Futuretrust Credit Card Discontinued
The following notice was recently posted on the Futuretrust.com website:
Notice to Futuretrust® MasterCard® Cardmembers
On March 1, 2010 Destination Maternity Corporation announced the termination of the Futuretrust® MasterCard® Program. We greatly appreciate your membership in the program and we regret any inconvenience that the termination of the program may cause you.
The Futuretrust® MasterCard® is issued by Barclays Bank Delaware. We expect that current cardmembers will be re-issued another card in the near term. Certain additional aspects of the wind-down of the program are currently being evaluated and Futuretrust® program participants will be notified with additional information as soon as possible.
If you have questions, you can contact Barclays Bank Delaware customer service at (866) 793-0789.
The Futuretrust 529 Credit Card is another basic 1% 529 rewards card. The card does share one important negative feature with The Education Plan card: you must have the credit card to benefit from the supplemental merchant rebates offered through Futuretrust network merchants – other credit cards cannot be used.
Other drawbacks of this card are the relatively short 20 day grace period and APR rates that are on the high side compared to the other 529 reward cards. Futuretrust APRs start at 12.74% and range as high as 16.74% depending on credit history.
| Basic Rebate: 1% of Eligible Purchases | Maximum Yearly Rebate: None |
| Other Rebates: None | Grace Period: 20 Days |
| Annual Fee: None | APR (Purchases): 12.74% – 16.74% |
| 529 Plans: Not Limited to 529 Plans | Minimum Rebate Transfer: $25 |
| Transfer Frequency: Monthly | Cash Withdrawals Permitted?: Yes |
| Can Others Direct Contributions?: Yes | Issuer: Juniper Bank |
Summary: Once again, there are several better options available when choosing a college rewards credit card. A special introductory rewards rate of 2% is offered for the first nine months – but only on the first $5,000 worth of purchases.
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Good article. If you are looking for choice of credit cards for 529 plans, see below.
http://www.plans529.com/Directory/tabid/145/Default.aspx
It has list of credit cards which has rewards directly going to your 529 plans account. I prefer Fidelity.
I started a company that lets anybody in your circle of friends and family gift directly into your child’s 529 plan. We have a deal with FutureTrust. So instead of another Barbie Doll or shirt from the Gap people can gift into your child’s plan. It’s a simple site and concept that helps people save for college and give meaningful gifts. The site is http://www.freshmanfund.com
I also write a blog on saving for college the site is http://www.giftingforcollege.com