College Students Can Spend and Save

This past April, Citibank and several other top U.S. companies launched the Upromise savings program targeted at college students, as well as parents and relatives. Under the program, one percent of all eligible purchases made on Citi's Upromise Platinum Select MasterCard were paid into the student's college contribution account with Upromise. (CardTrak does not report whether Citi pays interest on the account.) More recently, Citi has abolished the annual fee on the card. Moreover, relatives and good friends can join the parents in using the card, thereby contributing further to a student's savings account.