
Rating: 4 Stars
Bottom Line:
Cash Back for Students
Card Details
Regular APR: | 14.74 – 24.74 (Variable) |
Intro APR (Purchases): | 0% for 12 months |
Intro APR (Balance transfers): | None |
Rewards Rate: | Unimited 1% cash back on every purchase 25% bonus on cash back after making six consecutive on-time payments |
Credit Needed: | (670 – 850) Good/Excellent |
Annual Fee: | None |
Card Brand: | Mastercard |
*See online credit card application for details on the terms and conditions.
Offer Highlights
- Click APPLY NOW to apply online
- The cash back credit card that helps students establish credit and earn bonus rewards for responsible financial behaviors
- 1% Cash back: Earn on every purchase, every day, with no limit
- 25% More cash back: Earn a 25% bonus on your cash back rewards after making six consecutive on-time payments
- Become a Sallie Mae Ignite cardholder and you?ll have the chance to win $10,000 to help pay down your student loans. We’re choosing one winner every month for 12 months for a total giveaway of $120,000
Is Sallie Mae Ignite worth it?
Sallie Mae Ignite is a solid card for students looking to build credit. Cardholders earn 1% cash back on every purchase, every day, with no limit, and get 1.25% cash back after making six consecutive on-time payments.
It?s rare to see a giveaway as part of a credit card offer. In this case there is an opportunity to win $10,000 to help pay down your student loans. People who have Sallie Mae Accelerate or Sallie Mae Ignite are eligible and receive more entries, up to ten per day, by swiping their card.
The card offers secondary Cell Phone Protection through Mastercard, and the $600 benefit amount applies to each claim and is subject to a $50 co-pay per claim. You get up to $1000 in total benefit per year. This benefit is typically reserved for Mastercard World cards only.
The card also has no annual fee and as mentioned offers unlimited 1% cash back as a base rate, so Sallie Mae Ignite is a reasonably good offer for students. One note: if you are an international student, consider Deserve Edu Mastercard for Students, which does not require a SSN to apply.
Pros
- 1% Cash back: Earn on every purchase, every day, with no limit
- Build your credit
- Monthly reporting to 3 major credit bureaus
Cons
- 0% Intro period on purchases is only 6 months
- 25% cash back bonus requires six consecutive on-time payments. Journey Student Credit Card from Capital One has a bonus that be achieved more quickly: you get a 25% bonus for paying on time in that month
- Foreign transaction fee
Why 4 Stars?
Regular APR
4 Stars
Intro APR
4 Stars
Fees
4 Stars
Perks
5 Stars
Overall
4 Stars
Fees
Foreign Transaction Fee | 3% |
Balance Transfer Fee | Either $5 or 3% of the amount of each transfer, whichever is greater |
Cash Advance Fee | Either $10 or 5% of the amount of each cash advance, whichever is greater |
Penalty APR | None |
Benefits
$0 Fraud Liability |
Auto Rental Collision Damage Waiver |
Extended Warranty Program |
Lost Luggage Reimbursement |
Purchase Protection |
Roadside Assistance |
Travel Accident Insurance |
Travel Assistance |
Editorial Note: This content is not provided by the issuer. Any opinion, analyses, reviews, or recommendations expressed on this page are those of the author?s alone, and may not have been reviewed, approved or otherwise endorsed by the issuer.
Credit Cards Research:
Best Credit Cards for 2021
These are the best credit cards for 2021.
Best Credit Cards for Excellent Credit
If you have excellent credit, check out these cards. These are the best cards for excellent credit with travel rewards and cash bonuses.
Best Credit Cards to Pay off Debt
The fastest way to pay off credit card debt is by transferring a balance to a 0% APR credit card. These are the best balance transfer cards on the market.