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1/25/2018 7:38:29 AM
Posted: 2/5/2006 8:22:54 AM EST
I've just been invited to join Upromise to help save money for a relatives college education. Sounds like a great idea but wanted to check with the hive mind to see if anybody had any positive or negative feedback on this program. TIA>
Link Posted: 2/5/2006 8:25:14 AM EST
Link Posted: 2/5/2006 8:34:09 AM EST
Link Posted: 2/5/2006 8:38:26 AM EST

It seems to be a program where participating companies "kick back" a percentage of your purchase to a Upromise account and that money eventually gets deposited into the person you are sponsering's 529 college savings investment account.

Seems like a pretty cool idea for kids and grandkids. Just wondered if it was legit or not.
Link Posted: 2/5/2006 8:51:46 AM EST
Link Posted: 2/5/2006 9:00:45 AM EST
They used to be tied in with Fidelity and are no longer affiliated now. Don't know who they are tied in with now but am checking with my daughter-in-law.

Upromise only collects the money and then passes it on to the company managing the 529 in whatever minimum amount ($50) the company deals with. Due to varying rebate amounts and spending habits it can take time to build up to the minimum transfer amount. I'm also wondering how Upromise overhead is funded.
Link Posted: 2/5/2006 9:00:47 AM EST
I use it. I have a few family members signed up too. My 2 year old son has about 300 saved if you add everyone's savings up. If it goes under, I'm not too concerned. It's stuff I would have bought or restaurants I would have eaten at anyway. I don't expect to pay for Yale off of it, but if it buys some books, cool. I was concerned about giving out my CC numbers, so we only gave one cc with a very small limit and use that one for the site. Everything else was saved off of grocery shopping, or services like phone bills or what not. I'm for it!
Link Posted: 2/5/2006 9:09:07 AM EST
Your good to go, I've done it for a couple years for my kids. All you have to do is register your grocery cards and credit cards and when you spend $$ on certain items or at certain stores the kid you are saving for gets a %. When you shop online you have to link to the store you are buying from thru the Upromise website.

Do it, it costs you nothing and you help the kid out.

I'll be glad to send an invite to anyone you wants to help out
Link Posted: 2/20/2006 7:17:03 AM EST
Did it.

Signed up my gas card and my Stop and Shop shopping card.

Gas card gets used more than any of my other credit cards anywhere from 150-250 a month so I hope it helps my grandaughters out.
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