Upgradecard.com Reservation Number – Upgrade Card Mail Offer

www.Upgradecard.com | Apply for the Upgrade credit card gives you the opportunity to respond to Mail Offer online and get yourself approved for the best cards offered by Upgrade. Simply enter the Reservation Number (15-Digits Code) to get started.

Upgrade Inc. launched a variety of cards in 2019. The key feature of these cards is that they are a hybrid of a credit card, and then they offer the flexibility and convenience of personal loans. So, it’s a two-in-one feature that makes these cards absolutely awesome. These cards are mostly offered through the Upgrade mail offer, which means that most people receive an offer from Upgrade if they meet the minimum borrowing requirements of the company. The process of applying for the cards is also fairly easy.

Who is this card ideal for?

This card is good for anyone, but it is especially ideal for people who are looking out to build their credit, or who have a bad credit history and are trying to re-establish their credit scores.

How do these cards work?

Although they are not traditional credit cards, they can be used in stores or online shopping just like any other credit card. Basically, any place where Visa® payment is accepted. However, they cannot be used as ATM cards or for balance transfer purposes. (There is a turnaround alternative for that which we’ll discuss later)

On the other hand, whenever there is an unpaid balance, Upgrade automatically converts it into a personal loan, that the borrower has to pay off in pre-determined monthly installments. 

Just like any other personal loan, these installments are paid in equal amounts every month at a fixed interest rate.

The interesting thing here to note is that Upgrade cards offer rewards when the user makes their payments and purchases, unlike most of the other cards that offer cashback rewards only upon purchasing stuff from fixed categories.

These cashback rewards are different for all types of Upgrade cards.

According to Upgrade.com, these cards offer low costs, convenience, and predictability to the user. And rightly said so. Because they know that they have to pay a certain amount on a monthly basis, the users are mindful and are able to set a budget aside for their installments. It’s not like other credit cards where the payment is different for every month and the borrower has no idea what they will have to pay when their credit card bill comes.

So, with these factors in mind, these cards surely hold a lot of value for the users.

Card Types Offered by Upgrade:

There are mainly three types of cards that Upgrade offers:

1-     The Upgrade Visa® Cash Rewards:

This card offers 1.5% cashback on monthly payments and a credit line ranging from $500 to $25,000

2-     The Upgrade Visa® Triple Cash Rewards

This card offers unlimited 3% cashback on payments and purchases of stuff from the categories of Home, Automobiles, and Health, and 1% cashback on everything else. The credit lines range from $500 to $25,000.

3-     The Upgrade Visa® Bitcoin Rewards

This card allows 1.5% cashback in Bitcoin on payments. The credit lines range from $500 to $25,000. When the user makes payments on purchases, bitcoins will be purchased and put in a crypto wallet on the behalf of the user.

Similarities and Differences Between the Upgrade Cards

They all are more or less identical. However, the main difference lies in their rewards programs.

1Credit Lines for all these cards range from $500 to $25,000. (Though some users also qualify for credit lines up to $50,000)
2Interest rates are the same
3There is no initial fee for all of them except for the Upgrade Visa® Bitcoin Rewards, where also there is no initial fee except the bitcoin sale fee
4All these cards charge zero foreign transaction fee if they are used internationally
5For all these cards, the user becomes eligible to receive rewards not on the purchases, but on the payments that they make on a monthly basis towards their balance

As far as the differences are concerned, they lie only in the rewards programs.

The Upgrade Visa® Cash Rewards  This card offers a straightforward flat-rate cashback of 1.5% on payments.
The Upgrade Visa® Triple Cash RewardsThis card has a more layered financial structure. It offers 3% cashback on purchases in the Home, Auto, and Health categories, and 1% cashback on the purchase of everything else.  
 The Upgrade Visa® Bitcoin Rewards  This card is slightly different because it offers rewards in cryptocurrency. The user gets 1.5% cashback in the form of bitcoin. These bitcoins are purchased on the behalf of the borrower and are secured in a wallet that is provided by the bitcoin company, NYDIG. The limitations here are that these collected bitcoins cannot be transferred to a different wallet. But the user can sell them after holding them for 3 months. Upon selling the bitcoins, a 1.5% transaction fee is cut from the proceeds. Also, the seller can only receive the sale proceeds as statement credit only.


How to Apply for the Upgrade Cards through Upgrade.com?

  • As mentioned above, most people receive an invite or a pre-approved letter in their mail once they qualify for the minimum borrowing requirements of the company. This letter has a 15-digit pre-approval code in it.
  • Once someone receives an invite, they can go to upgradecard.com to check out the types of Upgrade Cards.
  • If they like it, they can click on the “Get Started” option to check their cashback credit line and rate for a particular card.
  • They will be asked to provide their basic information, including their individual and additional annual income.

So, the applicant has to understand all these things before agreeing to the Terms of Use, ESIGN Act Consent, Credit Profile Authorization, Privacy Notices and Privacy Policy, Cardholder Agreement, and for Upgrade to verify the applicant’s income.

  • Once it is all clear, the applicant can hit “Apply.”
  • The applicant can check the status of their application through the Upgrade website, and they will also receive updates via email.
  • Based on their information and the credit report that Upgrade would ask from a third party, they will receive an offer through the mail (or they may get rejected because they do not meet the minimum requirements based on the additional info that the company has obtained about them).
  • When they receive an offer from Upgrade and they accept it, this is where they will be asked for their bank information. A second soft inquiry is conducted here.

Remember that checking the rate does not mean that the applicant’s credit score will be checked too. However, it initiates a soft inquiry from the company to see if the applicant is eligible for any offers or not. This soft inquiry will not have any negative impact on the applicant’s credit score.

The second soft inquiry will also not have any negative effect on the applicant’s credit score.

However, in case a personal loan has been applied for, the loan funding procedure requires a hard inquiry on the applicant’s credit report to check whether they are creditworthy or not. And that can affect the applicant’s credit scores. This report will also be visible to other third parties.

Pros and Cons of the Upgrade Cards:

There are more benefits of the Upgrade Card in comparison to their disadvantages. Some of the pros and cons of these cards are:

 Pros  Cons
1There is no initial application fee  The offer letter only comes through the mail
2No foreign transaction fee or prepayment penaltiesOnce a month ends and the payment date arrives, there is no grace period. All the purchases start accruing interest right away if the minimum dues are not paid on time.
3Cashback rewards on all payments  No introductory zero APR.
5Stability in budgeting   
6An easier workaround to bank transfers is if the user draws all the money from their online account and deposits it in their bank account. And then use the same money to pay off their other credit card debts   
78.99% – 29.99% fixed regular APR   
8Low interest over a fixed time period   
9The Upgrade card can be added to Google Pay and Apple Pay   
10It can be used for retail or online shopping with ease, and at all contactless terminals too 

As you can see, the weightage of the pros is more in comparison to the cons. And considering all these points, the Upgrade cards surely become more valuable than other traditional credit cards.

Cardholder Benefits:

The Upgrade cards do not offer traditional cardholder benefits like security or fraud alerts.  But one of the most important benefits that a cardholder gets is the chance to qualify for an extremely low APR of 8.99%. This is almost fifty percent of the current credit card interest rate.

Here, you might think that why shouldn’t one then opt for a card that comes with zero introductory APR?

Well, the answer is a little technical. When you opt for a card for which there is no interest applied for the initial few months, you get very happy. But here comes the main point. Once this period ends, if there is any remaining balance on you, it will be subjected to the regular APR that the card comes with.

You were not paying any interest for a couple of months. Now suddenly the minimum APR will seem to be extremely high.

Now, if in case you are not able to catch up with the regular payments plus the higher interest charges, you will soon find yourself under a pile of interest that will be a hefty burden for you.

If seen through this perspective, you will clearly understand that even though we have mentioned the APR range of the Upgrade Cards in its “Cons,” it’s actually not.

Plus, the chance to qualify for the lowest APR being offered at the moment is still there, depending on your credit history and score.

Final Verdict:

If you have a hard time managing your credit card balances, then this card is for you.

If you are looking out to improve your credit score, or to rebuild your credit history, meaning that your credit score is currently on the lower side, then also this card is for you.

With its feature of putting your balance into a fixed installment plan, the Upgrade cards can lower your interest charges. Apart from this, with regular payments, you can get a chance to repay all your debt as soon as possible. It will prevent you from getting side-tracked also, so the factor of budget stability can also not be overlooked.

And then the fact that you will be receiving cashback rewards on all your payments is another plus.

With all these factors in careful consideration, our verdict is that an Upgrade Card is quite ideal for most people out there who cannot qualify for credit. Of course, if you are looking for a larger credit line or lower APR, then you have other options too. But all those options have one catch or the other. So, eventually, with a lower credit score, this card is more beneficial for you than many others out there.

Frequently Asked Questions:

Can I apply through the mail?

According to the Upgrade website, they do not accept applications via mail. They either provide an online forum for that on their website, or they suggest the interested applicant call on their phone number for further inquiries.

All the cards look the same, so how do I decide which one to get?

All the cards have different rewards programs, as explained above. Your choice will depend on the type of rewards that you are looking to redeem basically. If you are living on rent and are healthy, you know that in the near future, there won’t be any purchases related to your home, auto, or health, then you can apply for The Upgrade Visa® Cash Rewards card.

However, if you foresee some big purchases in either of these categories, then perhaps going for the Upgrade Visa® Triple Cash Rewards card is more suitable for you.

Can I get denied after receiving a pre-approval letter?

Yes, if your job situation changes or your credit score drops. Remember that a pre-approval letter is based on your basic information through your credit report. If there is some change that negatively affects your credit score, then you may no longer be eligible to qualify for the Upgrade card.

However, you can still re-apply after a month if your financial situation improves.