The Upromise program is picking up steam. This week Citibank launched the Citi Upromise Platinum Select MasterCard. In April, Citibank joined with several other top U.S. companies in the launch of the Upromise college savings program.

Under the initial Citibank/Upromise deal, Citi set up a program to contribute 1% of purchases made on certain enrolled Citi credit cards for a $24.95 annual fee. Now, Citi has launched the new Upromise MasterCard without an annual fee. Cardholders receive 1% of eligible purchases made on the card as college contributions into their Upromise account. Under the Upromise program, families can multiply Upromise college contributions by building their own savings network of parents, grandparents, aunts, uncles and friends, all directing their contributions to a child's account. The Upromise service also offers the option of investing the contributions in a "529" college savings plan. For more information on the Citi Upromise Card, simply call Citibank at 1-800-950-5114.