Barclays
Upromise World Mastercard
Key Features
| Annual Fee | $0.00 |
| Sign-up Bonus | $200 Bonus Cash Back Rewards |
| Rewards Rate | 1.529% Cash Back Rewards |
| Intro APR | 0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening. |
| Regular APR | APR for purchases 18.74% to 29.74%, based on your creditworthiness and other factors. This APR will vary with the market based on the Prime Rate. After that, (and for balance transfers that do not post to your account within 45 days of account opening) your APR will be 18.74% to 29.74%, based on your creditworthiness and other factors. This APR will vary with the market based on the Prime Rate. APR for cash advances 29.99%. This APR will vary with the market based on the Prime Rate. |
| Other Fees | Balance transfer fee Either $5 or 5% of the amount of each transfer, whichever is greater. Cash advance fee: 5% (min. $10). Foreign transaction fee: 0%. The minimum monthly interest charge will be $1.00. |
| Network | Mastercard |
About this card
The Upromise World Mastercard presents a compelling value proposition for its niche audience of college savers, featuring strong rewards, a generous sign-up bonus, no annual fee, and no foreign transaction fees. The 1.529% cash back for 529 plan contributors is excellent for a no-annual-fee card, and the $200 bonus is highly attractive. However, these significant strengths are severely undermined by a combination of high variable APRs (up to 29.74%) and notably high balance transfer and cash advance fees, which detract from its overall financial appeal, especially for those who might carry a balance or need to use these services. Crucially, the card's overall rating is heavily impacted by the extremely poor customer service reputation of its issuer, Barclays. Widespread reports of long wait times, difficulty resolving disputes, and unexpected account closures without clear reasons create a significant reliability concern. While the card's features are designed to be beneficial and competitive within its specific segment, the risk and frustration associated with the issuer's poor support and account stability make it a problematic choice for many. The excellent product concept is unfortunately overshadowed by a problematic service experience, leading to a 'Poor' overall rating. **Strengths:** * Excellent rewards rate (1.529% cash back) for college savings, especially when linked to a 529 plan. * Generous $200 sign-up bonus with a reasonable spending requirement. * No annual fee, making it cost-effective for long-term use. * No foreign transaction fees, beneficial for international travel or online purchases. * Strong fit for its target audience – families actively saving for college. **Weaknesses:** * Very high regular APR range (18.74% to 29.74%), making it an expensive card if a balance is carried. * High balance transfer fee (5%) significantly diminishes the value of the introductory APR offer. * High cash advance fee (5% or $10 minimum). * Rewards are highly niche-focused, offering less flexibility for general cash back redemption. * The issuer, Barclays, has a severely negative customer service reputation, including reports of unexpected account closures, which creates significant trust and reliability issues for cardholders.
Pros & Cons
What's great
- No annual fee
- Introductory APR period for balance transfers
- Generous sign-up bonus
- Cashback on purchases
- No foreign transaction fees
- Free credit score access
Things to consider
- High regular APR
- High balance transfer fee
- High cash advance fee
What this card offers
Sign-up bonuses
- Earn $200 Bonus Cash Back Rewards.
- Earn $200 Bonus Cash Back Rewards after spending $1,000 on purchases in the first 90 days
Rewards
- Earn 1.529% Cash Back Rewards on your purchases when your Upromise Program account is linked to an eligible College Savings Plan. A current list of eligible College Savings Plans can be found at Upromise.com/CollegeSavingsPlans
- Earn 1.25% bonus cash back rewards on your purchases if your Upromise Program account is not linked to a College Savings Plan.
- Get up to $250 in cash back rewards per calendar year on eligible gift card purchases at MyGiftCardsPlus, powered by Upromise. Learn more at MyGiftCardsPlus.com.
Other features
- Get more with Upromise Round Up lets you round up your purchases to the nearest dollar, based on the limit you set (from $1 to $500). The total Round Up Amount is considered a purchase and converted to cash back rewards.
- No foreign transaction fees on international purchases.
- $0 Fraud Liability protection means you're not responsible for charges you did not authorize.
- Free online access to your FICO Credit Score lets you keep an eye on your credit score and get email alerts when we learn that your score has changed.
- Low Intro Balance Transfer Offer 0% introductory APR for 15 months on balance transfers made within 45 days of account opening. After that, a variable APR will apply, 18.74% to 29.74%, based on your creditworthiness and other factors. There is a fee for balance transfers.
Additional Notes
The Upromise World Mastercard is issued by Barclays Bank Delaware pursuant to a license from Mastercard International Incorporated.