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 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 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.

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.

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?

It 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% .

What are the fees for Sallie Mae Accelerate Credit Card?

The following fees apply:

• There is no overlimit fee

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 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.