As with many credit products, one is much better off going to a credit union.
The basic marketing comparison is unfair, for the payoff example, and the rate is really high for this sort of borrowing.
No rewards, as noted by others, makes it doubly insulting.
This belongs in the category with Credit One and Black Card.
@Creditaddict wrote:
I’m not understanding what people don’t like about this especially before being invited for it🤔
Soft pull sounds great and posts are finding the process shady?
A HP fades quickly in scoring, so I don't consider that a factor in determining whether to apply for a credit product.
If one is always carrying credit card debt and paying interest from the moment of the charge, and could get the lowest APR for the Upgrade card, it would make sense as a means to transition to lower interest cost.
The problem with even the "always carrying a balance" scenario is, the better course is to try to stop using cards with balances, make space on cards with 3% or even 5% BT fees, and zero APR, to get those balances to a place they can be paid down quickly. The ~$500 per month estimated payment on the Upgrade card should be applied to a zero pct BT offer balance. And use other cards on PIF mode. With cash back or rewards.
Shady? No, it's all in the disclosures ( well, not the option to find another 0% BT card ) so it's above board, just a really bad deal.
