Comments on: Shop and Save for College: UPromise vs. BabyMint

By: Ohio CollegeAdvantage 529 College Savings Plan [Reviews]

Ohio CollegeAdvantage 529 College Savings Plan [Reviews] — Fri, 13 Mar 2009 03:37:56 +0000

[...] 529 plan I got for our first daughter was the UPromise College Fund which is tied to my Citi UPromise credit card. Though the fund is also managed Vanguard, its expense ratio (ER) is rather high (0.65% for [...]

By: Citi UPromise Will Be Bank of America UPromise [Card Reviews]

Citi UPromise Will Be Bank of America UPromise [Card Reviews] — Mon, 19 Jan 2009 15:38:14 +0000

[...] card, which I have been using since 2004, 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 be [...]

By: UPromise $10 Target Gift Card Offer

UPromise $10 Target Gift Card Offer — Fri, 11 Jul 2008 02:50:57 +0000

[...] I have talked many times here on this blog that I am an active user of the UPromise program for several years, making nearly $500 rebates (though most were from Citi UPromise card) that were [...]

By: Random News: UPromise $25 Bonus and Holiday Promotions | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Fri, 30 Nov 2007 20:58:35 +0000

[...] have been using UPromise and the UPromise credit card from Citi since 2004 and have earned about $500 rebate. Not an very exciting number in nearly 3 [...]

By: Setting Up Another 529 Plan | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Mon, 30 Jul 2007 13:38:47 +0000

By: My Personal Saving and Investing System | The Sun’s Financial Diary | A Personal Finance Blog on Saving and Investing

Mon, 04 Jun 2007 15:03:22 +0000

[...] 529 plans: All monthly investments in our daughter’s three 529 plans are made right through BoA checking account. Besides, the accounts get some extra boosts from two credit cards we use: Fidelity 529 card connected to Fidelity UNIQUE College Savings Plan and UPromise card connected to Upromise College Savings Plan. [...]

By: Carnivals During the Last Week of March (Ask Mr Credit Card’s Blog)

Carnivals During the Last Week of March (Ask Mr Credit Card’s Blog) — Tue, 03 Apr 2007 00:54:48 +0000

[...] Tired But Happy hosted the 93rd Carnival of Personal Finance. The most interesting and relevant (to credit cards off course) was an article by the Sun’s Financial Diary comparing the BabyMint and Upromise college savings program. [...]

By: The Sun

The Sun — Wed, 28 Mar 2007 17:11:28 +0000

Bob: Well, that’s the question I asked myself many times as well: why people hate credit cards so much. One reason I heard a lot is that people tend to buy more stuff with CC than with cash. Since I almost charge everything with cards, I don’t really know what our spending will look if we pay everything with cash. But I do believe that there are lots of responsibilities involved in using cards. They can help you and they can break you as well. For those things that you know you have to buy anyway, like gas and grocery, why don’t get some back with credit cards?

By: Tired but happy

Tired but happy — Tue, 27 Mar 2007 01:19:12 +0000

Carnival of Personal Finance No. 93…

Welcome to the 93rd edition of the Carnival of Personal Finance, and welcome to *Tired but happy*….

By: Bob

Bob — Mon, 26 Mar 2007 21:40:38 +0000

I also use Upromise for my daughter and over the past few years the value of the account has gone up quite a bit without me realizing it.There are some things you have to buy anyways like Gas and grocery so why not use your credit card and get the rebate instead of paying cash.Also my discover card gives me cash back which is a double reward so I have never understood why some people prefer to pay cash instead of using a credit card.

By: My Two Dollars - A place to discuss money..for the rest of us. » Carnival Of Personal Finance #93 Is Tired But Happy.

Mon, 26 Mar 2007 16:37:45 +0000

[...] Sun’s Financial Diary compares two “save money for college programs” – BabyMint and UPromise. We use UPromise and we don’t even have kids yet. Free money is free [...]

By: The Sunday Review #13 at Money, Matter, and More Musings

The Sunday Review #13 at Money, Matter, and More Musings — Sun, 25 Mar 2007 11:33:46 +0000

[...] Shop and Save for College: UPromise vs. BabyMint by Sun @ The Sun’s Financial Diary. This post carries some encouragement for people like me; over the last few years, I have managed a mere 35 cents in my Upromise account. Sun has managed to save $400 ! [...]

By: Money Articles for the Week of March 24, 2007 » Silicon Valley Blog About Money

Sat, 24 Mar 2007 14:47:47 +0000

[...] Sun’s Financial Diary has Shop and Save for College: UPromise vs. BabyMint. I love Upromise and one day I promise to talk more about my experience with [...]

By: The Sun

The Sun — Fri, 23 Mar 2007 04:03:31 +0000

MossySF & Joe:

Since I have credit cards all the time, I don’t a comparison on what my monthly bill will look like if I pay everything with cash, thus I don’t know if I overspend with credit cards or not. But I don’t think my spending decision is based on how easy I can pay the bill.

While it’s true that the best option is always save the money instead of spending it, there are occasions that you do have to spend the money. In this case, getting some back and put it into a college savings plan from the money you have to spend is better than just spending the money without any rewards. I think the program doesn’t mean to encourage one to spend money (though the more you spend the more you get back). Actually, I only use those programs to get some extra help instead of using them as major sources of the contribution. I have college savings accounts for my daughter and have been making monthly contributions since she was born. Now she’s two-year old and there are more than $5,000 in her accounts. I am not counting on the cashbacks from these programs to put my daughter through college, but for those money I have to spend at grocery stores, I am happy to see that I can get a couple of percentage point of the total bill back and invest them.

By: Joseph Sangl

Joseph Sangl — Thu, 22 Mar 2007 18:48:20 +0000

I concur with MossySF. Put the money directly into a 529 plan or Coverdell Educational Savings IRA! Statistics continue to support the fact that when you buy with plastic – regardless of debit or credit, you will spend 12 – 18% more than if you pay with cash.

I started a UPromise account a 4 years ago and have accumulated $0.00 in my account. Why? I have no credit cards! (I do, however, have a hefty sum in my child’s 529).

Cash. It spends just like money!

By: MossySF

MossySF — Thu, 22 Mar 2007 16:58:38 +0000

Of course, the better option is instead of buying a $2000 LCD at BestBuy for a $40 rebate to the college fund — is to put the $2000 in the fund.

By: Super Saver

Super Saver — Thu, 22 Mar 2007 02:39:23 +0000

Sun,

Great rewards for your college savings account. I have only managed $0.07 credit for Upromise. I will be posting an article tomorrow and referring to your post.