Sallie Mae MasterCard
Sallie Mae MasterCard
Sallie Mae MasterCard
Card details
Earn 1% on purchases
Earn 5% cash back on gas and groceries up to $250 spent in each category per month, as well as 5% on bookstores up to $750 a month.
You can redeem your points as cash to pay off your Sallie Mae student loan, cash back into your Upromise account, or a statement credit.
Rates, fees & offers
Annual fee
$0
Rewards rate
1.00%
Bonus offer
$25 Cash Back Bonus - after first purchase, made within 90 days of account opening
Intro APR
Purchase: None
Transfer: 0% for 15 mos
Ongoing APR
Min APR: 14.74%, Variable
Max APR: 23.74%, Variable
Penalty APR: Up to 27.99%, Variable
Cash Advance APR: 25.99%, Variable
Balance transfer fee
3%
Foreign transaction fee
3%
Recommended credit score
Compare to other cards
 Sallie Mae MasterCard | ||
|---|---|---|
| Learn more | Learn more | |
Annual fee$0 | Annual fee$99 | Annual fee$199 |
Regular APR14.74% - 23.74% Variable | Regular APRSee Terms | |
Intro APRPurchase: None | Intro APR0% intro APR for 15 months on balance transfers made within 45 days of account opening. After that, a variable APR will apply, 21.24%-29.99%. | Intro APRN/A |
Recommended Credit Score |
Recommended Credit Score |
Recommended Credit Score |
NerdWallet review
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Rating details
4.5
Editor's overall rating
Pros and cons
Pros
No annual fee
0% for 15 mos on transfers
Cons
Needs excellent credit
With generous cash-back rewards for everyday purchases, the Sallie Mae MasterCard offers high ongoing value with a simple earning structure – and you don't need to have student loans to qualify for it. You’ll get 5% cash back for gas stations and grocery stores up to $250 a month in each category and 5% cash back for bookstores up to $750 a month, which adds up to $750 in bonus category earnings each year if you hit those caps. On top of that, you’ll snag 1% cash back for all other purchases and earn a small $25 Cash Back Bonus - after first purchase, made within 90 days of account opening.
The card also offers flexible redemption options. You'll net one cent per point, which you'll be able to redeem as a statement credit, a credit in your Upromise account (a type of free education savings program on Sallie Mae’s website) or a credit on your Sallie Mae loan.
True, the Sallie Mae MasterCard may not be the best pick if you're hunting for a juicy sign-up bonus or airline miles. But if you're looking for an excellent cash-back card that helps you earn even when your spending isn't exactly off-the-charts, it may be a perfect fit.
