WILMINGTON, Del.--(BUSINESS WIRE)--Today, Barclays US Consumer Bank announced a multi-year extension of its co-branded credit card agreement with Upromise® to issue the Upromise Mastercard® through 2027. The Upromise Mastercard, issued by Barclays since 2012, is designed for families saving for their children’s college education.
“Barclays is focused on helping our strategic partners succeed by creating products and experiences that drive greater loyalty while providing more ways for consumers to unlock value with the brands they love,” said Bob Highland, Head of Cards and Partnerships, Barclays US Consumer Bank. “Upromise has been a valued partner of Barclays for over eight years, and we are thrilled to extend our agreement with them to help individuals save for their children’s college education and get the most for their money.”
The contract extension is the first agreement Barclays has entered into with Upromise since Upromise was purchased by Prodege, LLC, an internet and media company comprised of leading consumer rewards platforms that deliver engaging content to more than 120 million members.
Chuck Davis, CEO & Chairman of Prodege, LLC, congratulated Barclays: “We are excited about extending our partnership with Barclays, allowing Upromise to provide families across the country with new opportunities to enhance college savings with rewards for everyday spending, shopping and dining.”
The Upromise Mastercard makes saving for college easier by turning everyday spending into significant college savings, and in the coming months, Barclays and Upromise will be rolling out new features for the card that will bring even more value to Upromise cardmembers. More information will be announced during Q1 2021.
Barclays US Consumer Bank is one of the fastest-growing top 10 credit card issuers in the United States. The bank creates customized, co-branded credit card programs for some of the country's most successful travel, entertainment, retail and affinity institutions, and offers its own branded online savings accounts and CDs. For more information, please visit www.BarclaysUS.com.
As a part of the Prodege family, Upromise provides unique opportunities for consumers to earn rewards for spending, shopping, dining out, and other activities, and then automatically deposits those rewards as contributions to any linked bank account or 529 Plan education savings account. Contributions into a 529 account can be invested and grow tax-free, and then can be withdrawn tax-free for qualified education expenses. Over the years, Upromise has awarded its members more than $1 billion in rewards. Upromise also sponsors the Upromise 529 Scholarship program helping more kids go to college. Visit http://www.upromise.com for more information.