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Sallie Mae Accelerate Card

BestCards Team

| Last updated on November 9th, 2023

Sallie Mae Accelerate Card

Sallie Mae Accelerate Card
Poor-No Credit Required
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Poor / No Credit Required
Mastercard Processing Network
None Annual Fee

Sallie Mae Accelerate Card

  • 17.99% to 29.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
  • 17.99% to 29.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
  • 29.99% variable based on the Prime Rate Cash Advance APR
  • 0% for 15 months from account opening date Intro Purchase APR

At a Glance

The Sallie Mae Accelerate? Credit Card, designed for recent college graduates, stands out from other cash back cards because it’s the only credit card currently on the market that will reward you with a bonus when you use it to pay down a student loan. Earn 1.25% cash back on all purchases while you build your credit, along with no annual fee and a generous introductory APR offer.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • No annual fee
  • Earn unlimited 1.25% cash back on every purchase, every day
  • Earn a 25% bonus on any cash back rewards used to pay down student loans
  • 0% introductory APR on purchases for 15 months from account opening
  • Intro Purchase APR: 0% for 15 months from account opening date
  • Regular Purchase APR: 17.99% to 29.99% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for 15 months from account opening date
  • Balance Transfer APR: 17.99% to 29.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 29.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
  • Late Payment Penalty Fee: Up to $39
  • Return Payment Penalty Fee: Up to $39
  • You want to earn unlimited 1% cash back on all purchases and a cash back bonus for responsible financial behavior
  • You don’t want to pay an annual fee
  • You will take advantage of an introductory APR of 0% for 15 months after account opening
  • You are a student, or someone looking to build their credit history

Sallie Mae Accelerate Card Review

Most students have not established credit history before they graduate, which can make it difficult to find rewards cards that provide them with robust cash back programs. Luckily, Sallie Mae has rolled out several new credit card offers with college students and recent graduates in mind. The Sallie Mae Accelerate Credit Card is designed to help recent graduates (and everyone else) to pay down student debt while building your credit and earning great cash back rewards.

Unlimited Cash Back

Earn unlimited 1.25% cash back on all purchases – whether it’s an everyday item like your morning coffee, a lunch date, or a snack from the campus store, when you use your Sallie Mae Accelerate℠ Card to purchase it, you’ll earn rewards. In lieu of a signup bonus, this card comes with a generous introductory APR on purchases of 0% for the first 12 months after you open your account, and there’s no annual fee so recent grads can save big, when compared to other comparable cards. 

College loans can be intimidating, and with this in mind, the Sallie Mae Accelerate Card will award you with a 25% cash bonus on any cash back rewards that are used to pay down student debt. This is an offer that, as of this writing, is unique to Sallie Mae’s credit card offers – you won’t find it anywhere else. Sallie Mae rewards their customers who pay their monthly statements on-time, consistently; the more you use your card, you’ll unlock additional rewards with responsible financial behavior.

Cell Phone Protection

Another great feature for students and recent grads: When you pay your monthly cell phone bill with the Sallie Mae Accelerate Credit Card, you’ll receive up to $600 per claim in cell phone protection, so if you drop your phone on the way to class or it gets stolen, you’ll be covered.

Should You Apply for the Sallie Mae Accelerate Card?

Sallie Mae’s credit cards come with a suite of convenient (and free) tools for cardholders. Download their app to access your account from your smartphone or tablet device – you can pay bills, view transactions, and set up alerts quickly and easily. You can even pause your card quickly from the app, in the instance that your card has been lost, misplaced, or stolen. 

The app makes it easy to dispute fraudulent charges, too – and don’t worry, with the Sallie Mae Accelerate Card, you won’t be held responsible for purchases you didn’t make. You’ll be able to track your rewards by setting daily, weekly, and monthly spending alerts; use these to get insight into your spending habits, which can help you work towards a great credit score. You’ll have access to your FICO score, and much more. This card will help you accelerate to reach your financial goals.

Related Article: What Are the Easiest Credit Cards for Bad Credit to Get?

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