American Express vs. Upgrade
Compare rates, requirements, and features side-by-side to find the best option for you.
American Express
High Yield Savings Account
3.40%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppShow Fine Print & Trends Hide Details
American Express
High Yield Savings Account
Upgrade
Premier Savings
3.05%APYDec 10, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Upgrade
Premier Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
American Express vs. Upgrade Savings Calculator
American Express earns $220.9 more than Upgrade.
American Express
High Yield Savings Account
Savings Breakdown
- Interest Earned+$2,050.50(10.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,050.50
Upgrade
Premier Savings
Savings Breakdown
- Interest Earned+$1,829.60(9.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,829.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing American Express vs. Upgrade
Why American Express?
- ✓Higher potential APY (3.40% vs 3.05%) on all balances
Why Upgrade?
- ✓Higher rated Android app (4.5 vs 3.6)
— Key Feature Differences —
Better Returns at $10,000
American ExpressAmerican Express's High Yield Savings Account earns more on smaller deposits (approx. $340 vs $305/yr).
Better Returns at $25,000
American ExpressAmerican Express's High Yield Savings Account pulls ahead with larger amounts (approx. $850 vs $763/yr).
Best for Simplicity
American ExpressAmerican Express's High Yield Savings Account offers 3.40% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, American Express's High Yield Savings Account pays $35 more interest on a $10,000 balance than Upgrade's Premier Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
American Express offers a High Yield Savings Account with a competitive APY of 3.40%, making it the top choice between the two banks. This account requires no minimum deposit or maintenance fees and does not mandate direct deposit, enhancing its appeal for simplicity. In contrast, Upgrade's Premier Savings account provides a lower APY of 3.05%, also with no direct deposit requirement but a minimum balance of $1,000. Both accounts are online-only and FDIC insured, but American Express stands out with its higher yield.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Stop Losing Interest
See who beats both American Express and Upgrade.
| Feature | American Express | Upgrade |
|---|---|---|
| APY | 3.40% Verified: 12/10/2025 ↘︎ 0.10%90d Change | 3.05% Verified: 12/10/2025 ↘︎ 0.97%90d Change |
| Product Name | High Yield Savings Account | Premier Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $1,000 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android3.6 | iOS4.9 Android4.5 |
| BBB Rating | F | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | American Express | Upgrade |
|---|---|---|
| High Yield Savings Account | Premier Savings | |
Current APY | 3.40% | 3.05% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.3 | -10.4 |
Days Since Change | 14 | 39 |
11-Month High | 3.80% | 4.14% |
11-Month Low | 3.40% | 3.05% |
Adjustments / Mo | 0.37 | 0.28 |
Volatility Score | 0.031 | 0.105 |
How to read these metrics(Click to expand)
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