Our Verdict
The Upgrade Select Credit Card* is designed for consumers with less-than-stellar credit. However, its annual fee and lack of a standard rewards program may make it a non-starter for many who are looking to build or rebuild their credit history.
Pros
- Offers a welcome bonus
- Predictable repayment
- Earns cash back with select merchants
Cons
- No rewards on everyday purchases
- High APR
- Charges an annual fee
Highlights
- Earn a $200 bonus when you also open and fund a Rewards Checking Plus account and make 3 debit card transactions
- Unsecured credit lines from $500 to $2,000
- Can be used wherever Visa® is accepted
Introduction
The Upgrade Select Credit Card* offers an unsecured line of credit that you can use to build or rebuild your credit score. Depending on your creditworthiness, you can get a line of credit between $500 and $2,000.
Like a traditional credit card, you can pay your Select Card balance in full each month to avoid interest charges. If you don’t, Upgrade will convert your balance into a fixed-rate loan, which you’ll pay off over 12 to 60 months, depending on the amount due. These predictable payments can help you avoid getting caught in a minimum payment trap. However, the fixed APR is high, ranging from 21.96% - 29.99% fixed APR.
The card doesn’t offer rewards on your everyday purchases, but you can earn a $200 bonus when you also open and fund a Rewards Checking Plus account and make 3 debit card transactions.
You can also earn cash back with select merchants through Upgrade Shopping offers, but those deals may or may not consistently line up with your spending habits. The card charges a $39 annual fee.
Featured Partner Offers
Quick Facts
- $39 annual fee
- No traditional rewards, but cardholders can earn up to 10% cash back with Upgrade Shopping powered by Dosh®
- $200 bonus when you also open and fund a Rewards Checking Plus account and make 3 debit card transactions
Other Upgrade Select Card Benefits
- Upgrade Shopping. While you won’t earn cash back on your everyday spending, you can earn up to 10% cash back on offers with select merchants through the Upgrade Shopping program. You can find and activate offers through your online account or in the Upgrade mobile app.
Fine Print
Interest Rates
- Regular APR: 21.96% - 29.99% fixed APR
- Purchase intro APR: N/A
- Balance transfer intro APR: N/A
Fees
- Annual fee: $39
- Balance transfer fee: See terms
- Foreign purchase transaction fee: See terms
How the Upgrade Select Card Stacks Up
Upgrade Select Credit Card* vs. Capital One QuicksilverOne Cash Rewards Credit Card
The Capital One QuicksilverOne Cash Rewards Credit Card is worth considering if you have fair credit and want to earn everyday rewards. The card earns 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply).
You’ll also get a complimentary membership to Uber One for up to six months if you activate by Nov. 14, 2024. The card also charges a $39 annual fee (rates & fees), but with steady rewards, you can earn that back with just $2,600 in annual spending.
Upgrade Select Credit Card* vs. Petal® 2 “Cash Back, No Fees” Visa® Credit Card*
If your credit history is somewhat limited, the Petal® 2 “Cash Back, No Fees” Visa® Credit Card* could be a worthwhile option. The card offers up to 1.5% cash back on every purchase you make—you’ll start with 1% cash back on eligible purchases right away, 1.25% cash back on eligible purchases after making 6 on-time monthly payments, and up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. Plus, earn 2% - 10% cash back at select merchants. The card also charges no fees whatsoever.
Additionally, the card issuer will use your bank account information to develop a Cash Score, which can complement your credit score. So, if you manage your money responsibly, it could improve your approval odds, even if your credit score isn’t high.
Upgrade Select Credit Card* vs. Upgrade Cash Rewards Visa
The Upgrade Cash Rewards Visa can be another decent choice if you have fair credit. The card offers 1.5% cash back on purchases every time you make a payment, and has no annual fee. Credit limits are also higher, with options ranging from $500 to $25,000 based on your creditworthiness.
You can also earn a $200 bonus after opening a Rewards Checking account and making three transactions within 60 days.
Is the Upgrade Select Card for You?
The Upgrade Select Credit Card* offers an unsecured line of credit, making it more appealing than secured credit card options. However, if you don’t have any major derogatory marks on your credit reports, you may be able to get better rewards and lower fees elsewhere.
Take your time to shop around and compare several card options to determine which one is best suited for you.
Find the Best Credit Cards for 2024
No single credit card is the best option for every family, every purchase or every budget. We've picked the best credit cards in a way designed to be the most helpful to the widest variety of readers.
Methodology
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:
- Annual fees
- Welcome bonus offers
- Ongoing earning rates
- Value of individual points or miles
- Included travel or merchant credits
- Additional cardholder benefits
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors come together to provide a star rating for each individual card.
Read more: How Forbes Advisor Rates Credit Cards
*The information for the following card(s) has been collected independently by Forbes Advisor: Upgrade Select Credit Card, Petal® 2 “Cash Back, No Fees” Visa® Credit Card. The card details on this page have not been reviewed or provided by the card issuer.
