With a kid heading off to college soon, I’m starting to realize it’s never too early to talk to children about finances. Our children all have their own savings accounts to manage, but it is time to start thinking about that next stage of life and financial responsibility. We recently looked into the Sallie Mae Ignite Credit Card to help our son get started on the road to adulthood and setting financial goals. We’re excited about all of the features this card has to offer to a young adult trying to build a credit history.
What is the Sallie Mae Ignite℠ Card?
Sallie Mae has a new suite of credit cards that can help students and new college graduates manage their finances at different times in their lives. This might include paying down a student loan, establishing credit, or finding a way to earn cash back to help fund a financial goal. Sallie Mae Ignite can help students build credit and earn cash back rewards for good financial habits. This will help my son do something he needs to do (build credit), and get a reward for doing so.
Who is the Sallie Mae IgniteSM Credit Card for?
The Sallie Mae Ignite credit card is for students who are ready to manage their own finances and want to be rewarded for being fiscally responsible. This card can help students set and reach their financial goals. It’s the card made “for where you’re headed.”
What makes the Sallie Mae IgniteSM Credit Card good for students?
- What’s not to love about getting cash back for every purchase? The Sallie Mae Ignite Credit Card gives 1% cash back on every purchase, every day! I love knowing that my son is getting value when he buys things he needs.
- This credit card values on-time payments. If my son makes six consecutive months of on-time payments he can earn a 25% bonus on his cash back rewards. That’s free money and I would certainly encourage him to take advantage of this!
- The Sallie Mae Ignite Credit Card has some high security tools like pausing your card (in case it gets lost or misplaced) and personalized alerts via their app. The app even allows students to keep spending in check with daily, weekly, or monthly alerts that tell them how much they have spent toward their limit.
- As I mentioned, the Sallie Mae Ignite Credit Card has its own app! If you think someone used your card without permission, there’s an easy solution. The app allows users to file a disputed charge with the tap of a button. They are making it so easy for students!
How can students use the cash back feature?
I will be the first to say it, my kids aren’t the best at saving money. However, they have big dreams about heading off to college and starting life on their own. I think one of the rude awakenings will be the cost of living since we have always paid for our kids needs and wants.
I love that the Sallie Mae Cash Back Credit Cards encourage students to be financially savvy on so many levels. I could see my son using the cash back rewards to buy his groceries, go to the movies, and even finance his own travel adventures. This credit card really is a good fit for students and I can’t wait for him to try it out.