finance charge and APR. A late fee of up to $29 per late payment may apply. Your rate, line amount, and default term depend on maintaining a qualifying credit score, your credit usage history, requested amount, and other factors. The Upgrade Card is unique in that it allows you to obtain a series of closed-end loans which you may access through transactions such as card purchases up to your approved amount. As you repay your balance, additional credit may become available to you up to an approved amount subject to meeting our credit requirements, but your line will not replenish automatically.
All Upgrade cards:
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. This one-time bonus is available through this Upgrade Card offer and may not be available for other Upgrade Card offers.
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