Upromise Rewards by Sallie Mae, Barclays MasterCard Upromise World MasterCard Introductory Bonus Reward Scam Convienient Loss of Card Registration Internet
Together, these two entities have initiated a rip-off that places an initial nail of disappointment into creating savings for higher education expenses. With this report I am not suggesting that the Upromise Rewards program is an outright scam. However, I believe that within the fine print of their multiple paged terms and conditions, there are plenty of potential pitfalls. Knowledge is empowering for new cutomers, so carefully read the fine print and thoroughly document your online activities. Their customer service is never forgiving, especially without proof to back up your position.
Please be forewarned, when you open the account with the enticement of receiving a $$ introductory bonus for using your new card within the first 90 days from opening the account, from the Upromise website you must print or printscreen the validation and registration of your new card, or any other card enrolled in the program. If not, you will have no proof that you had indeed registered your credit card(s). For friends, family and other supporters of your education fund remember to do the same, verify and document. The website database conveniently loses these registration(s) and customer service will claim that the required steps were not followed correctly as specified in the terms and conditions.
The most egregious part of this is that your credit card statements will indicate that the rewards that you have earned are being sent to Upromise.com, however none of this is true. Too bad, so sad, it's your fault. You may ask what becomes of these rewards if you do not reach the required minimums, they can evaporate and are placed into some unknown accounting bucket. They are never benefited back to you.