Upromise To Save For College With AMasterCard

May 23, 2006, 1:00 a.m. EDT 1 Min Read

PURCHASE, N.Y. - (05/23/06) MasterCard Internationalannounced an exclusive debit deal with Upromise Inc. which willallow MasterCard debit card holders to set aside bonus points for acollege savings account. Members of Upromise will earn rebates fromthousands of grocery stores, gas stations, restaurants and retailstores that will be rebated into a Section 529 college savingsplan. Under the deal with MasterCard, members of Upromise whoregister a MasterCard debit card issued by a participatingfinancial institutions will earn extra cash contributions by makingeligible purchases with certain merchants. The contribution will beequal to 1% to 5% of the purchase price. Upromise is based inNeedham, Mass.

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