Upromise MasterCard Earns Users Millions in College... - Products News


Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Products » Upromise MasterCard Earns Users Millions in College Savings

Upromise MasterCard Earns Users Millions in College Savings

The content is accurate at the time of publication and is subject to change.

Upromise cardholders earned over $50 million in cash back for college expenses in 2014. Since its launch, the program has earned members $450 million. With the Upromise MasterCard people earn cash back on all their purchases, whether buying groceries or school books, but they also earn up to 10% on key purchases at over 850 retailers and travel partners that are part of Upromise.com.

The card is designed to provide people with a way to use their rewards to pay for college or school expenses. “The Upromise MasterCard gives our members an opportunity to make the most of their everyday spending and accelerate what they’re putting away for college,” said Erin Condon, president of Upromise by Sallie Mae.

The college savings card

The Upromise MasterCard, which is issued by Barclays, allows people to accelerate cash back rewards on key purchases – earning 5% back when using the Upromise online shopping network, which includes brands like Staples, Groupon, Macy’s and Best Buy.

They also earn 4% back when dining out, 2% when heading to the movies, and 1% on everything else. There is no limit to how much cash back can be earned by users on eligible purchases.

New users earn a one-time cash back bonus making your first purchase within 90 days of opening the account. If cardholders open a high-yield Sallie Mae savings account they earn interest, and also get a 10% annual match on your Upromise earnings.

There is no annual fee for this card and it includes fraud protection. It also includes complimentary access to FICO credit score.

Cashback for class and books

Cashback can be used to save for college, and make it easier on families to meet their expenses. “Paying for a college education can feel overwhelming,” said Kirsten Osland, managing director, Financial Institution & Affinity Partnerships, Barclays US. “Our Upromise cardmembers have found that their credit card helps make saving for college simple because they earn cash back on the things they are already buying and doing every day.”

Sallie Mae is a publicly-traded corporation headquartered in the U.S. They primarily service and collect private loans for education.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Three New Credit Cards from Sallie Mae
Three New Credit Cards from Sallie Mae

Posted: May 16, 2019

When people hear or read the name Sallie Mae more than likely they think about student loans because the company has been in that industry for years, but now they are looking to expand their reach and moving into the credit card business…. Continue reading

Barclays Removes Price Protection
Barclays Removes Price Protection

Posted: October 14, 2019

Barclays is making changes to their credit card benefits and plans to remove price protection on November 1, 2019.
The price protection benefit allows you to get (aka refund) the price difference if the price of a purchased item goes down… Continue reading

Two New Credit Cards from Capital One and Walmart
Two New Credit Cards from Capital One and Walmart

Posted: September 25, 2019

Capital One and Walmart are will be rolling out two new credit cards. Individuals who apply for and get the Capital One Walmart Rewards MasterCard will be able to use it to shop anywhere that accepts MasterCard, while those with the… Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Perfect credit not required for approval; we may approve you when others won’t
For Fair/Bad Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!