Upromise Credit Card Review – Forbes Advisor

Upromise® Mastercard®* vs. Discover it® Cash Back

The Discover it Cash Back card offers an entirely different rewards structure: Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
For some, the Discover it Cash Back may earn more rewards. But the convenience of earning unlimited 1.529% or 1.25% cash back may make the Upromise easier. It’s more likely that a choice between these two cards comes down to choosing between automated education investing or maximizing cash-back earning.

The Discover it Cash Back, like the Upromise Mastercard, has no annual fee. It also offers a low introductory APR on balance transfers: 0% for 14 months. The standard APR for purchases and balance transfers is 11.99% – 22.99% Variable.  The balance transfer fee is 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.

Upromise® Mastercard®* vs. Fidelity® Rewards Visa Signature® Card*

If you’re seeking a way to automate college savings, the Fidelity® Rewards Visa Signature® Card* merits consideration. The card earns an unlimited 2% cash back on every purchase you make and your earnings can be transferred into an eligible Fidelity deposit, which includes 529 college savings plans. There’s no annual fee and the card also comes with a slew of Visa Signature perks which include auto rental collision damage waiver, emergency cash and card replacement, travel and emergency assistance services, lost luggage reimbursement, travel accident insurance and roadside dispatch.

One potential caveat: Although you can also redeem your earnings for a statement credit or other options besides a Fidelity deposit account, you cannot take those rewards as straight cash back.

Upromise® Mastercard®* vs. Citi® Double Cash Card

The Upromise card’s simplified way to help cardholders save money for college makes it perhaps more convenient than other cash-back cards, but it doesn’t mean it earns the best rates around. The Citi Double Cash is a great example of a card that outshines the Upromise card when it comes to cash-back potential. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. It also comes with a head of the class balance transfer offer: 0% intro for 18 months on Balance Transfers followed by a regular APR of 13.99% – 23.99% (Variable).

Rewards earned on the Citi Double Cash are also far more flexible than Upromise rewards, as they can be used as a statement credit, redeemed for cash back, travel, gift cards, merchandise or converted to Thank You points and transferred to one of Citi’s travel transfer partners.

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