BabyMint College Savings Program
Filed Under Other · Tagged:
Babymint is the flagship product of the [tag]Vesdia Corporation[/tag]. The underlying “savings engine” technology of the [tag]Babymint program[/tag] is licensed to other private label names such as The Education Plan and Baby Center.
The major selling points for the [tag]Babymint 529[/tag] [tag]savings club[/tag] are: 1) earned rewards can be directed to almost any [tag]529 plan[/tag] (including ones already set up) and, 2) there is no fee or requirement to have the affiliated Babymint credit card. BabyMint provides good competition for Upromise in the area of on-line shopping rebates with nearly 500 merchants listed. To earn on-line rebates, you must shop through the BabyMint website but any credit card can be used. In the area of in-store shopping, Babymint doesn’t stack up as well. The list of in-store merchants is relatively sparse and you can only earn in-store rebates if you use the affiliated [tag]Babymint credit card[/tag].
| Membership Fee: None | Affiliated Credit Card Available?: Yes |
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In-store Merchant Network?: Limited - In-store Rebates Only if BabyMint Credit Card is Used |
Affiliated Credit Card Required?: No |
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On-line Merchant Network?: Extensive - About 500 Merchants |
Register Other Credit Cards?: No |
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Required to Shop Through Website for On-line Rebates?: Yes |
Register Loyalty Cards?: No |
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Frequency of Transfers to 529 Account: Monthly - ($25.00 Minimum) |
Cash Withdrawals Allowed?: Yes |
| Can Others Direct Contributions?: Yes | 529 Plan Options: Any 529 Plan |
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Other Features/Services: Exchange airline miles for rewards, rebate match for private college tuition credit through Sage Scholars, discounted gift certificates and coupons, can apply rewards to student loans. |
Rebate Reporting: Yes |
Summary: Babymint is free and worth joining primarily for on-line shopping purposes. Rebates from on-line retailers are competitive with Upromise rebates from the same retailers so it’s a good idea to look both places for the best deal when shopping on-line.