Citi UPromise Will Be Bank of America UPromise

I received a letter from UPromise yesterday, announcing the change of ownership of the UPromise credit card.

The card, which I have been using since 2002, is one of the tools that I “shop & save for college.” Currently, UPromise is associated with Citibank, but in a couple of weeks, it will become Bank of America UPromise Card. The change of hands is quite interesting because, as we all know, Citi is now in a big mess while BofA is in a much better shape. So could it be that Citi just want to get rid of it?

Anyway, I am glad that there won’t be any change in the rewards program itself, as the letter indicates. Last time when FIA Changed Fidelity 529 College Rewards Card’s association from MasterCard to American Express, the rewards was reduced from 2% to 1.5%. The UPromise rewards program can be summarized as follows:

  • Earn unlimited college savings from the credit card, no maximum annual limit to how much you can earn;
  • Earn up to 10% or more extra college savings on specific UPromise categories;
  • Earn 1% college savings on every purchases;
  • Automatic deposit of your UPromise college savings into your UPromise account;
  • No annual fee.

BTW, UPromise is giving away $500,000 to 200 students for college. Check it out how you may be one of them. And it also has an eCoupons program that can also help you save money and save for college.

Find out more

Update: UPromise card is now offering $25 bonus for opening a new account.

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20 Responses to “Citi UPromise Will Be Bank of America UPromise”

  1. S. M. of Corona |  Dec 09, 2008 at 8:53 pm

    Citibank does it again. This is the second “rewards” type credit card I have had through Citibank that was sold to another bank. The first one was several years ago when I had the Sony card. That was sold to some bank I had never in my life heard of. The kicker is that by the time they notify you of the change, Citibank will do NOTHING for you. You can’t continue to be threir customer even if you have a credit history of 10 years with them, nor will they try and retain you on another one of their cards. This ended up in the process of filling out a brand spanking new application for credit through Citibank. This time with the Upromise switch, Citi CLAIMES to have sent a letter allowing me to switch to a new card before November 30th, but while I told the phone representative I never received such a letter, her SUPERVISOR told her he received ANOTHER call today stating the same, no letter received. Trust me, after this I am staying away from ANY rewards credit cards. They are bought and sold to whatever bank they want to buy it and you are stuck in the wake of disaster. I would rather re-apply with Citi than be a customer of B of A. But, when you have the rewards cards, you are not given the option of staying with your bank.

  2. J.S. |  Dec 10, 2008 at 3:45 pm

    Your in the same boat as me. I have been a member since ’98. I called Citi and get the run around. Called BOA,same thing, no info. Is my rate going to change, payment date, etc. None of these things where conveyed to us. I never received a letter offering to switch cards either. I would have jumped on it. Like you S.M. I’ll probably have to fill out a new application wit Citi.

  3. RV |  Mar 31, 2009 at 3:22 pm

    I had been a Citibank card customer since 1986, a Upromise cstomer since 2002, and a mortgage holder too. Frankly, I find the way this was all handled to be terrible! I have always liked being a Citibank customer, and when I travel overseas it has been quite convenient as I know the locations of their branches. I hope they made a lot of $ off of this lousy customer service! I’ve now decided to refinance my mortgage away from them also.

  4. JM |  Apr 03, 2009 at 6:02 pm

    I too was advise Bank of America would be taking over the accounts…but never advised when. Last month when I paid my bill online, I was advised by Citi thaty this would be the last time I would be able to do so. I wrote to Citi customer service, and was advised I could pay at a branch, or pay by mail in the future. Today I went to a Citi branch to make this months payment, and they would not accept it. They advised that since Bank of America had taken over the account, they could no longer accept payment. Strange, since the bill are being sent out by Citi on CitiUpromise statements. I don’t have a Bank of America account, nor do I have their credit card. I called Bank of America, and explained ALL to them, also advising that this payment had to be made today…they said they would accept payment by phone for a $14.95 charge. What a farce. You pay $14.95 for paying, or $39.00 for late fee. If Citi cannot accept payment in one of their branches, or online, where is my mail payment going. The statement states, make all checks payable to CitiCard…mailing same to CitiCards P>O>Box 182564, Columbus, Oh. 43218-2564. I have never received a statement from Bank of America. And when I tried to open an online at Bank of America, (name, e-mail, last 4 digits of SS# and mother’s maiden name) I was advised my information was invalid. WHAT?????
    And people wonder why these banks are in ruins

  5. Shawna |  Apr 06, 2009 at 11:57 am

    BofA is horrible. They never sent me a new card and when I called in they proceeded to lower my credit limit from 5k to 1k for no reason.
    Even though my account standing was excellent with Citi. The guy was rude and mean. This was a horrible expierience and I knew I should of just let go Upromise and stayed with Citiabank.

  6. Gregory Paul |  Apr 10, 2009 at 10:05 pm

    Lousy, Lousy, Lousy,

    I have been around and around with both BOA and Citi to try to get online access to my previous years statements. Citi claims they no longer have them because they were sold to BOA. The best I could get from BOA was paper statements in 45 days!!!!.

    Not acceptable!. In this day and age where busy people depend on the online access they have gotten used to, 45 days doesn’t work. If you people at BOA bought my card from citi then you should have a way for me to access previous statements.

    Between all the hassels we have had with you with wiring money and the whole credit card mess you have given us, its a wonder you still exist.

    Greg Paul

  7. Anna Briggs |  Apr 14, 2009 at 11:30 pm

    I had the Upromise card that was sold to BOA also, I have been unemployed since Oct. 2008 and was on the citicard credit protection. I received a letter from BOA stating the credit protection would transfer with the card. Last week, I received a statement from BOA with interest, fees and a due date, so I called BOA and tried to get set up on their credit protection plan. BOA claims that because my unemployment occurred before March 29, 2009 (when they actually bought citicard’s upromise accounts), I need to contact citibank and get back on their protection. This seemed odd, but I called citibank, they said that wasn’t true that BOA bought my account and that they would need to honor it. After 8 hours on the phone between the two companies and both claiming the other is responsible, I have gotten no where. I even have a letter from BOA stating my coverage started Sept. 29, 2008. Both companies supervisors have taken my information and promised to check it out further and to call me back. None of them have called me back, they also do not have direct lines so you can talk to the same person. I am at a loss as to what I should do now. If I don’t hear back by the end of this week, I will file a complaint with the BBB and the Attorney General, but that won’t stop my payment from being due the end of the month. Of course,if I was still employed I could re-apply with another company and transfer the balance.

  8. P. Martin |  Apr 15, 2009 at 1:11 pm

    I, too, am going through this same madness. I’d had my Citibank Upromise card since 2004, then out of nowhere, B of Am takes over (I swear I never received notice) and now I cannot even access my account online. I was setup for Autopay, however, that was with Citibank so B of Am charged a late-fee…though to their credit, after numerous calls to Citibank and B of Am, and hours on hold, B of Am removed the late fee. I am positive they are receiving a mass amount of angry calls from ex-Citibank customers. The situation just sucks all around. What really annoys me the most, is that I cannot have online access to my account now!

  9. Sun |  Apr 15, 2009 at 1:38 pm

    Sorry to hear your trouble with the new card, guys. Somehow, I think I am lucky before I also use BofA as my bank. So as soon as the account is transferred from Citi to BofA, I was able to access my Upromise account from my BofA account without any problem. The fact that there wasn’t any balance on my old Upromise card during the transition period also helped a little bit.

    @Anna Dealing with credit card companies is never an easy job. Every time you call, you talk to a different person and get a different story, not just that you have to repeat yourself again and again. It’s better to ask the work ID of the person who answers your call.

    @Martin If you want to access your account online, you will now have to go to BofA website and register your card.

  10. Julie |  Apr 16, 2009 at 11:06 am

    After being a Upromise credit card holder since 2002, I had to
    cancel the card because of a poor experience with Bank of America. I have had the card just over two weeks now and have had more bad experiences than with any card I have EVER had. The latest was fraudulent charges to my brand new card (I have NEVER had fraudulent charges in more than 10 years of using credit cards). They were “kind” enough to freeze my card without notifying me, so I got to enjoy the embarrassment of having my card declined in public. Those two things aside, the dealbreaker is that I also find their website to be a step backward from Citibank – they only let you download transactions monthly
    into Quicken, whereas Citibank was daily. How are you to keep a current balance (or detect fraud) when your transactions are only downloaded every 30 days? I guess you could log in manually, which defeats the purpose/convenience of Quicken entirely.

    I am saddened that Upromise would choose to move their business to such a substandard bank. I hate to quit using my Upromise credit card – it really was great for seven years – but this new provider is unacceptable. I would be happy to re-apply if Upromise would choose a different bank.

  11. Jacques |  Apr 16, 2009 at 11:43 am

    To my suprise I am now staring at a late payment fee because when citi transferred the balance to Bofa, Bofa never sent a bill. I am very pissed, as Bofa customer service was useless when I asked them to tell me how much is due and when. The online acct records is not even consistent with what the customer service sees on their screens. Very lame. I need to spend hours yelling on the phone to get this resolved and hopefully get the late payment fee waived and no damage to my credit history.

  12. Susan |  Apr 18, 2009 at 8:10 pm

    I am really disappointed. I used my upromise card exclusively and would have gone on doing that, except for my experience with BoA. I’ve been a customer for years – and have never missed a payment – no late fees….

    Anyway, I tried making my April payment (auto pay) with Citi and it was returned to my checking account. When I called Citi, they told me they couldn’t accept the payment and that I should wait to get a statement from BoA.

    Still don’t have a statement from BoA for my Upromise card, but when I tried to use my Upromise card today – it was declined.

    Called BoA and they said I had a late fee. So, I’ve officially been a customer of BoA for all of 15 days…..and I am late on my account. What a racket! They collect a $39 fee and I have yet to receive my first bill from them!

  13. Dave |  Apr 21, 2009 at 8:27 am

    Well at least we are not alone. We found out yesterday when we received a statement from BOA. We never deal with BOA so it almost went to the shredder thinking it was solicitation mail. By chance I opened it to see a statement. I asked my wife when we opened a BOA account. We never did and apparently where already late in payment. We have or had auto pay with Citi.
    Pretty poor handling from BOA and Citi. Freakin banks can take our tax dollars in the bail out and still treat us like crap. How about considering my tax dollars in your bailout money payment in full on the account.

  14. Chris |  Apr 23, 2009 at 6:41 am

    I had the same issue, not recognizing the plain BOA statement and throwing it out. BOA did not transfer my automatic payment either so I ended up with a late fee. I of course thought that the late fee would be withdrawn on a brand new account and the poorly performed transfer. IT WAS NOT and they were very rude. I have immediately closed the BOA account and recommend others do before they have to deal with BOA Account “Managers”. You are in for a rude awakening I promise.

    There are many other credit cards that offer cash back and reward programs that can be applied or converted to be moved into college accounts. With NO HASSLE!!

  15. Cory |  Apr 26, 2009 at 12:53 pm

    Just got off the phone with BoFA. I have a late fee and a past due balance! On the 1st of April I tried to make my normal payment online with Citi, I could not access my account. I went, online, to set up my account with BoFA and there was no payment due reflected on the account and it wouldn’t let me enter an amount to pay on my own accord. I immediately called BoFA and explained the situation. I was “re-assured” by a customer service rep that I did not owe a payment until May and I would receive a statement in the mail to that effect. So several weeks later I receive a letter from one of my other credit cards saying they have lowered my limit because of late payments on other accounts…mmmmm…I don’t use that card much and just chalked it up to the whole credit card mess. The next day I received my statement from BoFA; it reflected a past due balance a late fee, etc. etc. BoFA says the past due balance is something they cannot access because it belongs to Citi, Citi says they no longer have my account information and I need to talk to BoFA……Of course there is no supervisor available to speak with. I would transfer the balance but don’t know if I’ll be able to now that this crap is showing up on my credit reports! Thanks for the other posts because I thought it was just me or at least that’s the way the BoFA rep made it out to seem. I look forward to many hours on the phone trying to sort this out but I don’t hold out much hope!

  16. Phill |  Apr 27, 2009 at 10:48 am

    I have been running in circles with this changeover. I charge about 6-10K per month on my Upromise card. I called because there was a pending payment due and was told by BOA that they could not tell if it was due. I am on hold now to get the $39 charge credited back. The representative just came on and said they were doing a ‘one-time courtesy adjustment’ for me. It was Upromises mess up and caused this confusion and they are doing me a favor? [I am carrying a balance this month because of this disaster and they are getting the interest]

    Also, did anyone else call last week and get the message that the old citibank card was no longer valid, but to use the new citibank card? This happened when you called the BOA on the back of the card. Morons running this whole process. I am talking to my financial planner now to tranfer the 529 account to a different plan away from Vanguard completely.

  17. Julie |  Apr 29, 2009 at 1:05 pm

    I got a note in the mail from BOA, stating I had a late fee so I called BOA and talked to an account manager named John C who was rude,rude,rude and mean RUDE to find out what this was for.. This was a horrible experience cause BOA did not transfer my automatic payment either so I ended up with a late fee, nor they never ever sent me a bill which I explain, I have an bill from citi but not them. I thought by calling right way the late fee would be withdrawn and the fact that my account standing was excellent with Citi for almost 10years. So I asked him to waive the fee and he said no, so I said waive the fee or close the account & he closed the account. I wasn’t sitting good with this seeing as I was a perfect payer so I had finally let my husband call to talk to some one else & they finally clear the late fee & he asked then to reopen the account & they said they would see what they could do & get back to use and THEN I got a letter in the mail stating “DUE TO THE ACCOUNT HAVING MANY LATE PAYMENTS, THE ACCOUNT WILL NOT BE REINSTATED”. Hello I have auto deduct full payment every month!!!! LATE?? BOA times are tough now & you might not need us little people but some day when times get good.. You will knock at our door for our business and we will all SLAM it shut!!!!!

  18. Lynda |  May 08, 2009 at 9:31 am

    Same mess. I tried to activate my card, they said not til a certain date. I tried to make my last payment to citibank, they would not take it on line. I called Citibank, they referred me to B of A, their ctr wasn’t open for payments yet, and by the time it was, they wanted to charge me a LATE fee, AND a pay over the phone fee!!! I said I would pay by computer as always, they said they weren’t set up to take a computer payment yet, but here is your late fee and pay by phone fee. Creeps!

  19. sandy |  Jul 31, 2009 at 2:50 pm

    Same story here. After being with Citi for YEARS and not having a single issue, suddenly after going to BofA, I’m late on my payments because of the crappy transition process, assessed late fees and then have my credit limit reduced by $7,000! The customer service person was unaccommodating, and told me I could earn my way back up to my original credit limit. Mind you, I was never TOLD they reduced my credit limit – I had to find out after trying to charge something and getting declined. I wish I cancelled the account sooner. BofA is AWFUL.

  20. Shane |  Aug 05, 2009 at 12:02 pm

    I’ve had a UPromise account for 3 years now. I have a 12k limit. Just yesterday I was notified by mail that my card was closed! Never mind the fact that its taken weeks/months to get them to cancel their billpay service from BoA so that I could continue to use my own billpay service. I have never been late and considered myself a good customer but it all seems to have gone to pot since I changed over and also cancelled their credit protection.. oh well.