Barclaycard U.S. Relaunch Upromise Credit Card

Upromise now managed by Barclaycard U.S.

Upromise is now managed by Barclay Card U.S.

Under new management, it seems. Bank of America is no longer leading the Upromise program. This is not the first time the administration of this program has changed. Originally Upromise was managed by Citibank.

Upromise is a program in which family and friends can earn points toward the education of a child. The credit card was launched to compliment the existing program. The money earned from everyday spending with Upromise partners goes directly into a Upromise account. Account holders can choose to invest their earnings in a high-yield savings account or tax-deferred 529 plan. Upromise earnings can even be used to pay down a student loan or request a check that can be used for college or other expenses.

The credit card component of the program has changed management for the third time. Citigroup Inc., in 2008 sold the Upromise card portfolio to Bank of America. Barclaycard, the U.S. credit card unit of Barclays, is reissuing the credit cards after buying the $1.3 billion Sallie Mae card portfolio. Letters have been sent to the Upromise credit card account holders.

Another popular credit card from Barclaycard is the Barclaycard CashForward ™ World MasterCard®

Monica Kowollik

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