Question on Upgrade Visa

[Red1Blue]

Does any have an Upgrade Visa Card. On Credit Karma Website says my chances of approval are very high.  Is it a good card. Does it grew.

[SouthJamaica]

---

@Red1Blue wrote:

Does any have an Upgrade Visa Card. On Credit Karma Website says my chances of approval are very high.  Is it a good card. Does it grew.

---

I don't know anything about the Upgrade card, but I can assure you that it is not a good idea to accept recommendations from the Credit Karma site.  When they tell you about your chances of approval, it's not meaningful.  It is merely advertising.  They often recommend to me a card I already have, or assure me I have good approval odds for something for which I've already been rejected.

You're better off joining a credit union and getting a card from them.  You'll never see a credit union card on Credit Karma, because they're not getting paid advertising from credit unions.

[coldfusion]

---

@SouthJamaica wrote:

---

@Red1Blue wrote:

Does any have an Upgrade Visa Card. On Credit Karma Website says my chances of approval are very high.  Is it a good card. Does it grew.

---

I don't know anything about the Upgrade card, but I can assure you that it is not a good idea to accept recommendations from the Credit Karma site.  When they tell you about your chances of approval, it's not meaningful.  It is merely advertising.  They often recommend to me a card I already have, or assure me I have good approval odds for something for which I've already been rejected.

You're better off joining a credit union and getting a card from them.  You'll never see a credit union card on Credit Karma, because they're not getting paid advertising from credit unions.

---

Or conversely tell you that you have poor odds of approval for cards you already hold.   That just validates that the odds are determined based upon general demographic-based information and not your own specific credit profile. 

As for the Upgrade Visa it isn't really a credit card, it's more like having a debit card backed by a personal loan and I believe it reports as an installment loan and not a typical credit card reporting as a revolving loan.   

Personally I'd avoid it. 

[Red1Blue]

---

@SouthJamaica wrote:

---

I don't know anything about the Upgrade card, but I can assure you that it is not a good idea to accept recommendations from the Credit Karma site.  When they tell you about your chances of approval, it's not meaningful.  It is merely advertising.  They often recommend to me a card I already have, or assure me I have good approval odds for something for which I've already been rejected.

You're better off joining a credit union and getting a card from them.  You'll never see a credit union card on Credit Karma, because they're not getting paid advertising from credit unions.

---

Thanks @SouthJamaica I looked up about the Upgrade Card and I have decided to pass it. It is more like an installment loan credit line tied to a card. Not worth it. It is been about 12 months since my last account. I am gardening now. My scores are still low and it will be couple of more years for some of the baddies to clear from reports and gain some scores. I am not looking to add new cards but I am planning on applying for Mission Lane card in August 2021. After that wait for another 12 months and apply for Amex Biz card in August 2022. Let us see what future brings.

[Red1Blue]

---

@coldfusion wrote:

---

As for the Upgrade Visa it isn't really a credit card, it's more like having a debit card backed by a personal loan and I believe it reports as an installment loan and not a typical credit card reporting as a revolving loan.   

Personally I'd avoid it. 

---

Thanks @coldfusion I looked the Upgrade Visa Card and decided to pass it. It is not worth it for me.

[Red1Blue]

I am wondering those of you who applied and got approved for upgrade card would share the details about the approval and experience. I am thinking of applying for some time in 2022. Just want to know if you have any information to share. Thanks

[FinStar]

Are you referring to Upgrade or Upstart? I wasn't aware that Upstart offered credit cards, unless this is something by invite or a beta program.

[Red1Blue]

---

@FinStar wrote:

Are you referring to Upgrade or Upstart? I wasn't aware that Upstart offered credit cards, unless this is something by invite or a beta program.

---

Thanks @FinStar looks like I am confused. You are right Upgrade card. I was reading on the forum, though not related d  looks like there is also upstart loan.I am editing my thread.

Here is the link I found.

https://ficoforums.myfico.com/t5/General-Credit-Topics/Upstart-Loan-takes-academics-into-considerati...

[FinStar]

---

@Red1Blue wrote:

---

@FinStar wrote:

Are you referring to Upgrade or Upstart? I wasn't aware that Upstart offered credit cards, unless this is something by invite or a beta program.

---

Thanks @FinStar looks like I am confused. You are right Upgrade card. I was reading on the forum, though not related d  looks like there is also upstart loan.I am editing my thread.

Here is the link I found.

https://ficoforums.myfico.com/t5/General-Credit-Topics/Upstart-Loan-takes-academics-into-considerati...

---

Ok gotcha.  Thanks for the clarification/update. I guess both of them start with a "U" so I can see how that got mixed up 

So, the Upgrade Visa topic has been discussed extensively and there seems to be different variants/products.  Also, it appears you started a topic about it less than a couple months ago and decided to pass on it (see posts upthread).

Have you looked into any of these other threads? (some of them are fairly recent):

https://ficoforums.myfico.com/t5/Credit-Cards/Upgrade-Visa/m-p/6024482

https://ficoforums.myfico.com/t5/Credit-Cards/New-Upgrade-Triple-Cash-Rewards-Visa-Card/m-p/6292575

https://ficoforums.myfico.com/t5/Credit-Cards/New-Upgrade-1-5-Bitcoin-Rewards-Visa/m-p/6389660

https://ficoforums.myfico.com/t5/Credit-Cards/Upgrade-Visa-Card-experience/m-p/5995475

[Red1Blue]

---

@FinStar wrote:

---

 Also, it appears you started a topic about it less than a couple months ago and decided to pass on it (see posts upthread).

Thanks @FinStar You are right. Looks like I looked at this product few months ago and passed it. Looks like this is a LOC like Grain and other products. Looks like I am better off getting an LOC from a Bank and use it instead of applying for Upgrade. I am gardening now and froze all 3 reports. If I apply for some thing it would be some time after August 2022. Let us see what future brings.