Friday, December 31, 2010

Upromise- What I Know So Far

I was extremely fortunate to make it through four years of college and a year and a half of graduate school without taking on any debt.  Scholarships and living the single life made a tight situation possible.  My luck ran out after marrying and having our first child & then deciding to adopt and have a second, while also trying to complete another two-year graduate program.  Needless to say, we accepted financial aid, and we're in our second year of paying it back.

Last month I decided to finally pay attention to the pop up links and emails that seemed to be pouring in from my financing source, urging me to join Upromise.  I really thought this was just some way to get my personal information and suck me into buying stuff I didn't need.  I would say I was about half right.

Since signing up for Upromise, I am 100% positive that the program wants individuals to sign up for their credit card through Bank of America, and there is certainly a good deal of pressure to start shopping online with the participating merchants.  On the other hand, if you can be strong and just say no to what you don't need, you can certainly gain from the program.

I registered both my Dillon's card, as well as my parents' card.  So far, I have seen $1.12 in credit based on three purchases I made the first week in December, when I signed on.  Financial rewards are based on purchases from participating companies, and they can earn you money back to put towards a college savings fund, paying off current debt, or actual cash back.  Additionally, you can add electronic coupons to your shopper's card.  Rather than getting the discount at the cash register, the coupon credit goes into your Upromise account.  It does take several weeks to appear, but good things come to those who wait.

Overall, I am seeing very positive results with the Upromise program, and I would encourage others to look into it for themselves by clicking here.  If you're going to open a new credit card or go shopping online anyway, you might want to consider those options as well.  As for me, I am quite happy with the savings I am starting to see just by learning how to be a better shopper!

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