| Last updated on November 23rd, 2023
Upgrade Visa® Card with Bitcoin Rewards
Upgrade Visa® Card with Bitcoin Rewards
Upgrade Visa® Card with Bitcoin Rewards
- 14.99%-29.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 14.99% to 29.99% Balance Transfer APR
At a Glance
The Upgrade Visa® Card with Bitcoin Rewards offers no fees, low rates, cash back in bitcoin, and credit lines up to $20,000 in one exceptional package. The card provides the flexibility and predictability to pay down card balances and get debt-free quickly – with the added benefit of crypto rewards on every purchase.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- $200 bonus after opening a Rewards Checking Plus account and making 3 debit card transactions*
- Earn unlimited 1.5% back in bitcoin rewards after you make payments on your purchases
- The simple way to earn bitcoin: make purchases on your card, make payments, earn bitcoin
- No annual fees
- Get pre-approved in seconds with no impact to your credit score
- Pay with your phone or device by using Apple Pay® or Google Pay™
- Mobile app to access your account anytime, anywhere
- Enjoy peace of mind with $0 Fraud liability
- *To qualify for the welcome bonus, you must open and fund a new Rewards Checking account and make 3 qualifying debit card transactions from your Rewards Checking account within 60 days of the date the Upgrade Card account is opened. To qualify, debit card transactions must have settled and exclude ATM transactions. Please refer to the applicable Upgrade Visa® Debit Card Agreement and Disclosures for more information. Your Upgrade Card and Rewards Checking account must be open and in good standing to receive a bonus. If you have previously opened a Rewards Checking account or do not open one as part of this application process, you are not eligible for this welcome bonus offer. Welcome bonus offers cannot be combined, substituted, or applied retroactively. The bonus will be applied to your Rewards Checking account as a one-time payout credit within 60 days after the 3rd qualifying card purchase.
- Regular Purchase APR: 14.99%-29.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 14.99% to 29.99%
- Balance Transfer Transaction Fee: Up to 5%
- Foreign Transaction Fee: Up to 3%
- You struggle to pay off credit card balances
- You want a structured repayment plan
- You can reliably pay off your statement balances to earn bitcoin rewards for purchases
- You don’t want to pay an annual fee
Upgrade Visa® Card with Bitcoin Rewards Review
The Upgrade Bitcoin Rewards Card offers the same exceptional APR as the original Upgrade Visa – but with crypto rewards with every purchase. The card, issued by Sutton Bank, features a low interest rate that blurs the line between a personal loan and credit card, plus bitcoin rewards that can help supercharge your crypto wallet balance.
Earn Bitcoin with Every Purchase
The Upgrade Bitcoin Rewards Card differs from the cash back version of the card (the Upgrade Visa® Card with Cash Rewards) in that it earns its rewards in the form of cryptocurrency – namely, bitcoin (BTC). Cardholders earn an unlimited 1.5% back in bitcoin rewards for every eligible purchase. This BTC earning rate is one of the highest with a crypto credit card – on par with the BlockFi Rewards Visa® Signature Credit Card.
Like other Upgrade Cards, there is a catch to earning BTC rewards. Members will only get rewarded after paying their monthly billing statement. Upgrade’s approach to rewards (bitcoin and cash back) is similar to the Double Cash Card from Citi. That card earns 1% cash back on purchases upfront and an additional 1% after paying off those purchases.
Initial BTC rewards are subject to an initial 90-day holding period after the first purchase on the new user’s account. This holding period stipulates that cardholders cannot sell their BTC. Sales of bitcoin are also subject to a 1.5% transaction fee, and the proceeds from any sales are redeemable in the form of statement credit only.
Upgrade Card Comparison
| Upgrade Cash Rewards Visa® | Upgrade Triple Cash Rewards Visa® |
|---|---|
| Earn 1.5% unlimited cash back on card purchases every time you make a payment | Unlimited cash back on payments – 3% on Home, Auto and Health categories and 1% on everything else |
| All Upgrade Visa cards provide the following benefits: | |
| Combine the flexibility of a credit card with the predictability of a personal loan | |
| No touch payments with contactless technology built in | |
| See if you qualify in minutes without hurting your credit score | |
| No annual fee | |
Pay Down Debt with an Exceptionally-Low APR
The Upgrade Bitcoin Rewards Visa also shares the same approach to paying down debt as other Upgrade products. The card is an easy-to-use credit line with 12, 24, 36, or 60 months installment plans variable based on the applicant’s creditworthiness.
The Upgrade Card works in two ways. Cardholders can use their line of credit to make purchases anywhere Visa is accepted worldwide. They can also choose to have some of the credit line transferred to their bank account to help pay off existing debt. This latter method makes the card a useful alternative for a balance transfer credit card.
Upgrade then lumps all bank transfers and purchases into one balance, which the account holder then pays down based on their installment terms. Cardholders can continue making purchases or transferring funds to existing bank accounts up to their credit limit during subsequent statement periods, with the process repeating.
Pay Off Balances Faster
Upgrade Cards make paying off existing debts almost effortless thanks to their low APR, which can reach as low as eight-percentage-points lower than other leading low APR credit cards for those with excellent credit scores. According to research, paying a $10,000 balance takes just a few years with the Upgrade Visa, compared with other traditional low rate credit cards that can take up to 20 years.
No Hidden Fees
The Upgrade Card positions itself as a different kind of credit card, so eliminating fees of any kind is in tune mission statement. The card has no annual fee, no late fees, and no penalty fees or APR. There are also no balance transfer fees, making paying down balances even easier.
Other Card Features
Other notable features of the Upgrade Bitcoin Rewards Visa Card include:
| BestCards | Better Business Bureau | TrustPilot |
|
5/5 |
5/5 |
5/5 |
Other notable features with the Upgrade Visa include:
- EMV chip technology
- Contactless payment capabilities
- Mobile wallet compatibility with Apple Pay, Google Pay, and Samsung Pay
Bitcoin Rewards Card State Exclusions
It’s important to note that the Upgrade Visa® Card with Bitcoin Rewards card is not available in all areas of the United States. Currently, the card is not available to applicants residing in Washington D.C., Hawaii, Iowa, New Hampshire, West Virginia, and Wisconsin.
Upgrade Card FAQs
- Yes! The Upgrade Card is a regular Visa credit card that also acts as an installment loan.
- Unlike other cards, Upgrade is reported as an installment loan on your credit report.
- The card requires a fair credit score or higher. Those with a credit score of 620 or more are eligible for the card, while those with lower credit scores should consider another credit card for rebuilding credit.
- Yes. Upgrade reports to Equifax, Experian, and TransUnion.
- Upgrade Loans are different from the Upgrade Visa® Card with Cash Rewards. Upgrade Loans may contact your employer to verify employment and income details. The Upgrade Card, however, acts like any other credit card application, meaning you won’t have to worry about your employer being contacted.
Upgrade Card Ratings
How does the Upgrade Card stack up? Here is a selection of expert reviews for the card:
| BestCards | Better Business Bureau | TrustPilot |
|
5/5 |
5/5 |
5/5 |
Should You Apply for the Upgrade Visa® Card with Bitcoin Rewards?
The Upgrade Bitcoin Rewards is a tough-to-beat credit card for fans of crypto rewards and low interest rates. The interest rates are the same as with other Upgrade Cards, making it among the best in the business. The ability to pay down debt – and earn BTC with every purchase – is another perk that makes the card something that provides everyday value.
The inability to transfer bitcoin to digital wallets is frustrating but provides cardholders with a chance to supercharge their cash back and debt repayment. Bitcoin has seen extraordinary growth over the past five years, making it an enticing proposition for those who want the chance to boost their debt repayment with the volatility of the cryptocurrency markets.
Ultimately, the Upgrade Visa® Card with Bitcoin Rewards is an exciting credit card that ticks many boxes that people want in a rewards credit card. The inability to use bitcoin towards other redemption options is frustrating – and may put some off applying – but for those that can look past this small flaw, it’s a great crypto card to consider.
*To qualify for the welcome bonus, you must open and fund a new Rewards Checking Plus account through Upgrade and make 3 qualifying debit card transactions from your Rewards Checking Plus account within 60 days of the date the Rewards Checking Plus account is opened. If you have previously opened a checking account through Upgrade or do not open a Rewards Checking Plus account as part of this application process, you are not eligible for this welcome bonus offer. Your Upgrade Card and Rewards Checking Plus account must be open and in good standing to receive a bonus. To qualify, debit card transactions must have settled and exclude ATM transactions. Please refer to the applicable Upgrade VISA® Debit Card Agreement and Disclosures for more information. Welcome bonus offers cannot be combined, substituted, or applied retroactively. The bonus will be applied to your Rewards Checking Plus account as a one-time payout credit within 60 days after meeting the conditions.
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