this is not a traditional cc, posting here for data points because it is marketed as an Upgrade Cash Rewards Elite Visa, with "2.2% cash back on all purchases after you pay them back."
$30,000 limit @ 9.97% apr
hard pulled TU @ 811
applied and instantly approved 9/16, but the account didn't show up on the upgrade website and the hard pull alert until ~10 hours later. they offer a virtual card number before you receive the physical card or balance transfer, but I did not proceed with either.
I was kind of surprised by the amount and I guess the apr isn't too bad even though I will never use the account, haven't even activated the cc. I always wanted a 15k nfcu cloc, but never got the chance to apply before they maxed the limit low, so I guess here it is.
my last inquiry had just dropped in august and I have no use for this, but the temptation of the $600+ in bonuses was too much for me (thanks DoC). felt kind of bad about this decision until the bonuses showed up in the checking account today.
| 9/16 | instantly approved for cash rewards elite visa |
| 9/17 | applied for checking account using referral |
| 9/21 | approved for checking account |
| 10/7 | 3 purchases made with checking debit card |
| 10/13 | 100 refer a friend award |
| 10/13 | 100 refer a friend award |
| 10/14 | 500 upgrade card welcome bonus |
yes, thanks for the info. the biggest quirk seems to be the terms language regarding interest accrual.
| pay early to avoid interest if you choose to pay off your statement balance in full two (2) days after your statement closing date, you will avoid daily interest accrual on transactions for you next statement period. |
| accruing interest if you do not choose to pay off your statement balance in two (2) full days after your statement closing date, interest will accrue daily. your monthly payment due date is twenty-two (22) days after your statement closing date. no interest will accrue during your first statement period. you can pay off your line at any time to eliminate further daily interest accrual. |
I don't pay interest with my other cards if a balance reports as long as I pay before the next due date. so if I do use this I wil just try and pay before statement closing. on the surface definitely not too many downsides for a loc. even my nfcu platinum is 8.24% apr and +2% for no fee cash advance but capped and 1/3 my limit.
Will it still report if you don't activate it?
@Zoostation1 wrote:Will it still report if you don't activate it?
Upgrade cards will only report if you use them. I have two - the older one I never used and it has never reported to any of the credit bureaus, but the newer one that is in my signature has been used and that one does report.
Congrats on your Upgrade Cash Rewards Elite approval
Congrats! So how do these report? Like a personal loan with full balance or like a credit card reporting only the amount used? Thanks in advance.
