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Upgrade Rewards Checking Preferred
upgrade.comSummary
Upgrade Rewards Checking Preferred is a financial product that provides a debit card with cash back rewards, early direct deposit, and a linked high-yield savings account. It focuses on everyday banking needs with features like mobile check deposits and ATM access, along with tools for managing savings.
Feature Matches3/12
See all3/12
Must Have
2 of 5
Prepaid Debit Card (Cash App Card)
Early Direct Deposit
Instant P2P Transfers
Commission-Free Stock Trading
Bitcoin Trading
Other
1 of 7
Fraud Monitoring & Security
High-Yield Savings
Round-Up Savings
Pay Over Time (Afterpay)
Instant Discounts & Offers
Customizable Card Designs
ATM Access & Fee Reimbursement
PricingFreemium
See allFreemium
Rewards Checking Preferred (Base Account)
$0.00 monthly
- No monthly maintenance fees
- Quick, easy, and free to open an account
- FDIC or NCUA insurance up to $250,000
- Get paid up to 2 days early with direct deposit (for deposits under $5,000)
- No overdraft fees
- Access to over 55,000 fee-free Allpoint ATM Network
- Mobile check deposits
- Secure 24/7 access to money
- View balances, transfer money between accounts
- Real-time alerts
- Joint accounts available
- Smart Transfer Tools (Save My Paycheck, Bill Pay Guard, Auto Balance)
- 1.5% APY on Performance Savings account (if opened)
- 1% cash back on all eligible debit card purchases (after $500 max for 2% cash back)
- No cash back on purchases if less than $1,000 in monthly direct deposits
- Performance Savings APY is 1.5% instead of 4.02% without $1,000 monthly direct deposit
- No lower rates on new loans & cards through Upgrade without $1,000 monthly direct deposit
- No Extra Spending Power with Upgrade OneCard without $1,000 monthly direct deposit
- Optional out-of-network ATM withdrawals subject to a $2.50 fee plus any third-party fees
- Debit card transactions with merchants outside the U.S. or in a foreign currency are subject to a 3% fee
- Outbound domestic wire transfers are subject to a $20 fee after your first fee-free transfer per calendar month
Rewards Checking Preferred (Active Account)
$0.00 monthly
Popular- All Base Account features
- Up to 2% cash back on purchases in eligible categories (convenience stores, drugstores, restaurants and bars including deliveries, gas stations, utilities including electric/gas/sanitary/water, and monthly subscriptions including phone/cable/TV/streaming services)
- Performance Savings APY up to 4.02% (when paired with Rewards Checking Preferred)
- 10%-20% lower interest rates on new loans & cards through Upgrade
- Extra Spending Power with Upgrade OneCard (up to $5,000)
- 2% cash back rewards are limited to $500 per calendar year ($25,000 in eligible category purchases), then 1% cash back applies
- Requires at least $1,000 in monthly direct deposits to qualify for enhanced benefits
- Early direct deposit limited to direct deposits under $5,000
- Optional out-of-network ATM withdrawals subject to a $2.50 fee plus any third-party fees
- Debit card transactions with merchants outside the U.S. or in a foreign currency are subject to a 3% fee
- Outbound domestic wire transfers are subject to a $20 fee after your first fee-free transfer per calendar month
Rationale
Upgrade Rewards Checking Preferred offers a debit card for purchases, early direct deposit, and a linked high-yield savings account. It also mentions security features like 24/7 access and real-time alerts, which align with fraud monitoring. However, it does not offer peer-to-peer transfers, stock trading, or bitcoin trading, which are core features of Cash App.
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