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The Upromise World MasterCard gives cardholders the opportunity to earn cash back in a number of ways and up to a rather significant percentage. In addition, the overall cost to have the card is low compared to the cash that comes back to the cardholder.
The Upromise World MasterCard is a credit card that is designed to save money and make you some money back as you spend it. While all of the details seem rather involved, it is also rather simple.
First, you can use the card anywhere in the world where MasterCard is accepted. By doing this, you earn a certain percentage in cash back for every dollar that you spend. There are opportunities to earn more cash back on purchases, such as making purchases from eligible movie theaters. If you want to earn more, then use your card at an Exxon or Mobil location. If you like to dine out often, then you can use it at a participating Upromise dining restaurant. To get the most cash back, you can shop online through Upromise.com with your card. If you are a Upromise member and you use your card on Upromise.com, then you can double that cash back.
There is no limit to the amount of cash back that you receive. You can even start out with a bonus applied to the card to get you started after you make your first purchase. Every quarter, you can redeem your cash back in checks of at least $10. However, you are offered other redemption options, such as the ability to contribute to a Upromise 529 College Savings plan. You can also make deposits in a Sallie Mae High-Yield Savings Account. If you have a child or you have a loan of your own that is serviced by Sallie Mae, you can use your cash back to make payments toward that loan.
All of these redemption options give you the ability to benefit your future in some way. This is a way in which cardholders are able to put the card to work for them.
The application process is simple and you can apply for a fast decision. All you do is fill in your basic contact information, information regarding your employment and finances, if you would like to add another card to the account, if you would like to receive paperless statements instead of paper statements through the postal mail, and whether or not there are any card balances you would like to transfer. If there are cards with balances that you would like to transfer, you can specify on the application.
After you accept the terms and conditions, you will be delivered a decision. If you are approved, the card should arrive within two weeks.
APR And Fees
There is no annual fee to this card and there is an introductory rate that lasts a specific period of time. Depending on the type of introductory offer, the interest is very low or there is no interest at all during the introductory period. This means being able to use the card and earn cash back without paying anything for the card.
Balance transfers operate the same way, as there may be no or very little interest in the balance transfer amount. However, there is a balance transfer fee that is either a minimum dollar amount or a percentage of the transfer amount, whichever is greater.
If you wish to do a cash advance, there is an APR that is associated with the amount of the advance and a cash advance fee. The cash advance fee is a percentage of the transaction or a minimum dollar amount, whichever is greater.
The next fee is the late payment fee. If a payment is made late, there is a fee assessed to the account and this fee can vary by state. When a payment is made late, a penalty APR is also put into effect. This penalty APR is much higher than the standard variable APR that goes into effect after the introductory period. If you are in the midst of your introductory period and the payment is made late, the period will come to an end and the penalty APR goes into effect. It can remain on the account indefinitely and will be applied to any balance that is on the card each billing period.
To avoid paying interest, you can pay off the entire balance within 23 days after the close of your billing period. This will not affect your ability to earn cash back. Instead, no annual fee and no interest means getting cash back for free.
When traveling abroad, there is a foreign transaction fee if you choose to use your card for purchases. The fee is a percentage of the transaction amount and it is charged per transaction.
If you make a payment and it is returned, there is a returned payment fee. If this returned payment causes the payment to be late, then a late payment fee will be charged to the account. If these fees would cause the card's balance to go over the credit limit, there will be no over the limit charge assessed to the card, as this card does not have such a fee. It cannot go over the limit on purchases and Barclaycard will not charge a fee for its own fees making the card go over its limit.
Overall, the fees on the card are rather standard. As for the APR, it is competitive. When combined with the cash back rewards and the ability to travel internationally with the card, it is a convenient card to have.
The Upromise World MasterCard is a card for those that want to get something back for using their card. Most people don't want high fees or strict requirements to get cash back. Instead, they want a card that is easy to manage.
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