There are two new credit card programs targeted at those who need to save money for college. Upromise, which is Sallie Mae’s college saving company and Bank of America together have launched these two programs. Card holders and earn cash back on everyday purchases to help finance future college expenses or to make payments on eligible Sallie Mae student loans.
These cards are the Upromise World MasterCard credit card with Gas and Grocery Rewards, and the Upromise World MasterCard credit card with Dining and Grocery Rewards. The cash back rewards are transferred directly into the member’s Upromise account.
The good news is that there is no annual fee or limit to the amount of rewards that can be earned. Also for a limited time upon opening a Upromise account, you will get $25 after the first qualified use of the credit card. Other details include:
Upromise World MasterCard credit card with Gas and Grocery Rewards features:
- Earnings of 1% college savings on all purchases.
- Earnings of 10% extra college savings on thousands of Upromise participating grocery and drug store items.
- Earnings of 2% extra college savings on eligible gasoline purchases at Exxon or Mobil locations.
Upromise World MasterCard credit card with Dining and Grocery Rewards features:
- Earnings of 1% college savings on all purchases.
- Earnings of 10% extra college savings on thousands of Upromise participating grocery and drug store items.
- Earnings of 10% extra college savings on purchases at Upromise Dining by Rewards Network restaurants.
The final way that card holders and members can benefit is by shopping with thousands of Upromise participating companies because members can earn contributions by the participating companies in a range of 1 to 25 percent of the purchase price. There has already been more than $475 million in college savings earned by the more than 10 million members.
If you have any questions, you can visit the website www.upromise.com/cardcenter for more information.
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