Many of you read my recent review of the Upromise program and the associated credit card. It seems that the folks at Upromise are transferring the business from Bank of America to Barclays Bank of Delaware. As a result, there are some major changes afoot. Most of these are actually going to streamline the rewards program to make it far easier to understand. Unfortunately, some of the changes will also mean lower rewards for cardholders.
Beginning August 31, 2012 you will no longer earn additional cash back on grocery items. Basically, this means from that point forward, you'll only earn 1% at grocery stores. This is definitely a loss to cardholders who could get extra rewards by buying certain Upromise-branded items in the stores.
Beginning September 24, 2012:
- Earn 5% on online purchase through Upromise. More streamlining here. This used to vary by every different online retailer. It could be mean a higher reward at certain retailers, but it remains to be seen which retailers will stay in the program.
- Earn 4% at Upromise Dining restaurants. Again, streamlining a program that used to vary by restaurant. This reward would mean more if they actually had more restaurants participating. In my area, they are few and far between.
- Earn 3% on gas purchases Exxon/Mobil stations. I don't know why anyone would use this card for gas when I've already recommended a card that will give you a 40% better reward at ALL gas stations.
- Earn 2% at movie theatres. This would be useful if the Discover® More Card (a sponsor) weren't offering 5% back all year on movies.
- Earn 1% on everything else. 1% cash back really just doesn't do it for me anymore. If you don't offer at least 2% across the board, you don't even get my attention.
- And, your paperless statements enrollment will be cancelled so look for lots of junk in the mail.
- And, your auto payment plans will also be cancelled so be sure to set those up anew.
Well, all that just about insures this card is getting tossed in the drawer and forgotten. Be sure to check out my post Maximizing What's in Your Wallet Q3 2012 for an updated list of better rewards you could be receiving.