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ProudMoney - Credit Cards & Personal Finance I like your channel because you always talk about small banks 3rd banks and not common cards products , unlike many other channel only talk about chase AMEX all day which we all knew already. Plz keep it up and bring us more cards products from smaller banks . This is what we want thank you so much
It's simple don't use it as a credit card use it as access to liquidity if you need it. Without getting dinged from hard inquiries every time you needed to borrow cash
I was pre approved for a 3,000 credit limit but when I found out they don’t apply that credit limit to my credit utilization which is exactly what I wanted I bowed out.
@@mantiscity Meaning the credit they give you is not going to show up on your credit report as useable credit limit on your utilization , so if you have $5K in Credit card charges and you have a Credit card w/ only $5 K limit then you are at 100% utilization. if you got a $10K loan from them, it would not show up on your report saying that you used 50% utilization of the $10K ( which would be the 5K) .. so it is pointless to get this loan. unless you need it
I Like this channel because you always show us different kind of cards products 3rd banks small banks products !!! Unlike other channel only talk about chase AMEX all day so boring
seems like a great card for new homeowners for the unexpected major expense or improvement. I used the heck out of Blispay for my camp until they went under... Did I do that? Anyway, 6.49%/20K is a good backup. I'll give it a try.
I was approved with a 652 credit score and 2 months after the discharge of my chapter 7 bankruptcy. I was approved for 3000 @ 29.94%. I accepted and only took out 1600 which equates to 68 dollars a month payment for 36 months. I'm ok with that. It will be reported on my credit report and will help me rebuild my credit.
@@unknown36187 I thought they charged you the interest from the beginning? So did you not end up paying $2448 anyway? From what I understood there’s no benefit of paying it off early since the interest is already factored in.
Oh damn! This credit card has a lot of issues. First of all, it's a combination between a loan and a credit card, and it constantly messed up my balance, so I decided to close the accounts. The first time I called in to close my account, the agent from the other side told me that I was still eligible for a $400 reward with 3 debit card transactions, although I told him specifically that I was not because it was over 60 days since my account opening, which did not meet the time restriction of the promotion. The second time I called in, another agent confirmed my thoughts (damn!), but when I requested to close my account, he just pretended not to understand what I said by deflecting the topic saying that I had zero balance so no need to close and something like that. I was pretty upset so I raised my voice, and eventually he reluctantly announced the disclosure and claimed to close my account in 30 days. Do avoid this card, their business and customer services are practically jokes.
I personally pay off my balance monthly ((BUT)) I like this upgrade car idea !!!!! I will apply it , this work like a Personal Line Of Credit to me ! Sit there just Incase if I need cash Loan and is ready for me anytime without apply it at the time I need it.
I got approved for 20,000. I believe my interest rate is right under %15. My credit score is Less than 700 credit score but zero hard inquiries. Should have my card this week
Interesting product. Sounds like a modified version of the "Pay Over Time" feature that American Express has been adding to the Gold and Platinum cards.
Question: let’s say they give you a limit of $1,000, does that reflect on your credit card utilization? As in let’s say you had one other credit card @ $1,000 and this one, would you have $2,000 in credit and a balance of $600 would show as 30% utilization or would it show as 60% utilization? My second Question is.. could this be wise to have if you wanted it for emergencies? As in, you don’t use it unless an emergency comes up, then instead of needing a loan and going through the process, you already have those funds there as you need it?
Congrats that's a nice grip. I think the card is pretty dope myself. It only reports as an installment loan on your credit report but if gives you access to some cold cash when you need it on tap.
But do you have to have a loan first with them? Like a credit line first approved? Or you can use it right away and what you use gets turned into a loan? It's confusing. Cause after I applied, said approved, then they sent the card, now want all kinds of my financial documents and account numbers, but I said I don't want a loan, does that mean I can't use the card??
"After carefully reviewing your application..." How can it be called careful, when a computation machine calculates it? That is funny that it is listed twice. Sounds like they give you a debt card linked to line of credit (account). Is the payments only from a bank account Adam? If so don't most credit cards balance transfers go though a checks still (due to credit industry not always wanting you to transfer balances away) on the back end of a balance transfer? That would be interesting (uh oh, a bit of a pun) to know, especially the first and last questions.
No it’s not the same, they don’t add what they approve you for towards your credit utilization which sucks because that was the reason I applied for it, so I denied the approval.
Is this like the Oportun Visa credit card? I just got approved for it yesterday and waiting for the card but they didn't give me much info including the amount I was approved for.
So if I get approved and take in this card but decide not to use it at all will I still be required to make a monthly payment because I'm still "borrowing" the money?
@@350zLeMans I passed it up too best thing to do is to just pay things off slowly budget and get a secure credit card with a credit union play it safe and build gotta play the credit game …
The people with bad credit or low credit scores pay high interest all the time. Seems like a burden to poor people which I never understood. Credit companies should issue the same interest rate to all! Why should poor people be hit with high interest rates when they are trying to improve their credit rating and lives? Horrible!
Credit companies can't issue the same interest rate to all. That would be nice but it's just not realistic. Lenders need to be able to determine if they are going to get their money back or not. The only way to know this (to some degree) is to check someone's previous credit history. Those who are seen as "high risk" have to pay more. Unfortunately people with bad credit end up paying much more for the same items than those with good credit. I know it doesn't seem fair but this is why credit scores exist.
@@ProudMoney I didn't mean paying multiple times within a month. If you pay the card off 1 month and use it the next month and pay it off again is that considered/reported as 2 separate personal loans? & if so would that lower your score over time?
i am honestly not 100% sure, but i think that it would not be reported as multiple loans. my understanding is that the card is considered a credit line and as long you are making the required payments, it is reported as payments on that single credit line. any particular "loan" that you are paying against is just a slice of that credit line.
Marvin M. Actually I saw the company said “Prepay any amount at any time with no penalty” so that mean we can pay multiple times with any amount we want (higher than fixed amount) but unsure they will post new tradeline Loan on our report for each new paid off and new balance begin , but I personally doubt it . I believed this will be report as credit limit like normal cards accounts tradeline
i got denied with a 774 score and it was because lack of instalmentloan history.... pretty trash card just wanted to see what i would get approved for lol
Hi. I'm looking to pay off 5 credit cards. How can I do this with this card?? Also Upgrade sent me a offer for a personal loan of 10k. Which one should I apply for?? And do I have a choice to see the limit before I agree and how?? Thanks
I have the upgrade card and haven’t used it at all for months now and nothing shows up on credit reports. It’s when you use it then a installment loan will pop up on your report.
You don't pay interest until you actually use it, and only on the amount you use. I'm thinking about getting it just to increase my credit line. They are generous with the limits. And if I ever need cash, it's there waiting for me to use it with no cash advance fee, and no extra high interest like on regular credit card. This would be a good card for doing flips, buy and resell stuff, watches, phones, computers, cars, motorcycles, etc. I hear conflicting information on whether it is a revolving line of credit, or an installment loan. The people saying that it is only an installment loan don't actually own the card. The one guy I heard that actually owns the card, says it does actually replenish when you pay portions of it off.
Not their not. They are 100% legit, I've been using my card over a year now and love it. Nice to have some cold hard cash on tap when you need it and pay it back without any strain. And then it replenishes all over again.
Yes you get a bonus 400 after 3 transaction. You get 2.2% back after you pay off they balance that month. You have a time limit as a loan of maybe 36 months or more. So yes it is a hybrid loan/credit card. They loan you the amount and you have 36 months to pay everything back. You need to reapply after 36 months. To get another "loan"
@@Skulltones Just got approved for 2,000 my and my TransUnion is at 638, but if I use the whole 2,000 how much would the payments be tho??? and just got off the phone with them. The gentleman confirmed it is NOT revolving. If I use 200 bucks and pay it off then It does not go back in and equal 2,000 again. 😏 and with that, now I don't exactly see the point of this card loan thingy. oh well. Or you think it is still good to have????
There is definitely a such thing as a soft pull. Are you serious? Lol...soft pulls do not show up on your report. only you can see your soft pull through certain apps when you are checking your "own" credit. Creditors cannot see soft pulls when they pull your credit.
For you. You mean. Mobil ONE isnt recommended for a cocktail but its kept my catarpillar king of the left lane for 700k an climing. The gentleman two comments above you is also claiming victim or crushed entitlement. Idk..hard to say....I howeve;, well think ignorance is a choice, and personally if I was only "pre approved" for only 3500 on an open ended line of credit with more than 2 hard hits in 12 months, available credit line under $5k and revolving credit above 18% and a credit score under 680, I wouldnt even consider this as an option...but some of us have found excellent uses and benefits from this. Your welcome.
That’s the part I was waiting for. Basically, they’ve constructed this card in a way that GUARANTEES interest. I only was interested because they offered a $400 sign on as long as the account was in good standing within like 3 months I think, but that’s not worth the hassle of paying interest to then never use this scam card again.
It's not a scam, they try to set you up with auto pay but it's optional afterwards. I've had my card for a year. I think it's a great card when you need to get your hands on some cold cash. You can use as little as as much as you want. And when you pay it off your credit line will replenish.
This would be a nice option to have for emergencies or large expenses, but I wonder if they close your account if you don't use it often enough life many credit cards do. I don't like the pressure to "use it or lose it" that a lot of cards have. I recently had one of my accounts closed without warning because I hadn't used it in over a year and a half, which I guess is understandable from their perspective but it still sucks. Makes it hard to count on these products for emergencies.
@@jat-justamaturetech-philpj8285 I didn't notice any negative effects, and I check my credit pretty frequently. However I only had this account for a few months and used it only once, so maybe that is why.
It’ll show as a personal loan, your credit gets hit hard by the way. Mine dropped 32 points after my first month of usage, only used it for gas once a week.
I got it used it to buy a 40 dollar purchase on Amazon my bill was 1.97 to pay back I payed 30 an my usable credit went back up 30 bucks so maybe this is a revolving credit haven’t had it long enough to report yet I’ll update if it reports
I have two of their cards and love them. They gave me a $3,000 limit on the first card and two months later they gave me $15,000 on their Bitcoin Rewards card. I paid off the $3,000 debt by combining it into the $15,000 card. After speaking with customer service I found out that they will allow you up to 3 personal loans and 2 credit cards at any one time. I don't know anyone who is that generous in granting credit. The best part is that if you consolidate your other credit cards onto the Upgrade card, it instantly hides your credit card utilization because it reports as an installment loan instead of credit card debt, which will rapidly increase your credit scores. Don't sleep on this card!
Lol of course they will give you as much credit cards as they can! That is how they make money 💰 🤑 If you really want to mess with them, pay all your debts and don't use the cards again. Then they will really be mad.
What is your opinion on this I was thinking of getting this card to help pay off my closing cost for my new home and make it a 12 month loan since it allows me to draw money from my card without paying any fees I thought this would be a great way to pay off the closing cost
The problem, each month you have new purchases you get a new loan. Thus, the payments are stacked! so if you use the card each month for 6 months in a year your payment will be the minimum of each month added together... So you can easily have a $450 monthly payment.
I have the Upgrade Visa. I pay it off in full every month and have never been charged any interest. Plus I get 2.2% cash back on everything. I don’t see the problem. Also the info in this video is very outdated and should be updated
Maybe you haven't been charged interest because your balance for a month is totaled and then turned into a personal loan. If you are paying prior to that transition, there is no interest. Also, there are about 5 different Upgrade cards. Older videos are rarely updated here. There's more to a video than we see. I hate the ones with there's a mobile home for sale 12 years ago, or that new model of jacket that just came out 15 years ago and can only be found in a thrift store now. The guy making the video admitted he did not have a card, so he would most likely have only general information, which was informative. He would not have personal knowledge of the payment schedule, so given that, he did a good job telling us what we could have found out on our own. I think most posts should have some kind of automatic delete after a more than reasonable time, if for no other reason than you stated; things do go out of date. Then TH-cam could give that channel owner the option of renewing the video if it is still relevant and if the channel owner is still active.
Thanks, and get this. I'm shopping for a motorcycle and seeing videos on to finance, or not to and why. I'm seeing only a couple years on some of them and they're talking interest rates of less than 7%. Boy, I wish those were real now! Unfortunately, interest rates went up 8 times since then, or was it 9. That's the only reason I even heard of Upgrade, but I did quite a bit of research on them. I heard one person said they were charged a "loan origination" fee, but didn't say how much they borrowed. Since this isn't a news outlet (and those are hard to find), we just take what info we get and make the best choice we can. Btw, you made the best ballot decision possible. @@LessThree
I was approved for $10k no problems. They did not ask for any sort of income verification. I'm just keeping it as a backup since I work on commission. Rate was a bit high, 20.99. My score is around 675
Support our channel by choosing your next credit card using one of the card links at:
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NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
ProudMoney - Credit Cards & Personal Finance I like your channel because you always talk about small banks 3rd banks and not common cards products , unlike many other channel only talk about chase AMEX all day which we all knew already. Plz keep it up and bring us more cards products from smaller banks . This is what we want thank you so much
Do the pre-approval. Then freeze your TransUnion and accept the offer. Leave credit frozen for about 30 days. No hard pull.
It's simple don't use it as a credit card use it as access to liquidity if you need it. Without getting dinged from hard inquiries every time you needed to borrow cash
I was pre approved for a 3,000 credit limit but when I found out they don’t apply that credit limit to my credit utilization which is exactly what I wanted I bowed out.
Good Info to Know Kim, I was wondering the same thing. :)
What do you mean
@@mantiscity Meaning the credit they give you is not going to show up on your credit report as useable credit limit on your utilization , so if you have $5K in Credit card charges and you have a Credit card w/ only $5 K limit then you are at 100% utilization. if you got a $10K loan from them, it would not show up on your report saying that you used 50% utilization of the $10K ( which would be the 5K) .. so it is pointless to get this loan. unless you need it
@@wandayoung5904 I understand now. Thank you.
But isn't that also a good thing?
Now your utilization if over 30% won't be reported as using too much, right??
Glad I decided to look this up. I was concerned when I saw no grace period. I'll pass on the 29% interest rate
I was thinking the same thing
I Like this channel because you always show us different kind of cards products 3rd banks small banks products !!! Unlike other channel only talk about chase AMEX all day so boring
seems like a great card for new homeowners for the unexpected major expense or improvement. I used the heck out of Blispay for my camp until they went under... Did I do that? Anyway, 6.49%/20K is a good backup. I'll give it a try.
I was approved with a 652 credit score and 2 months after the discharge of my chapter 7 bankruptcy. I was approved for 3000 @ 29.94%. I accepted and only took out 1600 which equates to 68 dollars a month payment for 36 months. I'm ok with that. It will be reported on my credit report and will help me rebuild my credit.
You’re okay with paying $848 extra? Wow!!!
@@davidbruce5273 paid it off early.
30% here with about same credit score.. and no bankruptcy. Crazy. I didn't get one.
@@unknown36187 I thought they charged you the interest from the beginning? So did you not end up paying $2448 anyway? From what I understood there’s no benefit of paying it off early since the interest is already factored in.
@@Biggiemarvs they only charge you interest if name a purchase. It isn't like the Credit One cards where you start accruing interest immediately.
Thank you, I was a banker for over 10 years. That being said, I appreciate the explanation--well done!
I was approved for only $500 but I can’t blame them.
Oh damn! This credit card has a lot of issues. First of all, it's a combination between a loan and a credit card, and it constantly messed up my balance, so I decided to close the accounts. The first time I called in to close my account, the agent from the other side told me that I was still eligible for a $400 reward with 3 debit card transactions, although I told him specifically that I was not because it was over 60 days since my account opening, which did not meet the time restriction of the promotion. The second time I called in, another agent confirmed my thoughts (damn!), but when I requested to close my account, he just pretended not to understand what I said by deflecting the topic saying that I had zero balance so no need to close and something like that. I was pretty upset so I raised my voice, and eventually he reluctantly announced the disclosure and claimed to close my account in 30 days. Do avoid this card, their business and customer services are practically jokes.
I personally pay off my balance monthly ((BUT)) I like this upgrade car idea !!!!! I will apply it , this work like a Personal Line Of Credit to me ! Sit there just Incase if I need cash Loan and is ready for me anytime without apply it at the time I need it.
I got approved for 20,000. I believe my interest rate is right under %15. My credit score is Less than 700 credit score but zero hard inquiries. Should have my card this week
Congratulations! Let us know how it goes!
So it's a combination of "inquiries" and credit score. Thank you this is exactly what I needed to know.
You hade to send a picture of id?
Give us the one yr update.. was it a good choice.
So how was the card??
Interesting product. Sounds like a modified version of the "Pay Over Time" feature that American Express has been adding to the Gold and Platinum cards.
Yes, we are seeing more and more of this from the other credit card companies.
Run for your life. Stay the hell away from Upgrade. It’s a downgrade
Sounds like it.
😂😂😂
Approved for 1000....as I paid the bill they reduced the authorized amount by the payment amount
Lmaooo thats a slap in the face for someone with good credit 800 and still get denied
No it isn’t pause the video and look at his history on the report, you can have a good score but your credit history can be trash
There are FANTASTIC rewards now, need an update for the upgrade card, it’s been great over the last couple years!
Great info thanks for helping me make a decision that this is definitely not a great option for me.
Question: let’s say they give you a limit of $1,000, does that reflect on your credit card utilization? As in let’s say you had one other credit card @ $1,000 and this one, would you have $2,000 in credit and a balance of $600 would show as 30% utilization or would it show as 60% utilization?
My second Question is.. could this be wise to have if you wanted it for emergencies? As in, you don’t use it unless an emergency comes up, then instead of needing a loan and going through the process, you already have those funds there as you need it?
Good questions, I'd like to know also. What are the chances he's monitoring these comments? Maybe he'll answer now.
It does not.
I'm literally using this to up my availability to cash on my credit report. That is all. Might not even use the damn thing.
Does it count towards your credit card utilization?
Does not effect available credit until you use it.
@@jaybrown69 It does not.
They just approved me for $8500. I am down with it.
Congrats that's a nice grip. I think the card is pretty dope myself. It only reports as an installment loan on your credit report but if gives you access to some cold cash when you need it on tap.
This is actually a pretty cool idea
Would it build my credit if I just didn’t use It? Like maybe just to add to my credit lines
Looks like a pass for me
Too confusing not worth any bonus
But do you have to have a loan first with them? Like a credit line first approved? Or you can use it right away and what you use gets turned into a loan? It's confusing. Cause after I applied, said approved, then they sent the card, now want all kinds of my financial documents and account numbers, but I said I don't want a loan, does that mean I can't use the card??
"After carefully reviewing your application..." How can it be called careful, when a computation machine calculates it? That is funny that it is listed twice. Sounds like they give you a debt card linked to line of credit (account). Is the payments only from a bank account Adam? If so don't most credit cards balance transfers go though a checks still (due to credit industry not always wanting you to transfer balances away) on the back end of a balance transfer? That would be interesting (uh oh, a bit of a pun) to know, especially the first and last questions.
In their disclosure it does say they have the right to soft pull you on any any all balance transfers to this card
Are the rules for credit utilization still the same here as for other cards? Asking since it's more like a loan
No it’s not the same, they don’t add what they approve you for towards your credit utilization which sucks because that was the reason I applied for it, so I denied the approval.
Is this like the Oportun Visa credit card? I just got approved for it yesterday and waiting for the card but they didn't give me much info including the amount I was approved for.
So if I get approved and take in this card but decide not to use it at all will I still be required to make a monthly payment because I'm still "borrowing" the money?
Yup I think so
Need answers
I started the application sounded confusing I did not compete application
@@350zLeMans I passed it up too best thing to do is to just pay things off slowly budget and get a secure credit card with a credit union play it safe and build gotta play the credit game …
@@350zLeMans same here
Could be good for buying inventory for business ?
Yes it gives that cold hard cash 💸 on tap
Thank you got it..Don't want it
Lol. Forreals
The people with bad credit or low credit scores pay high interest all the time. Seems like a burden to poor people which I never understood. Credit companies should issue the same interest rate to all! Why should poor people be hit with high interest rates when they are trying to improve their credit rating and lives? Horrible!
the rich live like their poor
THE POOR LIVE LIKE THEIR RICH
Because they are a great liability to loan to, same as a lower credit score. Greater liability to the lender
Credit companies can't issue the same interest rate to all. That would be nice but it's just not realistic. Lenders need to be able to determine if they are going to get their money back or not. The only way to know this (to some degree) is to check someone's previous credit history. Those who are seen as "high risk" have to pay more. Unfortunately people with bad credit end up paying much more for the same items than those with good credit. I know it doesn't seem fair but this is why credit scores exist.
Hello! There is a small fee to withdraw money from the card/personal loan.
NEVER USE UPGRADE CARD ITS A SCAM THEY WANT TO PROFIT CASH FROM YOU
Thanks for the info, clarified a few things for me.
They make it very hard for you to pay it off!!! You have to call them and they put you in a 10 min hold, thus pushing you to give up.
Wait it out and pay it off. Sounds like some people make too many silly excuses
@@rmaria2254 Well, why would you prefer to pay interest on a balance you are able to pay in full? Like, seriously?!
Just pay it online
@@ygbodybuilder3023 you can’t
@@isabeld.a.588 since when I do it all the time
So if you use the card and pay it off early, then use it again etc... will it report as Multiple Loans ? And if so would that lower your score?
my understanding is that you don't really have the option to pay multiple times within a month.
@@ProudMoney I didn't mean paying multiple times within a month. If you pay the card off 1 month and use it the next month and pay it off again is that considered/reported as 2 separate personal loans? & if so would that lower your score over time?
i am honestly not 100% sure, but i think that it would not be reported as multiple loans. my understanding is that the card is considered a credit line and as long you are making the required payments, it is reported as payments on that single credit line. any particular "loan" that you are paying against is just a slice of that credit line.
Marvin M. Actually I saw the company said “Prepay any amount at any time with no penalty” so that mean we can pay multiple times with any amount we want (higher than fixed amount) but unsure they will post new tradeline Loan on our report for each new paid off and new balance begin , but I personally doubt it . I believed this will be report as credit limit like normal cards accounts tradeline
@@Diamond_Hands_007 you're right I just called them they said it does report as a revolving line of credit. They may verify income after applying.
can apply for more than one upgrade card? i want the bitcoin and the triple cash cards
i got denied with a 774 score and it was because lack of instalmentloan history.... pretty trash card just wanted to see what i would get approved for lol
It's not for people with good credit. It's for dumb broke folks to keep them in debt.
so can you make monthly payments on this card?
Hi. I'm looking to pay off 5 credit cards. How can I do this with this card??
Also Upgrade sent me a offer for a personal loan of 10k. Which one should I apply for??
And do I have a choice to see the limit before I agree and how?? Thanks
Yes you can see the limit beforehand
Having trouble adding my bank account to upgrade
What if you didn't use the card at all? Would it report positively to the credit bureaus??
Im here to ask that question
I have the upgrade card and haven’t used it at all for months now and nothing shows up on credit reports. It’s when you use it then a installment loan will pop up on your report.
This card sucks, you pay interest no matter what. Subprime garbage card.
For people building credit though this is a good option because it doesn't have a yearly fee to have the card like most cards
You don't pay interest until you actually use it, and only on the amount you use.
I'm thinking about getting it just to increase my credit line. They are generous with the limits. And if I ever need cash, it's there waiting for me to use it with no cash advance fee, and no extra high interest like on regular credit card.
This would be a good card for doing flips, buy and resell stuff, watches, phones, computers, cars, motorcycles, etc.
I hear conflicting information on whether it is a revolving line of credit, or an installment loan. The people saying that it is only an installment loan don't actually own the card. The one guy I heard that actually owns the card, says it does actually replenish when you pay portions of it off.
If you got approved, would you have gotten the card?
absolutely not
Are there any documentation requirements?
Yes
821 credit history 😳 and still got turned down wow....
Impossible mines 689 and I have this stupid card
Does this Upgrade Card Lower My Credit Card Utilization Rate??
Paul Maul Nope
any update on the vitalcard?
too much fluff. get with important parts then scenarios.
5:12 your welcome
there is no fluff, all super important content designed to ultimately make you superhuman
They are sccammer
Not their not. They are 100% legit, I've been using my card over a year now and love it. Nice to have some cold hard cash on tap when you need it and pay it back without any strain. And then it replenishes all over again.
This info is definitely outdated. Please redo the video. Thanks
How so??? may you please let us know what is different. Not sure to get this card or not.
@@truestoryyo2717 it offers $400 bonus and cash back.
@@Boricua-tn7ve OH I see. Hey thank you for the info. I'll check it out then.
Yes you get a bonus 400 after 3 transaction. You get 2.2% back after you pay off they balance that month. You have a time limit as a loan of maybe 36 months or more. So yes it is a hybrid loan/credit card. They loan you the amount and you have 36 months to pay everything back. You need to reapply after 36 months. To get another "loan"
@@Skulltones Just got approved for 2,000 my and my TransUnion is at 638, but if I use the whole 2,000 how much would the payments be tho??? and just got off the phone with them. The gentleman confirmed it is NOT revolving. If I use 200 bucks and pay it off then It does not go back in and equal 2,000 again. 😏 and with that, now I don't exactly see the point of this card loan thingy. oh well. Or you think it is still good to have????
The reason you have a lot of credit inquiries, is because there is no such thing as a "soft" pull.
What do you mean? There definitely is something called a soft pull
There is definitely a such thing as a soft pull. Are you serious? Lol...soft pulls do not show up on your report. only you can see your soft pull through certain apps when you are checking your "own" credit. Creditors cannot see soft pulls when they pull your credit.
@@markjones5757 soft pulls aren't being pulled from the 3 major bureaus.. 😅😅
this is a horrible product
For you. You mean. Mobil ONE isnt recommended for a cocktail but its kept my catarpillar king of the left lane for 700k an climing. The gentleman two comments above you is also claiming victim or crushed entitlement. Idk..hard to say....I howeve;, well think ignorance is a choice, and personally if I was only "pre approved" for only 3500 on an open ended line of credit with more than 2 hard hits in 12 months, available credit line under $5k and revolving credit above 18% and a credit score under 680, I wouldnt even consider this as an option...but some of us have found excellent uses and benefits from this. Your welcome.
Scam
An obscure card pops up on the radar, Adam will find, research, and discuss. And I am here for it.
Well explained, i was about to sing up. They almost got me .Thank you .
thank you. i was trying to understand what this card does.
That’s the part I was waiting for. Basically, they’ve constructed this card in a way that GUARANTEES interest. I only was interested because they offered a $400 sign on as long as the account was in good standing within like 3 months I think, but that’s not worth the hassle of paying interest to then never use this scam card again.
I wish I saw this video before obtaining that upgrade card SMH!
Watching this helped me decide to NOT apply for this card😏
I got it it’s really good just don’t go crazy with it
Me too!
I pulled back when they need my bank info seemed like a scam.
It's not a scam, they try to set you up with auto pay but it's optional afterwards. I've had my card for a year. I think it's a great card when you need to get your hands on some cold cash. You can use as little as as much as you want. And when you pay it off your credit line will replenish.
WOW! I just got this offer in the mail today. Thank you for explaining it. I gotta pass on this one!!!
upgrade just cancelled my upgrade card due to my credit score dropped. I will be paying off my balance with in this year, They are the worst
This would be a nice option to have for emergencies or large expenses, but I wonder if they close your account if you don't use it often enough life many credit cards do. I don't like the pressure to "use it or lose it" that a lot of cards have. I recently had one of my accounts closed without warning because I hadn't used it in over a year and a half, which I guess is understandable from their perspective but it still sucks. Makes it hard to count on these products for emergencies.
I’m interested in this option as well
Because they closed your account, did that effect a negative on your credit score??
@@jat-justamaturetech-philpj8285 I didn't notice any negative effects, and I check my credit pretty frequently. However I only had this account for a few months and used it only once, so maybe that is why.
Sounds confusing and problematic
Is it reported to the credit bureaus as a credit card or a loan?
Will you do a review on the Upgrade Visa Bitcoin card?
It’ll show as a personal loan, your credit gets hit hard by the way.
Mine dropped 32 points after my first month of usage, only used it for gas once a week.
@@samuelortega6030 just cancelled mine today, my score dropped 82 points.
Always use less that 30% u should be fine plus u can always pay it off at leisure
This was soo helpful ty so. You saved me from making a mistake. Ty soo much
Cancelled mine today, $0 balance after I paid off my balance, Transunion score dropped -82 points, literally overnight.
Oh my goodness that's such a huge drop
Its often refered to as a hybrid card, but how is the basic Upgrade Card actually categorized by the credit bureaus? Installment or Revolving?
Installment loan
I got it used it to buy a 40 dollar purchase on Amazon my bill was 1.97 to pay back I payed 30 an my usable credit went back up 30 bucks so maybe this is a revolving credit haven’t had it long enough to report yet I’ll update if it reports
Jason any feedback after 5 months on it
@@joshuacripe1514 yeah reports to all 3 an is basically a revolving line of credit so I have a 10k credit card pretty much no issues whatsoever
Thanks Jason !!
@@Jelliott424 do you recommend it
I was approved for $18.5K credit score of 700 my highest card is literally $18.5k so it matched my highest limit
What all did they ask you for ? Well what was the process if you don’t mind to explain
@@tayadams7639 salary ,social address , job title . Soft pull at first with a estimate limit then if you agree they do a hard pull
@@est94 Thank for the info! Anything strange with the loan after it was disbursed to you?
@@boxball9157 I haven’t actually used the loan yet
I have two of their cards and love them. They gave me a $3,000 limit on the first card and two months later they gave me $15,000 on their Bitcoin Rewards card. I paid off the $3,000 debt by combining it into the $15,000 card. After speaking with customer service I found out that they will allow you up to 3 personal loans and 2 credit cards at any one time. I don't know anyone who is that generous in granting credit. The best part is that if you consolidate your other credit cards onto the Upgrade card, it instantly hides your credit card utilization because it reports as an installment loan instead of credit card debt, which will rapidly increase your credit scores. Don't sleep on this card!
Did they do a hard pull every time you got a newline?
Lol of course they will give you as much credit cards as they can! That is how they make money 💰 🤑
If you really want to mess with them, pay all your debts and don't use the cards again. Then they will really be mad.
Nice! I think the card is pretty awesome myself.
Their interest is insane. I have never used the card they sent me and I don't ever plan to.
What is your opinion on this I was thinking of getting this card to help pay off my closing cost for my new home and make it a 12 month loan since it allows me to draw money from my card without paying any fees I thought this would be a great way to pay off the closing cost
Everyone situation different like relationship 😜
Been on hold with them for 1hour and 3 minutes so far........trying to reach customer service
I was thinking about getting this card to pay off debt. But I’m good 🙄
Lol
So it's like a loan but with a card attached?
Looks like it
honestly, the Upgrade card seems better than taking out a Citi Flex Loan.
I got approved for it decided not to complete application, it's more of a loan not a credit card it's confusing marketing , not for me
So it’s not a credit card? No thanks.
The problem, each month you have new purchases you get a new loan. Thus, the payments are stacked! so if you use the card each month for 6 months in a year your payment will be the minimum of each month added together... So you can easily have a $450 monthly payment.
Why is this card a good idea?
it's not a good idea and not worth it, go get regular bank loan
@@melissadenbo2461 exactly
Thank you for explaining this. I’ll pass on this!
It's a personal loan with a high credit card like apr.
Not if u pay the full balance
@@ygbodybuilder3023 you pay interest regardless. It’s built into the loan.
@@koolmo2585 you only pay if you use it. If you don't use it, it doesn't accrue interest
@@KingTriton1837 hmmm
I have the Upgrade Visa. I pay it off in full every month and have never been charged any interest. Plus I get 2.2% cash back on everything. I don’t see the problem. Also the info in this video is very outdated and should be updated
Maybe you haven't been charged interest because your balance for a month is totaled and then turned into a personal loan. If you are paying prior to that transition, there is no interest. Also, there are about 5 different Upgrade cards. Older videos are rarely updated here. There's more to a video than we see. I hate the ones with there's a mobile home for sale 12 years ago, or that new model of jacket that just came out 15 years ago and can only be found in a thrift store now.
The guy making the video admitted he did not have a card, so he would most likely have only general information, which was informative. He would not have personal knowledge of the payment schedule, so given that, he did a good job telling us what we could have found out on our own.
I think most posts should have some kind of automatic delete after a more than reasonable time, if for no other reason than you stated; things do go out of date. Then TH-cam could give that channel owner the option of renewing the video if it is still relevant and if the channel owner is still active.
@@floridaredneck all good points and a good idea. Thanks!
Thanks, and get this. I'm shopping for a motorcycle and seeing videos on to finance, or not to and why. I'm seeing only a couple years on some of them and they're talking interest rates of less than 7%. Boy, I wish those were real now! Unfortunately, interest rates went up 8 times since then, or was it 9. That's the only reason I even heard of Upgrade, but I did quite a bit of research on them. I heard one person said they were charged a "loan origination" fee, but didn't say how much they borrowed. Since this isn't a news outlet (and those are hard to find), we just take what info we get and make the best choice we can. Btw, you made the best ballot decision possible. @@LessThree
DOWNGRADE
So than why would someone need this card than?? Are you not allowed to make more purchases after the loan starts?? Or does it extend the loan payoff??
Thank you for making this video
Thank you so much for explaining this to me. I had already got the card but misunderstood the hybrid concept. You rock.
Just recently got this card. 2.5% cashback, $400 bonus for opening up a upgrade rewards checking and making 3 purchases within 60 days of opening.
what type of purchases did you make to get the $400 bonus? Thanks
What did they ask for the application? I heard some people had a bad experience of them over verifying a lot of things
@@mackrveli like wawa purchases and gas
@@zrnnn current checking account details they want to see activity
The comeback card is the best credit card on the market.
So does the amount on this card count towards the amount of credit you have or is it considered a loan still?
I was approved for $10k no problems. They did not ask for any sort of income verification. I'm just keeping it as a backup since I work on commission. Rate was a bit high, 20.99. My score is around 675
Is it still working out?
How does it show up on your credit report as a loan or credit cars?
Thank you...for this review
Does this card count towards Chase 5 24 rule?
Its okay adam i got rejected too Mine was too many hard inquiries and new credit lines on my report
How many inquiries?
I have 2.