Upgrade Rewards Checking Preferred Review

Up to 2% cash back on everyday debit card purchases. Independent Upgrade Rewards Checking Preferred review: 4.4/5 for checking.

By Michael Hewitt, Founder & Editor-in-Chief. Rates last checked September 29, 2026.

Our verdict

Debit card spenders who can send Upgrade a paycheck get the most: 2% cash back on gas, restaurants, drugstores, utilities and streaming requires $1,000+ in monthly direct deposit and is capped at $500 a year. Without that deposit, the account earns no cash back. There are no monthly, overdraft or minimum balance fees. That deposit condition is the catch, and Upgrade isn't a bank, so Cross River Bank provides the banking.

Skip it if you can't route $1,000 or more in direct deposit to it each month.

About Upgrade Rewards Checking Preferred

Up to 2% cash back on everyday debit card purchases. Upgrade Rewards Checking Preferred is offered by Upgrade (banking by Cross River Bank). Our editorial rating is 4.4 out of 5.

Best for: Debit card cash back earners.

Editorial grade: A (composite score 88/100).

Highlights

2% cash back on everyday categories (gas, restaurants, drugstores, utilities, streaming); grocery stores are excluded
2% rewards are capped at $500 a year and require $1,000+ in monthly direct deposits
No monthly, overdraft, or minimum balance fees

What we like

One of the highest debit cash-back rates available
Active Account perks include discounts on other Upgrade products
55,000+ fee-free Allpoint ATMs

Where it falls short

No cash back at all without $1,000+ in monthly direct deposits
Not a bank, so banking is provided by Cross River Bank

Fees, minimums, and rates

Monthly fee: $0/month. Minimum to open: $0. Rates and fees last checked on September 29, 2026.

How we reviewed it

This is a desk review: we have not opened an account with Upgrade (banking by Cross River Bank). It is built from Upgrade (banking by Cross River Bank)'s published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Checking shortlist. Our bank-account reviews weight APY (30%), fees (20%), access and convenience (15%), account features (15%), trust and safety (10%), and customer support (10%). The rubric is the same for every brand.

Not a bank. Deposits are held at

Cross River Bank, FDIC certificate 58410: capital, loan quality, every office and the complaint record.

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Read our full editorial methodology for how we review products.