Paying Yourself First with Upromise by Sallie Mae

by Darwin on May 23, 2016

Please note I was compensated by Upromise for the content in this post. However, all opinions expressed below are my own, based on my personal experience with Upromise.

I’m often amazed by how much money Americans leave on the table that could be effortlessly diverted to their own wallets or investment accounts.  In virtually all facets of life now, I’ve tried to automate everything from bill payments and scheduling of recurring activities to automatic investing.  One area that is often lacking though, and offers plenty of opportunity, is optimizing benefits from your spending.

Of special focus for my family is preparing for the onslaught of college expenses.  With 3 children and very low prospects for significant financial aide assistance, I’m really going all out to ensure that we have enough saved in various college savings accounts to enable our kids to go to a reasonably priced college without burdening them (or us) with decades of debt later in life.  In order to do so, I’ve been tapping every resource possible from personal savings and automatic paycheck deductions to optimizing credit card benefits.

That’s where the Upromise MasterCard comes in.  The benefits are numerous.  But starting at the top, let’s just consider what you spend in a given year.  Aside from some major expenses that you may not be able to expense on a credit card like mortgage payments, there are tons of other expenses that people rely on cash and checks for that could be paid for via credit card.  Then, taking it to the next level, here are some of the benefits that you may be able to enjoy that you’re not taking advantage of now:

  • Cash Back Opportunity of up to 10 Percent via the following:
    • Shop at more than 850 online retail partners at com;
    • Dine at more than10,000 Upromise participating restaurants;
    • Book travel at major travel sites via com
  • $50 Cash-Back Bonus after making a purchase, cash advance transaction, or balance transfer within 90 days of opening an account
  • Start Saving for College Early:
    • When families open a Upromise MasterCard account, they’re automatically enrolled in Upromise by Sallie Mae, and they can immediately start earning up to 10 percent cash back.
    • With more than 850 online retail partners, more than 10,000 restaurants, and multiple major travel sites, chances are most families are already shopping, dining, or booking travel through a Upromise partner. So why not earn cash back and start boosting savings on purchases from major retailers travel sites like Travelocity,, and Expedia? For a complete list of Upromise partners, click here.
    • The cash back earned on everyday purchases can be invested in an eligible 529 college savings plan, used to help pay down an eligible student loan, transferred into an FDIC-insured Upromise GoalSaver account, or withdrawn by check.
    • Last year, Upromise MasterCard cardmembers collectively earned $42 million in cash back for college. Collectively, the Upromise MasterCard program has awarded $484 million in total cash back rewards.
  • No annual fees, no cash back limits, and no expirations.
    • Unlike other credit cards that offer points that expire or you may simply never redeem, the Upromise MasterCard means cash back. There are no limits to how much cash back you can earn. No expirations and no annual fees. It’s that simple. Also, there are no rotating cash-back categories. In addition, you’ll stay on top of your credit with free access to your FICO® Credit Score, and enjoy $0 fraud liability on unauthorized transactions.
  • You can earn extra through special promotions throughout the year.
    • Upromise partners with major retailers to offer special promotions that offer additional cash back opportunities at major online retailers. For Upromise MasterCard cardmembers that can sometimes mean cash back savings of up to 15 percent. Cardmembers also receive special cash back offers via email.

Some of the major purchases I’ve made just in the past few years include everything from vacations to payments to contractors for home renovation projects to a new HVAC system.  If you’re going to be spending thousands of dollars on something, you might as well be maximizing your benefits back as a result!

Check out this infographic for more on this amazing offer:

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