Upromise.com
Apr 28, 2001 | 4:03 pm
#1
Original Poster
Join Date: Oct 2000
Programs: AA - Lifetime Gold
Posts: 1,513
Upromise.com
I'd like to first state that I am not associated with this company and do apologize if this is posted in the wrong board 
CNBC did a segment on Upromise.com on April 19th. It does not have anything to do with FF points except that it deals with Citibank. Its business model deals with college 529 programs and companies who partner with them. They are backed by General Motors so it's not a small venture.
I am putting this on the board as it partners with Citibank. If you have a Citibank credit card, such as the AA affinity card, for every charge put on the card Citibank/Upromise will contribute 1% to a designated 529 plan. At this point they only partner with Solomon Smith Barney but will be bringing Fidelity on soon. There is a $29.95 annual fee for the Citibank program.
You can contribute to your child's 529 or any other child's 529 program. Granted if you do not charge a lot to an Citi/AA card 1% doesn't seem like a lot of money but keep in mind that 529 programs are long-term deals that can go for up to 18 years depending on the child's age.
www.upromise.com
CNBC did a segment on Upromise.com on April 19th. It does not have anything to do with FF points except that it deals with Citibank. Its business model deals with college 529 programs and companies who partner with them. They are backed by General Motors so it's not a small venture.
I am putting this on the board as it partners with Citibank. If you have a Citibank credit card, such as the AA affinity card, for every charge put on the card Citibank/Upromise will contribute 1% to a designated 529 plan. At this point they only partner with Solomon Smith Barney but will be bringing Fidelity on soon. There is a $29.95 annual fee for the Citibank program.
You can contribute to your child's 529 or any other child's 529 program. Granted if you do not charge a lot to an Citi/AA card 1% doesn't seem like a lot of money but keep in mind that 529 programs are long-term deals that can go for up to 18 years depending on the child's age.
www.upromise.com
Apr 28, 2001 | 5:07 pm
#2
Join Date: Jan 2001
Location: Boston, MA
Programs: AA Lifetime Platinum (3MM), QF Lifetime Gold, Bonvoy Lifetime Platinum, Ex-Hyatt Diamond
Posts: 7,808
Not a bad idea...I am thinking of getting the Citi/AA card anyway, so I take it you get your miles plus your college savings credit, so it's a double dip, or you have to choose one or the other?
Apr 28, 2001 | 10:29 pm
#4
Join Date: Apr 2000
Location: SFO
Programs: UA 1P; HHonors Silver
Posts: 2,686
Plans aid college savings
State-sponsored 529 plans offer help with saving for college
Accounts grow tax-free until used to pay costs
http://www.sfgate.com/cgi-bin/articl...28/BU39566.DTL
State-sponsored 529 plans offer help with saving for college
Accounts grow tax-free until used to pay costs
http://www.sfgate.com/cgi-bin/articl...28/BU39566.DTL
Apr 28, 2001 | 11:37 pm
#5
Join Date: Mar 2000
Location: Sacramento, CA
Posts: 101
Just keep in mind that UPromise is not partnered with each state's 529 program, just a couple, and for now just the few that Solomon Smith Barney is managing. (I forget which ones they are.) The good thing about the 529 plans is that when the money is withdrawn, the gains are taxed at the beneficiary's tax rate, which is likely to be low or none for an individual just starting college or vocational school. It is a great college savings tool!
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Happy Travels,
Rhinochaser
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Happy Travels,
Rhinochaser
Apr 29, 2001 | 12:19 am
#6
Join Date: Jan 2001
Location: Boston, MA
Programs: AA Lifetime Platinum (3MM), QF Lifetime Gold, Bonvoy Lifetime Platinum, Ex-Hyatt Diamond
Posts: 7,808
My kids are being taxed at my rate -- whuich sort of sucks, and I would expect them to still be a dependant in college, unless this automatically stops at 18?
Apr 29, 2001 | 7:59 am
#7
Original Member
Join Date: May 1998
Location: London
Programs: BA Gold, ex-BD Gold, SPG Gold, HH Gold
Posts: 2,041
Nologic: The 'kiddie tax' under which your children are taxed at your rate generally ends at age 14, after which they will be taxed at their own rate even if still being claimed as a dependent. There can be more complexity, so see your 1040 instructions/tax preparer.
Apr 29, 2001 | 12:22 pm
#8
Join Date: Apr 2001
Posts: 4
Originally posted by phoenixitc:
I'd like to first state that I am not associated with this company and do apologize if this is posted in the wrong board
CNBC did a segment on Upromise.com on April 19th. It does not have anything to do with FF points except that it deals with Citibank. Its business model deals with college 529 programs and companies who partner with them. They are backed by General Motors so it's not a small venture.
I am putting this on the board as it partners with Citibank. If you have a Citibank credit card, such as the AA affinity card, for every charge put on the card Citibank/Upromise will contribute 1% to a designated 529 plan. At this point they only partner with Solomon Smith Barney but will be bringing Fidelity on soon. There is a $29.95 annual fee for the Citibank program.
You can contribute to your child's 529 or any other child's 529 program. Granted if you do not charge a lot to an Citi/AA card 1% doesn't seem like a lot of money but keep in mind that 529 programs are long-term deals that can go for up to 18 years depending on the child's age.
www.upromise.com
I'd like to first state that I am not associated with this company and do apologize if this is posted in the wrong board
CNBC did a segment on Upromise.com on April 19th. It does not have anything to do with FF points except that it deals with Citibank. Its business model deals with college 529 programs and companies who partner with them. They are backed by General Motors so it's not a small venture.
I am putting this on the board as it partners with Citibank. If you have a Citibank credit card, such as the AA affinity card, for every charge put on the card Citibank/Upromise will contribute 1% to a designated 529 plan. At this point they only partner with Solomon Smith Barney but will be bringing Fidelity on soon. There is a $29.95 annual fee for the Citibank program.
You can contribute to your child's 529 or any other child's 529 program. Granted if you do not charge a lot to an Citi/AA card 1% doesn't seem like a lot of money but keep in mind that 529 programs are long-term deals that can go for up to 18 years depending on the child's age.
www.upromise.com
Apr 29, 2001 | 12:27 pm
#9
Join Date: Apr 2001
Posts: 4
I have a 529 plan for the state of Illinois through Smith Barney. It's an excelllent way to save for your child's education. I just signed up on the upromise.com website to start taking advantage of all the big corporate sponsors (ATT, GM, Citibank etc.) If you don't have a plan setup, you could call Dan Steinberg at the Salomon Smith Barney office at the Sears Tower in Chicago. He's helped me with setting up accounts for my two daughters. Everyone should really look into this program.
Originally posted by phoenixitc:
I'd like to first state that I am not associated with this company and do apologize if this is posted in the wrong board
CNBC did a segment on Upromise.com on April 19th. It does not have anything to do with FF points except that it deals with Citibank. Its business model deals with college 529 programs and companies who partner with them. They are backed by General Motors so it's not a small venture.
I am putting this on the board as it partners with Citibank. If you have a Citibank credit card, such as the AA affinity card, for every charge put on the card Citibank/Upromise will contribute 1% to a designated 529 plan. At this point they only partner with Solomon Smith Barney but will be bringing Fidelity on soon. There is a $29.95 annual fee for the Citibank program.
You can contribute to your child's 529 or any other child's 529 program. Granted if you do not charge a lot to an Citi/AA card 1% doesn't seem like a lot of money but keep in mind that 529 programs are long-term deals that can go for up to 18 years depending on the child's age.
www.upromise.com
I'd like to first state that I am not associated with this company and do apologize if this is posted in the wrong board
CNBC did a segment on Upromise.com on April 19th. It does not have anything to do with FF points except that it deals with Citibank. Its business model deals with college 529 programs and companies who partner with them. They are backed by General Motors so it's not a small venture.
I am putting this on the board as it partners with Citibank. If you have a Citibank credit card, such as the AA affinity card, for every charge put on the card Citibank/Upromise will contribute 1% to a designated 529 plan. At this point they only partner with Solomon Smith Barney but will be bringing Fidelity on soon. There is a $29.95 annual fee for the Citibank program.
You can contribute to your child's 529 or any other child's 529 program. Granted if you do not charge a lot to an Citi/AA card 1% doesn't seem like a lot of money but keep in mind that 529 programs are long-term deals that can go for up to 18 years depending on the child's age.
www.upromise.com
Apr 30, 2001 | 8:00 am
#13
Join Date: May 1998
Posts: 3,069
Thanks phoenixitc, but I dont see AA cards listed as eligible. From the upromise site:
Eligible Credit Cards
The following credit cards issued by Citibank are eligible to contribute to the Upromise Service for Citibank Cardmembers:
Citibank Gold, Platinum Select; Driver's Edge; Dividend; Premier; Citimiles; Sony Card from Citibank Choice; Citibank Visa Signature; Jack Nicklaus Cards; Click Citism Platinum Select.
What am I missing?
Apr 30, 2001 | 9:39 am
#14
Original Poster
Join Date: Oct 2000
Programs: AA - Lifetime Gold
Posts: 1,513
Good eye! I spoke with a CSR and the AA cards DON'T qualify 
My apologies for this incorrect information, this is not what was originally stated by Upromise.com.
If you shop at one of the participating websites you will get the percentage contribution from the website but not the 1% if you use an AA Citibank card. This might not be advantageous to many who prefer to buy through Clickrewards but Upromise has more websites partnering with them than Clickrewards.
Again my apologies for the misinformation.
My apologies for this incorrect information, this is not what was originally stated by Upromise.com.
If you shop at one of the participating websites you will get the percentage contribution from the website but not the 1% if you use an AA Citibank card. This might not be advantageous to many who prefer to buy through Clickrewards but Upromise has more websites partnering with them than Clickrewards.
Again my apologies for the misinformation.