Have you been searching for a unique method of contributing to your children’s college fund? The perfect solution is the Barclays Upromise World MasterCard. The Upromise program is geared towards those who value higher education. The Upromise program is an effort orchestrated by Sallie Mae. The Upromise organization has teamed up with over 800 retailers to provide exclusive discounts on products that will benefit your family’s lifestyle. When you buy one these items while being enrolled in the Upromise.com program, you are automatically awarded points which can be redeemed for educational benefits down the road.
This Barclays Upromise World MasterCard allows families to gain every edge possible when it comes to conquering the financial challenges of funding collegiate education. This rewards card will help you pay for college while you pay for your family’s expenses that are incurred throughout life. The Upromise MasterCard is designed to reward your children for the financial purchases you plan on making anyway. Upromise is a splendid method of contributing to a 529 college savings program because you will receive the benefit of saving money in a high yield savings account. You also get to take advantage of the tax benefits associated with maintaining a 529 college savings fund.
Main Features of the Barclays Upromise World MasterCard
- Potentially earn 10% in Cash Back Rewards by using this card at Upromise.com
- 12 Months of 0% APR on New Purchases and Balance Transfers
- Get $25 as a Cash Back Bonus Incentive Upon First Use of this Card
- Use Cash Back as a Payment Credit towards an existing Sallie Mae Student Loan
- No Spending Ceiling (Some Restrictions May Apply)
Five Tiers of Rewards
When you sign up for this Barclays Upromise World MasterCard, you will be eligible for 5 different tiers of savings that will help you get cash back benefits that are provided by Upromise. Here are the methods for accessing the 5 tiers of savings and rewards available to you.
Shopping at Upromise.com – 5% Cash Back Rewards: You read that correctly. When you go to Upromise.com and use your new Barclays Upromise World MasterCard, you will receive 5x rewards on every dollar you spend on the site. The deals on Upromise.com are exclusive deals that give you the opportunity to shop with over 800 retailers that you already shop with everyday anyways. In some instances, you may even be able to get 10% off by using your new Upromise MasterCard to shop on Upromise.com.
Dining at Upromise Participating Restaurants – 4% Cash Back Rewards: Have you ever thought about all of the times you have taken your family out and spent $80 to $100 on a nice elegant meal? Why not put that money to work for you? Not only does Upromise give you exclusive deals on the hottest places to dine in your town, your college fund will also benefit from these transactions.
Buying Fuel from Exxon and Mobil Gas Stations – 3% Cash Back Rewards: In America, we tend to drive everywhere because it is often the fastest mode of transportation. When you use your Barclays Upromise World MasterCard to purchase fuel, your 529 Upromise college fund can be funded in the form of 3% cash back. Think about how much gas you and your family consume on an annual basis. When you divert those costs onto this card, the savings will certainly add up in the form of cash back savings account contributions.
Movie Night Nets You 2% Cash Back Rewards: At participating Upromise theaters, you will receive 2% in cash back contributions to your family’s college fund. Check your local theaters to see if they are partnered up with Upromise so that you can take advantage of these rewards.
Get 1% Cash Back on All Other Purchases: Get rewarded on all of the money you spend with this card in the form of 1% cash back. Everyday purchases such as groceries and utility bills can be paid with this Barclays Upromise World MasterCard and you will earn college fund contributions on those purchases.
Facts and Fine Print Regarding this Barclays Upromise World MasterCard
- After the 12 month introductory period, the interest rate is a variable rate between 12.99% and 20.99% APR. Your actual rate will be determined by your credit worthiness.
- You will incur a fee for transferring balances onto this card. The fee will be $10 or 4%, whichever is greater.
- The penalty APR is up to 27.24% APR. This rate could apply indefinitely if you make a late payment.
- Remember to activate your card at Upromise.com/Activate once you receive it in the mail.
- There is no annual fee for this credit card.
- This card is backed by Barclays Bank of Delaware which is a member of the FDIC.
- You will be able to use this card around the world because it is a MasterCard
- Be advised that there is a 3% fee on transactions made outside of the USA.
- There is no fee for going over your credit line.
A Rewards Card Designed for New Parents
New parents realize that they only have 18 years to save for their children’s education. That clock starts ticking as you find out that you are going to become a parent. This Barclays Upromise World MasterCard is designed to compliment your lifestyle and assist in funding your children’s education simultaneously. If you were able to get this credit card and begin using it before your child is born, you could rack up a nice lump sum to help out with college expenses. Remember, you can have your cash back deferred into a 529 college savings plan and you could potentially earn compound interest on top of that.
Utilizing this Barclays Upromise World MasterCard as your family’s main channel for spending will enable you to earn the cash back rewards much quickly as opposed to using this card as a tool for debt consolidation. Think about all of the different cash back rewards you could accumulate over the span of several years after using this card to pay for all of your monthly bills. When you incorporate this card to be the main credit line for all of your discretionary spending, the rewards for your college fund will become evident and you will feel good about your financial decision become a card holder and a member of Upromise. If this card makes sense for your family, you are invited to submit a credit application for this rewards card offer.