Upromise® Mastercard®

Our review of the Upromise® Mastercard®

If you’re looking for a credit card that can help you save for college expenses, the Upromise® Mastercard® from Barclays is worth considering. This cash back card offers enhanced rewards when depositing funds into eligible college savings plans, making it a valuable tool for building your education fund. Plus, there’s no annual fee to worry about.

0% Intro APR on Balance Transfers

One of the standout features of the Upromise Mastercard is its 0% introductory APR for 15 months on balance transfers made within 45 days of account opening. After the introductory period, a variable rate based on creditworthiness applies. This can be a great way to save on interest while you work on paying down existing balances.

Earn Additional Rewards When Linked to an Eligible 529 Plan

With the Upromise Mastercard, you can earn a flat-rate, unlimited 1.25% cash back on all eligible purchases. While this rate is competitive, there are other cards with higher cash back rates. However, where the Upromise card shines is in its unique feature of earning 1.529% back on all purchases when depositing funds into an eligible college savings plan, such as a 529 plan.

Earn More with UPromise Round-Up

To further boost your college savings, you can take advantage of Upromise Round-Up. This feature allows you to round up your purchases to the nearest dollar and convert the total Round-Up amount into cash back rewards, which can be deposited into your college savings plan.

What College Savings Plans are Eligible?

The Upromise Mastercard supports nearly 200 college savings programs, including popular options like NEST, ABLE, STABLE Learning Quest, Merrill Lynch, and John Hancock. This makes it a versatile choice for maximizing your cash back rewards for college expenses.

Earn up to $250 in Cash Back Rewards per Year

In addition to regular cash back rewards, Upromise offers the opportunity to earn up to $250 per calendar year through additional promotions like buying gift cards through MyGiftCardsPlus. This can be a valuable bonus for those looking to maximize their savings.

Other Card Features

The Upromise Mastercard also comes with no foreign transaction fees, complimentary access to your FICO® score online, and EMV chip technology for enhanced security. As a Mastercard, it also provides additional protections like Zero Liability Protection, Mastercard Global Services, and ID Theft Protection.

Should You Apply for the Upromise® Mastercard®?

If saving for college is a top priority for you, the Upromise Mastercard could be a valuable addition to your wallet. With its focus on college savings, low maintenance, and no annual fee, it’s a great option for parents looking to build long-term savings through everyday spending. Pair it with a 529 College Savings Plan for maximum benefits and start earning rewards towards your education fund today.