Credit Tips: Credit Card with College Tuition Rewards

Posted On: February 1, 2005

Author: ATTYGARLA
Joined: 21 Nov 2004
Posts: 1
Location: CT.
Posted: Sun Nov 21, 2004 9:38 am
Post subject: CARDS THAT PAY $ TOWARD COLLEGE TUITION ?

ARE THERE ANY CREDIT CARDS THAT PAY $ TOWARD COLLEGE TUITION?

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Author: ALex
Joined: 14 Aug 2004
Posts: 25
Posted: Sun Nov 21, 2004 3:41 pm
Post subject: Re: CARDS THAT PAY $ TOWARD COLLEGE TUITION ?

ATTYGARLA wrote:
ARE THERE ANY CREDIT CARDS THAT PAY $ TOWARD COLLEGE TUITION?

MBNA has two cards that will give pay money towards a child’s tuition.

1. They service a Fidelity Investment credit card that at the end of each quarter, they deposit money into an investment fund with Fidelity.. The amount of money is based on the amount of purchases, ect ..

2. I do believe that MBNA has another Credit card, but I am not sure of this one.. I think that it may be called the 529 investment card..

Best way to find out is to go to MBNA.com

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Author: sage
Joined: 13 Nov 2004
Posts: 17
Posted: Sun Nov 21, 2004 5:33 pm

There are several cards that pay rewards into a 529 savings account or other education-related account. Some of the cards have an education “theme”, but are really regular cash-back cards that don’t require rebates be put into a 529 or Coverdell account. I’ve reviewed most of them at 529rewards.com. The Fidelity/MBNA MasterCard is the only one paying 2%; the others are generally 1% cards. The Fidelity card caps rewards at $1500/year ($75,000 in eligible purchases). The Upromise savings club program is great but the CITI/Upromise credit card, though very popular, isn’t so hot (IMHO)…1% reward, $300 cap. Good luck!