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.
Barclays – $200
Barclays Bank will give you a $200 if you open a new savings account and deposit $25,000 or more within 30 days and maintain at least $25,000 for the next 120 days. The savings account also pays a competitive interest rate of 4.35% APY while you wait.
BMO Relationship Checking – $400
BMO Bank is offering a $400 bonus* when you open a BMO Relationship Checking and when you have at least $7,500 in qualifying direct deposits within the first 90 days. It is a very straightforward offer that is available nationwide.
*Conditions apply
Bank of America – $200 Bonus Offer
Bank of America offers a $200 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 account within 90 days of account opening. 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!
HSBC Premier Checking – up to $4,000
HSBC has an offer where you can get up to $4,000 for eligible new customers who open an HSBC Premier checking account, make a sizable deposit, and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months.
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 associated with Rewards Checking Plus accounts. Third-party institutions may charge you a fee if you use their ATM/network or if you use your Upgrade VISA® Debit Card internationally. 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.
