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Upgrade Card Becomes First Generally Available U.S. Credit Card to Offer Bitcoin Rewards

Cardholders earn unlimited 1.5% bitcoin rewards on every purchase upon payment

San Francisco - July 21, 2021

Upgrade, Inc., a fintech company that offers affordable and responsible credit to mainstream consumers, today launched the Upgrade Bitcoin Rewards Card a new version of Upgrade Card featuring bitcoin rewards. Under the new program, users earn unlimited 1.5% bitcoin rewards on every purchase as they make payments.  

“Upgrade Card is already delivering over $3 billion in annualized credit to consumers,” said Renaud Laplanche, co-founder and CEO at Upgrade. “Starting today, anyone can apply for an Upgrade Bitcoin Rewards Card and enjoy the same affordable and responsible credit as with any Upgrade Card, plus the potential upside and fun of owning bitcoin.”

As with every Upgrade Card, the Upgrade Bitcoin Rewards Card promotes responsible credit by turning every balance into a fixed-rate installment plan, and by paying rewards to cardholders as they pay down their balance.

The custody and trading platform for holding and selling bitcoin is provided by NYDIG. The Upgrade Bitcoin Rewards Card is a Visa Signature card, which includes benefits such as trip and baggage insurance, purchase protection, and extended warranty coverage.

“Crypto rewards introduce cardholders to a new asset class that is increasingly part of a consumer’s financial portfolio,” said Terry Angelos, SVP and Global Head of Fintech at Visa. “Whether you’re a crypto enthusiast or just getting started, programs like the Upgrade Bitcoin Rewards Card offer an engaging and low-risk way to participate in the crypto economy.”

Upgrade Card is designed as a low cost and responsible credit card. It has no fees, low fixed rates, and equal monthly payments that promote greater discipline and help consumers avoid the never-ending revolving credit trap of traditional credit cards. Monthly charges are combined into installment plans payable over 24 to 60 months, committing users to the discipline of paying down their balance every month.

Pricing and Availability

Upgrade Bitcoin Rewards Card becomes generally available today: anyone can apply with no waitlist, and start using their virtual card immediately until they get their physical card in the mail. Upgrade Bitcoin Rewards Card has no card fees and low fixed rates. It comes with credit lines of $500 to $25,000. Consumers can use their Upgrade Bitcoin Rewards Card anywhere Visa is accepted. Cardholders must hold their bitcoin rewards for at least 90 days, and may then sell at any time subject to a 1.5% transaction fee. Upgrade Bitcoin Rewards Card is not currently available in Hawaii, Indiana, Iowa, Louisiana, Nebraska, Nevada, New Hampshire, North Carolina, Washington, West Virginia, Wisconsin, and the District of Columbia.

About Upgrade

Upgrade has delivered over $7 billion in affordable and responsible credit to mainstream consumers through cards and loans since inception in 2017. It also offers rewards checking accounts with debit cards that pay 2% rewards on everyday transactions and monthly subscriptions. Upgrade is headquartered in San Francisco, California, with an operations center in Phoenix, Arizona and a technology center in Montreal, Canada. Loans and credit lines are issued, and banking services are provided, by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. Upgrade Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Rewards associated with the Upgrade Card, when applicable, are provided by Upgrade, Inc. More information is available at:

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