Is the Sallie Mae Rewards Credit Card Worth a Wallet Spot?


Sallie Mae Credit Card Review

sallie mae rewards credit card

If you are looking for a credit card that offers you rewards, the Sallie Mae Rewards credit card may be just what you are looking for. This Mastercard is offered by Sallie Mae and Barclays Bank of Delaware. There is no need to have a Sallie Mae student loan to obtain the card.

Applicants will earn rewards with the card that can be redeemed for cash using Upromise.

Cardmembers, however, do have to have a Upromise account to receive the cash back from the card. This can be obtained online from the Upromise website.

Rewards are earned with the Sallie Mae card on everyday purchases. Cardmembers will receive 5 percent back for gasoline, grocery, and book purchases. In addition, the first $250 spent on gasoline and groceries can earn account holders an extra 5 percent cash back bonus. Book purchase credits are earned on the first $750 in purchases each year.

Following the initial purchase period, cardholders will earn 1 percent of each purchase in reward points. Points are earned at one cent per point. Reward points can also be redeemed for credit on Sallie Mae loans. Cash back does not count as the monthly payment, however.

APR on the Sallie Mae Rewards card is zero percent for the first 12 months and 13.99, 20.99 or 22.99 percent based on credit history and worthiness. There is also no annual fee on the card with a $35 late fee. There is no over the credit limit fee on the card.

Sallie Mae Mastercard vs Mercury Mastercard

The Mercury card is good for those looking to rebuild their credit rating. Unless you have poor to fair credit pick the Sallie Mae credit card.

Sallie Mae Mastercard vs Petal Card

Consumers who are just building credit should pick the Petal Card. Consumers who have established credit should apply for the Sallie Mae card.

The Sallie Mae Rewards credit card is the ideal card for someone looking to earn points on every dollar they spend. With no annual fee and zero percent APR for the first 12 months, can provide cardholders spending power without racking up interest charges, making this card the perfect choice for most consumers.