Has anyone used Upromise?

[mommytotwo]

Someone brought up the question about saving money for your child's education and then another person mentioned about Upromise. I did sign my daughter up but wanted to get some feedback from people who have used it, are using it....

 

[suzannews]

Publix grocery stores gave out a swipe card for every time you shop, they scan the number and a few pennies here and there go into your account. You can earn money alot quicker by registering your credit card and stuff but I am not into giving out that info.

 

[disneychrista]

I have my shopping and credit cards "linked" with upromise. Unfortunetly unless you do a lot of online shopping (through their links) it is VERY slow to build up. We have less then $3 since we joined in June/04.

 

[briannesmom]

We have been with Upromise for about 10 months and DD has almost $70 in her Upromise account. I registered our credit cards and grocery store cards. There are lots of online shopping sites that you get a percentage from but most of ours comes from groceries and gas. Also Pep Boys where we get our oil changes and car work done has earned us quite a bit in the past few months. It is easy to set up and I figure any additional money we save for college will help, fortunately we have about 16 more years to save.

Amy

 

[sweet angel]

I have my son signed up, with all my cards linked to the accounts. There's about $110 in the account so far, but that's as far as I've gotten. Not sure where to go from here. Don't really know much about 529 plans.

 

[Mskanga]

I use it anytime I get a chance, I have all my shopping cards and all my credit cards linked to it , I also got $300 from GMAC for purchasing my cars , so far I have like $325.
I figured wether it's a few pennies or not , every penny counts , so I will let the pennies add up.

 

[Bob Slydell]

Yep, we use it. I think we're up to something like $350 or $400 last I checked -- we're going to start up a 529 plan with the money once we get above the minimum opening balance (which I think is $500).

 

[KristiKelly]

We have a UPromise card & my Dad does as well. He puts everything on it. I don't know how much we have. It's not going to pay for the entire college tuition, but every little bit helps. They did a segment about it a few years ago on the Today Show, that's what got me interested.

 

[remyandhollandsmommy]

LOL, when I saw this post I remembered that I had signed the girls up over a year ago. I went and checked and we have just over 13.00 saved!!

 

[sweet angel]

Don't you also have to contribute to the plan once you open it? I originally thought that the Upromise funds funded the whole thing, but I was mistaken.

 

[bballmom56]

I enrolled DS about 2 years ago. He's now 16, so we won't have a ton in there, but as others have said, every little bit helps. We have about $150 in there now. By the time he enters college, maybe it will be enough to cover the first semester's books. I consciously do some of the online shopping. When I order flowers at Christmas, I go through Upromise and one of their participating merchants. I also do a lot of online shopping at JC Penney and make sure I go through the Upromise site. It adds up!

 

[coliebird]

Hi Patsy,

I have my grocery cards and my credit card linked to Upromise. You don't get much at all - pennies on the dollar, but every little bit helps. You can also link it to a 529 College Savings Plan, which I haven't done yet, but plan to.

 

[Toby'sFriend]

I just logged into our account to look and I've been a member since 11/2001 and have earned $329.98. It won't send my kids to college for sure, but I'm not going to turn away free money either.

 

[leahannpen]

I'm signed up...don't have much, but DS is only 3 1/2, so we have time. I just need to remember to use the online shopping links when I shop online. Every little bit helps!

 

[dbond]

I enrolled in 07/02, my balance is only $164.87. One DS is 17, going to college in a year and a half so it may not help him much, but the other is 10, so maybe by another 8 years we'll have enough to pay for books for a semester or something. Every little bit helps!

I too am unsure about the 529 plans and what the amount is you have to have to open one and how do I get to this Upromise balance when I need it. It's confusing.

 

[OceanAnnie]

I signed up in 2002. I have a little over $300.00. I like it because there are so many ways to save.

I turned the bulk of my AA freq flyer miles into savings.

As someone mentioned if you buy a vehicle and/or sell your house there are some car manufacturers/real estate agencies that use upromise as an incentive program. Online purchases also add up (I've been using ebates but plan to switch). I did get a upromise cc late last year. I like it. Haven't had any problems with it.

Upromise is a great program, to me. You're going to spend the money anyway. You are probably already loyal to certain products and they will reward you for that. It's a win-win in my book.

I'm pretty sure we won't make it a 529 plan. We don't want any restrictions or penalties. I'm going to convert the money to a CD or bond or something. Haven't decided just yet.

 

[dbond]

I'm going to convert the money to a CD or bond or something.

You can do that? Is there minimum balance before you can withdraw? Like I said, how to use the money in the account really confuses me. I've read and read and it just doesn't make sense.

 

[OceanAnnie]

Heck, I've read on the DIS boards where people w/draw the money and use it for Disney vacations! There doesn't seem to be any stipulations as to what you can do with the money.

If I remember correctly, there were a few people on a thread that said they w/drew a couple of hundred $. I have to read up on it too. I've been putting it off. But now that I think about it, it could be earning interest.

When I do w/draw, I do think I'll leave some in the account. I don't want the status changed to inactive and closed.

 

[OceanAnnie]

dbond,

I had to edit that post. Sorry.

 

[preb]

You can withdrawl it at anytime. I first learned that on the Dis last year and someone posted a link to how you do it. I'm at work right now, but once I get home I'll try and track down the information and post a link.

We received a check for around $75.00 and I just sent it in for the mutual fund we already have set up for my daughter.

It's painless free money, so why not enroll?!? Also get your "friends and family" to sign up for your children, if they don't have their own. I think my Mother actually earned more for my daughter then we did!