Upgrade
Rewards Checking Plus Visit Upgrade
Advantages Over Traditional Banks
The Upgrade Rewards Checking Plus account offers zero monthly fees and there’s no minimum deposit
required to open an account. You also don't have to pay overdraft fees².
In addition, the Rewards Checking Plus account offers cash back on every purchase you make using your
Visa debit card. You’ll receive 2% back on purchases¹ made at convenience stores, drug stores, gas
stations, and restaurants. You’ll also get 2% back for many monthly subscriptions and utilities.
Upgrade now offers a high yield savings account to customers who already have a checking account.
Account holders can earn 4.41% Average Percentage Yield.
The 2% cash back¹ offer is limited to $500 per year in certain categories, after which you’ll receive
1% back. All other purchases also receive 1% cash back.
A few other Upgrade Rewards Checking Plus highlights include:
- Maximize your rewards with direct deposit³
- Get paid up to 2 days early⁴
Upgrade offers a browser-based dashboard as well as mobile apps for iOS and Android to manage your
Rewards Checking Plus account. The online dashboard enables you to tag transactions and automatically
pay your bills online. However, it doesn’t enable you to integrate accounts from other banks, and
there aren’t many tools for monitoring your spending over time.
Upgrade also has an online credit monitoring and education center. You can monitor your credit score
for free and get weekly updates on any changes. You can also sign up for email alerts to find out if
your score is changing and quickly identify potential fraud.
Traditional Banking Services
Upgrade offers personal loans and credit cards in addition to the Rewards Checking Plus account. Of
the 5 credit cards that the company has on offer, 4 are free of annual fees; they also offer up to 3%
in cash back on select purchases.
Interest Rates and Fees
Upgrade’s Rewards Checking Plus account offers cash back on debit card purchases rather than
interest. You’ll earn 2% cash back¹ up to $500 per year on convenience store, drug store, gas station,
restaurant, subscription, and utilities purchases. You’ll earn 1% cash back on all other purchases.
The Rewards Checking Plus account doesn’t require a minimum account balance and doesn’t charge any
monthly fees. There are also no overdraft fees².
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Account Fee
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Minimum Balance
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Overdraft Fee
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None
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None
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None
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Customer Service and Online Experience
Upgrade offers customer support by phone and email. You can get in touch from 5AM-7PM (PT)
Monday-Friday and from 6AM-5PM Saturday-Sunday. There’s also a detailed online knowledge base where
you can find out more about how to use your Rewards Checking Plus dashboard and Upgrade’s other
products.
Upgrade’s online dashboard is easy to use. You can see a list of all your transactions and tag them
for organization. You can also see your current cash back balance. A bill pay center enables you to
set up automatic payments for utilities, credit cards, loans, and other recurring bills.
Upgrade has a 4.7-star rating on Trustpilot, with more than 25,000 reviews, and an A+ rating with the
Better Business Bureau.
Mobile App
Upgrade has a free mobile app for iOS and Android devices. The mobile app offers much of the same
functionality of the online dashboard, including the ability to track transactions and set up
automatic bill pay. You can also lock your debit card if it’s ever lost or stolen.
The Upgrade Visa debit card is compatible with both Google Pay and Apple Pay.
Security
Upgrade secures your account with SSL and 256-bit AES encryption. The Rewards Checking Plus account
is insured by the FDIC up to $250,000. You can also sign up for credit monitoring and email alerts
through Upgrade to quickly detect potential fraud in your account.
Summary
Upgrade is a financial technology company that offers a checking account, personal loans, and 5
credit cards (4 of which are annual fee-free). The Upgrade Rewards Checking Plus account offers up to
2% cash back on everyday purchases¹ up to $500 per year and 1% cash back on all other purchases. There
are no account fees or overdraft fees², and you’re not required to keep a minimum balance in your
account. You can manage your transactions through an online dashboard or the Upgrade mobile app for
iOS and Android.
Methodology
This review was created using information from the Upgrade website, Trustpilot, and the Better
Business Bureau.
Upgrade
Rewards Checking Plus Visit Upgrade
Disclaimer
¹ Rewards Checking Plus customers who set up monthly direct
deposits of $1,000 or more earn 2% cash back on common everyday expenses at
convenience stores, drugstores, restaurants and bars - including deliveries - and gas
stations, as well as recurring payments on utilities and monthly subscriptions including
phone, cable, TV and other streaming services, and 1% cash back on all other debit card
purchases. 2% cash back is limited to $500 in rewards per calendar year; after $500,
customers earn 1% cash back on all eligible debit card purchases for the remainder of the
year. Rewards Checking Plus accounts with less than $1,000 in monthly direct deposits 60
days after account opening will earn 1% cash back on common everyday expenses and 0.50% cash
back on all other eligible debit card purchases. Some limitations apply. Please refer to the
applicable Upgrade Visa® Debit Card Agreement and Disclosures for more information.
² There are no overdraft fees or annual fees. Optional out-of-network ATM withdrawals are
subject to a fee of $2.50, plus any third-party fees. Debit card transactions with merchants
outside the U.S. or in a foreign currency are subject to a 3% fee. Outbound domestic wire
transfers are subject to a fee of $20 after your first fee-free transfer per calendar month.
Please refer to the applicable Cross River Bank Checking Deposit Account Agreement and
Upgrade Visa® Debit Card Agreement and Disclosures for more information.
³ Early direct deposit requires set up of recurring electronic direct deposit from your
employer, payroll, or benefits provider and is limited to direct deposits under $5000. Early
access to direct deposit funds depends on the timing in which we receive notice of impending
direct deposit, which is generally up to two days before the scheduled deposit date.
⁴ Active
Accounts with a monthly direct deposit of $1000 are eligible for additional benefits
on Rewards Checking Plus such as additional cash back rewards and more. See the Active Account
page for more information.
