I’m not feelin’ the love from Upromise – How about you?

upromisedoodleAlthough it’s very likely I just haven’t put in the time or effort to maximize my earnings ;)

But you would think having 4 credit/debit cards & 3 grocery savings cards signed up would have produced more than $7.08 in an entire year! Sheesh -kabobs. Perhaps I’m too frugal to reap the benefits? After all, I do limit as much shopping as necessary. And w/ Upromise, the less I shop the less i can earn back in tuition. It would still be nice to earn a bit more though.

If you’re not familiar with Upromise, here’s how it works (copied from their site):

“Every time you make an eligible purchase, our partners return a portion of that money back to you. Those earnings accumulate in your Upromise account until you decide to use it to invest in a 529 plan, help pay down eligible student loans or assist with college expensesβ€”all tax-free!”

Basically, every time you swipe your credit card or grocery savings card when out and about shopping, a portion of what you spend (*on eligible items) goes into an account in your name. It’s a freakin’ brilliant idea if you really think about it, esp. since it doesn’t cost you, the consumer, anything to do! You just go about our business collecting “free” money for your college/school tuition.

From what I can tell, however, this money really doesn’t add up all that much unless you change your habits. For instance, if a package of applesauce lands me 5 cents @ Safeway, then whenever I need applesauce I better remember to pick it up @ Safeway every time – and the same brand. Same thing goes w/ hamburgers @ McDonalds, books @ Borders, etc. Not everything counts, and not every store participates.

Still, it’s definitely worth looking into. Here are some of the pros and cons I could conjure up just from my own experiences thus far, but by all means let me know if I’ve missed something entirely! The more info and thoughts the better :) Here’s what I’ve got:

PRO: You don’t have to DO anything to get this money! Sure you have to spend a few minutes signing up and getting your credit cards and grocery card #’s in place, but when you’re done that’s it – You’re free to swipe and start racking up that dough! If I recall correctly, it took me about 15 minutes from start to finish, so I guess that’s about $28 buck/hr so far if I look at it that way ;)

CON: Yet another database out there with my credit card info on it :( Yeah it states a billion times the site’s safe and verified and all, but it’s still a scary thing to think about. At least the cards give us some protection though. Plus, I haven’t heard of 1 story yet against Upromise, and it’s been around for years now.

PRO: You can earn even more if you get your friends & family to join! The more people who sign up their cards to our account, the more you earn. So now Uncle Joe and Cousin Joy can help you build up some money too every time they swipe away! The more people you have signed up, the more passive money you get to earn. Of course, the same *eligible items* still play a factor here – but maybe your family members pick up those items that you yourself do not?

CON: There’s still that database of everyone’s info out there! haha…yeah, sadly enough i can’t think of another Con here, but obviously the more cards you have signed up to our account, the scarier it becomes if ever hacked.

So is Upromise worth it? Yeah I suppose so. All this money can really build up if you can get off your a$$ and market it all around to your contacts ;) Shoot, even if they all earn just $7 a piece for you – that’s still free money towards your tuition! All in all I think it’s at least worth a shot if you haven’t tried it already. And if you have, let us know if you broke my $7.08 record! haha….

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  1. mike April 22, 2012 at 10:00 AM

    U-Promise to me = U- suck.. The biggest waste of time I have ever seen!! Signed up for it 5 years ago and my account balance is about .13 cents. Nothing you ever buy even in the correct time frame and sale date ever gets added to your account :( This site is a data collection site and in my opinion has nothing to do with helping kid’s with college.

  2. J. Money April 23, 2012 at 5:44 PM

    Haha… well, I don’t know if I’d go that far, but I agree it hasn’t amounted up to jack for me neither ;) And I’m not about to change my habits to earn a few more bucks into it either.

  3. Cindy November 11, 2014 at 5:20 PM

    I have been with Upromise over 10 years, and have earned back over $5000. The first couple years I was not really into it too much and was only earning pennies here and there… but once I really read the fine print and read comments from other members, and I applied for the upromise Credit Card… then I started earning the rewards. We do not eat out often or do a lot of online purchasing, but when I do need a purchase I check first to see if a Upromise partner has the items I need at the lowest price. I charge almost all of our expenses on the Upromise Mastercard and pay it off in full when the bill come.

    there are other rewards program out there also like Ebates and Goodsearch… stores are willing to give “rebates” back for purchases.. you just have to figure our which one works best for you if any.

    1. J. Money November 16, 2014 at 8:51 PM

      Thanks for sharing, Cindy :) And great job racking up the $$!