*For complete information, see the offer terms and conditions on the issuer or partner's website. If you’re hankering for flashy perks or a rewards program, you may want to take a look at other cards that offer 0% introductory offers or low ongoing APRs, since the Upgrade Card doesn’t have much to offer beyond its installment plan feature.While the Upgrade Card’s installment payment model could make it easier for you to pay off your balance quickly, you could still pay a significant amount in interest, especially if you’re offered the card’s high-end APR.
This could be a great option if you don’t think you’ll be able to pay off your balance during a credit card’s 0% introductory APR period for balance transfers.The Upgrade Card is a barebones card designed to help cardholders finance purchases while keeping interest payments under control. Although it looks like one, the Upgrade Card is not a traditional credit card. CreditCards.com credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. Copyright © 2020 CreditCards.com a Red Ventures Company. Experian. As with other types of loans, making on-time payments can help you build credit, while late payments can hurt your credit history.Unlike some personal loans and personal lines of credit, the Upgrade Card doesn't charge any application, origination, annual, monthly or inactivity fees. Meanwhile, a cardholder making the minimum payment on a traditional credit card with the same APR would pay more than $14,000 in interest and would take 28 years to pay off the same balance:The chart below shows the difference in interest paid and time to payoff on a $10,000 balance with the Upgrade Card versus a traditional credit card by a user making a credit card’s monthly minimum payment (assumes an “interest + 1%” minimum payment and an interest rate of 18%, which is close to the Another great benefit of the Upgrade card is its low regular APR.

Fortunately, you can see your estimated rate and credit line with a soft-inquiry application for the Upgrade Card, which won't impact your credit scores.If you decide to open an Upgrade Card, you can monitor and manage your account using the You can't add an unauthorized user to your account with the Upgrade Card.Apply for credit cards confidently with personalized offers based on your credit profile. Upgrade Card Personal Credit Line Review. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. By providing my email address, I agree to CreditCards.com’s Balance transfers are also an option, with the card offering a 0% APR for 18 billing cycles for balance transfers made in first 60 days (14.49%-24.49% variable thereafter) and charging a pretty standard balance transfer fee of 3% (or $10, whichever is higher).With one of the longest introductory offers on balance transfers available, this card could be a good choice if you need a lot of time to pay down debt. If you apply for a credit card, the lender may use a different credit score when considering your application for credit. The use of any other trade name, copyright, or trademark is for identification and reference purposes only and does not imply any association with the copyright or trademark holder of their product or brand. However, if you want a card for everyday spending and regularly pay your bill in full, you can avoid interest and earn rewards with a credit card. On the downside, cardholders on the low end of the credit spectrum will need to watch out because the card’s APR also ranges as high as 29.99%.Besides its low interest rate, the Upgrade card helps you keep costs in check by not bombarding you with unexpected fees. If you are currently using a non-supported browser your experience may not be optimal, you may experience rendering issues, and you may be exposed to potential security risks. However, if you want a card for everyday spending and regularly pay your bill in full, you can avoid interest and earn rewards with a credit card. Upgrade Review Verdict: The Upgrade Card is a good option for people with fair credit who want to borrow money and build credit at a reasonable price.
Keep an eye on your inbox—we’ll be sending over your first message soon.Essential news and expert tips in your inbox every week Keep an eye on your inbox—we’ll be sending over your first message soon.Since it automatically puts your balance into an installment plan at the end of the month, the Upgrade Card helps you keep your interest payments – and your overall credit card balance – in check.No fees of any kind (note, cash advances and balance transfers are not allowed)While there are many credit cards that promise you savings on interest through 0% introductory APRs or a low regular interest rate, the new Upgrade Card offers an innovative feature that may be the ultimate means of minimizing your interest payments: automatic installment plans.The card automatically puts your balance into an installment plan with a fixed monthly payment. If you’re hankering for flashy perks or a rewards program, you may want to take a look at other cards that offer 0% introductory offers or low ongoing APRs, since the Upgrade Card doesn’t have much to offer beyond its installment plan feature. However, if your question is of interest to a wide audience of consumers, the Experian team will include it in a future post.Offer pros and cons are determined by our editorial team, based on independent research.