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  1. #1
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    Sounds like most of us will be out of business very soon. I hope they'd hire me as a janitor.

    I've been trying to understand how this thing took off, really... I am just stoned. I can not compete with US Government.


    ==============================================
    About Upromise
    Upromise, Inc. is a college savings accelerator that helps families create their own college savings network with trusted companies and their extended family and friends. The free Upromise service also makes it easy for families to invest their savings in professionally managed, tax-advantaged college savings accounts. The Upromise Education Foundation, an affiliated non-profit entity, will help lower-income students make it to college, realize their potential and earn a degree. Upromise is located in Brookline, Mass. For more information, visit www.upromise.com or call 617-582-1400.

    The Upromise Advisory Board is comprised of leaders in education, government and business, including: Bill Bradley, former U.S. Senator; Kim Clark, Dean, Harvard Business School; Johnnetta B. Cole, President emeritus, Spelman College; George Fisher, Chairman, Kodak; Thomas Kean, President of Drew University and former Governor of New Jersey; Amos B. Hostetter, Jr., former chairman, Continental Cablevision (now AT&T Broadband); Donald Kennedy, Professor and former President, Stanford University; Madeleine Kunin, Former Governor of Vermont and former Deputy Secretary of Education; David Rockefeller, Jr., Rockefeller & Co., Inc.; Donald Stewart, former President, The College Board; Dr. Clifton Wharton, former Chairman and CEO, TIAA-CREF and former President, Michigan State University; John C. Whitehead, former Chairman, Federal Reserve Bank of New York and former Co-Chairman, Goldman, Sachs & Co.
    ---------------------------------------
    Excite@Home's Former CEO Sees Promise in Upromise

    George Bell is named the chief executive of the affinity-marketing program that will help parents save for their children's college education.

    Upromise, conceived by Digitas founder Michael Bronner in January 2000, is an affinity-marketing program with a higher calling – it helps parents save for their children's college education. Like frequent-flyer programs, Upromise network companies, which include GM, CVS, AT&T, Citibank and numerous e-commerce sites, will contribute to a tax-deferred college savings plan, managed by Fidelity or Salomon Smith Barney, when members buy their products.

    -------------------------------------------
    From: http://www.thinkglink.com/529.htm

    2. What if my kid never goes to college -- what happens to the money?

    The money that is contributed from the companies is tracked through Upromise and then invested in a 529 account run by a huge financial investment company, Salomon Smith Barney and Fidelity Investments. 529 plans permit you to transfer the funds to other children, if the named child doesn't go to college. You should also be able to spend the funds on your own college tuition, or that of your spouse. It's almost certain someone in your family will go to college.

    Q: How does UPromise work behind the scenes? What do they do with the money?

    A: UPromise benefits by being paid an administrative fee by the companies involved in the marketing plan. So Upromise charges you nothing. Upromise tracks the money and then invests it in one of your 529 accounts. The money is now in your account where it will grow for your children's college education expenses.

    Q: Are there any downsides to signing up (other than perhaps getting on a million mailing lists), or is it really free money? Some have suggested that with no track record, it remains to be seen what will happen when it comes time to "cash out."

    A: There seems to be no down side other then the obligatory marketing material. You do have to register your credit cards with Upromise because this is how they track your spending. However, once the cash has been transferred to the 529 plan, it's out of UPromise's hands. Fidelity Investments and Solomon Smith Barney are well-respected Investment houses. Your investment is safe there.

    ============================================

    Wooo hooooo... I am stunned. My government is providing college education to my children by screwing me. There is NOOOO WAAAAAYYYYYYYYYYYYYYYYYYYYYYY anybody can stand to be a competition to UPromise! What do U promise to your customers? This is BIG.. BIIIGGGG... BIIIIIIIIIIIIIIIIIGGGGGGGGGGGGGGGGGGGGGGGGGGGG


    Farewell to all.. I am off to apply for jobs at UPromise.

    - BluesX

  2. #2
    ABW Ambassador Ron Bechdolt's Avatar
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Farewell to all.. I am off to apply for jobs at UPromise.

    - BluesX

    <HR></BLOCKQUOTE>

    Well, before you do, send me all your web site files and domains. I'll do my best to salvage as much as possible from them. [img]/infopop/emoticons/icon_wink.gif[/img]

  3. #3
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    BluesX

    eBates does something similar to that for a while already, and we're still here.

    I'll say, there's plenty of fish in the ocean, so don't worry about it.

  4. #4
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    Actually, I have my fingers crossed and waiting for the next BIG news...

    UPromise, the latest corporate scandal backed by U.S. Government.

    The government can not just do anything right!

    - BluesX

  5. #5
    ABW Ambassador Andy's Avatar
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    I hadn't heard about Upromise until now. In my opinion, they couldn't be making an announcement about it at a worse time.

    The Advisory Board reads like a Who's Who of everything bad in America right now: big corporation big wigs, politicians, and the CEO is from Excite@Home, a big dot com flop.

    Right now, America doesn't trust big business, government/political backing means nothing, (unless you have your hand in someone else's pocket).

    I'm not going to worry about it, someone involved will eventually be in some nasty scandal, and everyone will want their money back.

    Andy

  6. #6
    ABW Founder Haiko de Poel, Jr.'s Avatar
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by nighthawk:
    BluesX

    eBates does something similar to that for a while already, and we're still here.

    I'll say, there's plenty of fish in the ocean, so don't worry about it.
    <HR></BLOCKQUOTE>

    FYI - eBates will be addressed, this week me thinks [img]tongue.gif[/img]

    Haiko

  7. #7
    Chick with Brains Tracy's Avatar
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>UPromise benefits by being paid an administrative fee by the companies involved in the marketing plan.<HR></BLOCKQUOTE>

    Oh give me a break. They're collecting affiliate commissions, and only giving up a small percentage of it to the "529 account."

    I'm very leary of something that claims to be altruistic, when what they are really doing is lining their own pockets. I'd love to know what the perks are for the "Advisory Board." The probably have to fly first-class to exotic resorts where they stay in the most expensive suites in order to have a meeting of the Board.

    Good grief! I wouldn't worry about them. They're just another scam, and some smart reporter will dig deep and tell the real story eventually.

  8. #8
    Defender of Truth, Justice and the Affiliate Way
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Tracy V Grant:

    I'm very leary of something that claims to be altruistic, when what they are really doing is lining their own pockets.
    <HR></BLOCKQUOTE>

    Case in point, Buyersport which after holding your rebates for a year, if you don't provide personal information to a third party (unnamed) payor, will "donate" your money to charity. This charity being the Lexy Foundation, owned and operated by the owners of Morpheus. ::cough, cough:: I'd love to see the tax reports of the Lexy Foundation, which are public record, if the they are truly a nonprofit. [img]/infopop/emoticons/icon_frown.gif[/img] Only you got to go to DC and view them in person.

    What kills me about UpPromise is they say you have to give them your credit card info because that's how they track your spending.??? What kind of tracking system is that? I don't think so!

  9. #9
    Resident Genius and Staunch Capitalist Leader's Avatar
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    Another competitor in the ocean, big deal.

    The fact that the government has something to do with it is even better. Every little thing they want to do will probably get bogged down in oceans of red tape, while we nimbly dance by 'em to get the sales!

    Although since it's got politicians on its side, it might eat subsidies (like Amtrak) for years and years instead of dying as quick as it should. Still, big deal. If they subsidize it, it'll only mean that the place isn't succeeding as a competitor!

  10. #10
    2005 Linkshare Golden Link Award Winner  ecomcity's Avatar
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    Planning your kid's college fund can be creative or just secure. Insurance companies sell policies that do just this regardless of whether the parents live or not by the time the kids 18. In my case I just took a chance and bought my 2 toddlers 1000 share blocks each of McDonalds stock 15 days before they went public for 10.00 per share. This was a special invite by Payne Webber for young executives willing to take a 10 day class in stocks & Bonds and the sale had no commission fee on the 1000 share block. Those 2 boys not only attended Class colleges, but also turn multi-millionaires when they turn 21. Damn hamburger stock split so many times cause their board rightfully thought people won't pay more than 25.00 for a hamburger stock.

    The smoke and mirrors added to the untrustworthly "affiliate" management fee makes me suspect this one is headed to oblivian. My boys own a few bonds -no stocks and used the McDonalds cash to buy lake front cottages in MI and NY. One's a lawyer and the other works for National Geographic. They both think their Dad's a dummy who just got a lucky stock tip. They are your kids and no big wig greedy investment pool will guarantee them a college fund....so put away some savings or buy a guaranteed insurance policy where your money is protected.

  11. #11
    ABW Veteran jc101's Avatar
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    Hmm before you totally put down Upromise affiliates. Remember they are affiliated with one of the biggest grocery chains in America (Safeway) so give me your opinion? How could they be a scam if Safeway is affiliated with them? just my 2 cents.

    Jason

    [ 07-30-2002: Message edited by: jasonco12 ]

  12. #12
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Remember they are affiliated with one of the biggest grocery chains in America (Safeway) so give me your opinion? How could they be a scam if Safeway is affiliated with them? just my 2 cents.<HR></BLOCKQUOTE>

    Thank you for the laugh. I needed that.

    My question would be, they are affiliated with one of the biggest supermarket chains in the USA, how could it NOT be a scam.

    Chet

  13. #13
    ABW Veteran jc101's Avatar
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    your welcome for the laugh...

    Jason

  14. #14
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by BestLittleFreeHouse:

    What kills me about UpPromise is they say you have to give them your credit card info because that's how they track your spending.??? What kind of tracking system is that? I don't think so!
    <HR></BLOCKQUOTE>

    That's the kind of tracking system you use when online commerce isn't your main concern. Upromise is giving people kickbacks for purchases made in brick-and-mortar locations.

    It's not an entirely new concept. There have been rewards programs like this for years in the restaurant industry (like iDine), apparently making money and keeping a low profile. It's a business model that works, and dismissing it out of hand (because ABW members haven't heard of it before) may be short-sighted.

    [ 07-30-2002: Message edited by: islander ]

  15. #15
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Haiko:


    FYI - eBates will be addressed, this week me thinks [img]tongue.gif[/img]

    Haiko
    <HR></BLOCKQUOTE>


    Can you give us an update on this?

  16. #16
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    FYI - IIRC Upromise is a Befree "merchant"

    Yup..
    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>
    Upromise is an easy, new way for families to save money for college and now you can play a part! Just sign up to be an affiliate and start placing our links on your website. You'll be compensated for helping families learn about this great program. It's a chance for you to let your website visitors know about a way to earn free money for college. They'll thank you for it and so will we.

    Join Free
    It's absolutely free to become a Upromise affiliate.

    Earn Commission
    Get $3 or more per referral. Help families save money for college and get money for yourself as a bonus.

    It's Easy
    We'll provide you with the tools to become a Upromise affiliate. You can simply add our links to your site to begin. Then access reports online in order to see how well you're doing as an affiliate. The member signup and tracking are automatic. So what are you waiting for?

    <HR></BLOCKQUOTE>

    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Haiko:

    FYI - eBates will be addressed, this week me thinks

    Haiko


    Can you give us an update on this? <HR></BLOCKQUOTE>

    Also interested in that. [img]/infopop/emoticons/icon_biggrin.gif[/img]

  17. #17
    2005 Linkshare Golden Link Award Winner  ecomcity's Avatar
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    BeFree sure seems to be the affiliate network solution for all the questionable "lead" fee con-artists. Please put up our banners and if you do the "Chicken Dance" while standing on your head we might pay you upto 3.00 to build a billion dollar pool of other peoples money. Need we also offer those duping their visitors into this one are guaranteeing them they get spammed for life by the e-mail marketing industry.

  18. #18
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    One thing I've noticed about the Upromise/College savings program is that
    after the first year , the savings accounts are subject to maintainence fees .

    Unless you are a big time shopper , it seems like the amount saved could be wiped out by those fees .

    For anyone planning to use this as their only savings, and not add their own funds into it monthly, they may be surprized to find out the following year that they have next to nothing in their college funds .

    I'm sure that lot's of people will realize the fact that it's not in their best interest to charge everything on a credit card registered with Upromise , only to earn 2%, and pay anywhere from 9-22% interest .

    I have been registered with Upromise for a while now (since the grocery store cash back came out), and have earned a measly .64 cents in my account from groceries .

    Hardly worth committing myself to being brand loyal , and anyone could do better than those savings by clipping and using just one single manufacturers coupon.

    I think the popularity of this will die down, and it will mostly become a supermarket/offline shopping thing .

    (I hope anyway)

    Lisa

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