College Savings Reward Plans - Making Them Work for You

Written by Tim Paul


You are probably well aware that college costs are soaring and thatrepparttar 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 ofrepparttar 110637 amount you spend using their credit card and/or buying certain products. Companies offer these programs because, inrepparttar 110638 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'srepparttar 110639 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 selectrepparttar 110640 program best suited for them. This article aims to cut throughrepparttar 110641 morass and lay out a clear strategy for parents to follow to getrepparttar 110642 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 ofrepparttar 110643 "savings club" programs also sponsor a credit card underrepparttar 110644 same name. Nonetheless, you can better understand and optimize your use ofrepparttar 110645 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 withrepparttar 110646 card.
  • A savings club (or loyalty program), onrepparttar 110647 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 torepparttar 110648 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 permitrepparttar 110649 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

    Optimizing Rewards

    A few ofrepparttar 110650 college savings clubs require that you have their branded credit card to participate inrepparttar 110651 savings club. We suggest you avoid these programs in favor of a "best-of-breed" strategy that lets you pairrepparttar 110652 best rewards credit card withrepparttar 110653 best savings clubs. Here's a five-point strategy that can help you maximize college reward earnings:

    1. Selectrepparttar 110654 College Rewards Credit Card Payingrepparttar 110655 Highest Rebate on All Purchases - Typically, credit card rewards will generate greater college savings thanrepparttar 110656 savings club programs. This is simply becauserepparttar 110657 rebate (1% or 2%) is paid onrepparttar 110658 value of all purchases made withrepparttar 110659 card (subject torepparttar 110660 card's limits). Savings club rebates, onrepparttar 110661 other hand, are paid only onrepparttar 110662 value of purchases from specified participating merchants (although often at higher rates thanrepparttar 110663 credit cards). Most ofrepparttar 110664 college reward credit cards - pay a 1% rebate. The sole exception isrepparttar 110665 Fidelity/MBNA College Rewards MasterCard that pays 2% (up to $1,500 per year). You can find more detailed information aboutrepparttar 110666 various college reward credit cards by visiting www.529rewards.com.

    2. Userepparttar 110667 College Rewards Credit Card as Your Principal Method of Payment - Your aim should be to keep spending at current levels (i.e. within your income) but to replace checks, cash, and other credit/debit cards withrepparttar 110668 rewards card as your principal method of payment.

    3. Maximize Use ofrepparttar 110669 Credit Card But Always With a Goal of Payingrepparttar 110670 Balance in Full Each Month - Credit card acceptance is becoming more universal each day. This means new opportunities to earn 529 rewards - e.g. car and homeowners insurance payments, municipal water and tax bills, groceries, tuition, etc. For each $1,000 of monthly costs that you can shift torepparttar 110671 rewards card, you'll earn $10 - $20 of free cash for future college expenses.

    How to create an Irresistible Valentine’s Day Centerpiece:

    Written by Candee Stark


    Valentine’s Day is just aroundrepparttar corner which of course makes us think of love, romance and of course flowers! It seems this special day wouldn’t be complete without them. Flowers touch our souls and brighten our spirits which is why they have remained a popular choice for “lovebirds” all overrepparttar 110636 world!

    Depending on your mood andrepparttar 110637 flowers you pick, you can make this arrangement whimsical or elegant, so gather what you need and let’s get started!

    Supplies:

    Store bought heart shaped basket (about 4 inches deep)

    Florist foam

    Plastic lining

    Flowers ~at least two varieties

    Larger flowers (all same color) such as carnations or roses for center and filler flowers for accent

    Follow these simple steps to create your own Valentine’s Day Centerpiece:

    1. Line heart shaped basket with heavy plastic

    2. Cut a piece of florist foam inrepparttar 110638 shape of a heart~ foam should fill up entire basket

    Cont'd on page 2 ==>
     
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