It’s a great product for somebody who spends money in one of the three categories often and will pay it off as a credit card instead of a personal loan. Meaning will pay off the whole bill every month.
I HATE this card. I haven't made a charge in almost a year and the payments are still astronomical. There is no way to target individual loans to bring the monthly payment amount down faster. There are hundreds of better options. Avoid this one.
RJ, These cards are good cards the triple cash is good rewards on categories that we don't see. If this is secured card better to go over to us bank and get the cash plus card for 5x on two categories. Big fan of the back account they have though and the referrals are sweet 100 bucks. I would rather get 1k of free money from them interest free then pay them the 1k bucks. Hehe. Appreciate the content and videos man.
Triple cash is the winner. I'd rather it be a straight credit card setup tho. I forgot that as a part of the $400 bonus I ended up with the regular card and a $24k CL.... never even activated the card.
Wow! I just got my $400 bonus today! When I applied last March 8, I was not very positive to get $400 but I thought it’s worth a try. Deposited $50, did 3 small purchases and boom! $400! The easiest bonus I earned so far. They even paid out right away!
@@JBG26 in the terms and conditions it mentioned there is ‘closing penalty’. Somebody I watched said after she withdrew the bonus, she left it open with 50 cents in it and planned to close it after a year. Maybe that’s what I will do.
I got picked up by a stoner through Lyft in Waikiki today. Friendly guy, but he only wanted to talk about pot and a local fried chicken chain that he had the cravings for. Maybe time for Triple Cash to add Weed dispensaries and Fast Food as a 4th category, or an all new Green Upgrade Rewards Card.
I liked their checking bonus. That's how I found out about the cards. Technically i have one from the $400 bonus that I forgot about. Never activated the card
My question on your comment at about 2:53 is the advantage of paying the Upgrade loan in 2 yrs vs the credit card in 28 yrs is that it's true you would save money by paying off early But from Upgrade's perspective with their comparatively exorbitant interest rates at 26.99% they make more profit from 10 of these 2 year short term loans than one loan for 20 years at a lower interest rate.
The pitch is that Upgrade turns the balance into a personal loan. With a personal loan product you can't continue to get by only paying the minimums and adding to the balance the way you could with a CC. So technically they are correct. However the way I see the product is you could keep using the card and end up with multiple personal loans, which is kinda the same thing as a credit card balance in the end... yes one has fixed interest but it's not that much more helpful if your someone to go into card debt.
Triple Cash pays #% on Home, Auto & Health based on the merchant's industry category which is important. Example: my dentist group is set up as "professional services" instead of 'dentist" so I don't get 3% cash back. Those knuckleheads! There's no grace period since the Visa card is attached to a line of credit.
I have one of these cards. I got it as part of a checking account bonus they did. Never activated the card but it does not show up on my revolving lines with my other CC's
It's shown as a line of credit. No effect on utilization. Also, as a LOC no grace period from accruing interest. Understand, you cannot avoid paying interest on a LOC.
@@RJFinancial Hello. I'm considering getting it for the bonus. We're you able to receive the bonus even though you did not activate the card? Thanks RJ
@@danielgtr85 My bonus was going after a checking account. At the time they made you open one of these, then the checking account to get $400. th-cam.com/video/OfO_fFSCxHY/w-d-xo.html
@@RJFinancial thanks for the response RJ. Right now I see an offer for $500. Don't really have a use for the line of credit or the checking account, but the cash looks attractive. It can also increase my credit mix since I haven't had any loans. Hmm
@@RJFinancial I just applied yesterday for the $400 bonus but after reading reviews and seeing the almost 900 complaints on BBB I emailed Upgrade to Stop the application process. There were complaints about not receiving the bonus, confusing and deceptive practices, difficulty in prepaying charges to avoid interest and many others. Have you experienced any problems with Upgrade? I had planned on not using the "credit card" but I was going to do the 3 debit transactions on the checking account to qualify for the $400 bonus. One of the 3 Upgrade reps I talked to said all you had to do was buy 3 candy bars on separate transactions to qualify for the bonus, All the reps made assurances to my concerns that turned out to be issues in the complaint reviews...Upgrade has Great Marketing but as far as I can tell poor and deceptive service.
@@ICSpotz I take it you never got the $400 bonus, i've read other reviews claiming they got the $400 bonus by simply making 3 small purchases ?? I don't trust all customer reviews, think I'll pass.
Do not sign up for Upgrade. They do not report your credit limit to any of the bureaus. This lowers your score by not showing your full credit amount. Please, you are wasting your time.
@@Topself24 that’s what I was supposed to do but after I signed up, it wants me to link my bank account where they will put the money and where the can pull the payment so I stopped and was scared I was getting scammed. I thought it’s just a checking account and credit card but it’s different so now I’m confused.
The interest rates are so high on this card that I just can't get the balance paid down. They find a way to apply my entire payment to the interest and nothing to the principle. I made a $200 payment and they applied $185 to interest. They are preying on people. They are also a part of the SVB WOKE banking system that went under. They are charging me 59% interest on a $3,000 card. Beware of this card and any of their products.
They apparently will lower your credit limit to whatever your current balance is without notice eventhough you have never missed a payment on the account AND haven't missed a payment on any account for over 6 years. Once I pay this off they will lose my business forever.
That is interesting. They gave me $24k CL at open (with the bank bonus promotion) Never activated the card... there are better options out there for you to move on to
Very interesting product. It’s definitely going to be something that provides a lot of value to someone looking to build credit in an alternative fashion. Love seeing new products that attempt to benefit us consumers! Great breakdown RJ.
Saw they had cards when I did the bank bonus on the other channel. Not for me and they could explain it better but there's a few uses cases for these I suppose.
@@RJFinancial Yeah it’s definitely not something I’ll be using, but I guess if you already banked with them and wanted to build credit with their products it would work well for you.
It definitely is NOT a benefit to consumers. It almost cost me buying a house because how lousy it is structured. It's the only card I absolutely regret. Can't wait to cancel.
Biggest thing is with Upgrade there is no grace period and you start accumulating interest from day 1. Card can be helpful for people who take out personal loans more often than not. There's a $400 bonus floating around as well so I'm leaning towards eventually applying for this card
Upgrade has a few additional "secret" cards they offer and I was targeted for one on credit karma with a flat 2.2% back and with an "earlypay" feature allowing full use like a normal credit card while paying no interest (albeit with a shorter grace period). Been using it a few months and....no catches so far...loving it!
@Blake D I have just received the same one along with the debit card. I am thinking about just getting my bonus and never activating the credit card( I am tempted to ). Yours is the only positive comment I see on the Internet. What I am really concerned about is negative impact on my credit score as they report it in some weird way. Is that true?
Also, I already have credit card with 2 percent flat Cashback . I'm still tempted to have extra 0.2% with this one . However, it seems the 2.2% Cashback is taxable as it won't count as rebate like regular credit card rewards which are tax free. In that case, I am better off with tax free 2% Cashback rather than taxable 2.2% :)
@varun patwardhan hmm. I haven't seen as to the taxability yet. This is my first year still but to date haven't received any tax docs from them...will have to ask my accountant. As to the reporting, it does report differently, as a 0 month term $0/mo payment personal Line of Credit. The highest balance and monthly payments and balances report accurately but the limit is not reported. For me, having only ever used
Funny you mention that. I got an email from them today asking me to switch to the triple cash. I ended up with the regular card from a bank bonus i did with them awhile back. I think I saw a bonus on the crypto card but nothing for the others sadly.
@@DugrozReports Yes, if your doc's merchant category is one of those listed in Upgrade's medical categories. Also includes drug stores. Unfortunately for my my dentist group chose to be "profession services" rather than "dentist" so I miss out on the 3% cash back. 🤬
You want a balance transfer card. There are cards that offer an intro 0% Intro APR for the first 20 ish months on balance transfers and purchases. Have to make sure to pay it off before the into period ends. Look at the First Tech Credit union cards. They are one of the few that offer a 0% balance transfer fee. Usually around 3% Balance transfers: th-cam.com/video/f5mwF3E3QsY/w-d-xo.html First tech: th-cam.com/video/fgQtUkHEmCc/w-d-xo.html
Since considered a checking account credit card if over limit can charge a over limit fee something that congress made illegal on regular credit cards I believe. Also to get a card they ask for your bank routing number when you apply with so much fraud seems dangerous.I am guessing from comments if fine with those two things probably a good offer.
I have one of these but it was from a bank bonus i was doing, Never activated the card so I'm not sure. Sorry, I'd call them and have them explain the user interface
@@RJFinancial Yep, finally got them on the line & they said that info is not available to me (yet it is to them) & because records are kept for them by a 3rd party, they cannot give me access to any records beyond this year's transactions. However, I did inform them that that's a violation of Federal law. Truth in lending says I must be informed of what I'm paying for & how much I'm being charged; so yeah, this whole situation got pretty ugly, pretty quick. Still working on it...
I found them from the other channel where they have a good checking bonus going. I think they've been making a push on all fronts. I wanted to like the triple cash but I agree with you, not for me either.
If it's this or be stranded then sure, it's better than nothing. My complaint with them is more so around how it's marketed. It's confusing to people what and how it works.
I've had Upgrade for several months. It's a personal line of credit that's accessible by a credit card or funds transfer. Each month's activity becomes a draw that's repayable in 24 equal monthly installments which I think is good. Fun transfers have been a one day transaction. I don't use it like a credit card but as a line of credit and access the funds as needed. No utilization amount on your credit report because it's a LOC. It hasn't reported to credit bureaus regularly in my case. All in all I like this LOC although I believe customer service is lacking.
@@RJFinancial Oh yeah, Upgrade definitely promotes themselves as a credit card. I can only imagine what a statement looks like with constant activity reflecting s multiple draw amounts. However, The monthly minimum is prorated across all draws respectively.
Thank you for sharing this. I had considered them when rebuilding but was so confused how it worked. I want to add a few LOCs so i may consider them in the future
How did the Upgrade account report to your credit reports after you used the account? You mentioned it did not report on a regular basis. Can you explain a little more ?
@@daniel.8426 Reports as a line of credit with no utilization rate. Although it doesn't report regularly, when it does it reflects balances for each month of history. Additionally, I recently applied for another card and was approved. However, with interest rates increasing it's not attractive because there's no way to get around paying interest on a line of credit. Interest starts accruing the day after the draw unlike having a grace period on an actual credit card.
Thanks for tuning in! Upgrade is still good for something... get a $100 bank account bonus from there fee - th-cam.com/video/OfO_fFSCxHY/w-d-xo.html
It’s a great product for somebody who spends money in one of the three categories often and will pay it off as a credit card instead of a personal loan. Meaning will pay off the whole bill every month.
I HATE this card. I haven't made a charge in almost a year and the payments are still astronomical. There is no way to target individual loans to bring the monthly payment amount down faster.
There are hundreds of better options. Avoid this one.
RJ,
These cards are good cards the triple cash is good rewards on categories that we don't see. If this is secured card better to go over to us bank and get the cash plus card for 5x on two categories. Big fan of the back account they have though and the referrals are sweet 100 bucks. I would rather get 1k of free money from them interest free then pay them the 1k bucks. Hehe. Appreciate the content and videos man.
Triple cash is the winner. I'd rather it be a straight credit card setup tho. I forgot that as a part of the $400 bonus I ended up with the regular card and a $24k CL.... never even activated the card.
It’s great I have it doesn’t show up as a credit card on your credit report
That's a nice touch. I'm guess because in Upgrade's eyes it's a personal line of credit more so than a card
Wow! I just got my $400 bonus today! When I applied last March 8, I was not very positive to get $400 but I thought it’s worth a try. Deposited $50, did 3 small purchases and boom! $400! The easiest bonus I earned so far. They even paid out right away!
Nice! I was concerned about this one as well but they did pay
Hi do you know Can we just cancel the Card few weeks later if we don't like it even if we got the bonus?
@@JBG26 in the terms and conditions it mentioned there is ‘closing penalty’. Somebody I watched said after she withdrew the bonus, she left it open with 50 cents in it and planned to close it after a year. Maybe that’s what I will do.
I got picked up by a stoner through Lyft in Waikiki today. Friendly guy, but he only wanted to talk about pot and a local fried chicken chain that he had the cravings for. Maybe time for Triple Cash to add Weed dispensaries and Fast Food as a 4th category, or an all new Green Upgrade Rewards Card.
Lol US Bank cash + does separate fast food from all of dining so we're getting close. I wonder how long before we see a pot focused card.
This actually reports as a loan on your personal credit report and doesn’t report and update in a timely manner . Messes up your utilization
Interesting, thanks for sharing the intel. Woulda thought they'd at least report on time.
This card is awful. It lowered my score by not showing the credit limit on any of the bureaus.
Misleading product. Shady company. Enough on that subject. Moving on...
I liked their checking bonus. That's how I found out about the cards. Technically i have one from the $400 bonus that I forgot about. Never activated the card
My question on your comment at about 2:53 is the advantage of paying the Upgrade loan in 2 yrs vs the credit card in 28 yrs is that it's true you would save money by paying off early But from Upgrade's perspective with their comparatively exorbitant interest rates at 26.99% they make more profit from 10 of these 2 year short term loans than one loan for 20 years at a lower interest rate.
The pitch is that Upgrade turns the balance into a personal loan. With a personal loan product you can't continue to get by only paying the minimums and adding to the balance the way you could with a CC. So technically they are correct. However the way I see the product is you could keep using the card and end up with multiple personal loans, which is kinda the same thing as a credit card balance in the end... yes one has fixed interest but it's not that much more helpful if your someone to go into card debt.
@@RJFinancialIf you use this like a credit card you will be looking at $1,000/month payments in no time.
The only category I have not seen elsewhere is the automotive. So do they give a grace period to pay with no interest?
Huntington biz voice card has it as a selectable category for 4x back I think. i picked that card up last week
yes with the help of a consultant i paid no interest at all
Triple Cash pays #% on Home, Auto & Health based on the merchant's industry category which is important. Example: my dentist group is set up as "professional services" instead of 'dentist" so I don't get 3% cash back. Those knuckleheads! There's no grace period since the Visa card is attached to a line of credit.
Interesting - but not for me. Thanks for the video though!
Of course, still have fun looking at smaller or new products
Their savings account earns 5.06%
5.21%
How do they report on your credit report? As revolving credit or installment loans?
I have one of these cards. I got it as part of a checking account bonus they did. Never activated the card but it does not show up on my revolving lines with my other CC's
It's shown as a line of credit. No effect on utilization. Also, as a LOC no grace period from accruing interest. Understand, you cannot avoid paying interest on a LOC.
@@RJFinancial Hello. I'm considering getting it for the bonus. We're you able to receive the bonus even though you did not activate the card? Thanks RJ
@@danielgtr85 My bonus was going after a checking account. At the time they made you open one of these, then the checking account to get $400. th-cam.com/video/OfO_fFSCxHY/w-d-xo.html
@@RJFinancial thanks for the response RJ. Right now I see an offer for $500. Don't really have a use for the line of credit or the checking account, but the cash looks attractive. It can also increase my credit mix since I haven't had any loans. Hmm
NEVER USE UPGRADE CARD ITS A SCAM THEY WANT TO PROFIT CASH FROM YOU
I opened one that was tied to a bank bonus for $400. Never activated the card tho
@@RJFinancial I just applied yesterday for the $400 bonus but after reading reviews and seeing the almost 900 complaints on BBB I emailed Upgrade to Stop the application process. There were complaints about not receiving the bonus, confusing and deceptive practices, difficulty in prepaying charges to avoid interest and many others. Have you experienced any problems with Upgrade? I had planned on not using the "credit card" but I was going to do the 3 debit transactions on the checking account to qualify for the $400 bonus. One of the 3 Upgrade reps I talked to said all you had to do was buy 3 candy bars on separate transactions to qualify for the bonus, All the reps made assurances to my concerns that turned out to be issues in the complaint reviews...Upgrade has Great Marketing but as far as I can tell poor and deceptive service.
@@ICSpotz I take it you never got the $400 bonus, i've read other reviews claiming they got the $400 bonus by simply making 3 small purchases ?? I don't trust all customer reviews, think I'll pass.
Do not sign up for Upgrade. They do not report your credit limit to any of the bureaus. This lowers your score by not showing your full credit amount. Please, you are wasting your time.
Thanks for the intel
I wanna get it for the $400 bonus. Would never really use it
@@Topself24 I did it. Never activated the card - www.profitablecontent.com/upgrade-400-checking-bonus/
@@Topself24 that’s what I was supposed to do but after I signed up, it wants me to link my bank account where they will put the money and where the can pull the payment so I stopped and was scared I was getting scammed. I thought it’s just a checking account and credit card but it’s different so now I’m confused.
That's a a damm lie they reported my balance just yesterday
The interest rates are so high on this card that I just can't get the balance paid down. They find a way to apply my entire payment to the interest and nothing to the principle. I made a $200 payment and they applied $185 to interest. They are preying on people. They are also a part of the SVB WOKE banking system that went under. They are charging me 59% interest on a $3,000 card. Beware of this card and any of their products.
They apparently will lower your credit limit to whatever your current balance is without notice eventhough you have never missed a payment on the account AND haven't missed a payment on any account for over 6 years. Once I pay this off they will lose my business forever.
That is interesting. They gave me $24k CL at open (with the bank bonus promotion) Never activated the card... there are better options out there for you to move on to
Very interesting product. It’s definitely going to be something that provides a lot of value to someone looking to build credit in an alternative fashion. Love seeing new products that attempt to benefit us consumers! Great breakdown RJ.
Saw they had cards when I did the bank bonus on the other channel. Not for me and they could explain it better but there's a few uses cases for these I suppose.
@@RJFinancial Yeah it’s definitely not something I’ll be using, but I guess if you already banked with them and wanted to build credit with their products it would work well for you.
It definitely is NOT a benefit to consumers. It almost cost me buying a house because how lousy it is structured. It's the only card I absolutely regret. Can't wait to cancel.
I have the bitcoin one. It’s junk you will start paying a little interest on the transaction with the card.
Ah, that's not awesome. Seems like if they gave people the option it would work better.
Trash. Get a regular Credit card. They are preying on people who don't have credit established.
Agree. I'd rather send someone to US Bank who has the best secured cards or capital one that's made for credit building
Biggest thing is with Upgrade there is no grace period and you start accumulating interest from day 1. Card can be helpful for people who take out personal loans more often than not. There's a $400 bonus floating around as well so I'm leaning towards eventually applying for this card
Upgrade has a few additional "secret" cards they offer and I was targeted for one on credit karma with a flat 2.2% back and with an "earlypay" feature allowing full use like a normal credit card while paying no interest (albeit with a shorter grace period). Been using it a few months and....no catches so far...loving it!
Interesting. Not sure they need to keep it a secret honestly. Would go over a lot better than the current products
@Blake D I have just received the same one along with the debit card. I am thinking about just getting my bonus and never activating the credit card( I am tempted to ). Yours is the only positive comment I see on the Internet. What I am really concerned about is negative impact on my credit score as they report it in some weird way. Is that true?
Also, I already have credit card with 2 percent flat Cashback . I'm still tempted to have extra 0.2% with this one . However, it seems the 2.2% Cashback is taxable as it won't count as rebate like regular credit card rewards which are tax free. In that case, I am better off with tax free 2% Cashback rather than taxable 2.2% :)
@varun patwardhan hmm. I haven't seen as to the taxability yet. This is my first year still but to date haven't received any tax docs from them...will have to ask my accountant. As to the reporting, it does report differently, as a 0 month term $0/mo payment personal Line of Credit. The highest balance and monthly payments and balances report accurately but the limit is not reported. For me, having only ever used
I considered the Triple Cash as an option to get 3% back on weekly doctor's appointments, but it doesn't seem worth it with no SUB.
Funny you mention that. I got an email from them today asking me to switch to the triple cash. I ended up with the regular card from a bank bonus i did with them awhile back. I think I saw a bonus on the crypto card but nothing for the others sadly.
Has it been verified that "health" includes medical appointments?
@@DugrozReports Yes, if your doc's merchant category is one of those listed in Upgrade's medical categories. Also includes drug stores. Unfortunately for my my dentist group chose to be "profession services" rather than "dentist" so I miss out on the 3% cash back. 🤬
Their $100 bank bonus is an easy way to get free money!
Lol I like the call. I pinned the link to it from my other channel for the cross sell
Now its $400
Seems like a gimmick.
I think it is. One of those "alternative" financial product type things. Tho their checking bonus was good lol
The Upgrade car CANNOT be used at an ATM.
👍 for the algorithm
Appreciate you sir
Question, would it be smart to use this card to pay off a credit card?
You want a balance transfer card. There are cards that offer an intro 0% Intro APR for the first 20 ish months on balance transfers and purchases. Have to make sure to pay it off before the into period ends. Look at the First Tech Credit union cards. They are one of the few that offer a 0% balance transfer fee. Usually around 3%
Balance transfers: th-cam.com/video/f5mwF3E3QsY/w-d-xo.html
First tech: th-cam.com/video/fgQtUkHEmCc/w-d-xo.html
Since considered a checking account credit card if over limit can charge a over limit fee something that congress made illegal on regular credit cards I believe. Also to get a card they ask for your bank routing number when you apply with so much fraud seems dangerous.I am guessing from comments if fine with those two things probably a good offer.
Haven't had any issues myself. I only used if for the promo and for the referrals
Minimum Fico Score requirements?
No idea, probably not that high
Question can you pay off the total balance
Yes, you should be able to pay in full
Great video
Thanks for review. An odd card but has utility, I need some of the Bitcoin, lol
I can see a few potential use cases for this. I feel they get a bad rap because it's not explained super well on the site.
How do you check your account balance? I see nothing on the app.
I have one of these but it was from a bank bonus i was doing, Never activated the card so I'm not sure. Sorry, I'd call them and have them explain the user interface
Too many people spend money they earned..to buy things they don't want..to impress people that they don't like. --Will Rogers.....
Well said sir
So they do a hard inquiry?
Yes, they will do a hard pull for one of these cards because it's a credit product.
Yeah, but how do you view your transactions beyond this month & last?
Not sure. I only signed up for the checking bonus so never put too much time into it. If you can go back a few years that seems like a massive miss
@@RJFinancial Yep, finally got them on the line & they said that info is not available to me (yet it is to them) & because records are kept for them by a 3rd party, they cannot give me access to any records beyond this year's transactions. However, I did inform them that that's a violation of Federal law. Truth in lending says I must be informed of what I'm paying for & how much I'm being charged; so yeah, this whole situation got pretty ugly, pretty quick. Still working on it...
I’ve been seeing these cards everywhere, thanks for the video RJ, good stuff as always, I don’t think they’re for me though.
I found them from the other channel where they have a good checking bonus going. I think they've been making a push on all fronts. I wanted to like the triple cash but I agree with you, not for me either.
I'm just curious; how do you feel about the Upgrade Card as an emergency card only?
The trapped in the dessert; card.?
If it's this or be stranded then sure, it's better than nothing. My complaint with them is more so around how it's marketed. It's confusing to people what and how it works.
Hey RJ, when are we going to upgrade our president? #MAGA2024
Ah, I feel like you used this line on the Upgrade bonus video...
@@RJFinancial i need to upgrade my puns
@@lopezzepol1 And he's back!
I've had Upgrade for several months. It's a personal line of credit that's accessible by a credit card or funds transfer. Each month's activity becomes a draw that's repayable in 24 equal monthly installments which I think is good. Fun transfers have been a one day transaction. I don't use it like a credit card but as a line of credit and access the funds as needed. No utilization amount on your credit report because it's a LOC. It hasn't reported to credit bureaus regularly in my case. All in all I like this LOC although I believe customer service is lacking.
Thanks for sharing your experiences. I think there are a few interesting use cases for this. I felt they could explain it a bit better on the site tho
@@RJFinancial Oh yeah, Upgrade definitely promotes themselves as a credit card. I can only imagine what a statement looks like with constant activity reflecting s multiple draw amounts. However, The monthly minimum is prorated across all draws respectively.
Thank you for sharing this. I had considered them when rebuilding but was so confused how it worked. I want to add a few LOCs so i may consider them in the future
How did the Upgrade account report to your credit reports after you used the account? You mentioned it did not report on a regular basis. Can you explain a little more ?
@@daniel.8426 Reports as a line of credit with no utilization rate. Although it doesn't report regularly, when it does it reflects balances for each month of history. Additionally, I recently applied for another card and was approved. However, with interest rates increasing it's not attractive because there's no way to get around paying interest on a line of credit. Interest starts accruing the day after the draw unlike having a grace period on an actual credit card.