For those struggling with student debt, a new credit card is hardly the answer.
Yet, lender Sallie Mae is banking on a few new offerings specifically geared toward recent grads with college loans.
The Accelerate card comes with 1.25% cash back on all purchases plus an extra incentive for student loan borrowers: a 25% bonus on cash-back rewards that are used to pay down any federal or private student loan.
With Ignite, cardholders earn 1% back on purchases and a 25% bonus on cash-back rewards after making six consecutive on-time payments.
“The goal is not to increase debt but to establish credit and do so responsibly,” said Rick Castellano, a spokesman for Sallie Mae…..Read more>>