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Sallie Mae Rewards Card Programs

The Sallie Mae rewards card is a Mastercard offered by Sallie Mae and Barclays Bank Delaware. Applicants do not have to have outstanding Sallie Mae student loans to apply for the credit card. Rewards can be redeemed for cash back using Upromise, but customers must have a Upromise account for cash redemption. Both applications for the Sallie Mae rewards card [+] and Upromise account [+] are available online.

Earning Sallie Mae Card Rewards & Benefits

Card holders earn rewards with the Sallie Mae rewards card by using the card for everyday purchases. Accounts are credited with 5% cash back for gasoline, grocery and book purchases. The first $250 in purchases for gasoline and groceries each year are eligible for the 5% cash back bonus. Book purchase credits are eligible for the first $750 in purchases each year [+]. After meeting the maximum allowed for each purchase, card holders earn just 1% of each purchase in reward points. Each reward point is equivalent to one cent – 2,500 points equals $25.

Redeeming Your Benefits

Customers can choose to redeem Sallie Mae rewards points for cash back via Upromise or they can credit the cash back bonus to their Sallie Mae loan. The credit will reduce the total amount of the money owed on the account, but it will not count as a monthly payment. After receiving the card, customers can register for account access to make payments and check rewards point totals at the BarclayCardUS website [+].

Fee Schedule for the Sallie Mae Rewards Card Program

Some fees for the Sallie Mae rewards card are static, but others change based on the applicants credit worthiness [+].

  • APR: 0% for the first 12 months. 13.99%, 20.99% or 22.99% thereafter based on the credit worthiness of the applicant.
  • Cash Advance APR: 25.24%
  • Penalty APR: 27.24%
  • Annual Fee: $0
  • Balance Transfer Transaction Fee: The greater of $10 or 4% of the balance transfer.
  • Cash Advance Transaction Fee: The greater of $10 or 5% of the cash advance.
  • International Transaction Fee: 3% of the purchase (US dollars).
  • Late Payment Fee: Maximum of $35.
  • Over the Credit Fee: $0
  • Returned Payment Fee: Maximum of $35.

Canceling Your Sallie Mae Rewards Card

You will need to contact BarclayCardUS to cancel your Sallie Mae rewards card. The customer service department is available at 1-866-585-2951.

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