[Targeted] Sallie Mae Credit Cards With 2.5-2.8% Cash Back For First 12 Months (Max $20,000)

The Offer

Accelerate | Evolve | Ignite

  • Sallie Mae is offering double cash back for the first 12 months on their Accelerate, Evolve, and Ignite credit cards.

Sallie launched three credit cards last year, and they’ve now added a signup bonus.

  • The Accelerate and Evolve regularly earn 1.25% cashback on all purchases – after doubling that ends up 2.5%.
  • The Ignite is a student card and regularly earns 1% cashback on all purchases – after doubling that ends up 2%.

The Fine Print

  • Base cash back is earned at a rate of 1.25%. After the first 12 consecutive billing periods that your new account is open, we will match the net cash back rewards you’ve earned, excluding bonus rewards and other offers that may be available, up to $20,000 in net annual spend and apply them to your Rewards balance in the following one or two billing periods. Your account must be open and up-to-date at the time we calculate your potential award, or your net cash back will not be matched.

Card Details

  • Salle Mae Accelerate This card earns 1.25% everywhere with no limit. It also gives a 25% bonus on any cash back rewards used to pay down all student loans
  • Sallie Mae Evolve This card earns 1.25% everywhere with no limit. It also gives a 25% bonus on cash back rewards earned from your top two purchase categories each month.
  • Salllie Mae Ignite  This card is meant for students. It earns 1% back on all purchases, and gets a bonus 25%  after making six consecutive on-time payments.

Our Verdict

It’s actually possible to get 2.81% cashback since the 1.25% base cashback can potentially get a 25% bonus (see details above) which brings it up to 1.56%. Add the 1.25% first-year bonus and the total is 2.81%. Overall, nothing that exciting here due to the $20,000 limit, but some might find it interesting.

After writing this post I realized that Sallie Mae appears to have pulled these cards from being public, and they now need an offer code to apply. So currently this will only work for those who got the invitation email.

Hat tip to reader Patrick

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5 Comments
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SamL
SamL (@guest_974264)
May 7, 2020 05:16

Comparing this to BoA TR (2.8125% vs 2.625%) this is effectively a $37.50 signup bonus for $20,000 spend. These kinds of deals are absolutely terrible.

Glenn
Glenn (@guest_973826)
May 6, 2020 17:19

I remember the Barclaycard Sallie Mae being one of my favorite cards. 5% back at bookstores including Amazon and you didn’t have to buy books. I think it had 5% back on gas also

R.
R. (@guest_974449)
May 7, 2020 12:54

$750 Amazon/B&N, $250 gas, $250 groceries per month.
Those were the days…

CC
CC (@guest_973804)
May 6, 2020 16:45

Don’t apply if you have obtained alot of recent credit or just a waste of a HP. Just a FYI

G56G
G56G (@guest_973895)
May 6, 2020 18:43
  CC

How sensitive are they?