Citibank credit cards are essentially purpose-specific and the Citi Upromise Card, a financial product launched by Citibank in collaboration with the Upromise Network, is a special card that helps you save for future college expenses.

The Upromise network is a free service network (with a number of companies as its members) and it brings to the cardholders a service, which allows them to save for college spending even through everyday purchases; you can save on groceries as well as on drugs, even on gas.

Citi Upromise Card Features

The card has an introductory APR of 0% on balance transfers, which is applicable for 12 months, i.e., you receive 0% introductory rate on balance transfers, which you submit during the first twelve months. The regular annual percentage rate of 14.24 percent is pretty normal given that it is a reward/rebate card. (Remember, the annual percentage rate varies according to prime rates).

Rebates And Rewards

The Upromise Network and Citibank fulfill their promises/commitments to the cardholders by offering them rebates. Thus, each member of the network (literally each and every retailer) returns you back a percent of all your eligible expenses in favor of future college expenses in some tax-advantaged college savings account or plan.

Citibank further adds to this investment and returns another 1% of all your spending to your Citi Upromise Card account. Other additions to this account are savings from select purchases you make within the Upromise network the cardholder receives a good 10% of the expenditure back.

Since the Upromise card is a platinum level card, you can enjoy all the benefits of platinum credit cards. The platinum benefits include $1000000 auto rental insurance, travel accident insurance and many more. The card offers a wonderful advantage of using it in a simple manner without paying any annual fee. The card can be used to pay monthly bills without using cheques or postcards.

Other Benefits Of The Citi Upromise Card

Since, these rewards mean a prolonged wait period, you receive some additional benefits in the form of immediate rewards. These include 2 percent college savings on gas purchases at Exxon and Mobil, around 10 percent college savings on making purchases above 7000 from groceries and/or drugs, and at least 1 percent college savings for other purchases. You will also be eligible for rewards and rebates that are offered from time to time.

Few of the additional perquisites offered by the Citi Upromise Card are fraud and security protection services, auto rental insurance, lost luggage assistance, medical referral services, legal referral services and many more which have been mentioned above.