What is the Upromise program and how does it work?”
It’s very passive and is tied to your existing credit cards. When you make certain purchases a small amount of money is deposited to an account that you specify is for a child to go to school with down the road. I never buy anything specifically because it is part of upromise. Most of the deposits are taken care of automatically and frankly I never worry much about it. When on the web, you do have to link through upromise for sites like Land’s End. Sometimes I remember and sometimes i don’t. Without any effort and without purchasing anything we wouldn’t have otherwise purchased, we have racked up close to $1,000.00 in this account. There seems to be some sort of push to open up a college investment account through them but I’ve always just ignored doing anything else. I would recommend it as it seems to be working for us and is no worry at all. I hope this helps.
There is no special card for Upromise. You go to their website and tell it your credit cards and loyalty cards. When you buy certain items from participating vendors (which are often labeled with the Upromise logo) or visit certain restaurants the shop will notify Upromise what you bought and some money will be credited to your account. After you earn up a certain amount of money you can apply it to your college loan payments or save them up to put towards an education. It’s basically an incentive for you to buy certain products. Companies are willing to spend a few cents to entice you to buy their products. It’s advertising. I’ve been using it for a few years now. I haven’t checked how much money I’ve earned up, but I’m sure it’s a lot by now. I don’t know of any similar programs out there.
The UPromise program is a way for you to save money that can go towards paying for college. There are several participating vendors. It works by opening an account, from that point you can link all of your credit cards to the UPromise account, you can also choose to link your Albertson’s preferred card and other like things. Then UPromise takes a certain percentage from your purchases on approved items and deposits that money into an account for your child. You can visit upromise.com for more information and to register. I have signed my child up, and although the savings in minimal, it’s something. I’ve haven’t had any problems, and it’s been over 2 years.
