
Sallie Mae Accelerate Credit Card
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Purchase APR (Variable APR) | 12.99% - 24.99% |
Balance Transfer APR (Variable APR) | 12.99% - 24.99% |
Credit Score Range | 650 - 850 |
Annual Fee | $0 |
Sallie Mae Accelerate Credit Card Review
This is a cashback credit card issued by Sallie Mae. If you're wondering whether Sallie Mae Accelerate Credit Card is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.
- Generous reward rate. You will get a maximum cashback rewards rate of up to 2.5%.
- 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 15 months, which is longer than the average 0% APR period of 12 months.
- 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 15 months.
- Competitive APRs. Sallie Mae Accelerate Credit Card has a variable purchase APR that ranges from 12.99% up to 24.99%.
- No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your eligible purchases, but you don't have to pay an annual fee for the privilege.
- 3% Balance transfer fee. Sallie Mae Accelerate Credit Card charges a fee of 3% on balance transfers. For example, a balance of $1,000 could cost $30 in transfer fees. The minimum fee is $5.
- Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
- Fair or better credit required. You will have good approval odds if your credit score is above 650.
The Good | The Bad |
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Does Sallie Mae Accelerate Credit Card have a cash back or rewards program?
This is a cashback card. This means you earn a percentage of your purchases as cash back rewards. You will receive 1.25% cash back on travel, dining, groceries, drugstore purchases, or any other purchase. For example, if you buy a $1,000 laptop, you will receive $12.5 back in cash. However, you can earn up to 2.5% for purchases in a bonus category.
Minimum rewards rate | 1.25x |
Max rewards rate | 2.5x |
Annual rewards limit | N/A |
Does Sallie Mae Accelerate Credit Card have a signup bonus?
This card doesn't offer a cash signup bonus.Does Sallie Mae Accelerate Credit Card offer an annual loyalty bonus?
This card doesn't offer a cash loyalty bonus.What are the Sallie Mae Accelerate Credit Card benefits?
It provides the following benefits:
- Zero fraud liability
- Cell Phone Protection
- Reports to major credit bureaus
What are the relevant APRs for Sallie Mae Accelerate Credit Card?
According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.Sallie Mae Accelerate Credit Card has a variable purchase APR that ranges from 12.99% up to 24.99%. The card has a variable balance transfer APR that ranges from 12.99% up to 24.99%. It also has a variable cash advance APR of 24.99% .
Does Sallie Mae Accelerate Credit Card have an intro APR offer on balance transfers?
Yes, it offers an intro APR rate on balance transfers of 0% for a period of up to 15 months.
Description | |
---|---|
Balance Transfer Introductory APR | 0% |
Balance Transfer Intro APR Period | 15 months |
Balance Transfer APR | 12.99% - 24.99% |
Balance Transfer Fee Minimum | $5 |
Balance Transfer Fee % | 3% |
Does Sallie Mae Accelerate Credit Card have an intro APR offer on new purchases?
Description | |
---|---|
Introductory Rate | 0% |
Purchase Intro APR Period | 15 months |
This card does offer an intro APR rate of 0% on qualified purchases for a period of up to 15 months.
What are the fees for Sallie Mae Accelerate Credit Card?
The following fees apply:
- There is no overlimit fee
Fees | Amount |
---|---|
Annual Fee | $0 |
Overlimit Fee | $0 |
Foreign Transaction Fee | 3% |
Returned Payment Fee | up to $39 |
Late Payment Fee | up to $39 |
This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.
Does Sallie Mae Accelerate Credit Card have a foreign transaction fee?
Sallie Mae Accelerate Credit Card charges a foreign transaction fee of 3%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $60. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge foreign transaction fees.What is the support contact email for Sallie Mae Accelerate Credit Card?
The support contact email for Sallie Mae Accelerate Credit Card is schoolassist@salliemae.com.
How do people rate the customer service and user experience of Sallie Mae Accelerate Credit Card?
We currently don't have sufficient reviews to provide a reliable SuperMoney community rating for this product.
Does Sallie Mae Accelerate Credit Card report your account activity to credit bureaus?
Yes, Sallie Mae Accelerate Credit Card reports your account activity to the following credit reporting agencies:
- Equifax
- Experian
- Transunion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
How to apply for Sallie Mae Accelerate Credit Card
- Visit the Sallie Mae Accelerate Credit Card website.
- Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
- Check the information is accurate and submit your application.
If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.
Contact
- Headquarters
-
300 Continental Drive
Newark, DE 19806 - Visit Site
- Email Support
Other Services by Sallie Mae
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Washington, DC
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
Introductory Rate | 0% |
Purchase Intro APR Period (Variable APR) | 15 months |
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