Consumer Payment Card News

Upromise Savings

A new study shows that joining a college savings program that includes a credit card can realistically generate thousands of dollars toward tuition. The research showed that a typical American family with two young children can send their children to a four-year public university by saving another $4.42 per day. The Citibank/Upromise study also found that if a typical American family with the college savings gap of $28,022 had started saving five years earlier when their first child was born, they would have faced a much smaller college savings gap of only $12,401. To fill this gap, they would have had to invest just $1.87 per day. The Upromise program and the “Citi Upromise MasterCard” can close the gap. Under the free Upromise rebate program, a portion of eligible spending on more than 7,000 participating items at grocery and drug stores in the Upromise network, as well as buying at more than 7,000 restaurants or gas at Mobil and Exxon locations will automatically produce savings in the Upromise account. The “Citi Upromise Card” accelerates contributions by earning 1% on all purchases and 10% on purchases for more than 7,000 Upromise items at participating grocery and drug stores, as well as 2% on eligible gasoline purchased at Exxon and Mobil locations. Cardholders can also “double dip” by using the card to make purchases with other Upromise contributing companies. Lastly, family members can apply for their own card and combine their savings. For more information visit: “http://www.Upromise.CitiCards.com”:http://www.Upromise.CitiCards.com

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