Upgrade, Inc. has launched the first widely available bitcoin credit card – the Upgrade Bitcoin Rewards Card. The new crypto credit card offers unlimited 1.5% BTC on all purchases as the cardholder makes their monthly payments. Here is what you need to know about the launch of the Upgrade Bitcoin Rewards Visa:
Upgrade Launches First Widely Available Bitcoin Rewards Credit Card
Upgrade, a leading fintech that provides lending and credit card options for consumers, has launched its latest product, the Upgrade Visa® Card with Bitcoin Rewards. The new credit card offers users unlimited 1.5% bitcoin rewards with every purchase, with no annual fee.
The newest Upgrade Card is the first widely available cryptocurrency credit card on the market in the U.S. Other crypto cards are available, but those require a membership with a crypto trading platform – such as the BlockFi Rewards Visa® Signature.
On the other hand, Upgrade’s Bitcoin Rewards Card is available to anyone eligible for a credit card, with bitcoin (BTC) rewards applying towards paying down card balances via statement credits. However, the unique hook with the BTC version of the Upgrade Visa is that those rewards can ride the rollercoaster that is the cryptocurrency marketplace – with the potential for more rewards than with a traditional cash back card tied to fiat currency.
Upgrade Card Features
The Upgrade Bitcoin Rewards Card also features one of the lowest purchase APRs for applicants with excellent credit available and offers an easy-to-use credit line with 12, 24, 36, or 60 months installment plans variable based on the applicant’s creditworthiness. Credit limits with the card are between $500 to $25,000.
The new Bitcoin Visa from Upgrade includes Visa Signature benefits, including trip and baggage insurance, Visa Luxury Hotels Collection access, purchase protection, and extended warranty coverage.
Responsible Credit with the Fun of Owning Bitcoin
Speaking in a release accompanying the launch of the Upgrade Visa® Card with Bitcoin Rewards, Renaud Laplanche, co-founder and CEO at Upgrade, highlighted the excitement that comes from bitcoin rewards. “Upgrade Card is already delivering over $3 billion in annualized credit to consumers,” he said. “Starting today, anyone can apply for an Upgrade Bitcoin Rewards Card and enjoy the same affordable and responsible credit as with any Upgrade Card, plus the potential upside and fun of owning bitcoin.”
An Exciting Addition to the Upgrade Portfolio
The new Upgrade Bitcoin Rewards Card is just one of Upgrade’s credit card offerings. The fintech also issues two cash back cards, which feature the same exceptionally low APR and Visa Signature perks and protections.
The Upgrade Visa® Card with Cash Rewards is the fiat currency version of the bitcoin rewards card. The card earns an unlimited 1.5% cash back on all eligible purchases once the cardholder pays off their statement balance each month.
The Upgrade Triple Cash Rewards Visa® offers accelerated cash back on select categories, with the same great rates and features as Upgrade’s other credit products. Cardholders earn an unlimited 3% cash back on home, auto, and health category purchases, with 1% back on all other purchases. Like the other Upgrade Card products, cash back is awarded once the account holder pays their statement balance in full each month.
Upgrade is a fintech seeking to provide a mobile banking experience that delivers exceptional value to its customers by offering affordable and responsible credit through cards and loans and market-leading rewards. The company provides personal loans, credit cards, and rewards checking accounts, and has made over $7 billion in credit available to customers since 2017.
Related Article: Is Bitcoin the Future of Credit Card Rewards?
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