Comments on: Upromise Credit Card Review http://creditcardforum.com/blog/upromise-credit-card/ our rants and raves about credit card and financial news... Sun, 12 Feb 2012 19:01:11 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: jojo http://creditcardforum.com/blog/upromise-credit-card/#comment-25288 jojo Sat, 05 Nov 2011 16:55:04 +0000 http://www.creditcardforum.com/blog/?p=1405#comment-25288 I have the Upromise card, and when you couple it with their promotions, it can add up nicely - such as when we needed a new A/C unit - we bought thru Upromise, which was offering 11% cash back at Sears at the time when using the card, so we got about $30 cash back on it, Sears has a rewards program too, so we received points on the purchase for Sears as well. I don't use Upromise exclusively and pay it off in full each month, but you can also withdraw whats in your account and have them cut you a check, which they do quarterly. I would do this each year before Christmas and usually got about $100 each time. I recently opened the Sallie Mae savings account, and they give you a bonus each year (which is a percentage of your Upromise earnings). This past year, I got about $11 bonus to my Sallie Mae account, and that's not horrible considering they have a competitive rate, and it really was no extra work on my part. The $11 was the equivalent of about 2 mths. of interest since interest rates are so low, but every little bit helps. I have the Upromise card, and when you couple it with their promotions, it can add up nicely – such as when we needed a new A/C unit – we bought thru Upromise, which was offering 11% cash back at Sears at the time when using the card, so we got about $30 cash back on it, Sears has a rewards program too, so we received points on the purchase for Sears as well. I don’t use Upromise exclusively and pay it off in full each month, but you can also withdraw whats in your account and have them cut you a check, which they do quarterly. I would do this each year before Christmas and usually got about $100 each time.

I recently opened the Sallie Mae savings account, and they give you a bonus each year (which is a percentage of your Upromise earnings). This past year, I got about $11 bonus to my Sallie Mae account, and that’s not horrible considering they have a competitive rate, and it really was no extra work on my part. The $11 was the equivalent of about 2 mths. of interest since interest rates are so low, but every little bit helps.

]]> By: mizzou fan http://creditcardforum.com/blog/upromise-credit-card/#comment-24639 mizzou fan Thu, 22 Sep 2011 19:00:44 +0000 http://www.creditcardforum.com/blog/?p=1405#comment-24639 Been a member for 10 years. Always pay off the credit card. However, it is not our main card. Have saved over 3300 on Upromise. My wife spends a lot of $$ at HSN, QVC, and Shop NBC--always go thru the Upromise website when she buys, those 3% or 4% add up. When I am shopping on line, renting a car, or planning a vacation; I always go thru Upromise. Been a member for 10 years. Always pay off the credit card. However, it is not our main card. Have saved over 3300 on Upromise.

My wife spends a lot of $$ at HSN, QVC, and Shop NBC–always go thru the Upromise website when she buys, those 3% or 4% add up. When I am shopping on line, renting a car, or planning a vacation; I always go thru Upromise.

]]> By: Arlene http://creditcardforum.com/blog/upromise-credit-card/#comment-24567 Arlene Sat, 17 Sep 2011 14:26:37 +0000 http://www.creditcardforum.com/blog/?p=1405#comment-24567 I've been enrolled since May 2011 (now Sept 2011). I'm using the program to help pay off my existing student loan quicker rather than saving up for a child's education. I simply can't see a way to complain about free money. I am earning money three ways: 1) the credit card, which gives me 1% back on all (all!) purchases. I used to have a reward card that paid me 1% toward a certain large online retailer, and that was fun, but I much prefer paying down my loan than buying something new that I probably don't even need. 2) credits via grocery store (etc) loyalty cards. I don't get much here, just 30 cents here or there, but I'll take it. and 3) using the online portal (with the TurboSaver application that makes it convenient) which basically seems like an affiliate scheme that lets you in on some of the deal. I am careful not to buy anything I wouldn't buy anyway, and of course never carry a balance on the card. I've never come across a single fee. Every 3 months I get a transfer directly into my Sallie Mae account. While I was shy about getting family and friends involved, I recently told my mother about it and she has registered her loyalty cards and signed up for the credit card, because she really wants to help. I imagine that's going to double my rewards right there. I know a lot of people feel entitled but I simply cannot complain about the $70 just transferred to my account last week, or the future quarterly payments that might be even bigger. I’ve been enrolled since May 2011 (now Sept 2011). I’m using the program to help pay off my existing student loan quicker rather than saving up for a child’s education. I simply can’t see a way to complain about free money. I am earning money three ways: 1) the credit card, which gives me 1% back on all (all!) purchases. I used to have a reward card that paid me 1% toward a certain large online retailer, and that was fun, but I much prefer paying down my loan than buying something new that I probably don’t even need. 2) credits via grocery store (etc) loyalty cards. I don’t get much here, just 30 cents here or there, but I’ll take it. and 3) using the online portal (with the TurboSaver application that makes it convenient) which basically seems like an affiliate scheme that lets you in on some of the deal. I am careful not to buy anything I wouldn’t buy anyway, and of course never carry a balance on the card. I’ve never come across a single fee. Every 3 months I get a transfer directly into my Sallie Mae account. While I was shy about getting family and friends involved, I recently told my mother about it and she has registered her loyalty cards and signed up for the credit card, because she really wants to help. I imagine that’s going to double my rewards right there. I know a lot of people feel entitled but I simply cannot complain about the $70 just transferred to my account last week, or the future quarterly payments that might be even bigger.

]]> By: Christopher http://creditcardforum.com/blog/upromise-credit-card/#comment-24239 Christopher Tue, 23 Aug 2011 22:17:32 +0000 http://www.creditcardforum.com/blog/?p=1405#comment-24239 If you link a 529 plan to Upromise than the money is transferred quarterly to said 529 plan. If you link a 529 plan to Upromise than the money is transferred quarterly to said 529 plan.

]]> By: Dana http://creditcardforum.com/blog/upromise-credit-card/#comment-24176 Dana Fri, 19 Aug 2011 16:25:33 +0000 http://www.creditcardforum.com/blog/?p=1405#comment-24176 We have the upromise credit card, and have saved 358.00 since jan 2011, we too pay off our credit card every month so the interest has no bearing on us. but i will say that the bonus for opening a credit card was 50.00 on the first time use of the card was a night mail I have had to write and call at least 10 times and finally received the fifty dollars aug 13 2011 and this was a total fight. the call center is in India and the understanding barrier is a nightmare. i have received lies saying that it was deposited by one person then told it would be deposited and wasn't. I have kept an updated account on the money that is owed and i continue to have to fight for small amounts like .55 but this is my money and not theirs. so i will continue to be diligent on this. Since the grocery coupon data base changed it is always after 90 days when it disappears from account then it never hits the deposit. so be careful they tend to slipping on every penny that is owed. We have the upromise credit card, and have saved 358.00 since jan 2011, we too pay off our credit card every month so the interest has no bearing on us. but i will say that the bonus for opening a credit card was 50.00 on the first time use of the card was a night mail I have had to write and call at least 10 times and finally received the fifty dollars aug 13 2011 and this was a total fight. the call center is in India and the understanding barrier is a nightmare. i have received lies saying that it was deposited by one person then told it would be deposited and wasn’t. I have kept an updated account on the money that is owed and i continue to have to fight for small amounts like .55 but this is my money and not theirs. so i will continue to be diligent on this. Since the grocery coupon data base changed it is always after 90 days when it disappears from account then it never hits the deposit. so be careful they tend to slipping on every penny that is owed.

]]> By: Smart Shopper http://creditcardforum.com/blog/upromise-credit-card/#comment-23902 Smart Shopper Sat, 30 Jul 2011 20:41:54 +0000 http://www.creditcardforum.com/blog/?p=1405#comment-23902 frakes74 is right. The money does not go into a 529 plan. You can take the money out and use it for anything you want. Anything at all. Of course the smart thing to do is invest it in some way for your children, I have had the account since 2006 and have received just over $3,000 from Upromise. We pay it off every month, so the interest rate does not mean anything to us either. Upromise works for us! frakes74 is right. The money does not go into a 529 plan. You can take the money out and use it for anything you want. Anything at all. Of course the smart thing to do is invest it in some way for your children, I have had the account since 2006 and have received just over $3,000 from Upromise. We pay it off every month, so the interest rate does not mean anything to us either. Upromise works for us!

]]> By: frakes74 http://creditcardforum.com/blog/upromise-credit-card/#comment-23206 frakes74 Wed, 29 Jun 2011 19:33:01 +0000 http://www.creditcardforum.com/blog/?p=1405#comment-23206 The money DOESN'T go into a 529 plan...try again and research a bit more. I have been a memeber for 8 years and this is in no way shape or form a 529 plan. Upromise is not a savings account. Really...it is just a better way to shop. It all adds up in time. I will be able to pay for both of my childrens textbooks during their first two years of college. Take the upromise money and invest it into a high interest savings account, CD or 529 plan. This is what I do and it is simple. Also if you pay for everything that you would normally pay with cash and pay your credit balance off at the end of every month then you won't have to worry about paying any interest. I have done this for years and it has worked out to my advantage. It is about will power... The money DOESN’T go into a 529 plan…try again and research a bit more. I have been a memeber for 8 years and this is in no way shape or form a 529 plan. Upromise is not a savings account.

Really…it is just a better way to shop. It all adds up in time. I will be able to pay for both of my childrens textbooks during their first two years of college.

Take the upromise money and invest it into a high interest savings account, CD or 529 plan. This is what I do and it is simple.

Also if you pay for everything that you would normally pay with cash and pay your credit balance off at the end of every month then you won’t have to worry about paying any interest. I have done this for years and it has worked out to my advantage. It is about will power…

]]> By: Susan Gallagher http://creditcardforum.com/blog/upromise-credit-card/#comment-6477 Susan Gallagher Fri, 23 Jul 2010 19:53:58 +0000 http://www.creditcardforum.com/blog/?p=1405#comment-6477 Check out the interest rates on the Upromise credit card: 0% Introductory APR for the first 7 or 10 statement Closing Dates following the opening of your account, based on your creditworthiness. See footnote 1 for explanation. After that, your Standard APR will be 12.99% to 20.99%, based on your creditworthiness when you open your account. This APR will vary with the market based on the Prime Rate as set out in the Variable-Rate Information section of your Agreement. Let's see...1% back with 20% interest. Think that's a way to save for college? Check out the interest rates on the Upromise credit card:
0% Introductory APR for the first 7 or 10 statement Closing Dates following the opening of your account, based on your creditworthiness. See footnote 1 for explanation.

After that, your Standard APR will be 12.99% to 20.99%, based on your creditworthiness when you open your account. This APR will vary with the market based on the Prime Rate as set out in the Variable-Rate Information section of your Agreement.

Let’s see…1% back with 20% interest. Think that’s a way to save for college?

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