UPromise Mastercard

Parents Corner
1

<p>Parents, have you or your son/daughter ever used the UPromise Mastercard? I'm considering it to pay down on my current loans in repayment (interest rates on loans now are <4%, thank goodness). I would like to hear anyone's experiences with UPromise.</p>

<p><a href="https://lty.s.upromise.com/secure/partners/bac/cardCenterApplicationGas.do?cx=TextLinks_ACQ25_BACBnrMHPChecklist&cm_re=BAC1-_-TextLinks-_-BACBnrMHPChecklist_ACQ25&scKey=site_mhp_checklist%5B/url%5D"&gt;https://lty.s.upromise.com/secure/partners/bac/cardCenterApplicationGas.do?cx=TextLinks_ACQ25_BACBnrMHPChecklist&cm_re=BAC1-_-TextLinks-_-BACBnrMHPChecklist_ACQ25&scKey=site_mhp_checklist&lt;/a&gt;&lt;/p>

2

<p>Does anyone know how does it work?</p>

3

<p>I had a Upromise mastercard for many years (recently cancelled because they switched from Citibank to Bank of America and I despise Bank of America). I paid it in full so don’t know anything about the credit side of it. We have been very successful with Upromise. I was able to give my son $2200 and just received an additional check for $700 from Upromise. A good portion of the money was received from credit card purchases. There are bonuses for mobil/exxon gas purchases and some grocery store items which also add to the total. I use priceline a decent amount and get additional percentages for those purchases as well as overstock which we’ve used for college textbooks (excellent for english and history).</p>

<p>Hope this helps.</p>

4

<p>We’ve used it for the past few years. You get a “points” for each purchase with it, which you can redeem for cash to pay for college. It’s a pretty good deal.</p>

5

<p>The Upromise card is my major credit card. I signed up several years ago–you can link it to grocery stores, gas stations, . . . Also, a large number of e-tailers are affiliated. You go to upromise.com first, then to the e-tailer’s site, and some percentage (usually 1%-6%) is credited to your Upromise account. They offer help setting up a college savings plan, but I just let the money sit there. Last summer I had enough in my account to buy my oldest’s Macbook for college. (Also–no strings on what you spend the money on.)</p>

6

<p>Wow, thanks everyone. Should I sign up for the UPromise Mastercard Gas & Grocery Awards card?</p>

7

<p>yes- definitely sign up for the rewards programs. I have the Upromsie card, and gave one to each of the boys, but we dont use it all that much (I prefer the rewards programs I get from AmEx and Discovercard). I never considered paying a mortgage with a credit card. What woudl be the benefit of this, unless the interest on yoru cr card is less than your mortgage interest (plus the rebate youd get on upromise).</p>