Upromise Mastercard Review – Earning Cash For College
This is my review of the Upromise Mastercard. I actually own this card and I think it is a good one if you like to shop online and earn some cash back for your college savings.
If you are unfamiliar with Upromise, then it is a simple program that allows you to earn cash back for shopping online at select retailers, eating and dining out, and grocery shopping. I have had a Upromise account for years. While you might not earn a lot, you can certainly add it up over time. One feature that makes Upromise different is that the cash that you earn from your purchases can be automatically transferred to a 529 college savings account. Upromise doesn’t have all of the possible 529 accounts, but they can also send you a check. I have earned a few hundred dollars so far by buying things that I normally would.
If you really want to earn more money with Upromise, then enter the Upromise Mastercard. This Upromise credit card offers a tiered cash back option depending on where you are making a purchase. You can use it anywhere Mastercard is accepted. While you earn cash back on every purchase you make, you really make the most money when you make purchases online through your Upromise account. You can earn 10% or more on your online purchases at selected retailers. The list of retailers is quite long, so you are bound to find a retailer that you normally shop with.
Upromise Mastercard Cash Back
As I indicated the Upromise credit card offers a tiered cash back option depending on the type of purchase. Here is what they are currently offering.
So, just in case you can’t see the above image referencing the cash back options, here the Upromise Mastercard cash back options:
- Earn 5% cash back on eligible online shopping purchases through Upromise.com
- Earn 4% cash back at Upromise participating restaurants
- Earn up to 3% cash back on eligible gas purchases at Exxon or Mobil locations
- Earn 2% cash back at eligible movie theaters
- Earn 1% cash back on everything else
Upromise Mastercard Features
As I indicated, I have the Upromise Mastercard. I use it for select purchases, but almost always use it when I am online. The cash back option adds up fast. So far, the most I have received in cash back was 18% of the purchase. I can’t complain there! On top of cash back, here are some of the other features of the Upromise Mastercard.
- Contribute your earnings to a Upromise 529 college savings plan.
- You can use the funds to deposit into a Sallie Mae high-yield savings account.
- If you have a student loan serviced by Sallie Mae, you can use the cash back earnings to pay down your student loan debt.
- If you don’t have an eligible 529 account, then you can get a check every quarter as long as you reach the $10 threshold.
The Upromise Mastercard does not currently come with an annual fee, so all the cash you get back will be yours. The card is issued by Barclaycard, which also has some of the best rewards credit cards, like the Arrival World Mastercard.
If you are looking for a cash back rewards card and need to start saving for college, then check out the Upromise Mastercard. They are providing a bonus of $50 when you first use your card. There is no set purchase amount for the bonus, but you do have to use the card within the first 90 days of opening an account.