Card Details

Regular APR:	14.74 – 24.74 (Variable)
Intro APR (Purchases):	0% for 12 months
Intro APR (Balance transfers):	None
Rewards Rate:	1.25% cash back on every purchase, every day, with no limit Earn a 25% bonus on any cash back rewards used to pay down your student loans
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 only cash back credit card that gives you a bonus when you use your rewards to pay down a student loan
1.25% cash back: earn on every purchase, every day, with no limit
25% More cash back. Earn a 25% bonus on any cash back rewards used to pay down your student loans.
Instant rewards. Unlock additional rewards with responsible financial behavior
Become a Sallie Mae Accelerate 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
$0 annual fee
0% Introductory APR for purchases for 12 months

Is Sallie Mae Accelerate worth it?

Sallie Mae Accelerate is a solid card for people paying down student loans. The card offers 1.25% unlimited cash back on all purchases and that rewards rate goes up to 1.56% cash back when you use Sallie Mae Accelerate to pay off your student loans.

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 1.25% cash back as a base rate, so it?s not a bad card. Other cards like Citi Double Cash offer 1% cash back on all purchases and an additional 1% cash back for making on-time payments, bringing total cash back to 2%, but if you?ve been denied for other cards, it?s in no way definite but you might have an easier time getting approved for Sallie Mae Accelerate, because it?s designed for people with student loans, so it may forgive some credit blemishes or a missed payment.

Pros

1.25% cash back: earn on every purchase, every day, with no limit
Earn a 25% bonus on any cash back rewards used to pay down your student loans
No annual fee
0% Introductory APR for purchases for 12 months

Cons

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

Cell Phone Protection

Get Started with Sallie Mae Accelerate

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.

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