Online shopping

Upgrade Card adds an online mall with over 20,000 merchants

Fintech company Upgrade has launched an online shopping mall for its cardholders. The Upgrade Shopping platform offers cashback from over 20,000 local and national merchants. If a cardholder earns cash back with their credit card, this program will offer rewards on top of what they are already earning with their card.

Key points to remember

  • Upgrade launched Upgrade Shopping, offering cash back offers with over 20,000 individual retailers.
  • Upgrade Cardholders can take advantage of the extra cash back by using their card while shopping in-store at participating merchants or online by using the “Shop” button in the Upgrade mobile app or on the website. Company website.
  • The Upgrade Card is technically not a credit card, rather it works like a personal line of credit with fixed interest rates.

Upgrade cardholders can earn money by buying now and paying later

Upgrade cards are unique in the credit card space because they are not actually credit cards. Instead, they provide cardholders with a revolving line of credit. Instead of getting a minimum payment and variable interest rates, Upgrade cardholders will have each monthly balance converted into an installment loan with a fixed interest rate, unless they pay it off in full.

Repayment terms vary from 24 to 60 months, depending on what they are approved for. This arrangement works similarly to some “Buy Now, Pay Later” services that are growing in popularity. Lines of credit on the card can range from $500 to $50,000, although most customers get less than $25,000.

While some upgrade cards offer cashback, not all do.. Now all Upgrade Card users can take advantage of the Upgrade Shopping program, which offers cash back offers with over 20,000 retailers.

Cardholders can earn bonus money when they shop in-store or online through the Upgrade app or website. For those who are already earning rewards on their cards, cash back earned through the Upgrade Shopping portal is additional.

The downside is that if you pay off your purchases over time, APRs can range from 8.99% to 29.99%. At the low end, it may be worth financing some purchases for short periods – you can prepay if you don’t want to use the full repayment term. But if your card charges a higher APR, you may find yourself in financial trouble.

As with standard credit cards, upgrade card users should take advantage of cash back offers and set a goal to pay off their balance on time and in full each month.