Photo credit: kahle from morguefile.com
What is SaveUp?
SaveUp is a new rewards program that helps Americans succeed financially by encouraging them to adopt good financial behaviors, such as saving money and paying down debt. By rewarding people with the chance to win valuable or life-changing prizes, we hope to motivate them to become savers instead of spenders.
How does SaveUp work?
After registering savings and debt-bearing accounts with SaveUp, users earn credits by making deposits into their savings account or paying down debt. Credits can be redeemed for a chance to win prizes and users can earn additional credits by participating in daily challenges, engaging with educational content on the site or participating in social actions to help others save.
What kind of accounts can be linked to SaveUp?
Users can register any savings or debt-bearing accounts with SaveUp, including IRAs, 401Ks, mortgages, student loans or credit cards at more than 19,000 US financial institutions.
How can SaveUp afford to reward people for engaging in routine financial activities?
SaveUp partners with major consumer brands that furnish prizes for our games and drawings. Current brand sponsors are Virgin America, Banana Republic, GameStop, TurboTax, and many others. We also earn revenue from financial suggestions and partnerships with banks.
How do users win prizes?
Users can redeem credits for one or more tickets, including instant win scratcher-type tickets, weekly drawings and the monthly jackpot drawing.
What kind of prizes can be won?
SaveUp is giving away a wide range of prizes including gift cards from popular merchants, consumer electronics, home or wardrobe makeovers, luxury vacations, cars, and even a $2 million grand prize. New prizes are added every week.