Fischer-Price is looking to make saving for your college a breeze with a new co-branded credit card. The new Fischer-Price 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.
Fischer-Price College Savings Mastercard® Launches
Fisher-Price, the world’s #1 infant and preschool company, has debuted its first-ever credit card. Powered by Concerto Card Company, a tech-forward company founded by financial services veterans that makes everything from application to rewards redemption simple and personalized, the new Fischer-Price College Savings Mastercard® earns up to 2% cash back when depositing rewards into an associated 529 College Savings Plan.
This unique feature allows families to earmark savings for a wide range of academic needs for their children while taking advantage of several tax benefits. The card has features designed to turn everyday spending into savings for children’s education and qualifying expenses. The full list of features include:
- 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)
- $50 bonus rewards 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
“Never Been Easier to Make a Lasting Impact”
“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. “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.”
Concerto’s flexible platform integrates with partners to develop and scale innovative rewards programs. The partnership of Fisher-Price, Gift of College, and Concerto will empower families with an easy way to start—and continue— saving for their children’s educational and career dreams with rewards from everyday spending.
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. The new Fisher-Price College Savings Mastercard debuts at a time when college tuition costs continue to soar. 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.
Concerto is a next-generation, tech-forward company focused on developing better credit card programs for innovative brands. The company combines creativity with leading-edge technologies and advanced analytics to deliver programs designed to engage customers and deepen loyalty. The management team has decades of experience creating and managing some of the country’s largest credit card programs. Concerto is backed by Matrix Partners and PayPal Ventures. Its partners include national consumer and retail companies and MLB, NHL, and NBA teams. Concerto provides both consumer and small business credit card products and is based in Austin, Texas.
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Featured image by Concerto