Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Credit Card Offers and other Financial Planning topics.
Credit card companies are becoming more and more innovative with the rewards they offer customers. In order to appeal to their more responsible nature, credit card companies have gotten together with the college funding program Upromise to offer cash back rewards on purchases. The rewards are deposited directly into your child's college account in order to make sure that his or her dreams of a college education are fulfilled.
With this type of program, you can get rewards back from your grocery shopping, dining out, retail shopping, and online purchases. This makes spending money rewarding and useful in more ways than the simple accumulation of more stuff.
Before joining a program like this, make sure that the stores and other retail establishments you frequent are part of the plan so you don't have to change your spending and shopping habits in order to gain from the program. If you don't have children or if your children have already graduated college, you can donate your Upromise rewards to the accounts of your friends' or family members' college-bound children.