Upromise question

[takemetoo]

I just did a search and found a few threads about upromise, but am still looking for first hand experiences. Who here has joined? Thoughts? I have two sons, can I split the savings between them? Is it only going to add up if we put our ccs on the plan? Has anyone here actually realized the $ for use at college/university? Thanks!

 

[Mamajules]

I have belonged to Upromise now for about a year. I think you can sign up more than one student on the website. I haven't seen a lot of earnings from it, but I figure by the time my son goes to college, it may pay off. The best ways to save are to buy with a registered credit card online at sponsor merchants or use a registered credit card at participating restaurants. Also, you can register your grocery store savings cards and when you buy items that support Upromise (they usually have blue tags on the shelves stating this by the item), then it pays you back so much on the dollar. Also, grandparents/others can register their cards on the account toward the
child(ren).

The main thing I don't like is that they have changed payouts since I joined. It used to be you could tie a college savings 529 plan to your Upromise account and transfer money over. You can no longer do that, now you just request a check and then turn around and put it in your 529 account. They do e-mail you a quarterly statement.

Hope this helps.

 

[lemondog]

I signed up and all 3 of my children are under my account. It automatically splits the money earned equally between them, although you can revise how much is allocated to each child if you want. No, you don't accumulate a lot, but hey, every little bit counts. I shop at Publix and signed up for one of their Upromise cards, which I scan at every visit. A portion of all applicable product purchases automatically goes into my account. You can assign most grocery store shopper cards to your account, along with credit cards. You can also assign those of your family members, for even more savings. I figure even if it does nothing more than buy their books when they go to college, at least it is something.

 

[OceanAnnie]

I really like upromise.

When I sold my house, I didn't know upromise worked with some real estate agencies. So I lost an opportunity there. That would've had a pretty big contribution. Also if you buy a certain brand of vehicle it too would have a nice yeild.

The best contribution I had was cashing in my airmiles. It was a nice savings.

I do the ccs and I'm loyal to certain brands so that helps too.

I'm pretty sure I'll buy a savings bond with the contributions. I don't want any stipulations or penalties as to how the money is spent. That's just me.

 

[takemetoo]

Thanks for the quick replies! So your local grocer (I don't think we have publix here) has their own upromise card to scan, or does upromise send you one? If you link your grocery card (I've Stop and Shop and Shaws) it automatically deposits into upromise if you've bought certain brands, etc? Maybe I should just sign up and figure it out as I go along. Quarterly statements, that's nice. If I can't link to a 529 plan how do I get my $ out?

Anything else I should know?

Thanks everyone. Gotta love the dis!

 

[nicknamy1996]

OK, before I replied I checked my account. I have $77.90 saved up. I've been a member for years. So...

Will you save up much money? No.
Will you put a kid through college on it? No Way. (I've got 14 years to go, so maybe I can buy a book)

BUT... Is it worth it? To me, Yes.

The reason it's worth it is because there is no work involved at all (after the initial start up) You just sign up and link your credit card and then you can forget about it.

I just looked at my account (first time in a long long time) and in the 120 day acct. statement I've earned money for cc purchases at mobil/exxon gas, bed bath and beyond, gnc and 2 local restaurants.

The restaurants are the best deal by far. I have 3 local restaurants that I know about (and dine at) so far (a pizza chain, a mexican chain, and show-me's bar and grill (great chicken wings!) They all pay you 10% cash back. The best part is when you get an email out of them blue from upromise saying "congrats, you just earned 2.90 from...." It's a nice little surprise.

I do have a 529 plan started for my children, but it's not through one that is available on the upromise site. And you won't earn enough to start one through the site alone, so before I joined I called and asked about it. And the bottom line is that the money is yours. You can call at any time (probably a min. dollar amount though) and say send me my money and they will cut a check to you and mail it. You can then invest or spend the money any way you like. It's really just like any other reward program, but they offer the 529 plans, it's their selling point.

Another great feature (I've never been able to do this though) is that you can sign up family and friends credit cards and link them to your account. It doesn't cost you anything, it doesn't cost them anything and everybody still earns what ever rewards their credit cards may be offering. But if you have more understanding or open minded people in your life than I do you can get them to do it (actually you can do it for them if they trust you with thier cc number) My mom (who uses her CC for everthing and pays if off each month like we do) won't let me link to hers because she "has 11 grand kids and it wouldn't be fair to the other 9 if my kids got the free money!"

OK last point...If you remember and you want to log in for you online shopping you can save even more. In fact they are one of the best to go through for disneystore.com purchases, they used to pay 6%, but now it looks like 4%, but that's still better than mypoints. That part is a little work, but if you don't mind doing reward things, it's worth it.

 

[TinkerPixxie]

Ive been doing upromse for two years now, and no the savings arent very much. The best ways Ive seen is to use theri service which automaticly lets you know if you are shopping online through a upromise merchant, then you dont miss any possible savings. Yes you can have more account for numerous children. Grandparents and aunts and uncles etc etc.. can also register their grocery shopping scan cards to help out. As I recall there is an invitation upromise can send on your behalf to ask them.

 

[takemetoo]

Okay, so I'm going to do it. I've started filling out the form and it asks if I have a promotion code. Hmmmn. Anyone know where I'd get one or if it's worth anything?

I think my mom might join me in this, so thanks for that suggestion.

 

[nicknamy1996]

Just did a google search and came up with this???


Every time you purchase Beech-Nut® baby food, you can earn 3% of your total spending to put towards your child's college — small contributions that add up big. Especially since we'll start you off with $3.00 in your account.* Joining is quick, simple and completely safe.

Sign up at Upromise.com and enter BN3 in the promo code field. Your $3.00 bonus will automatically be added to your account. Then every time you buy Beech-Nut products, 3% of your total spending will be saved for your child's college.

 

[dturner]

I've been a member for a year now, I have $4.39 saved up, guess I don't buy MOST of the things that give you rebates, LOL!!!

 

[tink2dw]

Don't forget that McDonalds is a one of the places you can get Upromise. Sort of makes you feel better about all the Happy Meals the child will eat from age 2 till 18 years! lol!

 

[aka-mad4themouse]

Like nicknamy1996, I have belonged to UPromise for quite awhile, practically from their inception. I have just over $150 in my account. It's been a painless way of saving. There have been a few mild surprises, like when I made a purchase at Pep Boys and later found that I was credited with almost $16 because I used a credit card that was registered with UPromise to make the purchase.

If you're an AOL member, register with your screenname or link your screenname to your existing account. You will get double grocery rewards (2% instead of 1%).

Grandparents and child-free relatives can also link their grocery cards and credit cards to your account to contribute to your child's education. My in-laws registered all their grocery cards but are reluctant to add their credit cards to it.

My children are getting closer to college age (DD is a freshman in HS). My UPromise rewards won't send her there but they may pay for a book or two. Every little bit helps.

 

[takemetoo]

Thanks Nicknamy, I just signed up and used the code! $3 is a nice start!!!

Please, everyone, feel free to post more suggestions. I'm not going to go out of my way (ie: buy things I wouldn't otherwise), but I fully intend to use this to my advantage. I did a search and found out my favorite Thai food place is a member! Woohoo, I know where I'm taking dh for his birthday dinner.

 

[mrskay9]

Does every grocery store participate? I've only got a Food Lion near me. Can someone tell me if Food Lion does it? Thanks

 

[TEK224]

and I have $225 saved. Not a lot, really, for two years, but I didn't have to do anything for the money. Just my normal shopping. I don't have kids, but firgured it'll come in handy for my nieces and nephews when they go to college. Even if it just buys books. Every little bit helps.

The grocery stores in my area are ShopRite and Acme. CVS drug stores are also good. Products that earn Upromise money include Tylenol, ExxonMobil Gas, Lehigh Valley Milk, McDonalds, Pep Boys, etc. They give you a whole list of merchants. It's probably the easiest money you'll ever get, for the least amount of work.

Terri

 

[Donnask8pro]

Its FREE money.. My son is 4, so hey I've got plenty of time....I'll take my $100 at the end of the next 16 years. lol But its FREE....

 

[lemondog]

So your local grocer (I don't think we have publix here) has their own upromise card to scan, or does upromise send you one? If you link your grocery card (I've Stop and Shop and Shaws) it automatically deposits into upromise if you've bought certain brands, etc?

First, go online and see which grocery stores participate. I think all of them probably do. If a store already has a VIP/Members/Discount-type card, then that is what you would link to your UPromise acct. Publix does not have cards like that, so they had to create special UPromise cards. You get them thru the retailer, not through UPromise. Like someone else mentioned, don't forget drugstore cards too. I linked my CVS card account.

Now a question. I know McDonald's is a member, and we eat there a LOT! However, I always pay cash. Is the trick here to use the debit card linked to my UPromise account to pay for my food at McDonald's? Is that the only way to get the credit to my acct? Thanks!

 

[Donnask8pro]

At McDonalds you need to buy gift certificates then on the back page there is a skew number you need to take home and register online to get the credit. Then use the GC everytime.

 

[momoftwins]

http://www.upromise.com/8106.1.do

Can I withdraw company contributions from my Upromise account without transferring them to a savings plan, and if so, how?

You can withdraw your Upromise contributions at any time during your membership. To withdraw company contributions from your Upromise account, submit a letter in writing to Upromise requesting a withdrawal from your Upromise account. The letter must state your full name and exact amount that you would like to withdraw, up to total amount available in your account, pending contributions are not eligible for withdrawal.

For the protection of our members, we require a Signature Guarantee on all withdrawal requests in excess of $200. A Signature Guarantee is a guarantee you can obtain from a financial institution, such as your bank, that your signature is yours and that it is genuine. It is not the same as a notary, as a notary states that a document was signed in the presence of the Notary Public, it does not validate the signature itself. This Signature Guarantee should be placed next to your signature on the withdrawal letter.

Withdrawal letters should be sent to:

Upromise
ATTN: Customer Care
P.O. Box 55555
Boston, MA 02205-5555

Checks are sent once per calendar quarter, so you should typically receive your check within 12 weeks of your request being received.



Another, is if you have American Airline miles you don't want (this is under the American Airlines link in their travel section:

Take your college savings to new heights. Redeem your American Airlines AAdvantage® miles for college savings. Get $50 for 10,000 miles and $25 for each additional 5,000 miles.

Hope this helps!

 

[henrylovespooh]

I joined Upromise when my son was born in 2001 and later added my daughter in 2002. They split the money 50-50. I like that it's free money and so easy. I have about $125 saved so far, and I am going to request a check soon so we can put it in our 529.

I would suggest pulling the money out when you reach $100 each time and get it in the 529. You will not earn interest in the Upromise account! Keep in mind that Upromise can go belly up at any time, so as you accumulate enough to move it, do it. In a 529 your money will earn interest, which helps your small amount grow. My kids are 2 and 3, so in an interest bearing account, that little amount can be grown to much more. Of course it won't pay for everything, but books cost a fortune so that would help.

Before you make any big purchases, like buying a house or a car, go to the Upromise website and see if there are any deals. Many times you will find that you have to go through Upromise to find a dealer or realtor - you can't just buy something and then try to register it. I lost out on $500 for my GMC car that way. Ugh!

I have registered my grocery store cards and my credit cards. No problems. The grocery store cards have been good and the credit card for gas purchases is great. I definitely go through Upromise for online shopping - every little bit helps.