Sallie Mae Releases Top Five Reasons Why the Upromise
MasterCard® Should Be in Your
Wallet in 2016
NEWARK, Del.–(BUSINESS WIRE)–It’s that time of year again. Millions of Americans have made New Year’s
resolutions to be healthier and more physically fit. And while many
assume that means heading to the nearest gym, the new year is also a
great time to focus on financial fitness which, for many families,
includes saving for college. In fact, according to the How
America Saves for College 2015 report by Sallie Mae and Ipsos,
nearly all families agree college is an important and worthwhile
investment; almost 60 percent, however, feel overwhelmed about saving
The good news is there are free programs and resources to get families
on the right track. Upromise
by Sallie Mae is a free program that allows families to earn cash
back on everyday purchases. What’s more, by applying for the Upromise
MasterCard® — issued by Barclaycard — families can take
saving for college and other financial goals to the next level.
Today, Sallie Mae, the nation’s saving, planning, and paying for college
company, released the top five reasons why the Upromise
MasterCard should be in your wallet this year:
1. Earn Up to 10 Percent Cash Back. Really.
MasterCard cardmembers can earn up to 10 percent cash back (up to
five percent back through Upromise, plus an additional five percent from
using the Upromise MasterCard) by:
- Shopping at more than 850 online retail partners at Upromise.com;
- Dining at more than 10,000 Upromise participating restaurants; or
- Booking travel at major travel sites via Upromise.com
Cardmembers can also earn two percent cash back for in-store shopping at
major department stores, including Nordstrom, Sears, and Kohl’s, and at
movie theaters. All other purchases with the Upromise MasterCard are
eligible for one percent cash back. New cardmembers can also earn a
one-time $50 cash-back bonus after
making a purchase, cash advance transaction, or balance transfer within
90 days of opening an account.
“The new year is an ideal time to evaluate the benefits of the credit
cards currently in your wallet or, if you are looking for a new card,
deciding which offers significant rewards to help you reach your
financial goals,” said Dave O’Connell, president, Upromise by Sallie
Mae. “With up to 10 percent cash back, the Upromise MasterCard can be a
financially savvy resolution for families, especially those looking to
save for college.”
2. Build College Savings.
When families open a Upromise
MasterCard account, they’re automatically enrolled in Upromise
by Sallie Mae, and they can immediately
start earning cash back. 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 more than $50 million in cash
back for college. Collectively, the Upromise MasterCard program has
awarded more than $470 million in total cash back rewards.
“Paying for a college education can seem like a marathon, but the
Upromise MasterCard can help families sprint ahead,” said Kirsten
Osland, director of Financial Institutions and Affinity Partnerships,
Barclaycard US. “Our Upromise cardmembers have found that their credit
card helps make saving for college simple because they earn cash back on
the things they are already spending money on every day.”
3. Pay No Annual Fees. No Cash Back Limits or Expirations.
Unlike other credit cards, the Upromise MasterCard rewards are cash, not
points, and there are no limits to how much cash back a cardmember may
earn. In addition, there are no annual fees and no rotating cash-back
categories, and cardmembers receive complimentary access to their FICO®
Credit Score and $0 fraud liability on unauthorized transactions.
4. Shop with Major Retail and Travel Partners.
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 like Lowe’s, Old Navy, and The Disney Store, and travel sites
like Travelocity, Hotels.com, and Expedia? For a complete list of
Upromise partners, visit Upromise.com.
5. Take Advantage of Special Promotions.
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 mean cash back savings of more
than 15 percent. Cardmembers also receive special cash back offers via
To learn more about the Upromise MasterCard, visit Upromise.com/MoreCashBack.
Sallie Mae (NASDAQ: SLM) is the nation’s saving, planning, and
paying for college company. Whether college is a long way off or just
around the corner, Sallie Mae offers products that promote responsible
personal finance, including private education loans, Upromise rewards,
scholarship search, college financial planning tools, and online retail
banking. Learn more at SallieMae.com.
Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are
not sponsored by or agencies of the United States of America.
About Barclaycard US
Headquartered in Wilmington, Del., Barclaycard US is one of the
fastest-growing top 10 credit card issuers in the nation. The company
creates customized, co-branded credit card programs for some of the
nation’s most successful travel, entertainment, retail, affinity and
financial institutions. For more information on Barclaycard please visit BarclaycardUS.com.