Barclays US Consumer Bank has signed a multi-year extension agreement with Upromise to issue their co-branded credit card through 2027.
First issued by Barclays in 2012, the Upromise Mastercard targets families saving for the college education of their children.
Barclays US Consumer Bank head of Cards and Partnerships Bob Highland said: “Barclays is focused on helping our strategic partners succeed by creating products and experiences that drive greater loyalty while providing more ways for consumers to unlock value with the brands they love.
“Upromise has been a valued partner of Barclays for over eight years, and we are thrilled to extend our agreement with them to help individuals save for their children’s college education and get the most for their money.”
The latest extension is said to be the first agreement Barclays has signed with Upromise since the latter’s acquisition by internet and media firm Prodege.
Prodege CEO and chairman Chuck Davis said: “We are excited about extending our partnership with Barclays, allowing Upromise to provide families across the country with new opportunities to enhance college savings with rewards for everyday spending, shopping and dining.”
Barclays and Upromise plan to introduce new features for the Upromise Mastercard to offer more value to Upromise cardmembers.
Additional information will be announced in the first quarter of next year, Barclays said.
In September this year, US technology major Apple reportedly ended its long-standing credit card partnership with Barclays.
The same month, Emirates Skywards, the loyalty programme of Emirates and flydubai, teamed up with Barclays to roll out its first co-branded credit card in the US.