Upromise - Has anyone signed up for this? What do you think?

@julievy (593)
United States
June 30, 2008 3:25pm CST
Does this service really work, have you received any funds towards college expenses using Upromise? I'm thinking of signing up for this to help my kids pay down their student loans, however, I would like to hear about other folks experiences with the service before I sign up. Thanks for your input!
2 responses
@ZephyrSun (7381)
• United States
30 Jun 08
I have a Upromise account and it takes a long time to earn a lot of money, which there is a certain amount, and I cannot remember what that amount is, before you can invest the money.I haven't yet hit the investment amount but I don't do a lot of online shopping. If you do a lot of online shopping it's great. You can add your grocery store keytags that also add to your account when you buy "Upromise" items.
@Sillychick (3275)
• United States
30 Jun 08
I have been using it for a short time, and have not saved much so far. I have not met the minimum yet to be applied to my student loan, so I haven't actually received any benefits yet. It does look promising (no pun intended) though, since you can save when you use your credit cards, store discount cards and at restaurants, not just online shopping. You can also ask others to sign up and donate their savings to the same account. It is a nice thing for family members to do, since it doesn't cost them anything. The one thing I have noticed is that it takes about a month for savings from a purchase to be credited to your account, which is a bit long. Still, I think it's worth a try.