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finder.com’s rating: 3.4 / 5
★★★★★
Up to 2%
Cash back
$0
Annual fee
0%
Intro purchase APR
for the first 15 months (then 13.24% to 25.24% variable)
0%
Intro balance transfer
for the first 15 months (then 13.24% to 25.24% variable)
Annual fee | $0 |
---|---|
Welcome offer | cash back reward after spending in the first 12 months |
Rewards | 2 cash back to help pay down any student loan, or 1.5% for everything else |
Purchase APR | 0% intro for the first 15 months (then 13.24% to 25.24% variable) |
Balance transfer APR | 0% intro for the first 15 months (then 13.24% to 25.24% variable) |
Minimum Credit Score | 670 |
Issuer | Mastercard |
Review by
Steven Dashiell is Senior Writer, Personal Finance at Finder specializing in all things credit cards. With more than 300 articles under his belt, he aims to help readers embrace credit cards and maximize their rewards. Steve is studying to become a Certified Educator in Personal Finance, and is a frequent face on Finder’s YouTube channel, offering the latest in credit card hacks and advice. His expertise has been featured on numerous outlets, including U.S. News & World Report, NASDAQ, Time, CBS, Fox Business, Lifehacker, Martha Stewart Living and more.
The Sallie Mae Accelerateâ„ is best for college students or recent graduates still paying off their student loans. The card offers a unique draw: It gives students the opportunity to earn 25% more cash back when rewards are applied to those loans.
Unfortunately, this bonus isn’t quite enough to make it a better raw value pick than some other flat cashback credit cards. For example, the Citi® Double Cash Card is a no-annual-fee card that pulls in 1% cash back on initial purchases and another 1% cash back when you make your payment on time.
While you can earn cash back on purchases made with Sallie Mae Accelerate℠, the rate and additional student loan reward bonus still aren’t enough to pull ahead of competitor cash back cards.
Applying for the Sallie Mae Accelerateâ„ is quite simple:
While it’s not the strongest flat cashback card available, the Sallie Mae Accelerate℠could be a good choice — and easier to qualify for — if you’re a college student or recent graduate with student loans. If this card doesn’t seem right for you, compare your cashback credit card options to find something that best suits your financial needs.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.