Sallie Mae’s has rolled out a new Upromise World MasterCard that is now issued by Barclaycard US. The card had been managed by Bank of America.
Both banks have credit card operations in Wilmington and the Newark area. Sallie Mae is based near Newark.
The card offers the following:
– 5 percent cash back for college on eligible online purchases at hundreds of major online retailers through Upromise.com
– 4 percent cash back at thousands of Upromise Dining restaurants
– Up to 3 percent cash back on eligible gas purchases at Exxon or Mobil locations
– 2 percent cash back at eligible movie theaters
– 1 percent on everything else
“Saving for college can be daunting, and frequently the hardest part is just getting started,” said Joe DePaulo, executive vice president, Sallie Mae. “Sallie Mae makes it easy to start saving early and each time you make everyday purchases. Together with smart planning, saving regularly can add up to help make the investment in college possible.”
“Saving for college is now just as easy as counting to five,” said Surinder Singh, general manager-US Cards, Barclaycard US. “The new Upromise card is an excellent way for families to complement their existing college savings activities in an easy-to-use and easy-to-understand way. By using the card every day for household purchases, families can accelerate their savings and really see the benefit accumulate.”
Existing Upromise cardholders will continue to earn cash back for college with their current card and receive a new Upromise World MasterCard with the new rewards structure this fall.
Upromise by Sallie Mae is free to join and members have earned more than $675 million in cash for college since 2001. Money earned from everyday spending is accumulated in a Upromise account and can be invested in a tax-deferred 529 college savings plan, deposited into a Sallie Mae High-Yield Savings Account, used to help pay down an eligible Sallie Mae student loan, or sent to the member in the form of a check.
How can I check the status of my account on line and find out if I have a credit memo from Overstock.com?
Check out the Sallie Mae website.