Review of the Upromise® World MasterCard®

Brendan Harkness

Brendan Harkness | Reviews

Sep 28, 2016

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The Upromise® World MasterCard® is issued by Sallie Mae, and offers up to 10% cash back at a select number of stores.

Cardholders will also enjoy a 15-month introductory APR for balance transfers, and no annual fee.

The Upromise card is designed for college students and anyone paying off student loans (including parents of prospective college students). You can redeem your rewards by check, use them to fund eligible college savings plans, or make payments towards student loans.

You don’t need to be a Sallie Mae customer to get this card.

Card Rating: 4 Out Of 5 Stars

We gave this card 4 out of 5 Stars because it offers a very high amount of cash back – up to 10% at a pretty wide selection of retailers. This is much higher than most offers, so if you can shop at those retailers frequently you stand to save a lot with this card. You’ll be able to easily put your rewards towards a college fund or paying off student loans, which is a nice convenience.

There aren’t a lot of bells and whistles on this card, so it loses a single star for being pretty simple. But that’s ok, because it’s a great offer on its own, and you can look to other credit cards for other features. You will be able to see your FICO score any time for free, without hurting your score, and that can be very useful.

This card might be a great way to find savings on your frequent purchases, and put some of that cash away to pay for school. Is it right for you? Keep reading to find out.

Upromise® World MasterCard®

For People with
Excellent Credit

  • Annual Fee: $0
  • Interest Rate: 14.24% - 23.24% Variable
Quick Card Facts
  • $100 Cash Back Bonus after first use of card within 90 days of account opening
  • Earn up to 10% total cash back as a Upromise member when you use your Upromise MasterCard on eligible purchases at online retailers and travel partners through Upromise.com
  • 2% cash back on eligible in-store and movie theater purchases
  • 1% cash back on all other purchases
  • No Limit to the total cash back you can earn on eligible purchases
  • No rotating reward categories
  • Complimentary FICO® Credit Score

The Rewards

  • Up to 10% cash back at eligible retailers through Upromise.com
    • 5% cash back when you make eligible purchases at Upromise.com
    • 5% cash back when you pay for those purchases
  • 2% cash back on eligible in-store department store and movie theater purchases
  • 1% cash back on all other purchases
  • $100 cash back for using the card within the first 90 days

You’ll need to activate your card and become a Upromise member before you can start earning rewards.

There are quite a few retailers available through Upromise for the 10% cash back, some of which you can access online and others in-store. These include Amazon, restaurants, travel services, and many others that rotate in and out. You can see a full list of eligible Upromise retailers on their website.

For the 2% cash back category, you’ll need to be at an actual department store or movie theater, not shopping online. Eligible department stores include stores like Macy’s, JCPenney, Nordstrom, Sears, Kohls, Bloomingdales, etc.

You can redeem your cash back in the form of a check every month for at least $10, or by using one of the methods described in the Benefits section below.

The Benefits

Perks

  • Free FICO® Credit Score

    See your FICO score online for free anytime, without hurting your credit.

  • 529 College Savings Plan

    Use cash rewards to contribute to an eligible 529 College Savings plan.

  • Sallie Mae High-Yield Savings Account

    Deposit cash rewards into an Sallie Mae high-yield Savings account.

  • Student Loans

    Use cash rewards to pay for eligible student loans.

The Costs & Fees

Annual Fee Intro APR for Balance Transfers Regular Purchase APR Regular Balance Transfer APR Cash Advance APR
$0 0% for 15 months, made within the first 45 days of account opening 14.24% - 23.24% Variable See Terms See Terms
Balance Transfer Fee Cash Advance Fee Foreign Transaction Fee
 See Terms See Terms See Terms
Penalty APR Late Fee Returned Payment Fee
See Terms See Terms Up to $37

The Upromise card offers a 0% introductory rate for balance transfers for 15 months. So if you have a balance on another credit card with a high interest rate, this card could help you pay it off at no interest.

You won’t have an introductory 0% rate for purchases, which means interest will start accruing on them. But if you pay off your balance in full each billing period, you can completely avoid interest charges.

The Bottom Line

The Upromise World MasterCard can be very rewarding if you use it right.

The main feature is the 10% cash back at select retailers. So check out the list of eligible Upromise retailers – do you shop at them often, and could you use the Upromise portal to make a lot of purchases?

If so, you could save quite a bit of money over time at that rate, putting it towards college or getting checks in the mail.

On top of that, if you need a balance transfer this card comes with a 15-month 0% offer. That’s very long compared to most other cards, and it gives you over a year to pay down a balance without worrying about interest.

There isn’t a whole lot more to this card. Just be sure to pay your bills on time, try to avoid paying interest, and you’ll be saving for college and improving your credit score at the same time. You’ll even be able to check your FICO score whenever you’d like to see it going up.

Apply for the Upromise World MasterCard

Want to apply for or learn more about this card? Just click the name below.

Upromise® World MasterCard®

For People with
Excellent Credit

  • Annual Fee: $0
  • Interest Rate: 14.24% - 23.24% Variable
Quick Card Facts
  • $100 Cash Back Bonus after first use of card within 90 days of account opening
  • Earn up to 10% total cash back as a Upromise member when you use your Upromise MasterCard on eligible purchases at online retailers and travel partners through Upromise.com
  • 2% cash back on eligible in-store and movie theater purchases
  • 1% cash back on all other purchases
  • No Limit to the total cash back you can earn on eligible purchases
  • No rotating reward categories
  • Complimentary FICO® Credit Score
Not the card for you? Check out our post: The Best Credit Cards for College Students– 2016.

If you use this credit card, how do you like it? Leave your own review of the Upromise World MasterCard, we’d love to hear from you!

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