Home » Credit Card Reviews » Sallie Mae Credit Cards — Which is Best for You?

Sallie Mae Credit Cards — Which is Best for You?

Sallie Mae Credit Cards — Which is Best for You?

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Oct 25, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Sallie Mae —the country’s largest student loan lender — recently launched three new credit card products: the Sallie Mae Ignite℠, the Sallie Mae Accelerate℠ and the Sallie Mae Evolve℠.

In addition to offering cash back on every purchase, these cards offer $0 fraud liability, the ability to instantly pause your card, customized alerts, free FICO® credit scores and up to $600 in cellphone protection when you use your Sallie Mae card to pay your cellphone bill. Additionally, cardholders have access to a mobile app that lets you pay bills, view transactions and digitally dispute fraudulent charges.

In this post, we’ll break down the pros and cons of each card to help you determine if one is the right fit for you.

In this article:

Best for students — Sallie Mae Ignite℠

The Sallie Mae Ignite℠ is designed to help students establish or build credit. Cardholders earn

What else we like. The $0 annual-fee Sallie Mae Ignite℠ card comes with a , after that a  APR applies. That said, we recommend that you pay your balance in full each month. When that’s not possible, be sure to pay more than the minimum amount due.

What to look out for. The Sallie Mae Ignite℠ card does not offer a sign-up bonus. So if you’re a college student who’s hoping to earn an influx of cash upfront to use towards books, rent, tuition or other college expenses, the Sallie Mae Ignite℠ card doesn’t offer that.

There are, however, student credit cards that offer cash back on every purchase as well as a sign-up bonus. The , for example, lets cardholders . Additionally, cardholders earn .

Best to pay down student loans — Sallie Mae Accelerate℠

The Sallie Mae Accelerate℠ card gives you bonus cash back when you use your rewards to pay down your student loan. The card offers

What else we like. The Sallie Mae Accelerate℠ card offers a , after that a APR applies. This extended intro 0% APR period can help if you want to break down payments over time for a large purchase, such as a new laptop or car repair.

What to look out for. While the ability to earn additional cash back when using your rewards to pay down student loan debt is an added bonus, there are cards available that offer 1.5% cash back on every purchase, as well as a sign-up bonus.

For example, the $0-annual-fee Chase Freedom Unlimited® card lets you earn Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.

The Capital One Quicksilver Cash Rewards Credit Card also offers unlimited 1.5% cash back on every purchase, every day. Additionally, the card comes with a $0 annual fee and offers a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening.

Best for bonus cash back — Sallie Mae Evolve℠

The Sallie Mae Evolve℠ card lets cardholders earn

For example, let’s say you spent $600 on groceries and $400 on dining out in one month. If those are the two spending categories in which you spend the most that month, instead of earning $12.50 cash back on those purchases, you will earn a total of $15 cash back.

What else we like. The Sallie Mae Evolve℠ comes with a $0 annual fee. Additionally, you will receive a , after that a APR applies.

What to look out for. While the opportunity to earn bonus cash back in the top two categories you spend the most in each month is a solid offer, there are cards that offer higher cash back rates. The Bank of America® Cash Rewards credit card, for example, lets you earn bonus cash back in the category of your choice each month.

Bank of America® Cash Rewards credit card cardholders earn 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% cash back on all other purchases. Choice categories include gas, online shopping, dining, travel, drug stores or home improvement/furnishings, and can be changed one time each calendar month.

Additionally, cardholders earn a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

The bottom line

Whether you’re a student who’s trying to establish credit, a graduate paying down student loans or simply interested in earning bonus cash back, there’s a Sallie Mae card for you. But if you want the opportunity to earn a higher cash back rewards rate and a sign-up bonus, there are a variety of other cashback rewards cards to choose from.

Read: Best Cashback Credit Cards


Recommended Posts:

Read More

USAA Preferred Cash Rewards Visa Signature Card Review

If you’re a military member or an eligible family member looking for a simple cashback card, the USAA® Preferred Cash Rewards Visa Signature® Card has a flat-rate cashback program that’s easy to use. There’s also a broader range of benefits than you might find on some competing no-annual-fee cards. However, there are cards with higher cashback rates. We break down what […]

Read More

Read More

TJ Maxx Credit Card Review

If you’re a frequent shopper at T.J.Maxx, Marshalls, HomeGoods or Sierra Trading Post, you’ll be interested to know there are two $0 annual fee credit cards that can earn you great rewards on your purchases. The choices you have include: TJX Rewards® Platinum Mastercard TJX Rewards® Credit Card In this review, we’ll break down who should consider applying for a TJX […]

Read More

Should I Get a Green Dot Secured Credit Card?

  • Reports to the Three Major Credit Bureaus

  • No Penalty Rate or Application Fees*

  • 9.99% APR*

Highlights
  • Credit lines available from $200 to $5,000! Super Low Fixed 9.99% interest rate on purchases - with no penalty rate!
  • No minimum credit score requirements! We invite all credit types to apply! No processing or application fees!
  • Helps strengthen your credit with responsible card use. Reports to three national bureaus
  • Fast, easy application process. Choose your credit line and open your Personal Savings Deposit Account to secure your line.
  • See additional Green Dot primor® Visa® Gold Secured Credit Card details

See additional details for Green Dot primor® Visa® Gold Secured Credit Card

More Info

Who the card is best for If there’s a chance you may carry a balance month to month, the Green Dot primor® Visa® Gold Secured Credit Card has a low 9.99% (F) APR that can minimize your interest charges, compared with other secured cards. However, consider other secured cards before applying since there is a $49 annual fee. Where this card stands […]

Read More