The Upromise® World Mastercard® is an ideal credit card for families, students, or anyone interested in saving for higher education while making everyday purchases. Offered by Barclays in partnership with Upromise, a service that helps families save for college, this card combines a competitive rewards program with a variety of other features tailored to support your educational savings goals.
In this article, we’ll explore the key features, benefits, and how to apply for the Upromise® World Mastercard®. Whether you’re a parent looking to save for your child’s education or an individual hoping to manage your college expenses more efficiently, the Upromise® World Mastercard® offers numerous advantages.
Key Features of the Upromise® World Mastercard®
- Rewards Program: One of the most attractive features of the Upromise® World Mastercard® is its rewards program, which allows cardholders to earn cashback in the form of Upromise dollars. These dollars can be used for a variety of purposes, but they’re primarily designed to help you save for college. Here’s how the rewards are structured:
- Upromise Dollars on Purchases: Cardholders earn 1.5% on every purchase, regardless of where they shop. This means that no matter where you use your card, you’re consistently earning money that can be used towards college savings.
- Bonus Categories: In addition to the 1.5% cashback on regular purchases, you can earn higher rewards in specific categories:
- Up to 10% on purchases made at select Upromise partner retailers, which includes major brands like Amazon, Walmart, and others.
- 2% back on dining purchases at participating restaurants.
- 5% back on eligible purchases made through Upromise’s online shopping portal.
- Sign-Up Bonus: To encourage new cardholders, the Upromise® World Mastercard® offers a sign-up bonus of $200 in Upromise dollars when you spend $1,000 in the first 90 days from account opening. This is a great incentive to start earning and saving for education as soon as you get the card.
- No Annual Fee: Unlike many other premium credit cards, the Upromise® World Mastercard® has no annual fee, making it an affordable option for anyone looking to earn rewards without being burdened by extra costs. This is especially beneficial for students or families on a budget who want to save for education without paying a premium for the privilege.
- Flexible Redemption Options: The best part of the Upromise® World Mastercard® is how easy it is to redeem your Upromise dollars. These rewards can be transferred directly into your Upromise account and then used in several ways:
- Paying for College Expenses: Upromise dollars can be used to pay for tuition, books, or other educational costs at eligible schools and universities.
- Student Loan Repayment: You can also apply your rewards to reduce your student loan balance, making this a helpful tool for graduates who are looking to pay down their educational debt.
- Cashback: For those who prefer, Upromise dollars can be converted into a statement credit, offering the flexibility of a traditional cashback reward.
- Gift Cards: You can redeem Upromise dollars for gift cards to a wide range of retailers, which can be a nice perk for everyday purchases.
- Mastercard World Benefits: As a World Mastercard, the Upromise® World Mastercard® offers premium benefits that enhance your overall cardholder experience. Some of the most notable features include:
- Travel and Emergency Assistance Services: Enjoy access to emergency services, such as emergency card replacement, travel assistance, and legal referrals when traveling abroad.
- Concierge Service: With access to a 24/7 concierge service, you can get help with booking travel, arranging dining reservations, or even securing tickets to events.
- Purchase Protection: The card provides purchase protection, including extended warranties and coverage for stolen or damaged items.
- Travel Insurance: You can enjoy certain travel-related protections, including trip interruption coverage, lost luggage reimbursement, and more.
- Security Features: The Upromise® World Mastercard® is designed with advanced security features to protect your account and ensure that your financial information is safe. These features include zero liability protection for unauthorized purchases, chip technology for enhanced security in stores, and fraud monitoring that alerts you of suspicious activity.
Fees and Interest Rates
While the Upromise® World Mastercard® comes with a wealth of benefits, there are some fees and interest rates to be aware of:
- APR for Purchases: The interest rate for purchases is variable, typically ranging from 15.24% to 24.24% depending on your creditworthiness.
- Cash Advance Fee: Cash advances on this card come with a fee of 5% of the amount advanced (minimum $5).
- Foreign Transaction Fees: The card charges a 3% fee on all foreign transactions, so it may not be the best choice for international travelers.
- Late Payment Fees: If you miss a payment, you could be charged up to $40 in late fees, so it’s important to keep up with your payments to avoid these penalties.
How to Apply for the Upromise® World Mastercard®
Applying for the Upromise® World Mastercard® is a simple and straightforward process. You can apply online by visiting the official Barclays or Upromise website. Here’s how to apply:
- Check Your Eligibility: Before applying, ensure that you meet the basic eligibility requirements. This typically includes being at least 18 years old, having a valid Social Security Number, and maintaining a credit score of 660 or higher.
- Visit the Application Page: Go to the official Upromise or Barclays website and find the Upromise® World Mastercard® application page. The website will ask for your personal details, including your name, address, phone number, annual income, and employment information.
- Submit Your Application: Once you’ve filled out the necessary fields, submit your application. You’ll typically receive an instant decision on whether you’ve been approved for the card. If approved, you’ll receive your card in the mail within a few business days.
- Activate Your Card: After receiving your card, you’ll need to activate it before using it. Follow the instructions provided with your card to activate it either online or over the phone.
- Start Earning Upromise Dollars: Once your card is activated, you can begin making purchases and earning Upromise dollars on your everyday spending. The rewards will automatically accumulate and be available for redemption.
Final Thoughts
The Upromise® World Mastercard® is an excellent choice for anyone looking to save for college while enjoying the benefits of a traditional credit card. With its generous rewards program, no annual fee, and flexible redemption options, this card makes it easy to earn cashback for educational expenses and helps reduce the financial burden of tuition or student loans. Additionally, the World Mastercard benefits provide extra perks such as travel assistance and purchase protection, further adding value to the card.
If you are ready to start saving for college or want a reliable way to manage your educational expenses, the Upromise® World Mastercard® is definitely worth considering. Apply today and start earning rewards towards your educational goals.
