The Sallie Mae MasterCard offers a $25 bonus after your first purchase, plus you can earn 5% cash back on gas, groceries, and eligible book purchases with no annual fee.
Updated 6/5/2017 – Card Expired: Please note that the Sallie Mae MasterCard is no longer available for new applicants at this time. Check out the new Commence MasterCard from Sallie Mae for their latest credit card product.
Since the cash rebates earned from this Sallie Mae credit card can be redeemed toward the Upromise rewards program, this is a good alternative to the Upromise Credit Card for earning additional college savings.
You’ll earn 2,500 bonus points after you use your card for the first time within 90 days of account opening, which can be redeemed for a $25 cash back statement credit.
You’ll also earn 5% cash back on the first $250 you spend per month on gas and grocery purchases as well as the first $750 you spend per month on book purchases.
In addition, you’ll get 1% cash back on all of your other purchases with the Sallie Mae credit card.
This Sallie Mae MasterCard has no annual fee.
The Sallie Mae card is issued by Barclaycard.
The 5% gasoline category rewards are earned on the first $250 in net purchases made per monthly billing cycle at eligible gas stations and service stations.
The 5% groceries category rewards are earned on the first $250 in net purchases made per monthly billing cycle at eligible grocery stores and super markets.
The 5% books category rewards are earned on the first $750 in net purchases made per monthly billing cycle at eligible book stores.
After you meet the 5% cash back spending limits each month, your additional purchases in those categories will earn 1% cash back.
After earning 2,500 rewards points, you may redeem your rewards for cash back in the form of a statement credit in the amount of $25, get a rewards credit applied to help you pay down your eligible Sallie Mae student loan, or redeem as cash back in a Upromise account (if you are a Upromise member).
Rewards used to pay down student loans reduce the total amount owed on the loan, but are not applied to payments due.
Your participation in the rewards program may end if your credit card account is inactive for 13 months or more.
To earn the $25 First-Use Bonus, you must use your new Sallie Mae Credit Card account to make a purchase, cash advance transaction, convenience checks, or transfer a balance within 90 days of your Sallie Mae Credit Card account being opened.
Take advantage of this Sallie Mae cash back credit card bonus to earn $25 in free cash rewards.
You may also be interested in the Sallie Mae Online Savings Account to earn additional rewards toward your Upromise account.
Review these other Credit Card Bonus Rewards for more cash bonus card offers.
Sign up for a Sallie Mae Cash Back MasterCard Credit Card with no annual fee today.