visa

Credit Card Issuers: Upgrade (4 Cards Reviewed)

Credit Card Reviews, Credit Card Roundups /

Upgrade is a California-based fintech company launched in 2017. They offer personal loans, a free checking account, and four credit cards. Sign-up bonuses are rare but may be possible from time to time. Otherwise, none of their cards have annual fees or sign-up bonuses. All of them say “No fees and set payoffs bring your balance down faster so you pay less interest” and “Combine the flexibility of a credit card with the low cost and predictability of a personal loan.“ Autopay is required for lower credit lines. All credit cards have the potential to be Visa Signature cards. Credit limit will typically be between $500 and $25,000 although Upgrade says they’ll go up to $50,000 in rare cases.

In general, Upgrade appears to be a company for people who’ve had some financial difficulties. You can qualify for their credit cards even with below-average FICO scores. Low fees or APR aren’t especially compelling for rewards-seekers and credit card churners. These groups never pay interest on credit cards and maximize their spending for cash back. It’s a different demographic than most banks, although Upgrade has potential benefits for most people.

You can check to see if you’re prequalified for a card without any impacts to your credit score.

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Benefits and Differences Between Visa Traditional, Signature, and Infinite

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Visa has a number of different card types. Their website breaks these down into 3 main categories: Traditional, Signature, and Infinite. Although other categories may exist, these are the main consumer cards. Each category of card comes with different perks, although it varies by card issuer. Visa has lists of potential benefits, and it’s up to individual card issuers whether they want to offer a full or partial list.

The base benefits are generally expected from all credit cards. If your card is lost or stolen, you can lock it and/or you won’t be held liable for unauthorized transactions. Other listed benefits can be more or less useful than this. Most modern cards should also have EMV chips, a tap-to-pay feature, and mobile wallet compatibility.

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Review: AOD Federal Credit Union Visa Signature

⭐⭐⭐⭐, Credit Card Reviews /

Important update as of late 2022: This card is CLOSED to new applications. It isn’t currently available.

The AOD Visa Signature credit card (aka Anniston Ordnance Depot Federal Credit Union Visa) is a high-earning no-fee option for Alabama residents. Some people from out-of-state have been able to get the card, although the potential pathways aren’t guaranteed. AOD has the only credit card which earns an unlimited 3% cash back on everything. No category restrictions or other downsides, aside from the difficulty of getting credit union membership.

FEATURES AT A GLANCE

  • No annual fee
  • No foreign transaction fee
  • 3% cash back on all purchases

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Review: PNC Cash Rewards

⭐⭐⭐, Credit Card Reviews /

The PNC Cash Rewards Visa is a general credit card for gas and restaurant purchases. It isn’t significantly better than competitors, but it’s better than some. There’s an annual spending limit for bonus categories, so most people will prefer a card for unlimited rewards, even if the limit is high.

FEATURES AT A GLANCE

  • No annual fee
  • 3% foreign transaction fee
  • 4% cash back on gas
  • 3% cash back on restaurants
  • 2% cash back on groceries
  • 1% cash back on everything else

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Review: Bank of America Customized Cash Rewards

⭐⭐⭐⭐, Credit Card Reviews /

Bank of America Customized Cash Rewards is a Visa credit card which lets people choose a category for earning 3% cash back. There are some hoops to jump through (see below) but the card can be a decent earner. It’s a flexible card with good niche usage potential. Most people should consider the card, although the highest value is reserved for Preferred Rewards customers at Platinum Honors tier or above.

In August 2023, Bank of America expanded their 3% categories slightly. “Gas” now includes electric vehicle charging stations. “Online shopping” now includes cable, streaming, internet, and phone plans.

FEATURES AT A GLANCE

  • No annual fee
  • 3% foreign transaction fee
  • 3% cash back in the category of your choice (6 options) up to $2,500 spent per quarter
  • 2% cash back at grocery stores and wholesale clubs
  • 1% cash back on everything else

3% eligible categories:

  1. Gas and EV charging stations (default category until changed)
  2. Online shopping (including Amazon) and cable/streaming/internet/phone plans
  3. Dining
  4. Travel
  5. Drug stores and pharmacies
  6. Home improvement and furnishings

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The Top 5 Credit Cards for Amazon Purchases

Credit Card Roundups /

Billions of people visit Amazon each month, so getting a decent cash back rate at Amazon can be fairly important. The company isn’t without controversy, but we’re going to focus solely on cash back credit cards with the below information. Amazon still has more than 200 million Prime members and has been designated America’s most trusted retailer. Note that Amazon frequently has promotions to save even more money.

Outside of these top 5 options (which are all Visa Signature cards), check out our list of the best cards for everyday spending. It’s pretty easy to earn 2% to 5% cash back on all purchases.

 

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Review: Vantage West Connect Rewards

⭐⭐⭐⭐, Credit Card Reviews /

Vantage West Connect Rewards is a Visa Signature credit card which can earn 5% cash back in select categories. Unfortunately, the card seems to be for southern Arizona residents only. If you’re eligible for the card though, it’s a strong offering for long-term use. The main downside is that 5% cash back is limited to $1,500 in spending per quarter, and you need to manually choose categories each quarter. This is the same limitation of rotating-category cards like the Discover It Cash Back and Chase Freedom Flex.

FEATURES AT A GLANCE

  • No annual fee
  • 1% foreign transaction fee
  • 5% cash back on a category of your choice (9 options, see below)
  • 3% cash back on gas
  • 2% cash back on groceries
  • 1% cash back on everything else

5% eligible categories:

  1. Travel
  2. Restaurants
  3. Utilities (water, cell, electric, etc.)
  4. In-Store Wholesale Purchases (Costco, Sam’s Club, etc.)
  5. Department Stores
  6. Hardware & Home Improvement Stores
  7. Charitable Organizations
  8. Pharmacies & Drug Stores
  9. Amazon.com

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Review: U.S. Bank Altitude Reserve Visa Infinite

⭐⭐⭐⭐⭐, Credit Card Reviews /

The U.S. Bank Altitude Reserve (USBAR) is a premium travel card which also works well for everyday usage. It closely competes with the the Chase Sapphire Reserve, Capital One Venture X, and other luxury cards. The USBAR might have lower earning potential than certain competitors, but it’s often easier to use and more convenient. This is a card worth exploring even if it can potentially be tough to get U.S. Bank credit cards.

FEATURES AT A GLANCE

    • $400 annual fee
    • Zero foreign transaction fees
    • 5x points on hotels and car rentals booked through U.S. Bank’s website
    • 3x points on travel
    • 3x points on mobile wallet transactions
    • 1x points on everything else
    • $325 annual credit (for travel or restaurants)
    • $100 credit towards Global Entry or TSA PreCheck (once every 4 years)
    • Metal card

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Credit and Debit Cards Earning Cryptocurrency

Credit Card Roundups /

Some companies allow customers to earn rewards in cryptocurrency. As of late 2021, there are 8+ known options available. More are coming soon like Nexo and Celsius.

The main downside is how this complicates finances. Some issues to consider:

  • Tax implications for some cards and/or transactions, including any rewards earned (capital gains or losses may apply)
  • At this time, most people would rather earn than spend cryptocurrency, since crypto is an asset which generally appreciates in price
  • It can be more cost-effective to stick with traditional credit cards (which typically have higher earn rates) and manually purchase cryptocurrency with those rewards (or dollar-cost averaging)
  • Services aren’t available in every country or state, which may potentially cause issues with cross-border transactions (or if you decide to move)
  • Most of the below cards don’t have sign-up bonuses or other obvious incentives to get a crypto-specific card
  • Variable value makes it difficult to accurately calculate rewards, and cash back rates could be as low as 0%

Overall, cryptocurrency-focused cards aren’t attractive at this time. They’re mostly novelties with niche use cases. This is hopefully subject to change as blockchain technology gains wider adoption.

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Review: Capital One Venture X Visa Infinite

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The Capital One Venture X is a premium card focused on travel and everyday spending. It has an annual fee and it can be difficult to optimize rewards, so it’s not for everyone. Still, Venture X does have plenty of perks, aiming to compete with cards like the Chase Reserve Sapphire. It’s worth a look for anyone who travels at least once or twice a year. And as a general-spending card, it’s much better than the lower-tier Venture and VentureOne cards from Capital One. Venture X is a newer Visa Infinite card and was released in early November 2021.

FEATURES AT A GLANCE

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