By Kathryn Flynn October 11, Get rewarded for dining out : Link a credit or debit card to your Upromise account and earn 2. The reward doubles when you pay with a Upromise Mastercard. Use the Upromise Mastercard : Earn 1. How much can you really save for college with Upromise?
Recommended Articles. However, in order to take advantage of the free two-day shipping, cardmembers need to activate a ShopRunner account and sign in before paying at participating online retailers.
For the most part, security features with the Upromise Mastercard are related to the standard security seen with Mastercard protection. This includes no liability for fraudulent purchases and card replacement for lost or stolen cards.
Additionally, there is free FICO Score access online with this card, which can make it a little easier to stay on top of a credit report and spot problems that might result in a credit card drop. By linking to a popular investment vehicle, the plan, the card offers an appealing way to save, enhanced with some attractive ways to increase the amount of cash back. In terms of ongoing use, the Upromise Mastercard's 1. For those looking for higher cash back potential, other credit cards might provide better opportunities.
Additionally, for those just looking for a balance transfer deal plus straight cash back, the Citi Double Cash card might be a better choice. However, if that plan bonus seems too good to pass up, it might be worth considering using the Upromise Mastercard as a supplemental card. Employing the Upromise Mastercard in conjunction with other cards provides a potential for higher overall cash back rewards while still working toward a goal of college savings.
This will be a great help, when combined with the power of compounding returns, to increase the value of the account by the time he goes to college. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page.
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Your Money. Personal Finance. Your Practice. Popular Courses. Credit Cards Rewards Cards. Upromise Mastercard Review overall rating 3. Verified by Michael Rosenston. Updated October 04, The no-annual-fee card offers increased rewards potential when earnings are invested in an eligible college savings plan. The Upromise Mastercard offers a creative way to save for college via a college savings plan When earning traditional cash back, the card returns 1.
But for those who link an eligible college savings account, the reward earning bumps up to 1. The card offers a few additional benefits beyond an easy way to automate college savings goals and earns decent rewards when an eligible account is linked. After that and for balance transfers that do not post within 45 days of account opening a There is no introductory APR on purchases. For some, the ability to auto-save for college without cashing in rewards first will be worth a lower average rewards payout.
This card will earn 1. Earn 1. Rewards are redeemed by transfer from an Upromise account either a cash account, equal to 1.
To determine the rewards potential of the Upromise Mastercard we have to consider what an American household might spend on a credit card each year. Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. Those who link the card to an eligible college savings account and earn 1. The standard APR for purchases and balance transfers is One potential caveat: Although you can also redeem your earnings for a statement credit or other options besides a Fidelity deposit account, you cannot take those rewards as straight cash back.
The Citi Double Cash is a great example of a card that outshines the Upromise card when it comes to cash-back potential. The Upromise Mastercard offers a convenient way to put cash-back rewards toward an eligible college savings plan account.
But those interested in maximizing return toward any financial goal, including toward investment for college, there are other cards that will yield more. Chauncey grew up on a farm in rural northern California. At 18 he ran away and saw the world with a backpack and a credit card, discovering that the true value of any point or mile is the experience it facilitates.
He remains most at home on a tractor, but has learned that opportunity is where he finds it and discomfort is more interesting than complacency. Robin Saks Frankel is a credit cards and personal finance writer for Forbes Advisor. Previously, she covered credit cards and related content at other national web publications including NerdWallet, Bankrate and HerMoney.
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Last updated September 9, All reviews are prepared by NextAdvisor staff. Opinions expressed therein are solely those of the reviewer.
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