Upgrade promotions and bonus offers of September 2024

Upgrade offers a variety of banking and lending products, including the Upgrade card with credit lines up to $25,000 and cash back on purchases — a perk typically reserved for credit cards. Currently, Upgrade has a $200 welcome bonus for getting the card and opening a new checking account.

All Upgrade bonuses at a glance

Bonus type	Bonus amount	Requirements	Learn more
Upgrade Card welcome bonus	$200	Open and fund a new Rewards Checking Plus account and make three qualifying debit card transactions using the Upgrade Card within 60 days of opening. New customers only.	Go to site

Upgrade’s best bonus offer

Upgrade’s best bonus is its $200 welcome offer when you get the Upgrade Card and open a Rewards Checking Plus account.

To qualify for the bonus, you need to be a new Rewards Checking Plus account customer and get the Upgrade Card. You need to make at least three qualifying debit card transactions within 60 days of meeting the requirements. Keep your account in good standing to receive the funds.

What does Upgrade consider a qualifying transaction?

Upgrade does not consider the following transactions as qualifying for bonuses or rewards:

• ATM transactions
• In-store cash withdrawals or cashback transactions
• Transactions identified by a merchant as not eligible for rewards

How does the Upgrade Card work?

The Upgrade Card sort of works like a credit card and personal loan in one. The card will have a limit between $500 and $25,000, and you have predictable monthly payments with a fixed interest rate. The card can earn up to 1.5% cash back on all purchases. If you have an owed balance, your cashback rewards are applied to the Upgrade Card balance after your next scheduled payment. If you don’t have an owed balance, you can elect to have the cash back sent to a bank account on file.

Compare more bank account bonuses

Upgrade is a fintech that provides bank accounts, credit cards and other financial products through its partner, Cross River Bank. Its savings account offers a strong 5.02% APY if you maintain a balance of $1,000, and its checking account comes with a cashback card.

But you must be comfortable with an all-digital banking process as Upgrade doesn’t have physical branches. Plus, it doesn’t allow cash deposits. If Upgrade isn’t right for you, compare more bank account bonuses to earn some extra cash when you’re switching banks.

Bank	Bonus offer	More info
PNC	Up to $1,000	Learn more
SoFi®	Up to $300	Learn more
Fifth Third Bank	Up to $325	Learn more
Chime	Up to $100	Learn more
Varo	Up to $50	Learn more

• SoFi terms and conditions

  New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.50% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 8/27/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
  Our account fee policy is subject to change at any time.
  SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms
  See list of participating banks at SoFi.com/banking/fdic/receivingbanks
  We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time
  Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

Frequently asked questions

Are there banks with immediate signup bonuses?

Unfortunately, most banks don’t pay signup bonuses immediately. Most bonuses have specific conditions to meet, such as spending a certain amount within a designated period. After meeting those conditions, most banks will issue the signup bonus within 30 to 90 days, provided your account remains open and in good standing.