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Upgrade Triple Cash Rewards Card Review: A Unique Hybrid Solution
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The Upgrade Triple Cash Rewards Visa® combines the flexibility of a credit card with the predictability of a personal loan, offering 3% cash back on home, auto, and health purchases. This comprehensive review explores whether this innovative financial product could be the right fit for your wallet.
What Is the Upgrade Triple Cash Rewards Card?
The Upgrade Triple Cash Rewards Visa® is a hybrid financial product that functions as both a credit card and a personal loan. With no annual fee and a credit line up to $25,000, this card stands out for its unique approach to credit management. What makes it particularly interesting is its ability to convert purchases into fixed-rate installment loans, helping cardholders avoid the revolving debt trap common with traditional credit cards.
Upgrade Triple Cash Rewards Card Pros and Cons
Key Advantages
- Strong 3% cash back rate on home, auto, and health purchases
- No annual fee or hidden charges
- Fixed monthly payments with predictable terms
- Available to those with fair credit (FICO scores as low as 580)
- No security deposit required
- Soft credit pull for initial qualification
Notable Disadvantages
- Potentially high APR range (14.99%-29.99%)
- Limited state availability
- Cash back automatically applied to next month's balance
- Cannot be used for ATM cash advances
- Up to 3% foreign transaction fee
Who Is the Upgrade Triple Cash Rewards Card For?
This card is particularly well-suited for:
- Consumers with fair to good credit seeking to build their credit profile
- Those who prefer structured repayment plans for large purchases
- Individuals who spend significantly on home improvements, auto repairs, or healthcare
- People looking to consolidate debt with a fixed repayment schedule
- Those who want to avoid the uncertainty of revolving credit
Comparing the Upgrade Triple Cash Rewards Card
Upgrade Triple Cash Rewards vs. Traditional Credit Cards
While traditional cards like the Wells Fargo Active Cash® Card offer flat-rate rewards, the Upgrade card's unique selling point is its hybrid loan feature. This can be particularly valuable for cardholders who occasionally carry balances and want to avoid the compound interest typical of revolving credit lines.
Upgrade Triple Cash Rewards vs. Personal Loans
Compared to traditional personal loans, this card offers more flexibility with its credit line access and rewards program. However, those with excellent credit might find better interest rates through conventional personal loans.
Consider Using Kudos to Maximize Your Rewards
To get even more value from your Upgrade Triple Cash Rewards card, consider using Kudos, a free AI-powered browser extension. Kudos helps you automatically identify which credit card will earn you the most rewards for each purchase, potentially stacking additional savings on top of your card's base rewards rate.
For a limited time, new Kudos users can earn $20 back after their first eligible purchase using code "GET20". This combination of Kudos's smart recommendation engine and the Upgrade card's generous rewards categories could significantly boost your overall savings.
Our Expert Takeaway
The Upgrade Triple Cash Rewards Visa® occupies a unique niche in the credit card market. Its hybrid nature makes it an excellent choice for consumers who want to earn rewards while maintaining payment discipline. While the APR range might be high for some, the predictable payment structure and generous rewards in practical categories make it a compelling option, especially for those with fair credit.
Upgrade Triple Cash Rewards Card FAQ
What credit score do you need for the Upgrade Triple Cash Rewards card?
You need a minimum FICO score of 580, though better terms are available with higher scores.
How does the Upgrade Triple Cash Rewards card differ from traditional credit cards?
Unlike traditional cards, purchases are automatically converted into fixed-rate installment loans with set monthly payments.
Can you withdraw cash from an ATM with the Upgrade Triple Cash Rewards card?
No, this card doesn't support ATM cash advances, though you can request direct deposits to your bank account.
Where is the Upgrade Triple Cash Rewards card accepted?
It's accepted anywhere Visa cards are welcome, though it's not available to residents of CT, GA, IA, MA, WV, WI, and DC.
How are rewards distributed on the Upgrade Triple Cash Rewards card?
Cash back is automatically applied to your next month's balance rather than being available for manual redemption.
Supercharge Your Credit Cards
Experience smarter spending with Kudos and unlock more from your credit cards. Earn $20.00 when you sign up for Kudos with "GET20" and make an eligible Kudos Boost purchase.
Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
