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Upgrade Premier Savings 4.81% for deposits >$1000

-7 Deal Score
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Upgrade inc is offering 4.81% APY for any deposits greater than $1000. Deposits are FDIC insured upto $250k.

https://www.upgrade.com/premier-savings/
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Created 05-17-2023 at 07:21 PM by tarunvarun
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Joined Nov 2010
L4: Apprentice
> bubble2 457 Posts
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grayguru
05-19-2023 at 04:28 AM.
05-19-2023 at 04:28 AM.
From their About Us: " Upgrade is a financial technology company, not a bank."

The credit cards & checking account have a cash-back feature, but nothing better than many similar accounts from actual banks.
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Joined Oct 2007
L6: Expert
> bubble2 1,448 Posts
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dvdapex
05-19-2023 at 05:01 AM.
05-19-2023 at 05:01 AM.
I had an Upgrade account earlier this year and their app and site were so messed up you couldn't jump through their dozens of hoops to get your money out. Their csrs and escalation manager were powerless - they were easy to contact, but could do absolutely nothing.
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Joined Mar 2011
L2: Beginner
> bubble2 78 Posts
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Original Poster
tarunvarun
05-20-2023 at 03:13 PM.
05-20-2023 at 03:13 PM.
Quote from grayguru :
From their About Us: " Upgrade is a financial technology company, not a bank."

The credit cards & checking account have a cash-back feature, but nothing better than many similar accounts from actual banks.

Yes, they are not a bank but their deposits are backed by Cross River Bank (CRB) and FDIC insured.

Also, I posted this deal on one of the best Savings rate (4.81%) out there not for their other products. Agree, their credit card products are average and common but the way you can pay them off (like a personal loan with lower interest) is unique and can save ton of money.
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Last edited by tarunvarun July 13, 2023 at 01:44 AM.
Joined Mar 2011
L2: Beginner
> bubble2 78 Posts
35 Reputation
Original Poster
tarunvarun
05-20-2023 at 03:16 PM.
05-20-2023 at 03:16 PM.
Quote from dvdapex :
I had an Upgrade account earlier this year and their app and site were so messed up you couldn't jump through their dozens of hoops to get your money out. Their csrs and escalation manager were powerless - they were easy to contact, but could do absolutely nothing.

Good to know. So far I haven't had an issue, will keep an eye out and plan accordingly to get the money out. Thanks !
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