<p>I recently became a member of Upromise. I was wondering what experiences other parents have had with this. Thanks.</p>
<p>I've been a member for about 4-5 years. I only have about $150 in my account, but I figure that's at least a book (or two, if I'm lucky!)</p>
<p>I've been collecting Upromise pennies, and occasional dollars, for several years now. All my credit cards are signed up with them, but the sum total of the accumulated purchases comes to around $120, enough to help with books some semester but not much more.</p>
<p>WARNING: Read the fine print. In order to take the money out of your account, you either need to set up a 529 account through them (nope, we already had one), or follow some very complicated instructions about how you can transfer the money to an existing 529. They don't make it easy to find this information, either: I wrote to them several years ago when I couldn't find withdrawal info on the website and I've kept the email they sent me in response.</p>
<p>I've been signed up for several years and have accumulated about $1400. The funds are transferred automatically to an existing 529 periodically. All my credit cards and drugstore cards are registered with them, and 2 of our 3 credit cards are Upromise through Citibank. If you start doing online shopping through their website, stores I use regularly, like Lands End, LL Bean, and Upromise contribute a percentage of purchases, and they often have a coupon as well. Much of the contributions, maybe most of them, resulted from my charging work-related travel and big-ticket items like computers to my personal credit cards and getting reimbursed.</p>
<p>Mootmom, they must hae changed their instructions for the 529 transfers, because it was easy a few years back. It's been a painless way to add to the 529s for us. We don't change our spending patterns at all, but some of the restaurants we use, Shop Rite, and catalog shopping $$ just gets deposited. Upromise is similar to frequent flier miles from selected retailers just adding up with no effort on our part.</p>
<p>It is not a problem at all to pull the $$ out. You simply send them a letter (info in on their website) and they send you a check. We've gotten close to $500. Only catch-- they release the funds quarterly, sot you have to time it right.</p>
<p>mootie-
They've made it even easier-- here's the link to the printable form to request a check <a href="https://lty.s.upromise.com/pdfs/fund_withdrawal_request.pdf%5B/url%5D">https://lty.s.upromise.com/pdfs/fund_withdrawal_request.pdf</a></p>
<p>Well then, that's a good thing! Thanks for starting this thread, sonssecty, I'm glad for the new info, LOL!</p>
<p>You're welcome, mootie:)
Print off that letter and send if off to PO Box 55555 (I love that address) in Boston- and you'll get a check cut in a few weeks. By the way, what's my commission/finders fee?? :D</p>
<p>My brother asked me years ago to sign up for Upromise and designate his children as beneficiaries. I told him at the time, that since my youngest had not yet started college that I would do it for him first. Well, said child has graduated from college so I changed it to my brother's children instead. I think there's a grand total of about $100 in it. I have all my major credit cards registered, as well as my grocery store and pharmacy cards. And we spend A LOT on our credit cards as my husband travels on business and we get reimbursed. </p>
<p>I'm not about to change my spending habits for this and figured what he gets is a bonus. But certainly doesn't seem worth the effort to me.</p>
<p>Upromise is a big marketing outfit. The 529 stuff seems decent enough but now they partner with SallieMae.</p>
<p>Sure it's a marketing outfit. But it really is an effortless way to put a few bucks in your 529. I don't alter any spending patterns. If I buy a bag of pretzels at the grocery store, maybe 7 cents is put in my account. Another 11 cents for a jar of peanut butter. Three dollars afater the family eats at a local restaurant. Painless. We've earned about $500 in two years & all I had to do was spend a few minutes on line registering my existing 529s and credit/grocery cards. They always send me e-mails telling me of another retailer who is now part of the network. I just delete them. Perhaps it would be wise to pay attention, but I'm not going to buy a Dell computer rather than a Sony because ten bucks will be deposited into my kids' 529s. For the type of consumer who is a coupon clipper (I'm too lazy) I bet Upromise $$ builds up rather quickly.</p>
<p>I used to use a UPromise Citibank Mastercard and the extra bucks added up pretty fast - it wasn't a fortune, but it added up to several hundred dollars over about 3 years. But I quit using that card because I didn't like the interest rate hikes. Now the only UPromise bucks I get are the dribs and drabs that I get at the supermarket and drugstore when I buy certain brands. I shop online a lot but I usually forget to log in through the Upromise portal so I lose out on the rebates :(</p>
<p>I never thought it was worth doing cause I looked at the "UPromise" stickers on the shelves at the grocery store and they all seemed to be more expensive brands. So I buy the cheaper store brands and save money. I wasn't about to do the math to see which would actually save me a few more pennies.</p>
<p>So what if it is marketing? It is free money. Not sure why there is any negativity about this. I see it as a win-win situation. If you don't want the companies to know your shoppig habits, then don't get the little discount barcode things you put on your keyring. I don't personally care about that- this is not one area where privacy is of concern to me. The supermarkets send me targeted coupons which I can use (like SS I am too lazy to clip coupons in general, but these come in the mail so the envelope goes in my car). I don't buy a thing I wouldn't otherwise buy when shopping (and I am a big bargain shopper-- buy storebrands or whatever is on sale). I do try to remember to use the link when shopping on line (again, only for things I am already planning to buy). I got a Upromise creditcard in my s's name, which he uses only for things I will pay for (like airline tickets home). There are restaurants that give extra bonus Upromise money (thats always a nice surprise) and for a while, many years ago, my kids got into buying a $5 gift certificate from McDonalds (they were giving extra upromise money for those) and then turning right around and spending the $5 on a burger,fries and a drink! (That was my entrepreneurial older s). Other than that little stunt, no special effort has been put into the Upromise account, and as I said, we've gotten about $450 back from them.</p>
<p>my mom has one for my sister and i'm registered under it. all you have to do is.. when you're ready to make a purchase online, start at upromise.com and see if they are listed. if so, start your purchase from there and a percentage goes to the account. My sister has quite a lot of money in hers. I don't remember exactly how much though. I do know that the last time my mom bought a new car a chunk of money got put in her upromise for it. </p>
<p>just for example, we do a lot of shopping on best buy and i think they donate 2%. In recent months we bought a laptop, a computer, and a refrigerator from there. I bought wedding gifts for three sets of registries at target and all of those i did via upromise. Which I believe does 3%.</p>
<p>it's not like you have to do anything extra to get the money or go out of your way.. just start your shopping from that page.</p>
<p>Fendergirl-
Wow- you got a car paid for with a % back on Upromise? That must have been a goldmine! I believe they also do it with some real estate companies. That could be a TON of money back!</p>
<p>Some online companies give as much as 6%, and there is usually a coupon for a discount or free shipping, as well. I certainly don't buy anything just to get the Upromise $$, but I buy almost everything online these days anyway, and if I start with their link, it usually costs me less.</p>
<p>Yup, NYMomof2- some companies are very generous with Upromise. I suspect there is a tax incentive in it for them, to give $$ for educational purposes. Sounds like we do the same thing-- find online coupons for discounts and/or free s&h- and then order thru the U promise for additional money back. They practically pay us to buy the stuff! :)</p>
<p>jym & Fender: I think I'll stop deleting those Upromise e-mails & pay more attention!</p>