One of the best ways to save money for college is with the Upromise program offered by Bank of America. Upromise is a free service that helps you pay for college. You can get money back for college by shopping online, buying groceries, filling the gas tank, eating out at a restaurant, booking travel, and much more.
- College Savings Bonus: Earn a $25 bonus after the first qualified use of your account
- College Savings: 1% college savings on every purchase, 10% extra college savings on participating grocery and drugstore items, 2% extra college savings on eligible Exxon and Mobil gas purchases
- Upromise Partners: 600+ online and travel web sites, 22,000+ grocery and drug stores and thousands of participating items, 48,000+ retail, service and restaurant locations
- Savings Limit: None
- Savings Expire: Never
1.99% Introductory APR
The Upromise® World MasterCard® credit card offers a 1.99% Introductory APR on balance transfers and direct deposits. For the first 12 billing cycles you will get the special APR, but if you are late on a payment or exceed your credit limit you will lose the Intro APR. Payments you make will be applied to the lower rate balances first.
Variable APR Information
The APR you receive is determined based on your credit worthiness. You will qualify for one of the following rates: 9.24%, 11.24% or 13.24%. The rate you qualify for will apply to all purchases and balances transfers after the Intro period. Standard Variable APR is 19.24% for all Direct Deposits, Check Cash Advances, ATM Cash Advances, Bank Cash Advances, Overdraft Protection and Cash Equivalent transactions. Default Variable APR is 27.24% for all Purchase, Balance Transfer, and Cash Advance Balances if late or over limit. Bank of America states the following on how to determine your APR for each billing cycle.
Your APRs may vary. For each billing cycle, we determine each APR by adding a margin to the prevailing U.S. Prime Rate. The margin for the Standard Variable APR for Purchases and Balance Transfers is 5.99%, 7.99% or 9.99%. The margin for the Standard Variable APR for Cash Advances is 15.99%. The margin for the Default APR is up to 23.99%.
Upromise® World MasterCard® Fees
The Upromise® World MasterCard® Card has no annual fee, does have other fees you should be aware of as listed below:
- Standard Balance Transfer Fee: 4% of each such transaction (minimum $10).
- Direct Deposits and Check Cash Advances: 4% of each such transaction (minimum $10).
- ATM Cash Advances, Bank Cash Advances, and Cash Equivalent transactions: 5% of each such transaction (minimum $15).
- Overdraft Protection Cash Advances (if enrolled): 3% of each such transaction (minimum $10).
- Late Fee: Based on your balance as of the day the fee is assessed – $15 if $0 – $100; $29 if between $100.01 – $250; $39 if $250.01 or over.
- Overlimit Fee:None.
All Bank of America® credit cards
All cards issued by Bank of America include extra value and protection such as Total Security Protection® against fraud and unauthorized use of your card. You also have access to the online banking service and optional overdraft protection on checking accounts. If you choose to use your credit card for the optional overdraft protection your credit card account must have sufficient funds and be in good standing. Fees may apply. For details, please refer to the Credit Card Agreement.
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For more information on the Upromise® World MasterCard® visit the Bank of America website.
