NEWARK, Del. – Student loan giant Sallie Mae said its Upromise unit has introduced a rewards MasterCard through Barclay’s.
The rewards cards offers 5% cash back for college on eligible online purchases at hundreds of major online retailers through Upromise.com; 4% cash back at thousands of Upromise Dining restaurants; up to 3% cash back on eligible gas purchases at Exxon or Mobil locations; 2% cash back at eligible movie theaters and 1% on everything else.
There is no annual fee for the card, no cap on earnings and no minimum spending requirements. Upromise members can earn 5% or more cash back for college when they make eligible online purchases through Upromise. New cardholders can earn a total of 10% or more cash back on those same purchases.
Existing Upromise cardholders will continue to earn cash back for college with their current card and receive a new Upromise World MasterCard with the new rewards structure this fall.