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Upgrade Card Becomes First Generally Available U.S. Credit Card To Offer Bitcoin Rewards

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SAN FRANCISCO, July 21, 2021 / PRNewswire / – Upgrade, Inc., a fintech company that provides affordable and responsible credit to mainstream consumers, today launched the Upgrade Bitcoin Rewards Card a new version of the upgrade card with bitcoin rewards. Under the new program, users earn unlimited bitcoin rewards of 1.5% on every purchase as they make payments.

“The upgrade card has already been delivered $ 3 billion in annualized credit to consumers, ”said Renaud Laplanche, co-founder and CEO of Upgrade. “Starting today, anyone can apply for an Upgrade Bitcoin Rewards card and enjoy the same affordable and responsible credit as any Upgrade card, plus the potential benefits and fun of owning bitcoin. . ”

As with every Upgrade Card, the Upgrade Bitcoin Rewards Card promotes responsible credit by turning every balance into a fixed rate payout plan and paying out rewards to cardholders as they go. they pay off their balance.

The custody and trading platform for holding and selling bitcoin is provided by NYDIG. The Upgrade Bitcoin Rewards card is a Visa Signature card, which includes benefits such as travel and baggage insurance, purchase protection, and extended warranty coverage.

“Crypto Rewards introduce cardholders to a new class of assets that are increasingly part of a consumer’s financial wallet,” said Terry angelos, SVP and Global Head of Fintech at Visa. “Whether you are a crypto enthusiast or just starting out, programs like the Bitcoin Upgrade Reward Card offer an attractive, low-risk way to participate in the crypto economy.”

The Upgrade Card is designed as an economical and responsible credit card. It has no fees, low fixed rates, and equal monthly payments that promote greater discipline and help consumers avoid the endless revolving credit trap of traditional credit cards. The monthly fees are combined into installment plans payable over 24 to 60 months, committing users to the discipline of paying their balance each month.

Pricing and availability

The Bitcoin Rewards card upgrade becomes generally available today: anyone can apply without a waiting list and start using their virtual card immediately until they receive their physical card in the mail. Upgrade Bitcoin Rewards Card has no card fees and low fixed rates. It is accompanied by lines of credit of $ 500 at $ 25,000. Consumers can use their Upgrade Bitcoin Rewards card anywhere Visa is accepted. Cardholders must keep their bitcoin rewards for at least 90 days and then can sell at any time for a 1.5% transaction fee. Bitcoin Rewards card upgrade is currently not available in Hawaii, Indiana, Iowa, Louisiana, Nebraska, Nevada, New Hampshire, North Carolina, Washington, West Virginia, Wisconsin, and the District of Colombia.

About the upgrade

Upgrade is complete $ 7 billion in affordable and responsible credit to ordinary consumers thanks to cards and ready since its inception in 2017. It also offers rewards checking accounts with debit cards that pay 2% rewards on daily transactions and monthly subscriptions. Upgrade is headquartered at San Francisco, California, with an operations center at Phoenix, Arizona and a technological center in Montreal Canada. Loans and lines of credit are issued and banking services are provided by Cross River Bank, a licensed commercial bank in the State of New Jersey, FDIC member, Equal Housing Lender. The upgrade card is issued by Sutton Bank, FDIC member, under license from Visa United States Inc. Rewards associated with the Upgrade Card, if any, are provided by Upgrade, Inc. More information is available at: https://www.upgrade.com.

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SOURCE Upgrade, Inc.

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