Last updated on September 6th, 2023
Fisher-Price has launched its first-ever rewards credit card. The new Fisher-Price College Savings Mastercard® is designed to help family members save for expenses related to their children’s education, as the card earns enhanced rewards when redeeming towards a 529 college educational savings plan.
Fischer-Price and Concerto Launch Educational Savings Credit Card
Fisher-Price, the world’s leading infant and preschool company, has launched a new rewards credit card with Concerto Card Company, a tech-forward firm specializing in credit card programs. The new Fisher-Price College Savings Mastercard® works in concert with 529 education savings plans, letting you, friends, or family to supercharge your children’s education dreams with every purchase.
The Fisher-Price College Savings Mastercard debuts at a time when college tuition continues to climb. According to recent research, the average cost of college has more than doubled in the 21st century, with an annual growth rate of 7.1%. Additionally, student loan debt in the U.S. surpassed $1.75 trillion, and the average public university student borrows $31,410 to attain a bachelor’s degree.
About the College Savings Mastercard®
As mentioned, the College Savings Mastercard® helps family members save for expenses related to their children’s education by working in concert with an existing 529 education savings plan. Because of that, the card has features designed to turn everyday spending into savings for children’s education and qualifying expenses. These include:
- Earn 2% cash back on purchases when the cash is deposited into a 529 education savings plan (1% cash back if not deposited into a 529 plan)
- Receive a $50 bonus reward when you make $250 in purchases in the first three months and deposit rewards into a 529 plan ($25 bonus when not deposited into a 529 plan)
- No cap on rewards
- No annual fee
- Accepted everywhere Mastercard is accepted, worldwide
“Planning Today Can Pay Great Dividends”
The new card furthers the Fisher-Price commitment to enriching the first five years of childhood for every family by helping to ensure that planning today can pay great dividends when their child is ready for higher education.
“For more than 90 years, Fisher-Price has supported families at every age and stage of early childhood—from little moments to big milestones,” said Chuck Scothon, SVP and General Manager of Fisher-Price in a press release. “With the new Fisher-Price College Savings Mastercard, we’re continuing to build on our promise to ensure every child has a bright future by helping families start saving for school early on without impacting their day-to-day lives. As parents and loved ones begin turning their everyday spending into 529 education savings, they’ll discover it’s never been easier to make a lasting impact on a child’s future.”