SaveUp: A Rewards Program that Pays You to Save

 

Unless you’ve been living under a rock for the last decade, everybody knows about credit card rewards programs. For those of you who have been living like a worm, these programs reward you with points for spending money using their company’s credit card. The points that you are rewarded with may be redeemable for things like free airline miles, discounted hotel stays, select electronic equipment, or used like cash as a statement credit.

Personally, we love using cards with great rewards. The key is to use these cards in a VERY responsible way. You should never, ever carry a balance. We use our credit cards like cash. We purchase almost everything we buy with our preferred credit card, then pay the balance off several times a month. It works great, and you can really get a lot of “free” money if you play the game correctly.

Unfortunately, the catch is that you have to spend money in order to make money. Still, credit cards have been the only product that has been offering these sorts of rewards to their customers. That is until now.

 

SaveUp: A New Kind of Rewards Program

While surfing the internet on my recent day off, I stumbled across this really cool new program. SaveUp is a website dedicated to helping you save, and they actually reward you with credits for doing so!

“This is too good to be true,” you say. I tell you it IS true. The more you save, the more credits you earn toward prizes offered by their sponsors like Nike, Hilton, and GNC.

 

How Does It Work?

In order to start gaining credits, all you have to do is open an account at SaveUp. There, you will safely link your financial information to their system. Users can register any of their savings accounts – including 401K, IRA, or other savings accounts – as well as any debt-bearing accounts like student loans or mortgages. Therefore, every time you do something financially savvy like save money in your bank account or pay down your debt, SaveUp is notified and you earn credits. They are linked to more than 18,000 financial institutions in the U.S., so chances are that your bank is already connected to them. It is so simple, it almost doesn’t seem possible!

 

What is the Catch?

There doesn’t appear to be a catch! SaveUp is able to market itself as a free service due to two things: their sponsorships and their financial partners. Some of the biggest names in business sponsor SaveUp so that they can provide you with great prizes to keep you motivated to save. If you choose to do business with one of their financial partners, SaveUp earns a commission for referring you to them.

 

How Do I Sign Up

While I will still be using my credit cards to earn rewards, I also love being able to promote SaveUp here at Club Thrifty. We are always preaching the value of saving here, and to be able to offer everybody a chance to earn rewards for making good financial decisions feels great. If you are interested in earning credits for actually saving money, just click the link here for more information. Check out SaveUp today, and start getting paid to save!

 

 

(Note: Although this is not a paid advertisement, Club Thrifty will recieve a nominal stipend if you choose to complete an application form for SaveUp through one of our provided links.)

About Greg

Greg Johnson is a proud husband, father, and debt crusader who is in the process of becoming debt free. He is the co-founder of the personal finance website Club Thrifty, where he brings the awesome sauce each and every day.

Comments

  1. It sounds like a very interesting service. I’m intrigued as to what kind of rewards people actually earn. Unfortunately I have feeling this service is only available in the US currently. So us Canadians probably have to wait for them to expand.

  2. Sounds pretty slick. I’ll take a look at it tonight – I’d love to get bonuses for paying down our debt, too!

  3. This site sounds great! I’ll have to check it out. Thanks :)

  4. That sounds like a very cool service. So you get rewarded for saving? So does it just track your accounts like Mint?

    • From what I understand, yes. Then you apparently get rewards based on what you save. I wondered what they get in return for giving those rewards….but I think it’s just their way of paying to advertise to a “captive audience.”

  5. In the UPromise program they’re allowed to track your spending. I’m wondering if this is the “catch” here as well. Advertisers want to watch you shop…. I still use UPromise even though I know this. This sounds pretty cool, too.

    • Yeah, it does. I’m going to check it out and see what I think. I’m always a little hesitant to link my bank accounts to anything.

  6. Very interesting. I’ll have to look into this some more tonight. I hope they give points for investment accounts and not just savings. Thanks for the info!

  7. The catch is that you get credits to play games with a CHANCE of winning, not actual prizes. It’s still fun though. And you also get credits for making payments on your credit card. I put everything on them and pay them in full every month, but that still counts. Excellent! And yes, you can link IRA/401K accounts as well.

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