This is a sponsored post written by me on behalf of Sallie Mae Cash Back Credit Cards. All opinions are 100% mine.
Do you want a way of earning cash back rewards on things that you are buying?
We have found a way for you to do that! Have you heard of cash back cards before?
We are excited to share Sallie Mae Cash Back Credit Cards for you to earn cash back on your purchases!
Sallie Mae Evolve℠ Basics
When you are considering signing up for a new credit card, it’s important to look at all of the information to make sure that you are making the best decision.
The Sallie Mae Evolve Credit Card is the 3rd card that Sallie Mae has recently launched, but with the main focus on earning you cash back.
It works by giving you cash back when you make purchases on it. There is a standard cash back rate on all purchases (1.25%). You can also get a bonus on the cash back rewards in your top 2 categories each month.
Sallie Mae Evolve Perks
There are a few great things about this card, which we will take a good look at.
If you want to earn cash back rewards on the things that you would be buying anyway, a cash back card is a great option for you.
You will earn 1.25% on everything that you buy and you can also a bonus on top earning categories. There is no limit on the 1.25%, which is a fantastic perk.
What to Look Out For
The most important thing that you need to consider when it comes to credit cards, is what happens if you end up spending more than you should.
When it comes to credit cards, interest rates are what you should be taking a good look at. There is an introductory interest rate of 0% (amazing!) but after a year, the APR goes up to 14.74% to 24.74%. These amounts are something that you will want to keep an eye on.
The main reason for getting this card is the interest rate, so have a look into whether this is the best card that you can get.
Something else that’s really important to bear in mind are the fees. The late payment fees are up to $39 each.
There are also transaction fees to think about:
Balance transfer fees – 3% or $5
Cash advance fees – 5% or $10
Foreign transaction fees – 3%
Should College Students Have a Credit Card?
Credit cards are a hot topic in the personal finance community, because credit cards can be a great way to earn cash back rewards on your purchases, but is the temptation to use them too strong?
Whether you should or shouldn’t have a credit card is a personal choice.
We would suggest having something else in place in case you need money urgently, such as an emergency fund.
Set up an automatic payment to pay your credit card off each month, and don’t think of it as a source of income.
If you are new to cash back cards, the new Sallie Mae Evolve Credit Card could be a perfect place to start.
You know exactly what you’re getting when it comes to interest rates and rewards that adapt to you, which could make it a dependable card for you.
Make sure that you are signing up to use the card responsibly and have other avenues of income.