Secured OneCard Launch

San Francisco — December 13, 2023

Today, we launched Secured OneCard, a secured version of our popular Upgrade OneCard™, designed for consumers with no or little credit history.

Secured OneCard enables users who do not qualify for an unsecured card to access all the features of Upgrade OneCard™, including Pay Now and Pay Later options, up to 3% cash back on many everyday purchases such as restaurants, gas stations, and drug stores, and up to 2% cash back on all other purchases as well as comprehensive fraud protection.

Overview of Features:

• Secured by funds kept in a savings account that earns 5.07% APY
• Pay Now and Pay Later options
• Cash back up to 3% on everyday purchases such as restaurants, gas stations, and drug stores, and up to 2% on all other purchases
• 24/7 access to the funds securing the card in excess of the card balance (i.e. funds that aren’t being held to pay off purchases)
• Comprehensive fraud protection
• Secured OneCard reports to major credit bureaus, enabling users to build their score as they use the card
• A minimum initial deposit of $200 is required to activate the account; there is no ongoing minimum after that deposit
• Designed to help users build their credit history and gain access to unsecured credit
• With responsible usage, cardholders will have an opportunity, in the future, to “graduate” to unsecured OneCard without having to reapply for a new card or change card numbers
• 19.99% fixed APR

“We believe Secured OneCard is an ideal product for tens of millions of people who haven’t yet had a chance to build a credit history,” said Renaud Laplanche, co-founder and CEO at Upgrade. “While building credit for the long term, Secured OneCard also provides high cash back rewards and APY, giving users immediate and tangible benefits, putting more money into their pocket today.”

Upgrade customers who sign up for a Rewards Checking Plus account will be given the option to apply for the Secured OneCard if eligible.