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Sallie Mae, a company generally known for student loans, is getting into the credit card business.
Sallie Mae will soon be offering three new credit cards geared toward students and recent graduates, including one that offers cash back incentives for paying your bill on time.
Sallie Mae is currently hosting a waitlist for people interested in applying for the new cards.
Want to know more?
Are these new cards worth it?
If you’re in the market for a cash back card, there are certainly other cards out there that offer higher cash back rewards.
But if you’re a student looking to begin building credit history or you’ve got student loan debt to pay off, a Sallie Mae credit card could be a good option because there may be incentives for on-time payments and paying your student loans.
What should you keep in mind?
As with any credit card, if you carry a balance on your Sallie Mae card from month to month, you’ll be charged interest. So if you’re thinking about applying for any of Sallie Mae’s credit cards, you’ll want to pay your balance in full and on time each month to avoid interest charges. And make sure you budget for expenses like your student loan payments before making any purchases just to earn credit card rewards.