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Upgrade Rewards Checking Account Review

Read our thorough Upgrade Rewards Checking Account review, highlighting everything from how much you can earn to what mobile banking functionality it offers!

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Note: Some information in this post might be outdated. For the most current documentation and updates, please refer to the product’s original page.

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Up to 2% cash back on select purchases with the Upgrade Rewards Checking Account!

Upgrade logo
Check out our Upgrade Rewards Checking Account review! Source: Upgrade

The Upgrade Rewards Checking Account in this review promises customers a great deal. This option has no fees and a Visa debit card that earns up to 2% cash back on utility bills, subscriptions, and everyday expenses.

card

Checking Account

Upgrade Rewards

No ATM fee No transfer fee

Lower rate on loans and cards by Upgrade. No account fees.

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However, the 1% back on other purchases is capped at $500 per year, which significantly decreases the account’s overall value. The positives still prevail as this option offers five ATM reimbursements. Keep Reading!

Fees$0 ATM fees, account fees, and transfer fees.
Minimum balanceNone.
APYChance to pair this account with a 3.50% APY High Yield Savings account.
Credit scoreN/A.
Rewards*2% cash back on everyday purchases;

1% cash back on other purchases.

*Terms apply.

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What is the Upgrade Rewards Checking Account?

Upgrade Rewards Checking Account of this review is worth considering for its benefits. It comes with no fees and a Visa debit card that offers up to 2% back on eligible purchases.

Luckily, Upgrade offers free ATM reimbursements monthly when customers meet certain balance or deposit requirements.

All in all, an Upgrade Rewards Checking Account could be a great choice if you’re looking for banking convenience without the fees.

Upgrade Rewards Checking Account: how does it work?

money bank
Find out how this checking account works! Source: Pexels

Upgrade Rewards Checking Account is a feature-packed one-stop shop for all your banking needs. This account provides unprecedented access to convenience and lucrative savings potential.

This is because of features like high-yield savings account offering 3.50% APY, availability in all 50 states, free debit cards, and the option to lock/unlock the card if it is ever lost or stolen.

Unfortunately, Upgrade Rewards Checking does not offer a signup bonus, does not earn interest in itself, and is online with no access to physical branches.

Ultimately Upgrade Rewards Checking Account may be worth considering for those looking for convenient banking options combined with additional saving opportunities.

Advantages

  • Up to 2% cash back on all eligible purchases;
  • No monthly fees and no activation or annual fees;
  • Unlock the Upgrade High Yield Savings account, earning up to 3.50% APY.

Disadvantages

  • There is no possibility of cash deposits;
  • You need to meet certain balance requirements to use the cashback benefit at ATMs.

Does your credit score need to be good?

To request your Upgrade Rewards Checking Account, it is unnecessary to prove your score. After all, the company works with cash analysis in the current account and does not allow financing.

Therefore, you can fill in your online form and apply. However, it is important to wait for the bank’s evaluation, which can bring better APYs rates if your credit score is higher.

Want to apply for the Upgrade Rewards Checking Account?

Upgrade Rewards Checking Account is an incredible account that offers no ATM fees, account fees, and much more! You can get a 20% lower rate on loans and credit cards by Upgrade! Read on to learn how to apply!

card

Checking Account

Upgrade Rewards

No ATM fee No transfer fee

Lower rate on loans and cards by Upgrade. No account fees.

You will be redirected to another website

With the Upgrade Rewards Checking Account, you can get up to 2% cash back on eligible purchases and attractive benefits. The application is made online, and you can have your account today. Check out the step by step to open your account.

Online application

happy woman
Find out how to apply online! Source: Freepik

To be eligible for Upgrade Rewards Checking Account benefits, you must create your account. Therefore, you must access the official Upgrade website to start the procedure.

Initially, you will need to register with basic information. You must provide data such as name, address, telephone number, and social security.

Next, you will need to create a password and login so you can always access your account on mobile devices or online.

It is important to memorize this data so as not to forget it the next time you access your account.

Finally, you will fill out a brief form requesting your account opening. This form should contain your name, address, financial data, and social security number.

Then, you will submit it and wait for the bank to analyze it.

Requirements

Before you apply online, it’s important to know if you meet the requirements. In this sense, you must be over 18 years old and have valid social security.

This social security number assures the bank that you are recognized as a US citizen. In addition, you will need to provide personal information, such as your address and phone number, which must be up-to-date.

Apply using the app

Several Upgrade Rewards Checking Account users point out that the application is only made online. You must use the browser of your choice and complete the form.

However, Upgrade makes a very good app available in the Android and iOS stores. You can download this application and then use it to monitor the movements of your new account after approval.

Upgrade Rewards Checking Account vs. HSBC Premier Checking Account

With the Upgrade Rewards Checking Account, you get incredible cashback of up to 2% in selected places. Plus, it charges no monthly fees.

However, this doesn’t have to be your only option. If you have a large amount of money to deposit, the HSBC Premier Checking Account may be your best option. Check out the comparison.

Upgrade Rewards Checking AccountHSBC Premier Checking Account
Fees*$0 ATM fees, account fees, and transfer fees.$50 monthly fee (there are ways to avoid this monthly fee).

*Terms apply.
Minimum balanceNone.$75,000 minimum balance to waive the monthly fee.
APYChance to pair this account with a 3.50% APY High Yield Savings account.0.01% with $5 or more as a minimum balance.
Credit scoreN/A.N/A.
Rewards*2% cash back on everyday purchases;

1% cash back on other purchases.

*Terms apply.
If you open your account by February 15, 2023, you’ll be able to get a $500 welcome bonus as an eligible new cardholder (you may need to meet other requirements to qualify)!

*Terms apply.

If you think the HSBC Premier Checking Account is the best choice, read our post below to learn how to apply for it!

HSBC logo

How to apply for HSBC Premier Checking Account

Applying for the HSBC Premier Checking Account is simple and you can do it from the comfort of your own home. See what the requirements are and how to proceed.

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Advertiser Disclosure

We are an independent, objective, advertising-supported content publisher website. In order to support our ability to provide free content to our users, the recommendations that appear on our site might be from companies from which we receive affiliate compensation. Such compensation may impact how, where and in which order offers appear on our site. Other factors such as our own proprietary algorithms and first party data may also affect how and where products/offers are placed. We do not include all currently available financial or credit offers in the market in our website.

Editorial Note

Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included within the post. That said, the compensation we receive from our affiliate partners does not influence the recommendations or advice our team of writers provides in our articles or otherwise impact any of the content on this website. While we work hard to provide accurate and up to date information that we believe our users will find relevant, we cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof.

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