Upgrade Card review: A card with fixed rates and terms

Young woman at home, reading about the Upgrade Card on her cellphoneImage: Young woman at home, reading about the Upgrade Card on her cellphone
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  • No annual fee or late fee
  • Fixed interest rates on purchases
  • Offers a solid credit limit range


  • Credit limit and interest rate may change if there are any changes to your credit scores or other risk factors
  • Card can’t be used at ATMs
  • No rewards program
From our partner

Upgrade Card

3.4 out of 5

From cardholders in the last year

See details, rates & fees

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%. 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.

About the author: Kat Tretina is a personal finance writer with a master’s degree in communication studies from West Chester University of Pennsylvania. Obsessed with her many side hustles, she focuses on helping people pay down their … Read more.