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Sallie Mae Bank Credit cards for february 2024

Apply for a Sallie Mae Bank Credit card. On 27.02.2024 you have access to 3 credit cards. Increase your chances of getting money — fill out a multi-application with a free credit rating check.
Offers: 3
Updated:
22.12.2022
13:25
Sallie Mae
Sallie Mae Ignite SM®
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Sallie Mae
Sallie Mae Evolve SM®
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Sallie Mae
Sallie Mae Accelerate SM®
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Types of credit cards 

With Sallie Mae, you can get one of the following three types of credit cards: Ignite, Accelerate, and Evolve. Each credit card comes with no annual fee and no limits on earning cash back. 

Sallie Mae Ignite for Students

This credit card earns you a $50 cash back once you spend $250 in the first three months. If you make six consecutive on-time payments, you will get a 25% bonus on your cash back rewards rate of 1%. 

Sallie Mae Accelerate

You will be able to get $200 cash back after spending $1,000 in the first three months. There is an option to redeem 2% cash back for paying the student loan or 1.5% for anything else. 

Sallie Mae Evolve

The credit card helps you to get $200 cash back after you spend $1,000 in the first three months. Additionally, you earn 2% cash back on the two highest-spending eligible categories on anything else. 

Pros and cons

Pros

  • You can earn cash back on purchases.

  • There are additional rewards you can get in spending categories.

You can use Digital Wallets with credit cards to checkout. 

Cons

  • There is a late payment fee and a return fee of $39.

  • The interest rates are relatively high. They range from 15.24% to 27.24%.

Main requirements

To be able to get a Sallie Mae credit card, you need to:

  • Be of a majority age;

  • Have a stable source of income to cover your debts;

  • There is no credit score requirement, but to get a better interest rate you need to have a higher credit score, above 650. 

How to apply for a card

On the page of the credit cards, review the Cardholder Agreements. If you have a personal offer, click the "I have a personal offer code" link and input your code and your last name. Click Get Started. 

How to pay off a debt

The annual percentage rate (APR) on your purchases and balance transfers will be 0% for the first six months after you open an account. After that, the interest rate will range from 15.24% to 27.24%, depending on your creditworthiness. 

For cash advances, your APR will be 27.24%. 

You can avoid paying interest on purchases by paying off your entire balance by the due date each month. 

There is a late payment fee issued in the amount of up to $39.

FAQ

What credit score does Sallie Mae require?

Sallie Mae's average approved credit score is 749.

Does the Sallie Mae credit card have an annual fee?

Sallie Mae does not issue annual fees on its credit cards.

Can I pay Sallie Mae for private student loans with a credit card?

The company doesn't allow you to pay down student loans with a credit card unless it is a Sallie Mae Accelerate card.