topic Re: upgrade cards have a $400 Welcome Bonus again on CK in Credit Cards

upgrade cards have a $400 Welcome Bonus again on CK

ptatohed — Sat, 22 Jun 2024 08:40:10 GMT

I know the upgrade cards are not for everyone but I just thought I'd point out that most of the upgrade cards on Credit Karma are offering the $400 Welcome Bonus again. It's usually $200 on upgrade's site and even on CK. But every so often, it will be $400 if you apply through CK.

I don't know how often they offer $400 but it was $400 when I got my Cash Rewards Elite (uncapped 2.2% CB everything) about a year ago. Then it went back to $200 and now it's back to $400.

You do need to open a checking account but earning the $400 is cake - just 3 debit card purchases of any amount. And the debit card earns 0.5% - 2.0% depending on spend categories and if you meet certain requirements, or not. The checking account is free and has no minimum balance requirements. I remember I knocked my 3 purchases out in one night. I think I was at Popeye's and I just broke my purchase up into 3 (my meal, my son's meal, a dessert after we finished). Got the $400 pretty quickly. I can't think of an easier/quicker free $400. You don't even need to use the credit card to get the $400! And you can literally make 3 $1 purchases to qualify.

Not totally related but I'll also point out that upgrade has one of the best savings accounts out there - currently 5.21%.

Oh, and lastly, it's a soft pull pre-qual. No HP unless you accept.

Re: upgrade cards have a $400 Welcome Bonus again on CK

redpat — Sat, 22 Jun 2024 12:49:21 GMT

HP and have to open checking with an ordinary CC and a taxble SUB, waist of time.

I have done a few checking account offers from various banks and w/ an effective tax rate of 37% it's just not worth the time and aggravation anymore.

Waiting patiently for the Citi Strata Elite 100k sub worth at least $1,500 in travel and tax free.

Re: upgrade cards have a $400 Welcome Bonus again on CK

ptatohed — Sun, 23 Jun 2024 07:30:51 GMT

@redpat wrote:
HP and have to open checking with an ordinary CC and a taxble SUB, waist of time.

I have done a few checking account offers from various banks and w/ an effective tax rate of 37% it's just not worth the time and aggravation anymore.

Waiting patiently for the Citi Strata Elite 100k sub worth at least $1,500 in travel and tax free.

The $400 bonus is not taxed. But thank you for thinking that it is and stating it like it's a fact instead of asking. But even if it was, in a 25% tax bracket, a quick and easy $350 clear for a quick and easy 3 purchase spend is still pretty incomparable. And a 2.2% CB non-cat and uncapped card is not 'ordinary'. But thank you for thinking that it is.

Re: upgrade cards have a $400 Welcome Bonus again on CK

redpat — Sun, 23 Jun 2024 12:21:38 GMT

@ptatohed wrote:
@redpat wrote:
HP and have to open checking with an ordinary CC and a taxble SUB, waist of time.

I have done a few checking account offers from various banks and w/ an effective tax rate of 37% it's just not worth the time and aggravation anymore.

Waiting patiently for the Citi Strata Elite 100k sub worth at least $1,500 in travel and tax free.
The $400 bonus is not taxed. But thank you for thinking that it is and stating it like it's a fact instead of asking. But even if it was, in a 25% tax bracket, a quick and easy $350 clear for a quick and easy 3 purchase spend is still pretty incomparable. And a 2.2% CB non-cat and uncapped card is not 'ordinary'. But thank you for thinking that it is.

Nice math, $300 not $350.

Sounded like a banking account offer rather than a Credit Card SUB because you don't need to use the card for the SUB, debit card triggered the SUB, you have to open an account to get the SUB and it's deposited into the checking account. Banks do issue 1099-int on banking offers.

Re: upgrade cards have a $400 Welcome Bonus again on CK

FicoMike0 — Sun, 23 Jun 2024 14:30:25 GMT

@ptatohed @Good info! For me, it's taxable if I get a 1099. I know, a deposit account sub is taxable regardless. So when I do my taxes, if I had any income I didn't get a w2, 1099, or other reminder, I conveniently forget. I collected 5 such subs last year, only got one 1099. I think the bank is required to only if it's $600 or more.

Re: upgrade cards have a $400 Welcome Bonus again on CK

RedKhaos — Sun, 23 Jun 2024 15:10:48 GMT

Have seen this bank on CK as well, but never researched it.

I think this looks interesting. Does upgrade mostly pull Transunion or did it pull only that for you? If so then this is pretty huge for me. Was looking for churnable activies without burning more of my other bureau spots.

You mentioned they run this elevated $400 bonus annually, OP? Might not be able to get it now, but will definitely keep an eye in the future.

Re: upgrade cards have a $400 Welcome Bonus again on CK

Anonymous — Mon, 24 Jun 2024 00:29:33 GMT

Here is the link to the $400 offer.

The link is currently working as I post it. 2024-06-23

https://www.upgrade.com/funnel/pcl/apply?utm_source=credit_karma_card&utm_medium=partners_linking&utm_campaign=ita&utm_content=rcwb400&rp_code=00&subid=42708523230&mid=0

This link is probably better. Shows 2 cards that have the $400 offer

https://www.creditkarma.com/credit-cards/search-cc?q=upgrade

I am not endorsing this. I am not even willing to apply myself.

On an edited side note:

Sure is a silly name for a credit card / financial product.

Complete pain in the ... to mine relevent data about a product named "Upgrade card"

Re: upgrade cards have a $400 Welcome Bonus again on CK

ptatohed — Mon, 24 Jun 2024 07:04:52 GMT

I did not receive a 1099 from upgrade for the $400 I received with the card/checking combo.

Re: upgrade cards have a $400 Welcome Bonus again on CK

redpat — Mon, 24 Jun 2024 09:24:41 GMT

@ptatohed Regardless it's taxable and at least you know the facts now, geez......

https://www.nerdwallet.com/article/banking/bank-bonus-or-interest-taxes

Re: upgrade cards have a $400 Welcome Bonus again on CK

pip3man — Mon, 24 Jun 2024 11:24:48 GMT

Just to add to the info already put out there... approval for this card doesn't have to result in a HP. It works exactly like the Apple card - you enter your data and it spits out your credit limit and APR. You can freeze your TU report before accepting the offer so that way you can avoid the HP. Both cards I got with them were acquired using this method. The $400 SUB I also got at the time was one of the easiest in my experience and no tax form was sent to me either. All you gotta do like OP mentioned is open and use the checking account debit card for 3 purchases for any amount. There are a few drawbacks with Upgrade however, once you become an account holder you can't get subsequent SUB because they are based on "new checking customers who have not previously opened a checking account through Upgrade." and there is no time limit. Secondly, they are very quick to take adverse action with any change on your credit report. My limit was slashed on 3 different occasion going from $11.5k to the current $4k where it now sits at. Also they are very likely to request POI as part of the application process but none was requested from me.

Re: upgrade cards have a $400 Welcome Bonus again on CK

7774x — Mon, 24 Jun 2024 18:46:42 GMT

@redpat wrote:
@ptatohed wrote:
@redpat wrote:
HP and have to open checking with an ordinary CC and a taxble SUB, waist of time.

I have done a few checking account offers from various banks and w/ an effective tax rate of 37% it's just not worth the time and aggravation anymore.

Waiting patiently for the Citi Strata Elite 100k sub worth at least $1,500 in travel and tax free.
The $400 bonus is not taxed. But thank you for thinking that it is and stating it like it's a fact instead of asking. But even if it was, in a 25% tax bracket, a quick and easy $350 clear for a quick and easy 3 purchase spend is still pretty incomparable. And a 2.2% CB non-cat and uncapped card is not 'ordinary'. But thank you for thinking that it is.
Nice math, $300 not $350.

Sounded like a banking account offer rather than a Credit Card SUB because you don't need to use the card for the SUB, debit card triggered the SUB, you have to open an account to get the SUB and it's deposited into the checking account. Banks do issue 1099-int on banking offers.

Does UpGrade still require a self photo of applicant & send along as part of application?

Re: upgrade cards have a $400 Welcome Bonus again on CK

GatorCowboyLion — Mon, 24 Jun 2024 19:02:19 GMT

Very interesting card! Very similar to the Citi Custom Cash, but with $3k per quarter spend limit. I much prefer quarterly over monthly and annual over either. Plus $3k is double the cumulative total allowed for CCC. This allows for a large purchase, for example, spend $3k, take your $150 cb and sock drawer the card till next quarter.

Too bad I have poor approval chances, I know it's just sp, but I'm in the garden anyhow, 2/6 from SYW and altitude connect. I have mid 700s scores. I wonder what their target customer base is. I think the play would be to snag the $400 with the triple card and use it for healthcare bills and then get this one second. Very interesting, thanks for bringing it to our attention Potato! And don't mind redpat, none of the rest of us do, he just likes to take a dump in every comment thread.

Re: upgrade cards have a $400 Welcome Bonus again on CK

Anonymous — Tue, 25 Jun 2024 01:06:18 GMT

@GatorCowboyLion wrote:
Very interesting card! Very similar to ....

Just pointing out that this isn't a normal Credit Card. It has day 1 interest / no grace period.

Here is a short thread from bogleheads about it

Re: upgrade cards have a $400 Welcome Bonus again on CK

RedKhaos — Tue, 25 Jun 2024 01:53:22 GMT

@Anonymous wrote:
@GatorCowboyLion wrote:
Very interesting card! Very similar to ....
Just pointing out that this isn't a normal Credit Card. It has day 1 interest / no grace period.

Here is a short thread from bogleheads about it

That is very unfortunate! Guess that makes sense as those rates seem too good. Thanks for pointing this out. I guess they are good for a once a life time $400 at some point.

Re: upgrade cards have a $400 Welcome Bonus again on CK

xenon3030 — Tue, 25 Jun 2024 06:09:11 GMT

@pip3man wrote:
Secondly, they are very quick to take adverse action with any change on your credit report. My limit was slashed on 3 different occasion going from $11.5k to the current $4k where it now sits at. Also they are very likely to request POI as part of the application process but none was requested from me.

This is a sufficient reason for me to avoid considering this card, even with its 5% categories. A super-sensitive lender that can take an improper AA at an incorrect time might be able to result a large harm, since the other lenders might follow and do similar AAs.

In my wallet, the combo of BOA-CCR (online shopping, plat honor --> 5.2%) and US Bank AR (in-store, 4.5%) would cover the majority of my needs.

Re: upgrade cards have a $400 Welcome Bonus again on CK

Wu-Credit — Tue, 25 Jun 2024 13:23:01 GMT

@GatorCowboyLion wrote:
Very interesting card! Very similar to the Citi Custom Cash, but with $3k per quarter spend limit. I much prefer quarterly over monthly and annual over either. Plus $3k is double the cumulative total allowed for CCC. This allows for a large purchase, for example, spend $3k, take your $150 cb and sock drawer the card till next quarter.

Too bad I have poor approval chances, I know it's just sp, but I'm in the garden anyhow, 2/6 from SYW and altitude connect. I have mid 700s scores. I wonder what their target customer base is. I think the play would be to snag the $400 with the triple card and use it for healthcare bills and then get this one second. Very interesting, thanks for bringing it to our attention Potato! And don't mind redpat, none of the rest of us do, he just likes to take a dump in every comment thread.

Those 5% categories are sweet. Utilities and Pet Care are two other options: https://www.upgrade.com/upgrade-card/my-five/categories/

@ptatohed can you please share how to avoid interest on these nontraditional cards?

Re: upgrade cards have a $400 Welcome Bonus again on CK

ptatohed — Tue, 25 Jun 2024 15:57:11 GMT

@7774x wrote:
@redpat wrote:
@ptatohed wrote:
@redpat wrote:
HP and have to open checking with an ordinary CC and a taxble SUB, waist of time.

I have done a few checking account offers from various banks and w/ an effective tax rate of 37% it's just not worth the time and aggravation anymore.

Waiting patiently for the Citi Strata Elite 100k sub worth at least $1,500 in travel and tax free.
The $400 bonus is not taxed. But thank you for thinking that it is and stating it like it's a fact instead of asking. But even if it was, in a 25% tax bracket, a quick and easy $350 clear for a quick and easy 3 purchase spend is still pretty incomparable. And a 2.2% CB non-cat and uncapped card is not 'ordinary'. But thank you for thinking that it is.
Nice math, $300 not $350.

Sounded like a banking account offer rather than a Credit Card SUB because you don't need to use the card for the SUB, debit card triggered the SUB, you have to open an account to get the SUB and it's deposited into the checking account. Banks do issue 1099-int on banking offers.

Does UpGrade still require a self photo of applicant & send along as part of application?

I did not have to do that.

Re: upgrade cards have a $400 Welcome Bonus again on CK

ptatohed — Tue, 25 Jun 2024 15:59:27 GMT

@GatorCowboyLion wrote:
Very interesting card! Very similar to the Citi Custom Cash, but with $3k per quarter spend limit. I much prefer quarterly over monthly and annual over either. Plus $3k is double the cumulative total allowed for CCC. This allows for a large purchase, for example, spend $3k, take your $150 cb and sock drawer the card till next quarter.

Too bad I have poor approval chances, I know it's just sp, but I'm in the garden anyhow, 2/6 from SYW and altitude connect. I have mid 700s scores. I wonder what their target customer base is. I think the play would be to snag the $400 with the triple card and use it for healthcare bills and then get this one second. Very interesting, thanks for bringing it to our attention Potato! And don't mind redpat, none of the rest of us do, he just likes to take a dump in every comment thread.

Wow, I did not know about this 5% card. Wow, very tempting. Thanks GCL.

Re: upgrade cards have a $400 Welcome Bonus again on CK

ptatohed — Tue, 25 Jun 2024 16:04:50 GMT

@Anonymous wrote:
@GatorCowboyLion wrote:
Very interesting card! Very similar to ....
Just pointing out that this isn't a normal Credit Card. It has day 1 interest / no grace period.

Here is a short thread from bogleheads about it

I have never paid interest. I have the EarlyPay feature turned on to pay my statement balance in full. You don't have a traditional grace period but there is a little something. EarlyPay pays your balance in full 2 days after the statement closes with no interest charged. So, your 'grace period' is Day of Purchase to Statement Close Date + 2 Days.

Re: upgrade cards have a $400 Welcome Bonus again on CK

ptatohed — Tue, 25 Jun 2024 16:07:34 GMT

@Wu-Credit wrote:
@GatorCowboyLion wrote:
Very interesting card! Very similar to the Citi Custom Cash, but with $3k per quarter spend limit. I much prefer quarterly over monthly and annual over either. Plus $3k is double the cumulative total allowed for CCC. This allows for a large purchase, for example, spend $3k, take your $150 cb and sock drawer the card till next quarter.

Too bad I have poor approval chances, I know it's just sp, but I'm in the garden anyhow, 2/6 from SYW and altitude connect. I have mid 700s scores. I wonder what their target customer base is. I think the play would be to snag the $400 with the triple card and use it for healthcare bills and then get this one second. Very interesting, thanks for bringing it to our attention Potato! And don't mind redpat, none of the rest of us do, he just likes to take a dump in every comment thread.
Those 5% categories are sweet. Utilities and Pet Care are two other options: https://www.upgrade.com/upgrade-card/my-five/categories/

@ptatohed can you please share how to avoid interest on these nontraditional cards?

@Wu-Credit , see previous post regarding EarlyPay.