Upgrade Card review: A card with fixed rates and terms
Great for predictable payments
Annual Fee: $0 (you may see different offers on Credit Karma)
This content is curated by Intuit Credit Karma’s Editorial team using data from members who were approved for this card or similar cards, or who self-matched this card or similar cards. Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse this content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.
Here’s the average credit limit of members who matched their Upgrade Card or similar cards.
% of members by credit limit range
The average credit limit for members who have matched with this card or similar cards is $2,888, with $300 being the most common.
Here’s the average credit score of members who matched their Upgrade Card or similar cards.
% of members by credit score range
The average credit score for members who have matched with this card or similar cards is 614, with 585 being the most common. Note this is just one of the deciding factors when it comes to getting approved.
Member stats
Updated daily
53.9%
Average credit utilization (or what percent of the card’s credit limit is being used) of members who matched with this card or similar cards.
44 years
Average age of members who matched this card or similar cards.
$75,352
Average annual income of members who matched this card or similar cards. Note: Income may be estimated for some members by Credit Karma and may differ from members’ actual incomes.
Pros and cons
Image: yesNo annual fee (you may see different offers on Credit Karma)
Image: yesFixed interest rates on purchases
Image: yesOffers a solid credit limit range
Image: ConCredit limit and interest rate may change if there are any changes to your credit scores or other risk factors
Image: ConCard can’t be used at ATMs
Image: ConNo rewards program
Upgrade Card review
Updated September 3, 2024
This date may not reflect recent changes in individual terms.
Written by: Kat Tretina
How does the Upgrade Card work?
The Upgrade Card isn’t like a traditional credit card — it’s a personal line of credit with a fixed interest rate and repayment term that may remind you of an installment loan.
You’ll pay off your line of credit with equal monthly payments. That may help you pay down debt sooner than if you only make minimum monthly payments on a traditional credit card since you’ll have a set payoff date to work toward.
Upgrade will issue you a card that you can use at any retailer that accepts Visa — or you can transfer funds to your bank account. Keep in mind that you can’t use the card at an ATM to withdraw cash.
The Upgrade Card offers credit lines ranging from $500 to $25,000, though you might see different offers on Credit Karma. And keep in mind that if you’re approved, your credit line amounts and APR will depend on your credit and other factors.
Here’s some more information you should know if you’re considering the Upgrade Card.
No rewards program or extra perks
If you’re looking for a rewards program, keep in mind that the Upgrade Card doesn’t offer one.
The credit line doesn’t offer any extra benefits, either. So if you’re looking for financing that offers perks such as car rental insurance or trip cancellation insurance, we recommend looking elsewhere.
Competitive rates
Upgrade Card offers a purchase APR of 14.99% - 29.99% (you may see different rates on Credit Karma). But you’ll need to have strong credit and set up autopay to qualify for a lower rate in this range.
Take note: The interest rate can be quite high. If you have strong credit, it may make more sense to see if you qualify for a credit card with an introductory rate.
What else you need to know about the Upgrade Card
- Installment terms — You make payments toward an installment plan that’s paid over the span of 24 to 84 months, with fixed rates and equal monthly payments.
- APR adjustments — If there’s a change in your credit scores — or anything else the lender considers a risk factor — Upgrade may adjust your purchase APR. The terms on your existing balances won’t change — this would only apply to new purchases.
Who this card is good for
The Upgrade Card is good for people who want the flexibility of charging their purchases on a card but want the fixed terms and equal payments that this line of credit offers.
Not sure if the Upgrade Card is for you? Consider these alternatives.
- Citi Simplicity® Card: Consider this card if you’d prefer a balance transfer card.
- Capital One Quicksilver Cash Rewards Credit Card: This credit card allows you to earn cash back on every purchase, with decent benefits for cardholders.
- Upgrade personal loan: Upgrade also offers personal loans for a fixed amount of money. It may be a good option if you’re self-employed.
Member reviews
Most helpful positive review
March 22, 2023
It's different than a traditional credit card, yes
— Credit Karma Member
Based on some of the older reviews in 2021 or 2022, it seems they've made improvements. It is simple enough schedule your payment, and to confirm that it is set to "EarlyPay" which results in zero interest being added to your line of credit loan. As they explain, all transactions in your monthly bill cycle are treated as a loan that begins accumulating interest right after your billing cycle finishes, IF you don't sign up for early pay. Like I do with all of my credit cards, I spend only what I can pay off in full, so this isn't an issue for me. This card is giving me a great rewards rate.
Most helpful negative review
January 2, 2023
Okay at first
— Credit Karma Member
Yes you get a high line at first and it's easy to us, but making extra payments and trying to pay it off is such a hassle. Also, my credit score went up by 100+ points, my income increased by $75k a year from when I applied and they randomly DECREASED my line of credit. Which makes zero sense... I am a less risky customer now so a decrease is not needed. I reached out and provided them with my updated credit report (the score on the adverse letter was wrong), my paystubs, and instead of a personal reply I got a standard "we can't do anything, read the adverse letter".... I did read the letter and it had wrong information so that's why I reached out. Super frustrating, I will close this account once it's paid off.