Credit Cards

Upgrade Visa with Cash Rewards Card Review: Build Credit

Editorial IndependenciaWe want to help you make more informed decisions. Some clearly marked links on this page may take you to a partner website and may earn us a referral fee. For more information, see How we make money. Upgrade Visa® Card with Cash Rewards Editor’s Score: (N/A)

Editor’s Score: (N/A)

Last updated January 12, 2022

All reviews are prepared by NextAdvisor staff. The opinions expressed therein are solely those of the reviewer. Information, including card rates and fees, presented in the review is accurate as of the review date.

Reward rate:

Get unlimited 1.5% cash back on card purchases every time you make a payment.

NextAdvisor’s Take

advantages

  • Earn 1.5% cashback when making payments
  • Fixed interest and standard monthly payments if you have a balance
  • No annual fee
  • Available for average credit

Cons

  • No welcome bonus
  • Potentially high APR
  • Balance transfers not allowed

The bottom line

The Visa Cash Rewards Upgrade Card offers 1.5% cash back on everything, but you’ll earn your rewards as you make your fee payments, not when you shop. There is no annual fee and you can qualify for this credit building card with a less than perfect credit score. If you need to carry a balance, fixed payment plans help you pay off your balances faster.

Additional card details

  • Variable 8.99%-29.99% APR
  • no fees
  • Fixed and predictable monthly payments (terms assigned based on credit)
  • Lines of credit up to $25,000 available
  • Check the line of credit you qualify for without a hard credit check
  • Report payments to all three credit bureaus

Visa Update with Cash Rewards Card Full Review

card type

The Cash Rewards Upgrade Visa is a cash back credit card with flat cash rewards. It can also help you build credit, as you can qualify with average or “fair” credit, or FICO scores that fall between 580 and 669.

Annual quota

The Visa Upgrade with Cash Rewards does not charge an annual fee.

Welcome Offer

This card does not offer a welcome bonus of any kind, although many other cash back card options do.

introductory offer

There is no 0% introductory APR for new purchases or balance transfers when you sign up for this card.

rewards

The Visa Upgrade with Cash Rewards earns a flat rate of 1.5% cash back. You’ll earn your rewards as you pay for purchases loaded onto your card, not when you shop. That means if you carry a balance on this card, it may take longer to earn rewards.

And you won’t choose when to redeem your cash rewards – as you earn them, rewards are automatically added to your next monthly balance as statement credits.

Rate

This card does not charge an annual fee. You will also not pay foreign transaction fees, transfer fees, late payment fees, or other fees of any kind.

Other benefits

Upgrading from Visa with Cash Rewards has very few benefits, which is common among credit building cards.

When you load purchases onto this card, you’ll have the option to pay off your balance in predictable, fixed monthly payments, and may qualify for up to a $25,000 line of credit. Upgrade Visa with Cash Rewards also reports to all three credit bureaus (Experian, Equifax, and TransUnion), so it can help you build credit over time.

Benefits of Upgrade Visa with Cash Rewards Card

The biggest benefit of the Upgrade Visa with Cash Rewards card is its 1.5% flat cash rewards.

While it’s always smart to pay off your balances in full each month, this card also has a unique payment structure that can help lower the cost of carrying a balance. You can pay for your purchases in a fixed term with a fixed interest rate, more like a personal loan than a traditional revolving credit card. Your assigned rate, term, and your overall line of credit will depend on your credit score, credit history, and other factors.

Finally, the Visa Upgrade with Cash Rewards does not charge an annual fee or any other fees. Credit-building cards can often charge monthly fees or activation fees that can make building credit expensive, so this card’s lack of fees can help you save even more money in the long run.

Drawbacks of Upgrade Visa with Cash Rewards Card

Visa’s upgrade with Cash Rewards falls short in a few areas, including the fact that it doesn’t offer a welcome bonus. In contrast, many cash-back credit cards offer bonuses of $200 or more when you can meet a minimum spending requirement within the first few months.

The variable APR charged by this card can also range from relatively low to extremely high (8.99% to 29.99%). If your credit score isn’t great and you find yourself with a variable APR at the higher end of this card’s range, your debt can get quite expensive despite the fixed payment schedule. To qualify for the lower rates, you must also enroll in autopay.

How to use the Visa upgrade with the Cash Rewards card

Before you apply, you can see what credit limit you qualify for on the Upgrade site, without undergoing an extensive credit check. This can help you determine if you are eligible for competitive terms without submitting an application.

Upgrading from Visa with Cash Rewards can help you build credit if your credit score is less than excellent. Plus, you can get 1.5% back on every purchase. Just remember, because Upgrade Visa with Cash Rewards offers payment-based rewards, you’ll earn 1.5% back on payments you make toward your balance (not when you shop).

This card can be useful if you need to make a large purchase and pay for it over time. Once approved, you may qualify for a line of credit of up to $25,000. You can use your card to spend up to your limit, or transfer funds to your bank account, then make payments toward your credit limit like a personal loan.

pro tip

The Visa Cash Rewards Upgrade Card does not allow balance transfers, but you can use this card to have funds from your line of credit sent to your bank account. From there, you can use the cash to consolidate other debt as you pay off your line of credit in standard monthly payments at a fixed rate.

As you make purchases with your card, you will be assigned a fixed monthly payment and repayment schedule within which you will pay. This means your monthly payment may be higher than other cards’ minimum payments, but you’ll save on interest and pay off debt faster.

However, you can avoid interest altogether if you pay your balances in full and on time each month before they are due. You’ll forgo any high-interest debt and get more value from your spending by qualifying for cash back rewards.

Upgrade Visa with Cash Rewards card compared to other cards

More information external link icon

Upgrade Visa® Card with Cash Rewards

Editor’s Score: (N/A)

Editor’s Score: (N/A)

Last updated January 12, 2022

All reviews are prepared by NextAdvisor staff. The opinions expressed therein are solely those of the reviewer. Information, including card rates and fees, presented in the review is accurate as of the review date.

  • Introductory Offer:

    N/A

  • Annual quota:

    $0

  • ordinary APR:

    8.99% – 29.99% APR

  • Recommended Credit:

    580-740 (Fair to Good)

  • More informationexternal link icon On our partner’s secure site

More information external link icon Chase Freedom Unlimited®

Chase Freedom Unlimited®

Editor’s Score: (4.7/5)

Editor’s Score: (4.7/5)

bounty rate: 5.0

welcome bonus: 5.0

annual fee: 5.0

other cost rates: 4.0

intro april: 4.0

other benefits: 5.0

simplicity: 3.0

annual percentage rate: 3.0

Last updated January 12, 2022

All reviews are prepared by NextAdvisor staff. The opinions expressed therein are solely those of the reviewer. Information, including card rates and fees, presented in the review is accurate as of the review date.

  • Introductory Offer:Earn an extra 1.5% cash back
  • Annual quota:

    $0

  • ordinary APR:

    14.99% – 23.74% Variable

  • Recommended Credit:

    670-850 (Good to Excellent)

  • Apply Nowexternal link icon On Chase’s secure site

More information external link icon Wells Fargo Active Cash℠ Card

Wells Fargo Active Cash℠ Card

Editor’s Score: (4.6/5)

Editor’s Score: (4.6/5)

bounty rate: 5.0

welcome bonus: 4.5

annual fee: 5.0

other cost rates: 3.0

intro april: 5.0

other benefits: 3.5

simplicity: 5.0

April in progress: 3.0

Last updated January 12, 2022

All reviews are prepared by NextAdvisor staff. The opinions expressed therein are solely those of the reviewer. Information, including card rates and fees, presented in the review is accurate as of the review date.

Is the Visa Cash Rewards Card Upgrade Right for You?

Editorial Independence

As with all of our credit card reviews, our analysis is not influenced by any association or advertising relationship.

If you’re looking for simple cash rewards, this card can help you earn 1.5% cash back on everything you buy, but remember you only get your rewards in increments as you pay your bill. Depending on your credit, you may qualify for other fixed cash back credit cards that can offer even more value on your spending, like the Wells Fargo Active Cash℠ card, which earns unlimited 2% cash rewards and no annual fee , plus a welcome cash bonus and 0% introductory APR.

If you like the idea of ​​paying off credit card debt with predictable, fixed monthly payments and a shorter repayment period, the Cash Rewards Upgrade Visa might be right for you. But if you have an upcoming big purchase you’re looking to finance, a card with a generous 0% introductory APR on new purchases may be a better option to pay off the cost over time and avoid interest altogether.

Before you apply, compare other credit cards that can help you reach your financial goals, whether you want to earn cash back and other rewards or focus on building credit.

Frequently asked questions (FAQ)

What is the credit limit on the Visa Upgrade with Cash Rewards?

The credit limit for this card can range from $500 to $25,000.

Is the Visa Upgrade with Cash Rewards a real credit card?

Upgrade Visa with Cash Rewards is a Visa credit card – you can use it anywhere Visa cards are accepted.

What credit score do you need for the Visa Upgrade with Cash Rewards?

This card is intended for people with “fair” credit scores, or FICO scores that fall between 580 and 669.

Does the Visa Upgrade with Cash Rewards charge fees for foreign transactions?

This card does not charge foreign transaction fees, an annual fee, or any other fees.

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