Upgrade Rewards Checking Plus Visit Upgrade
Advantages Over Traditional Banks
The Upgrade Rewards Checking Plus account offers zero monthly fees and there’s no minimum deposit required to open an account. You also don't have to pay overdraft fees².
In addition, the Rewards Checking Plus account offers cash back on every purchase you make using your Visa debit card. You’ll receive 2% back on purchases¹ made at convenience stores, drug stores, gas stations, and restaurants. You’ll also get 2% back for many monthly subscriptions and utilities.
Upgrade now offers a high yield savings account to customers who already have a checking account. Account holders can earn 4.41% Average Percentage Yield.
The 2% cash back¹ offer is limited to $500 per year in certain categories, after which you’ll receive 1% back. All other purchases also receive 1% cash back.
A few other Upgrade Rewards Checking Plus highlights include:
- Maximize your rewards with direct deposit³
- Get paid up to 2 days early⁴
Upgrade offers a browser-based dashboard as well as mobile apps for iOS and Android to manage your Rewards Checking Plus account. The online dashboard enables you to tag transactions and automatically pay your bills online. However, it doesn’t enable you to integrate accounts from other banks, and there aren’t many tools for monitoring your spending over time.
Upgrade also has an online credit monitoring and education center. You can monitor your credit score for free and get weekly updates on any changes. You can also sign up for email alerts to find out if your score is changing and quickly identify potential fraud.
Traditional Banking Services
Upgrade offers personal loans and credit cards in addition to the Rewards Checking Plus account. Of the 5 credit cards that the company has on offer, 4 are free of annual fees; they also offer up to 3% in cash back on select purchases.
Interest Rates and Fees
Upgrade’s Rewards Checking Plus account offers cash back on debit card purchases rather than interest. You’ll earn 2% cash back¹ up to $500 per year on convenience store, drug store, gas station, restaurant, subscription, and utilities purchases. You’ll earn 1% cash back on all other purchases.
The Rewards Checking Plus account doesn’t require a minimum account balance and doesn’t charge any monthly fees. There are also no overdraft fees².
Account Fee | Minimum Balance | Overdraft Fee |
None | None | None |
Customer Service and Online Experience
Upgrade offers customer support by phone and email. You can get in touch from 5AM-7PM (PT) Monday-Friday and from 6AM-5PM Saturday-Sunday. There’s also a detailed online knowledge base where you can find out more about how to use your Rewards Checking Plus dashboard and Upgrade’s other products.
Upgrade’s online dashboard is easy to use. You can see a list of all your transactions and tag them for organization. You can also see your current cash back balance. A bill pay center enables you to set up automatic payments for utilities, credit cards, loans, and other recurring bills.
Upgrade has a 4.7-star rating on Trustpilot, with more than 25,000 reviews, and an A+ rating with the Better Business Bureau.
Mobile App
Upgrade has a free mobile app for iOS and Android devices. The mobile app offers much of the same functionality of the online dashboard, including the ability to track transactions and set up automatic bill pay. You can also lock your debit card if it’s ever lost or stolen.
The Upgrade Visa debit card is compatible with both Google Pay and Apple Pay.
Security
Upgrade secures your account with SSL and 256-bit AES encryption. The Rewards Checking Plus account is insured by the FDIC up to $250,000. You can also sign up for credit monitoring and email alerts through Upgrade to quickly detect potential fraud in your account.
Summary
Upgrade is a financial technology company that offers a checking account, personal loans, and 5 credit cards (4 of which are annual fee-free). The Upgrade Rewards Checking Plus account offers up to 2% cash back on everyday purchases¹ up to $500 per year and 1% cash back on all other purchases. There are no account fees or overdraft fees², and you’re not required to keep a minimum balance in your account. You can manage your transactions through an online dashboard or the Upgrade mobile app for iOS and Android.
Methodology
This review was created using information from the Upgrade website, Trustpilot, and the Better Business Bureau.
Upgrade Rewards Checking Plus Visit Upgrade
Disclaimer
¹ Rewards Checking Plus customers who set up monthly direct deposits of $1,000 or more earn 2% cash back on common everyday expenses at convenience stores, drugstores, restaurants and bars - including deliveries - and gas stations, as well as recurring payments on utilities and monthly subscriptions including phone, cable, TV and other streaming services, and 1% cash back on all other debit card purchases. 2% cash back is limited to $500 in rewards per calendar year; after $500, customers earn 1% cash back on all eligible debit card purchases for the remainder of the year. Rewards Checking Plus accounts with less than $1,000 in monthly direct deposits 60 days after account opening will earn 1% cash back on common everyday expenses and 0.50% cash back on all other eligible debit card purchases. Some limitations apply. Please refer to the applicable Upgrade Visa® Debit Card Agreement and Disclosures for more information.
² There are no overdraft fees or annual fees. Optional out-of-network ATM withdrawals are subject to a fee of $2.50, plus any third-party fees. Debit card transactions with merchants outside the U.S. or in a foreign currency are subject to a 3% fee. Outbound domestic wire transfers are subject to a fee of $20 after your first fee-free transfer per calendar month. Please refer to the applicable Cross River Bank Checking Deposit Account Agreement and Upgrade Visa® Debit Card Agreement and Disclosures for more information.
³ Early direct deposit requires set up of recurring electronic direct deposit from your employer, payroll, or benefits provider and is limited to direct deposits under $5000. Early access to direct deposit funds depends on the timing in which we receive notice of impending direct deposit, which is generally up to two days before the scheduled deposit date.
⁴ Active Accounts with a monthly direct deposit of $1000 are eligible for additional benefits on Rewards Checking Plus such as additional cash back rewards and more. See the Active Account page for more information.
