Upromise program is really a cash rebate!
You may have seen the Upromise rebate program in supermarkets. This program is geared toward earning rebates which are funded into a 529 college savings which can then be applied toward tuition.
What you probably didn't know is that those rebate earnings are yours to redeem at anytime and you do not have to fund tuition. It's a bit of a pain, but you must write a letter to them. If you're a Upromise member, you have to search a bit for the details.
Withdrawals are processed every calendar quarter and you can only request amounts that are funded and available, which means it could take up to 5 months to receive your earnings. That's up to 2 months after your purchase, and another 3 to get your refund check in the mail. But consider that some rebate credit cards only refund once a year.
The best thing about the Upromise program is that you can use any credit card, earn your credit card rewards or rebates and still earn Upromise savings. I'll talk more about some great ways to double dip next time.
posted by askmrlee @ 10:37 PM
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