Going to college is an expensive endeavor and not everybody has the means to afford it without a loan.
This is why many people look for opportunities to earn extra income or ways to save money so they can use it for more important things, like going to college.
Fortunately, there are a lot of opportunities and programs out there that do just that and one of them is called Upromise.
It’s a loyalty program that provides an opportunity to earn cashback and the earnings you get can be placed in a savings plan to help you save for college. You can also choose to withdraw the cashback via check.
The amount of money you can earn from this program will depend greatly on the purchases that you’ve made since it is a cashback rewards program.
But is Upromise really a legitimate opportunity for you to earn some cashback and use it to save for college? Or is it just a big scam that you should avoid?
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Upromise is a Legitimate Opportunity To Earn Cashback
Upromise is a loyalty program that the Sallie Mae Bank operates. The program allows people to earn cashback whenever they purchase products and services through the site’s platform.
The cashback earned can then be enrolled in a savings plan that the bank offers like the GoalSaver Account or in a 529 plan. You can also choose to withdraw money via check.
From the looks of it, I can say that Upromise is a legit opportunity that will really allow you to earn cashback.
The savings plan that the program is offering also seems to be legit as there are a lot of people who are able to save some money from their cashback.
Of course, not everyone is happy with the opportunity that Upromise provides. A lot of the complaints centers on the program not awarding the cashback for purchases made.
Another common complaint I saw is that Upromise is not allowing some members to transfer money at all. There are also issues with the company’s customer service team.
I’ll discuss these issues as we progress further in this review of this opportunity.
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Who Uses Upromise?
Upromise is designed for two groups with one group being brands and businesses who are looking to participate in the cashback program to attract more people to buy from their online stores.
The other group are people who are looking for opportunities to save money that they can use for a college fund.
For brands and businesses, Upromise provides them an opportunity to attract more people to shop in their online stores.
By partnering with the program, they’re able to attract more people to their online stores because of the cashback system that the program offers.
For people wanting to save money, Upromise provides them an opportunity to earn cashback whenever they shop through the program’s website.
You just need to go to Upromise.com and visit the partner merchant’s site through there. You also just need to link the credit card you’ll use for the purchase so the transaction can be tracked.
The program has partnered with a lot of restaurants and online retailers to allow you to earn some cashback. The cashback you earned can be placed in a savings plan or withdrawn via check.
The opportunity is available only to U.S. residents. In the next section, I’ll discuss in more detail the registration process and how this opportunity works.
How Does Upromise Works?
Upromise is a loyalty program created by the Sallie Mae Bank. It provides you with an opportunity to earn cashback when you purchase from one of the program’s partners retailers.
The cashback you earned can be put in a savings plan or a 529 plan to help you save for college. You can choose to withdraw it via check as well.
Joining the program is simple and free to do so. You just need to provide the required information like your name, email address, mobile number, and home address.
You’ll also need to provide an answer to a security question as a way to verify that the account is yours in case you need a password change.
After signing up, the next step is to link a credit or debit card to Upromise so you can gain access to the platform.
Once you’re inside the platform, you can start earning cashback from the program. The site has partnered with more than 1,000 online retailers that you can shop at that provides cashback opportunities.
You just need to go to the Upromise website, search the thousands of stores that they have partnered with and access it there.
From there, you can make a purchase using your linked credit card and you can earn cashback. The rebates can be as high as 10%, this will likely depend on the retail store and the product.
Aside from shopping, you can also earn cashback every time you dine out. Upromise has partnered with more than 10,000 restaurants across the U.S
You can earn 2.5% cashback at participating restaurants and the money you earn will be deposited in your linked Upromise account.
As mentioned above, the cashback you earn can be deposited to a Sallie Mae savings plan or an eligible 529 plan. You just need to link the savings account or the 529 account to your Upromise account.
Once this is done, any cashback you earn will automatically be deposited to your linked savings or 529 plan.
Upromise also has a Upromise Mastercard, where you can earn cashback on every purchase you make with the card. Using the Upromise Mastercard will also earn you 5% in rebates if you dine out at participating restaurants.
You can also choose to cash out your rebates and the site will pay via check. You just need to reach $10 to request for a cashout.
What People are Saying about Upromise?
People’s experience with Upromise, though, has been mixed, with some people happy and content with what they have got from the program.
They’re happy to get rebates for certain purchases they make and that the program helps them save money for college.
Others, though, are not happy with what they have experienced with Upromise. The most common complaint about the program is that some purchases they have made have not been credited.
Looking at the complaints though, it seems the program didn’t use to require members to access the retailers’ store through the Upromise website.
But since that’s required now, especially if they’re not using a Upromise Mastercard, then that will explain why some purchases won’t be credited for the cashback.
Another common complaint I saw was that the program doesn’t allow them to transfer money. There are a lot of members complaining that they can’t transfer the money they have saved to someone else’s account.
I’m not really sure why this is the case, but it’s also not helping that the customer service team of Upromise seems incapable of providing assistance.
A lot of the members who complained mentioned that answers to their questions or complaints weren’t managed and that the answer they got didn’t solve their problems.
What I Like about Upromise
Now that we know what Upromise is and what they are bringing to the table, it’s time to discuss what I like about this opportunity.
- The first thing that I like about Upromise is that they have partnered with a lot of different merchants and restaurants. This means that there is a big chance the merchant that you regularly shop at or the restaurant you go to is part of the program’s network. This also means that you won’t have to change your purchasing preference just to earn cashback.
- I also like that Upromise gives you the option to withdraw your earnings in case you need them. You don’t just have to use your cashback on a savings or 529 plan which is what the program really intends. You may need that money for something else instead, so you’ll at least have the option to withdraw it when needed.
- It’s also good that the minimum withdrawal amount is just $10. If you’re a regular shopper at their partner merchants, then it is possible that you can reach this amount in just a few days. This means you don’t have to wait that long to get your money.
- I actually also like that Upromise allows you to automatically have the money you earned through cashback transferred to your linked savings or 529 account. This is good because this program basically allows you to save money automatically, you don’t have to put the money in yourself. This makes saving money easier and less of a hassle.
What I Dislike about Upromise
Of course, not everything about Upromise is good, as there are also several things about this opportunity that I don’t really like.
- The first thing that I don’t like about Upromise is that they don’t have a good customer service team. I know that it is impossible to please everyone and complaints will always come. But what I can’t accept is customer support that is inefficient. It’s bad enough that there are issues, but it’s even worse when the support team takes a while to respond or they don’t provide a solution or assistance when they do respond.
- Another thing that I don’t like about Upromise is that there is no option to withdraw your earnings via PayPal. Though getting paid by check is not an issue, it would be better if this was an option to make it easier for some to access their money.
- I also don’t like that Upromise is only exclusive to U.S. residents. This kind of program would be a big help to a lot of people from all over the world.
Do I Recommend Upromise?
After learning more about Upromise and what they can really offer, I would say that it is an opportunity that is worth checking out if you live in the U.S.
Though the program has some negative comments and several complaints, I believe these are not enough to negate the positive things about the program.
Upromise was designed to help you save money, which you can use for college and that is exactly what the program is doing.
The beauty of this is that saving will be done automatically for you. Whenever you visit partner retail stores through the program’s website, your purchase will earn you cashback.
This cashback will then be deposited to the savings or 529 account that you have linked to your Upromise account. This makes saving money easier and less of a hassle.
So you could give this opportunity a try and it won’t cost you anything at all.