The Upgrade Card APR range is 8.99% - 29.99%. That’s a far wider range than most credit cards offer, and the minimum is one of the lowest rates on the market while the maximum is one of the highest. Exactly what APR each cardholder receives will depend on their credit score, income and other factors like the amount of debt they have, how recently they have applied for other credit and more. People with excellent credit and high incomes will have the best chance of getting the lowest rates, while people who only meet the minimum qualifications for the card will likely receive an APR closer to the maximum.
Each month, Upgrade will convert the new charges on your card into equal monthly installment payments, rather than just a minimum payment like a traditional credit card. You’ll have a choice of how many installment payments there will be – from 12 to 60. The card’s APR will determine how much interest you will pay for each installment. And you can pay more than you’re required to any time without penalty.
Upgrade will monitor your credit through soft inquiries (which don’t affect your score) while you have the Upgrade card. Based on any changes they find, they may adjust the APR for future balances on your card accordingly. It’s also good to note that there is no separate APR for balance transfers or cash advances because those transactions are not allowed. You can, however, send money from the card to your bank account, and that’s subject to the same APR as using the card for purchases.
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