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Health Savings Account; is it right for you?
Exploring the Health Savings Account; is it right for you?
The healthcare insurance marketplace, working with the federal
government, has recently begun to offer an alternative to
traditional health insurance. This new option, known as...
R & D Outsourcing Offers Huge Cost Savings
Despite increasing evidence that US companies are not achieving the types of cost savings they anticipated when entering into outsourcing contracts, in the field of Research and Development the savings still heavily outweigh the costs. While in...
Refinance & Mortgage Tips: Down Payment From Savings
Once you've figured out how much of a down payment you can make
on your home mortgage, it's time to determine how to document
the source of your funds for the down payment and closing costs.
Now you might be saying, "Why do they care where I get...
The Retirement-Savings Vs. College-Savings Dilemma
Before a child is born, every parent considers (even if briefly)
the cost of raising a child and to put them through college. And
the question about saving money that you'll consider at some
point is: how do I evaluate whether I should be saving...
Wholesale Lab Coats Offer Variety Along With Savings
Like a badge to a police officer, the lab coat is the trademark
of both medical professionals and scientists alike. Crisp, clean
and generally white, these necessities can cost a small fortune,
but they don't have to. With a variety of locations...
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College Savings Reward Plans - Making Them Work for You
You are probably well aware that college costs are soaring and that the need for parents to build college savings has never been greater. You may also be aware of various loyalty reward programs (such as Upromise and BabyMint) that pledge to help build your college savings by paying back a small percentage of the amount you spend using their credit card and/or buying certain products. Companies offer these programs because, in the aggregate, they know they will lead to higher spending on their products or services. Smart consumers learn to maximize earned rewards without altering their spending habits.
Reward programs can help build college savings. That's the good news. The bad news is that these programs have grown in number and become very complex. It is very difficult for parents to take time to fully understand, compare and select the program best suited for them. This article aims to cut through the morass and lay out a clear strategy for parents to follow to get the most from college reward programs.
The Basics
The various college savings reward programs fall into two broad categories: credit card rewards and savings clubs. The distinction gets blurry because many of the "savings club" programs also sponsor a credit card under the same name. Nonetheless, you can better understand and optimize your use of the programs if you categorize them in this manner:
A college savings reward credit card is a regular MasterCard or Visa card that - in lieu of frequent flier miles or cash back bonuses - makes a 1% or 2% contribution to a college savings account based on purchases made with the card.
A savings club (or loyalty program), on the other hand, is a membership club through which a network of merchants offers members special rebates for buying their products or services. Rebates are directed to the member's college savings account. Some savings clubs have membership fees or require that you have their affiliated credit card to be a member. Others are free and permit the use of non-affiliated credit cards.
College Rewards Credit Card
Associated Savings Club
BabyMint College Credit Card
Baby mint
Baby Center Credit Card
Baby Center Savings Program
Being Developed
edexpress
Fidelity/MBNA College Rewards
NONE
futuretrust Credit Card
futuretrust
Savingforcollege Credit Card
NONE
The Education Plan Credit Card
The Education Plan
Citi Upromise Card
Upromise
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