If you struggle to pay back your credit card balance and could benefit from a more aggressive repayment strategy, the Upgrade Card could be a great choice for you.The content on this page is accurate as of the posting date; however, some of our partner offers may have expired.

You can be extended a credit line from $500 to $20,000.You have two options for taking advantage of your Upgrade Card line of credit – either making purchases on your card anywhere Visa is accepted (up to your credit line) or having funds transferred to your bank account.

At the end of any new period, purchases are lumped into a new installment plan with your current rate and terms. If you are approved, you’ll be given a default APR and installment payment term. All Rights Reserved.

Generally, not if your applications are submitted within a short timeframe.When it comes to mortgages, auto loans and student loans, credit scoring companies know that it’s smart to shop around for the best rate—so they treat multiple inquiries for the same loan during a certain window of time as just one hard inquiry. Choose it yourself, from as low as $200. Check out Keep in mind that everyone’s credit situation is different and impacted by multiple factors. However, all credit card information is presented without warranty. If you typically carry a balance on your credit cards or make just the minimum payment, the installment plan structure might be a great way to ensure a disciplined debt repayment schedule. The window varies from 14 to 45 days, depending on the credit scoring company.Applying for multiple credit cards, however, is another story. CreditCards.com does not include the entire universe of available financial or credit offers. The total amount of all active installment plan payments will be billed to you each month, and you must pay it in full by the due date.Because you make equal installment payments every month with the Upgrade Card, you’ll pay off your balance much faster than a traditional credit card.

Nerd tip: Activity on the Upgrade Card is reported to bureaus as a line of credit, but without a total credit line limit. Plus, paying off your balance sooner, may free up your Upgrade Card credit line for your next major purchase.The Upgrade Card provides users with free access to credit monitoring tools and alerts. CreditCards.com does not include the entire universe of available financial or credit offers. Plus, you’ll likely save a lot of interest along the way.The Upgrade Card is a unique product that provides a lot of potential value, but you can make the card work even better for you by following these tips.Upgrade Card is best utilized for saving interest on purchases that take a long time to pay off. Upgrade Card will report your payment history to the credit bureaus – so being responsible will also help boost your credit score. All of these features are available for absolutely no fees.To get started with the Upgrade Card, you’ll first need to apply to see your available credit line and interest rate. Source: minimum monthly payment calculator available at 3. Does applying for a credit card hurt your credit? When you click on the “Apply Now” button, you can review the credit card terms and conditions on the issuer’s web site. If you spot an unauthorized hard inquiry, you can file a dispute with the reporting bureau. CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. In fact, your credit score will usually return to its pre-inquiry level within about six months.It’s important to note that some lenders choose not to extend credit to borrowers with several recent inquiries on their report—even if their credit score looks ok. Rather than using it for day-to-day purchases you can pay off immediately, use the card for your larger purchases that need financing over an extended period.Since the Upgrade Card does not allow you to carry a balance, you should ensure you have a plan in place to make your payments on time and in full. Even better, it’s doing so with no fees.The Upgrade Card is neither a credit card nor a traditional personal loan – it is a card with a credit line that offers easy-to-use installment payment terms. What about applying for other types of loans? It has been shown that borrowers with six or more reported inquiries are up to eight times more likely to declare bankruptcy than borrowers with zero inquiries.The amount of points you’ll lose per hard inquiry isn’t set in stone; it depends on your personal credit history. You must make installment payments each month in full.With this in mind, you can think of your monthly Upgrade Card payment in the same way as a credit card minimum payment. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories.