Comments on: The New Upromise Community Forums http://blog.filife.com/the-new-upromise-community-forums/ A production of FiLife, a new personal-finance site that goes live later this year. Mon, 13 Oct 2008 09:21:17 +0000 http://wordpress.org/?v=2.6.2 By: Ron Lieber http://blog.filife.com/the-new-upromise-community-forums/#comment-257 Ron Lieber Mon, 15 Oct 2007 20:13:54 +0000 http://www.filife.com/the-new-upromise-community-forums/#comment-257 Jack, there are at least two cards that earn cash refunds based on what you spend that then get funneled into a 529. This Amex is one of them. There's also the Citi Upromise MasterCard, which kicks back just 1% with a few bigger bonuses here and there. The Fidelity card looks better at first glance. Two things worth considering though: Amex isn't accepted everywhere that the Citi MasterCard is, so you could pile more spending on to the Citi card, thus earning more rewards. Also, the Fidelity refunds must go to a Fidelity 529 account. If you end up paying higher fees for funds there than you would for investments made with Citi refunds, the extra money disappears. I haven't done the math on this, but it might make a good "Credit-Card Personal Shopper" feature if you're game to go under the microscope... Jack, there are at least two cards that earn cash refunds based on what you spend that then get funneled into a 529. This Amex is one of them. There’s also the Citi Upromise MasterCard, which kicks back just 1% with a few bigger bonuses here and there.

The Fidelity card looks better at first glance. Two things worth considering though: Amex isn’t accepted everywhere that the Citi MasterCard is, so you could pile more spending on to the Citi card, thus earning more rewards.

Also, the Fidelity refunds must go to a Fidelity 529 account. If you end up paying higher fees for funds there than you would for investments made with Citi refunds, the extra money disappears.

I haven’t done the math on this, but it might make a good “Credit-Card Personal Shopper” feature if you’re game to go under the microscope…

]]> By: Jack Macy http://blog.filife.com/the-new-upromise-community-forums/#comment-254 Jack Macy Sun, 14 Oct 2007 02:58:09 +0000 http://www.filife.com/the-new-upromise-community-forums/#comment-254 Thinking about Upromise more, I have another 529 question. While I'm not sure I'll choose it, California's 529 plan has a rewards program set up with an AmEx card: "Fidelity Investments 529 College Rewards American Express Card rebates 1.5% of purchases". Have you heard if rewards options are common among 529 plans? Thinking about Upromise more, I have another 529 question. While I’m not sure I’ll choose it, California’s 529 plan has a rewards program set up with an AmEx card: “Fidelity Investments 529 College Rewards American Express Card rebates 1.5% of purchases”. Have you heard if rewards options are common among 529 plans?

]]> By: Jack Macy http://blog.filife.com/the-new-upromise-community-forums/#comment-245 Jack Macy Wed, 10 Oct 2007 05:02:29 +0000 http://www.filife.com/the-new-upromise-community-forums/#comment-245 Thanks for the tip, Ron. It's time - we need to get Owen's 529 account set up, and learning about Upromise (and it's future forum) is an amazing supplement to that. Funny how some sites just don't fall onto your radar until you hit new life stages. Thanks for the tip, Ron. It’s time - we need to get Owen’s 529 account set up, and learning about Upromise (and it’s future forum) is an amazing supplement to that. Funny how some sites just don’t fall onto your radar until you hit new life stages.

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