Review: Upromise Credit Card

upromise-credit-cardNOTE: This credit card has been discontinued. See “What’s the best credit card for me?” to help you choose a different credit card.

Upromise is a program from student loan company Sallie Mae that allows you to earn cash back at thousands of retailers and restaurants. While the cash you earn can be used toward college expenses, you can also simply take the earnings in cash and spend them any way you want. Upromise also offers a credit card that lets you piggyback on its cash back program, so you can expand the cash back you make on eligible purchases. Our review of the card is below:

The Upromise MasterCard is accepted anywhere MasterCard is accepted (which is just about everywhere). Here at Credit Card Catalog we prefer credit cards of this type that offer wide acceptance over store-specific credit cards, so we give the Upromise card a thumbs-up on that factor.

As mentioned above, the Upromise credit card allows you to piggyback the cash back you already earn with Upromise by giving you added cash back on certain purchases, including:

  • An additional 5% cash back on purchases at Upromise partner retailers and travel partners online.
  • An additional 5% cash back at Upromise partner restaurants.
  • 2% cash back at eligible movie theaters and department stores when purchases made inside (not online)
  • 1% cash back on all other card purchases you make.

You will also get a $50 bonus into your Upromise account if you use the card within the first 90 days of having it.

There is no annual fee for the Upromise MasterCard, which is issued by Barclays Bank. It offers an interest rate as low as 13.99%, but you could also be approved at a rate as high as 22.99% — no matter what rate you get, you don’t want to carry a balance on this card and pay interest that would essentially cancel out the cash back you receive.

You can apply for the Upromise MasterCard via this online application.