Anyone else tried college savings with "Upromise"?

Riss82

This isn't spam, I'm not trying to get anyone to use Upromise, so bear with me! I am genuinely trying to get feedback, I have no interest in making them money, lol. I will give a brief overview so people get what I'm saying, although if you know of it, just skip the next paragraph.

It's a website where you sign up, and use links through their website to get to like, wal mart or target or you can search for an item on their site and they'll reccommend online retailers. then once you buy anything there, you get a percentage back on your purchases into an account, which you can link to a 529. the percentage varies, but it's usually 1-3% So if you spend $10.00, you only get $.10-.30 cents. It's definitely little amounts at a time. You can get more by getting one of their credit cards (yeah, thats how they getcha!), or rather you dont have to buy online, because instead of rewards points you get 1% back to the account, but obviously thats only worth it if you will NEVER let it roll over past the month so you don't pay interest, which would completely NEGATE the rewards!!! ALthough there are a few sites that give like 10%, and they have lots of sales and such so that certain things will get you a good percent back.

Anyway! on to the point!

I'm just curious if any other moms out there have tried this site/service. My husband and I have been using it since December and have gotten just about $100, so it *is* technically adding up, because of big things like car seats and some home improvement stuff, and such.  But there have been several purchases that dont show up, and the site claims it can take up to 90 days from the purchase to even show.

  I'm not so organized as to constantly keep a running tally of every item I buy, since it can be little things. I mean, I need something from walmart or lowes or where ever, i go on and buy it, but maybe it's just a few bucks here and there. If I kept an itemized list and double checked for every little thing, it seems like I'd be spending all of my time just trying to get 20 cents here or $2 there... 

 So... the thing is, if you use their site, they give you money back. I've checked the prices against using just the stores sites without going through the Upromise link, and they arent jacking up the price to make up the amout you get. they're the same prices. So it's basically free money. BUT I'll admit, I don't think every charge has come through, and I just dont have the wherewithal to bombard the site with criticism that they arent making it simple enough for me to get something handed out, you know? But I do wonder whether it all actually works out, and my DH says he's expecting end up as a scam of some sort.

 But am I deluded for thinking this will be worth it over time? My husband thinks I'm kind of wasting the effort, since it's such a small amount. We've had some big dollar items recently, but hopefully we wont be spending hand-over-fist all the time. I know that 1% can add up to a lot over time, but he thinks of it like, we would have to spend $100,000.00 just to get between $1,000.00 to $3,000.00. DS is only 6 months! I think it's reasonable to expect that over 18 years, we'll go through a lot of online purchases.  ish. I dunno.

 Sorry! I know this is getting LONG. I'm just wondering if any Moms out there have used this site (which I'm pretty sure has been up for several years, but I've just started) for any older children or even for themselves? Has anyone been doing it long enough to see a real worthwhile return?

 clicking a link isn't exactly a lot of work, and they have an app you can download that goes with your web browser so it even reminds you when youre at a site that gets Upromis rewards. so I've been hoping that over time enough "free" money will build up that it will all be worth it, and trying to buy things online (if there's free shipping, or site-to-store or whatever), rather than just popping in to buy things, although that does take more patience!

Does this even sound worth it? Please give me feedback, and PLEASE, no snarky comments... I'm genuinely wondering if I'm grasping at straws.

If anyone has used it, or knows someone who has used it, did it take very long to get your rewards sent into your linked account? Did it "cheat" you out of any purchase rewards?

TIA

AvidVertigo

I myself have never used this system but are curious what others have to say.

Just wanted to say hi and welcome.  I hope you post here more often!

Riss82

I'm hoping to as well! Thanks for the welcome

kofmkg

I have limited experience with it from using it to pay down student loans for me and DH.  And I admit, I didn't read a lot of your post, but I will tell you my experience.

I linked my credit and debit cards to UPromise.  Every now and then, I get money back for store purchases-- mainly groceries or a couple of restaurants.  It's a few cents.  We don't generally purchase the name brand product sponsors (we do generic) and we often don't eat out at the sponsored restaurants.  My dad has linked his debit card- and we get some money back-- again just a few cents every quesrter.  I sort of suspect that not all purchases are credited (like gasoline purchases), but since it's just a few cents here and there, I don't sweat it.

I don't generally go through UPromise to make purchases online-- frankly b/c it's just not in my habit to do that.  The one time I attempted to go through UPromise to search for a new vehicle, it was a total song and dance trying to access the sponsored website through UPromise because it required passwords and so on, and for some reason the password I thought was correct did not work and it was a total PITA.

 Bottom line-- although every little bit helps, UPromise seems to be a PITA to use and not worth my time or changing my habits enough. 

Riss82

thanks for your input! lol, I dont blame you for not reading it all.

 How long did you use it/have you used it? Have you rolled any of the earnings into a bank account? and if so, did you experience any problems doing so?

So far they've told us we've earned about $100.00, but I have yet to actually get any of it. just wondering.

kofmkg

We have using it for a couple of years-- since it first hooked up with Sallie Mae.  The way we have it set up is that the money we "earn" gets credited to our loans with Sallie Mae automatically every quarter.  I don't recall any problems setting it up beyond, like you mentioned, suspicion that not every purchase is credited. 

We received statements by email every now and then.  I had to change my email settings because they were sending emails all.the.damn.time and it was really annoying.

I bet you will see the credit in a couple more months.  If 4 months pass and you don't receive the credit, that's when I'd start to ask around.  That's the problem though, it doesn't seem likes it's too easy to track since things aren't automatically credited sooner.

mrs.kapow

I echo kofmkg's sentiments.

My cousins swear by the CC with Upromise rewards. They said that's the way things add up well.  They have 529s for their kids through UPromise and from waht I understand, there's only the added benefit of automatic deposits on top of what you and your friends/family contribute.

I always forget to online shop via their site so I'm sure I'm losing out on $$, but not enough to worry me. My account is attached to my own student loans, though. If it were for LO, I might be more diligent. It's not like it adds a ton of time to your purchase. 

kmoses10

I use it. I haven't been "cheated" sometimes for online purchases it takes about a month to post. So far I have earned $70 for DD.

ankledolphin

have you set upa 529 plan or just the upromise thing?

i just signed up the other day and i thought it had to be connected to a college savings plan...but i haven't done that yet..so i wasn't sure if i should have created the upromise thing or not....