Sallie Mae Accelerate Credit Card Review

Sallie Mae Accelerate Credit Card

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Sallie Mae Accelerate Credit Card

Sallie Mae Accelerate Credit Card is a bank that believes in the power of learning, no matter where it happens. You are on your own path, moving in the direction of the future. They are here to support every learning experience-both in the classroom and outside. Through products such as private student loans, credit cards, and savings accounts, plus their financial tools, resources, and information, they enable people to do great things. You inspire them. Your passions and dreams, the life you are creating-they can help you achieve it. They believe that all forms of education can help people achieve great achievements. This is a good equalizer and a proven path to a healthy financial future. Education is a long-term investment that has the potential to transform your life. Everything they do is motivated by this belief.

Pros & Cons Analysis of Sallie Mae Accelerate Credit Card

Sallie Mae Accelerate Credit Card Highlights

Rewards: You will receive a $200 bonus reward if you spend $1,000 (net) on eligible purchases within the first three months of opening your account. The following are not eligible for purchases, do not earn cash back, and are not counted as part of the net expenditure requirements of bonus awards: cash advances (including cash-like transactions), balance transfers, convenient check amounts, and their purchases are believed to be made or out of For commercial, commercial or investment purposes, account fees, interest fees, and unauthorized or fraudulent transactions. Within one or two billing periods after you spend the required amount, the bonus reward will be added to your reward balance. Your account must be opened and kept up-to-date at the time of fulfillment in order to receive rewards. For complete details, please refer to the Cardholder Agreement and Rewards Terms and Conditions. The basic cash back rate is 1.5%. Accelerate cardholders will receive 33 1/3% of the rewards to help repay student loans (reward rewards), providing you with a total cashback value of 2% of the redemption amount. For example, if you redeem a reward of $100 to pay for a student loan, you will receive an additional bonus of $33.33 as part of the student loan payment, resulting in a total payment of $133.33 for your student loan. Bonus awards only apply to the amount of awards redeemed to help repay student loans. The reward redemption amount may not meet the loan payment of your lender, and you are responsible for meeting the specific payment conditions of the loan.

Advantages: The Select Sallie Mae credit card will provide consumers with a way to get cash back rewards through purchases. In addition, the credit cards they provide will provide a unique way to earn cash back rewards based on personal credit card products. Visit salliemae.com/credit-cards for more information. For students, the Sallie Mae credit card can provide an opportunity to help build your credit history, and at the same time get cash back rewards at the time of purchase. Credit history helps inform your credit score. This credit score helps predict the likelihood of you repaying the credit you borrowed. Companies use credit scores to decide to offer credit cards, auto loans, mortgages, or other credit products. Cashback also refers to getting a certain percentage of cash back from the amount you spend on your credit card. After you earn these cash rewards, you can use them as a statement credit line or directly redeem the cash rewards to a designated deposit account. For example, suppose you spent $50 to buy coffee for your study group, and your card gave you 1% cash back on this purchase. When you receive your credit card statement at the end of the month, this particular purchase will give you $0.50 in cash back for redemption.

FQA of Sallie Mae Accelerate Credit Card