Upgrade is a financial technology company that offers banking services through a variety of banking partners. They’re known for their personal loans but they also offer deposit products, like a rewards checking and savings account, as well as credit and debit cards.
Checking and savings accounts are provided by FDIC-insured Cross River Bank and their Upgrade Card is issued by Cross River Bank, Member FDIC.
Today, you can get a $200 cash bonus from Upgrade when you get their Upgrade Card and pair it with an Upgrade Rewards Checking account.
The card has no annual fee and checking account has no fee and no minimum – a nice combination if you want to take advantage of the bonus and open a new account.
How to get $200 from Upgrade Rewards Checking
This bonus is super simple and does NOT require a direct deposit, which makes it very appealing.
First, apply for the Upgrade Card.
Then:
- Open a new Upgrade Rewards Checking account, and,
- Make three qualifying debit card purchases within the first 60 days.
That’s it!
With the Upgrade Cash Rewards card, you also earn 1.5% cash back after you pay them back. The rewards are applied directly to your balance so there’s no need to redeem them, they’re automatically credited.
The account has no annual fee, no late fees, and no foreign transaction fees.
How does this offer compare?
This is a bank bonus that’s structured like a credit card bonus, though instead of having to spend a certain amount you just need to make three purchases. Three purchases is very easy.
The card itself is also very appealing because you earn 1.5% cashback (when you pay off the charge) and the amount is credited to your account. These aren’t points you have to redeem or take any special steps, it just happens and that’s very convenient.
As for the amount, $200 is a good bonus for such easy requirements to meet.
U.S. Bank – up to $450
Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through December 31, 2024. Member FDIC.
Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.
BMO Checking – $300
BMO is offering a $300 bonus* when you open a BMO Checking account and have $4,000 in direct deposits within 90 days of opening. It is a very straightforward offer that is available nationwide.
*Conditions apply
Bank of America – $300 Bonus Offer
Bank of America offers a $300 Bonus Offer cash bonus if you open a new account and Set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer. It has a monthly fee that is easy to have waived.
Chase Total Checking® – $300
Chase Bank will give you $300 when you open a Total Checking account and set up and receive direct deposits totaling $500 or more within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
1 Rewards Checking Plus customers who set up monthly direct deposits of $1,000 or more earn 2% cash back on common everyday expenses at convenience stores, drugstores, restaurants and bars – including deliveries – and gas stations, as well as recurring payments on utilities and monthly subscriptions including phone, cable, TV and other streaming services, and 1% cash back on all other debit card purchases. 2% cash back is limited to $500 in rewards per calendar year; after $500, customers earn 1% cash back on all eligible debit card purchases for the remainder of the year. Rewards Checking Plus accounts with less than $1,000 in monthly direct deposits 60 days after account opening will earn 1% cash back on common everyday expenses and 0.50% cash back on all other eligible debit card purchases. Some limitations apply. Please refer to the applicable Upgrade Visa® Debit Card Agreement and Disclosures for more information.
2 There are no overdraft fees or annual fees. Optional out-of-network ATM withdrawals are subject to a fee of $2.50, 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 fee of $20 after your first fee-free transfer per calendar month. Please refer to the applicable Cross River Bank Checking Deposit Account Agreement and Upgrade Visa® Debit Card Agreement and Disclosures for more information.
3 Early direct deposit requires set up of recurring electronic direct deposit from your employer, payroll, or benefits provider and is limited to direct deposits under $5000. Early access to direct deposit funds depends on the timing in which we receive notice of impending direct deposit, which is generally up to two days before the scheduled deposit date.
4 Active Accounts with a monthly direct deposit of $1000 are eligible for additional benefits on Rewards Checking Plus such as additional cash back rewards and more. See the Active Account page for more information.
Run, don’t walk from Upgrade. I have spent hours on the phone with them resolving various issues. You are required to open multiple accounts to earn the bonuses. Each account has their own customer service desk and can only deal with that account. You will spend lots of your valuable time trying to get transferred to someone that can help.
Hmmm I’ve heard from a lot of readers that they were straight up denied an account. They didn’t even get a chance to jump through hoops, they shut them down and there was no explanation.