How does the Upgrade Cash Rewards Visa® Work?
The Upgrade Cash Rewards Visa® works differently than a traditional credit card by combining a revolving credit line with a personal loan's predictable installment payments. Instead of a fluctuating monthly minimum, any balance you carry is converted into a fixed-rate installment loan, which you pay off with equal monthly payments over a set period.
How the card works
Using the card for purchases
1. You make purchases with the card anywhere Visa is accepted.
2. At the end of your billing cycle, all the purchases you didn't pay off are grouped together and converted into an installment loan.
3. Based on your credit profile, Upgrade provides an APR and a fixed term (for example, 12 to 60 months) for the repayment of that month's purchases.
Making payments
Earning and redeeming rewards
Who is it for?
The Upgrade Cash Rewards Visa® is best for consumers with fair credit who want a structured and disciplined way to pay off large purchases. It provides the predictability of a personal loan with the spending flexibility of a credit card. However, for those who regularly pay their balance in full each month, a standard rewards credit card with a grace period is a more effective option for earning rewards and avoiding interest.
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FICO® Credit Scores
A FICO® Score is a proprietary credit score created by the Fair Isaac Corporation (FICO). About 90% of top U.S. lenders use it to make lending decisions.
FICO® Score Ranges:
- Exceptional: 800–850
- Very Good: 740–799
- Good: 670–739
- Fair: 580–669
- Poor: 300–579
FICO categorizes scores as Poor, Fair, Good, Very Good, and Exceptional.
What is a Credit Score?
A credit score is a three-digit number (300–850) predicting your creditworthiness. Lenders use it to evaluate risk and determine rates and terms for credit.
Why it matters: A higher score can help you qualify for loans and lower interest rates. A lower score can lead to higher borrowing costs or application denials.
FICO® Credit Score Facts
- Three-Digit Number: Summarizes your credit risk.
- Range: 300–850; higher scores = lower risk.
- Data Source: Uses your credit reports from Experian, Equifax, and TransUnion.
- Industry Standard: Lenders rely on FICO for mortgages, auto loans, and credit cards.
Note: Credit scores reflect your creditworthiness but do not guarantee approval for any credit product.
Security Notice: All participating issuers use secure application systems protected by Transport Layer Security (TLS) encryption to help protect your information.
*See the online credit card applications for details about terms and conditions of credit card offers. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the " Apply Now " button you can review the credit card terms and conditions on the credit card issuer's web site.
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