Last updated on February 23rd, 2023
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Sallie Mae Ignite Card
Sallie Mae Ignite 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 6 months from account opening date Intro Purchase APR
At a Glance
Students often have a difficult time finding a cash back cards that are a good fit for them, since it takes time to build credit history and many high-tiered rewards programs require excellent credit. However, Sallie Mae’s Ignite? Credit Card is a great cash-back option that will help students establish their credit while earning bonus rewards for responsible financial behaviors.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Earn unlimited 1% cash back on every purchase, every day
- Get a 25% bonus on your cash back rewards when you make 6 consecutive on-time payments
- 0% introductory APR on purchases for 6 months from account opening
- Intro Purchase APR: 0% for 6 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 6 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 six months after account opening
- You're a student, or someone looking to build their credit history
Sallie Mae Ignite Card Review
Perfect for students who want to begin to build credit history, the Sallie Mae Ignite℠ Credit Card is a great cash-back reward program credit card, offering competitive interest rates, sign up bonuses and special bonuses that reward the user for responsible financial behavior. This card is marketed towards students specifically; however, it can can also be utilized by anyone who has not established their credit and wants to earn rewards as they build their credit history.
Unlimited Cash Back
The Sallie Mae Ignite℠ Credit Card offers unlimited 1% cash back on everyday purchases. Students will find this particularly enticing, since It means they can earn rewards on pretty much anything they use their card to purchase; basically, students who pay their bills using this card will earn significant rewards. Grabbing a coffee at Starbucks to fuel that all-nighter before your biology exam? You’ll earn 1% cash back even as you grow your knowledge (and your credit history!).
Intro APR Offer
Once you are approved for your Sallie Mae Ignite℠ Credit Card, you’ll receive an introductory bonus APR of 0% for the first six months your account is open. You won’t pay an annual fee, which will also save you money – and once the introductory APR period has ended, you’ll be subject to competitive, low interest rates that will be determined based on your card usage and responsible financial behavior. Speaking of responsible financial behavior, students who make regular on-time payments will also earn a special bonus on your cash back rewards. To qualify for an extra 25% bonus, make six consecutive on-time payments; you’ll be able to unlock additional rewards with responsible financial behavior, at the discretion of the card issuer.
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 Ignite℠ Credit 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.
Cell Phone Protection
Another great feature for students: When you pay your monthly cell phone bill with the Sallie Mae Ignite℠ 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 Ignite Card?
The Sallie Mae Ignite Card is an excellent option for recent college graduates that’s ant to earn rewards, but struggle to find other lenders willing to take them on. The card provides reliable rewards, a tantalizing introductory offer, and better access to credit with responsible usage – what’s not to love?
Related Article: What Are the Easiest Credit Cards for Bad Credit to Get?