Upgrade announces new credit card with bitcoin rewards
Based in San Francisco To improve, a neobank that offers affordable and responsible credit to consumers, has announced the launch of Upgrade Bitcoin Rewards Card, a new version of Upgrade Card that offers bitcoin rewards.
Under the new program, users will earn unlimited bitcoin rewards of 1.5% on every purchase as they make payments. Upgrade Bitcoin Rewards Card has no card fees and low fixed rates and comes with credit lines of $ 500 to $ 25,000.
“Upgrade Card already offers more than $ 3 billion in annualized credit to consumers. Starting today, anyone can apply for an Upgrade Bitcoin Rewards card and enjoy the same affordable and responsible credit as with any Upgrade card, plus the potential benefits and fun of owning bitcoin ”, said Renaud Laplanche, co-founder and CEO of Upgrade.
As with every upgrade card, the new credit card promotes responsible lending by turning every balance into a fixed rate installment plan and paying rewards to cardholders as they pay off their balance.
The custody and trading platform for holding and selling bitcoin is provided by NYDIG. The Upgrade Bitcoin Rewards card is a Visa Signature card, which includes benefits such as travel and baggage insurance, purchase protection, and extended warranty coverage.
“Crypto Rewards introduce cardholders to a new class of assets that are increasingly part of a consumer’s financial wallet. Whether you are a crypto enthusiast or just starting out, programs like the Upgrade Bitcoin Rewards Card offer an attractive, low-risk way to participate in the crypto economy, ”said Terry Angelos, Senior Vice President and Head. Global FinTech at Visa.
Founded in 2017, Upgrade aims to deliver frictionless and value mobile banking to its customers. It offers personal loans and cards, as well as credit monitoring and education tools, helping consumers gain more control over their money. The upgrade card is issued by Sutton Bank, member of the FDIC, under license from Visa USA. Cardholders must keep their bitcoin rewards for at least 90 days and then can sell at any time for a 1.5% transaction fee.