The Upromise College Savings Promotion
My wife Deb brought home an Upromise key tag from our local Publix store a couple nights ago. I had never heard of them but apparently it is a way to save for your child(s) college. After reviewing Publix’s page on the Upromise website I read that you can get 1 to 5% back when you buy your favorite products from brands such as Diet Coke®, Kleenex®, Tide® and many more (there are literally hundreds of grocery products that qualify). Since we shop at Publix anyway, I figured there was no reason not to sign-up being that it is basically free money for college.
Registering our Upromise key tag was pretty straight forward & easy. At the end of the signup process, Upromise wants you to sign up to a 529 college savings plan & other optional services. At the moment we declined those.
Upromise looks like a really great service and I’ll update you how it is going for us. Let us know if you have joined also and any of your thoughts. Remember, Upromise is offering you FREE money for college savings! Various companies offer this cash back as a way for them to earn your loyalty.
What’s also important to know is that Publix is not the only company to team up with Upromise. You can earn Upromise cash for participating at many, many other companies (not just grocery stores). Here is a summary of how Upromise works:
- Join For Free and Sign Up To Save With 1000s Of Companies.
- Shop As You Normally Do At 1000s Of Locations.
- Companies Try To Earn Your Loyalty.
- Watch Your College Savings Grow.
Register your credit cards, grocery cards and other information with Upromise so that they can track your spending and make sure you get automatic rebates for college at thousands of participating retailers, grocery and drug stores, restaurants, and services. You’ll automatically get up to 10% of your purchases back as college savings.
Use your registered Upromise cards at thousands of participating companies and get a percentage of your spending back into your Upromise Account - automatically. Plus there are many other ways to save - like making long distance phone calls, buying or selling a home, getting a mortgage, shopping online and much more.
Companies like ExxonMobil, Citi®, McDonald’s and many more give you money back for college to earn your loyalty.
All of your savings will collect in your Upromise account. Then, when you’re ready to invest it, they can transfer it to a qualifying 529 college savings account.
Pretty Cool huh!? I’ll let you know how our uPromise college savings are adding up.
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Written by Tim Schroeder on July 13th, 2006 with
2 comments.
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July 18th, 2006 at 8:35 am
UPromise has things you should and should not use it for. In terms of real world shopping, uPromise is great, because you can basically register your credit cards and grocery cards, and then forget about the program. and the value of being able to register friends and family is huge.
However, upromise gives poor returns on online shopping. with respect to online shopping, it is much better to use stuff like fatwallet, ebates, or bigcrumbs - to get higher returns, and more easily accessible cash.
July 19th, 2006 at 10:34 am
Upromise is a good program, and they deliver what they promise, but the choices on investing are fairly limited. They used to allow you to use almost any 529 program, but now they have limited it to just a handful, mostly brokered by the Upromise company itself. Not necessarily a bad deal, but not very flexible either, especially if you already have a functional 529 account.
Of course you can always withdraw the cash from your account, by writing them a letter — they’re not scammers and they don’t hold it hostage! — but it’s not a quick process.
It’s been worth it for my family so far, but it’s good to know some of the drawbacks too.