Fintech company Upgrade just announced a new credit card: the Upgrade Bitcoin Rewards Card, which is, technically speaking, an updated version of the company’s already existing rewards card. However, this time users earn 1.5% Bitcoin rewards on any purchase, as they keep making payments.
Upgrade, otherwise, a fintech-focused on providing credit for mainstream consumers worked with a few partners for the new card. Specifically, we’re talking about NYDIG, in charge of custody, trading, holding, and selling cryptocurrency, as well as Visa, the company offering its Signature card. The latter includes several benefits, such as both trip and baggage insurance, as well as purchase protection, and extended warranty coverage.
An offer that’s hard to ignore
According to an official statement, Upgrade is offering credit lines from $500 to $25,000 with the new Upgrade Bitcoin Rewards Card, according to your credit score. It’s also compatible with both Apple and Google Pay and, like other credit cards in the company’s portfolio, it doesn’t involve any monthly or late fees, nor returned payment fees.
“Upgrade Card is already delivering over $3 billion in annualized credit to consumers,” CEO and co-founder Renaud Laplanche said. “Starting today, anyone can apply for an Upgrade Bitcoin Rewards Card and enjoy the same affordable and responsible credit as with any Upgrade Card, plus the potential upside and fun of owning bitcoin.”
Joining the crypto economy
Even though this is not the first credit card with bitcoin rewards, it’s actually the only one that’s generally available. Applying for it doesn’t involve signing up on a waitlist while using the virtual card is possible immediately until you will receive the physical card in the mail.
“Crypto rewards introduce cardholders to a new asset class that is increasingly part of a consumer’s financial portfolio,” Terry Angelos, SVP and Global Head of Fintech at VISA said.
“Whether you’re a crypto enthusiast or just getting started, programs like the Upgrade Bitcoin Rewards Card offer an engaging and low-risk way to participate in the crypto economy.”
