Upromise World MasterCard Review

Upromise World MasterCard

Upromise World MasterCard Review

The Upromise World MasterCard recently changed hands from Bank of America to Barclays and through SallieMae’s shopping program.

As a result of its relaunch, several of its features have changed and so this card deserves a second look through, particularly for students to whom this card is geared and given that it is the time of year to start looking for student specific cards for the new school year. Is the Upromise World MasterCard worth your application or should you opt for another one of the many student cards out there?

Here’s a list of the benefits & the reasons why we’re giving the Upromise World MasterCard review a 5-out-of-5 star rating.

Apply online now to take advantage of one of the best student credit card offers out there today!

5 / 5 stars     

Does Upromise Give Good Rewards?

With more and more competition for creditors to snag the market of students, most cards now feature some sort of rewards scheme and the Upromise World MasterCard is no different. In this case, the card is a cash back rewards card with a twist.

You can earn up to 10% cash back when you use your card, though you’re more likely to earn up to about 3 or 4%. Here’s how you can get that cash:

  • 10% + cash back when shopping online for eligible purchases
  • 5% cash back on online shopping no matter what on eligible purchases. The 10% or more is based on promotions or special deals, etc.
  • 4% cash back on eligible dining
  • Up to 3% cash back on eligible gas purchases at Exxon or Mobile locations
  • 2% cash back on eligible movie theatres
  • 1% cash back everywhere else

    You also get an additional $25.00 cash back on your first purchase with your card within the first ninety days of owning the card.

    The twist with this system is that you can not only redeem your cash back for checks every quarter (as long as you have at least $10.00 of cash back rewards), but you can also use the money against your education costs. You can contribute to a Upromise 529 savings plan, make deposits in a Sallie Mae high-yield savings account or make your payments towards an eligible Sallie Mae serviced loan. In effect, you can save for your education (or the education of your child) or pay off your student loan, assuming this is done through Sallie Mae. This means that this card isn’t just good for students, it’s also good for people who want to become students or who have recently graduated and want some extra help in paying down the loan. For this reason, this card is considered something of a student card even though non-students can receive the card (though it won’t be quite as useful to them).

    This card doesn’t seem to have any of the features common to rewards style cards; for example, there is no car rental insurance or travel insurance. It is purely a cash back rewards card that lets you save for education or help you pay off the costs. You can also redeem the cash back as a pure cheque if you’re so inclined.

    Do Upromise I Can Afford It?

    The Upromise World MasterCard is actually not too hard on the wallet. There is no annual fee and you get one of two APRs depending on your creditworthiness: relatively low or kind of high. There is also an introductory APR of 0% on balance transfers (plus a 4% transaction fee) for the first fifteen months of owning the card. After that, the APR will be the same as your purchase APR. This means that this card is good for moving high interest debt over so that you can pay it off faster. The APR for cash advances is pretty high and the penalty APR is even higher, so make sure you don’t take out cash too often and don’t have any late payments or this card will become very expensive to keep!

    The introductory period is nice (if you have a balance to transfer) and this card has no annual fee. But you really do want a decent credit score if you want to avoid the high APR on purchases; either that or ensure that you at least mostly pay down your balance every month.

    The Upromise World MasterCard has definitely undergone some changes in how their reward system functions. It’s now easier to get cash back, assuming you shop at eligible places regularly, and with redemption starting as early as $25.00, it’s easy to make your cash back work for you. But if you don’t think you’ll shop regularly where you’ll get cash back, then you may want a more general cash back credit card. If you can make use of this card though, then it’s well worth considering since the cash back is fairly generous.

    Because of the really great rewards being offered with the newly revamped Upromise credit card offer, we are giving the Upromise card offer a 5-out-of-5 star rating in the category of student credit cards, you simply can’t beat this deal and the Upromise is simply one of the best student credit cards out there today!

    You can apply for the Upromise World MasterCard using our secure application link at the top of this review to enjoy the perks you can get right now!

    5 / 5 stars     

    Speak Your Mind