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Up to 1.25%
Cash back
$0
Annual fee
0%
Intro purchase APR
for the first 6 months (then 12.99% to 22.99% variable)
0%
Intro balance transfer
for the first 6 months (then 12.99% to 22.99% variable)
Product Name | Sallie Mae Ignite℠ |
---|---|
Card type | Mastercard |
Annual fee | $0 |
Purchase APR | 0% intro for the first 6 months (then 12.99% to 22.99% variable) |
Balance transfer APR | 0% intro for the first 6 months (then 12.99% to 22.99% variable) |
Balance transfer fee | $5 or 3% of the transaction, whichever is greater |
Cash advance rate | 24.99% variable |
Cash advance fee | $10 or 5% of the cash advance amount, whichever is greater |
Foreign transaction fee | 3% of the transaction value |
Interest free period | Up to 23 days |
Late payment fee | Up to $39 |
Returned payment fee | Up to $39 |
Review by
Steven Dashiell is a credit cards writer at Finder. He's worked on 250 Finder articles and counting, helping readers embrace and maximize credit cards. Backed by nearly a decade of research and reporting experience, Steve's work can be seen on Debt.com, CreditCards.com and Lifehacker.
Of Sallie Mae’s three new credit cards, the Sallie Mae Ignite℠ best suits college students who have no credit history and want to start building credit.
Cardholders will get cash back on all purchases, and they will be rewarded with a bonus cashback rate after six consecutive on-time payments. The Sallie Mae Ignite℠ is a fairly generous credit card for new credit users as it also has a $0 annual fee and a 6 months introductory APR period.
Applying for the Sallie Mae Ignite℠ is quite simple:
The Sallie Mae Ignite℠ is a solid option for college students — or anyone without a credit history — who want to start building credit. The “carrot and stick” design of the cash back rewards means that this card could prove helpful even if you’re not a college student but you have a history of no credit.
If you’re looking for the best cashback credit cards on the market, compare your options to find one that suits your needs. And if you’re looking for other cards that can help you build credit, check out your secured credit card options.