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News: Upgrade Launches Checking Account And Debit Card - Credit-Land.com

Upgrade, Inc., a neobank that offers affordable credit to consumers through personal loans and credit cards, announced its new banking product - a unique Rewards Checking account.

Upgrade already offers the Upgrade Cash Rewards Visa®, which allows earning 1.5% unlimited cash back on all card purchases, and the Upgrade Personal Loan with fixed rates. And now they are filling the gap by adding checking accounts and debit cards to their products portfolio.

Upgrade's Rewards Checking accounts come with linked Upgrade Visa® Debit cards. There are no annual fees, no account fees, no overdraft fees, no transfer fees, and no minimum account balance. Also, there are no ATM fees, and Upgrade will rebate ATM fees charged by another institution for ATM withdrawals in the U.S., up to five times a month. To qualify for the rebates, you will need to maintain an average daily balance in your Upgrade Rewards Checking account or set up a direct payroll deposit into your account.

What distinguishes Upgrade checking accounts from other checking accounts is rewards on debit card purchases. Debit card payments will earn 2% cash back on common everyday expenses, like purchases at convenience stores, drugstores, gas stations, restaurants, and deliveries, as well as recurring payments like utilities, phone, cable, monthly subscriptions, and streaming services. All other debit card charges will earn 1% cash back. The 2% cash back has a limit though, you will earn it on up to $500 in rewards per calendar year.

Banking services associated with Upgrade's Rewards Checking and Upgrade Visa® Debit are provided by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC.

tags : Cash Back Checking Account Debit Cards

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All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.