UPROMISE: anyone using it, is it worth the trouble?

[New.Dad]

Shall I sign up and start "saving" (i.e. spending really) for the kid or not? Is this a 'fly-by-night" operation, or something serious? I wonder if they'll be around 18 years from now...

[TL]

I use it, and have maybe $50 earned over the last 3 years. It's really pretty easy to do, even if you only use it to accumulate cash from normal grocery shopping. $50 isn't much, but it's better than nothing, and I haven't changed my shopping habits at all to increase those earnings.

The great thing about is it that you can cash out the account (IOW, get a check) and the money does not have to be used for educational purposes. So, if you're worried about the stability of the company, just request a check every so often.

[Zoidberg]

Wikipedia knows all: http://en.wikipedia.org/wiki/Upromise

It's been around for a good while; I have all three of my kids set up on it. A few relatives got new credit cards through the Upromise program so they contribute as well.

ADDED: More here; http://www.epinions.com/Upromise_-_The_W...y_~reviews

[TL]

If you do decide to open an account, use the promo code "BN5" (minus the quotes) to get $5 added to your account. Good only for new accounts, funded by Beechnut. This should still work, if not, there are a variety of codes out there for $3.

[Jp!]

Just got bought by Sallie Mae.

[binky]

We use it for our kids. If you use the credit card, the contributions add up pretty fast. They transfer funds to a 529 plan every quarter. Better than nothing, though some would prefer rebate checks as opposed to 529 plan contributions for their credit card rewards.

Just my $.02.


Bink.