Sallie Mae MasterCard

Sallie Mae MasterCard

on Barclays's secure website

Sallie Mae MasterCard

Sallie Mae MasterCard

Sallie Mae MasterCard

on Barclays's secure website

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

  • View Rates and Fees

Rates, fees & offers

  • Annual fee

    $0

  • Rewards rate

    1.00%

  • Bonus offer

    $25 Cash 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

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NerdWallet Review

By Claire Tsosie

Rating Details

4.5

Editor's overall rating

Pros and Cons

Pros
  • Bonus cash back categories

  • 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 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.

User Reviews

Rating Details

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