Upromise sent out a press release last week announcing that when you use their Upromise credit card, they’ll give you a 3% cashback bonus (usually only 1%) in addition to whatever the rate is at their participating merchants, which can be up to 25% cashback.
I say “cashback” but of course it’s your option as a Upromise member to withdraw your account balance as cash or to deposit it into a 529 plan for your child or grandchild’s college expenses.
I scoped out the deal on their credit card this morning and it really has some great benefits (I talked my husband into agreeing to sign up, and he never gets excited about this sort of thing!):
- No annual fee
- No interest for the first 7 to 10 billing cycles (depending on your creditworthiness) — charge Christmas gifts now and pay later with no interest!
- Interest rate starting at 12.99% (depending on your creditworthiness)
- $50 welcome bonus after first qualifying transaction
- 1% cashback/college savings on all purchases, all the time, with NO cap — unlimited earnings!
- Additional 2% CB/college savings (plus the above 1%) on purchases made through Upromise
- 10% CB/college savings at participating grocery and drugstores (and eCoupons are available, too!)
Then you can choose from one of two options for your card:
- 2% CB on gas purchases from Exxon or Mobil, or
- 10% additional CB on eligible purchases from Upromise Dining restaurants
Remember, if you carry a balance on your card, any interest you have to pay will reduce the value of these benefits, so only apply if you plan to pay the sucker off in full every month (at least, after the 7 to 10 free interest period for new cardholders ends).
Kiplinger’s Personal Finance named the Upromise Credit Card one of the best cards for the way you spend.
Thanks to Debby at Upromise for the heads-up! If you’re not already a member of Upromise and would like to join, please click here (my affiliate link — thanks)!
p.s.: Even if you don’t shop through Upromise, you can play their DailySpin2Win game for a chance to win free prizes — but you have to be a member to play!