Projo 7 to 7 News Blog

Affinity credit-card program Upromise and Bank of America today introduced two programs that offer rewards to help save money for college expenses.

The programs, both affiliated with MasterCard, allow people to earn cash back on either their gas and grocery purchases or their dining and grocery purchases. The money can help cover education expenses or pay down eligible Sallie Mae student loans.

Headquartered in Newton, Mass., Upromise is a subsidiary of SLM Corp. (NYSE: SLM), commonly known as Sallie Mae.

Both Upromise credit cards provide cash back on all purchases, which is transferred into the member's Upromise account. Neither card has an annual fee or a limit on the total of college savings a cardholder can earn. For a limited time, Upromise will put $25 into the accounts of new applicants.

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