Upgrade Card can help you make good credit decisions by combining the flexibility of a cash back rewards credit card with the predictability of a personal loan. Upgrade Cash Rewards Elite Card is our best cash back rewards card if you want simple, unlimited rewards, without merchant categories to remember or quarterly rewards category signups.

You can use your Upgrade Card to swipe, tap, insert or purchase online everywhere Visa® is accepted. You can also transfer credit card balances from other credit card issuers to your card or send funds to your bank account, subject to applicable fees.

Each statement period, your Upgrade Card transactions are combined into an installment loan with a fixed rate and term. That means you know when you’ll pay off your charges and can save on interest over time. By comparison, most cash back rewards credit cards have a low minimum monthly payment. With minimum payments, you tend to pay off less of the principal and may stay in debt for extended periods of time.

With a fixed rate and term, Upgrade Card gives you the predictability of a personal loan, plus the flexibility of a cash back rewards credit card. You can use your Upgrade Card to swipe, tap, insert or purchase online everywhere Visa is accepted. You have access to funds up to the full line amount, but you only pay interest on the amount that you use. And with Upgrade Cash Rewards Elite Card, you get unlimited 2.2% cash back rewards on purchases when you pay them back.

With a personal loan, your funds are disbursed in a lump sum once you're approved. If you need additional money, you’ll need to apply again to borrow additional funds. You are responsible to pay back the full amount that you borrow, plus interest, even if you do not use the loan proceeds as you planned. And you do not get any cash back rewards on your loan payments.

Upgrade Card is unsecured so you do not need to provide a cash or security deposit or any other collateral.