Upromise Reaches Milestone
Filed Under 529 Rewards Programs · Tagged:
Citi Cards recently announced the attainment of a significant milestone:
Citi Cards is pleased to announce that its college savings contributions to Upromise members have achieved a major milestone: Upromise members using the Citi Upromise MasterCard have received $100MM in college savings contributions in under five years. Upromise is a service that allows families to save a percentage of their everyday spending as college savings with more than 450 participating companies.
$100MM equals $100,000,000 (”one hundred million”) in case you wondered. Assuming annual public university tuition of $8,000, the Upromise milestone equates to about 12,500 student-years worth of public university tuition.
Congratulations to Citi Cards and Upromise on their success and for coming up with a great college savings concept…just be sure to use the program wisely.
The complete press release can be found here.
Savingforcollege 529 Credit Card
Filed Under 529 Reward Credit Cards · Tagged:
The Savingforcollege Investments Reward Credit Card is not a "529 college savings card" in the strict sense. Rather, the card's main distinguishing feature is that it allows earned rewards to be directed to any type of investment account - "a savings account, a mutual fund, a 529 college savings plan, or even a money market account". Presumably, rewards could be used for retirement savings or other non-college uses. Rewards are earned at the standard rate of 1% with no cap. There is no associated merchant network where additional rebates can be earned; however, the card is affiliated with Savingforcollege.com, an excellent source of information for all types of college savings plans. [Read more]