There is no total cap to the cash rewards you can earn and rewards do not expire. Rewards are earned on qualifying retail purchases less credits, returns and adjustments. Earn 1% cash back rewards on purchases charged to the credit card each billing cycle. Earn 5%, cash back rewards on the first $500 charged to the card each billing cycle on combined purchases of gasoline and groceries. For purchases in these categories that exceed the $500 monthly limit, you can continue to earn the 1% cash back reward. Earn 5%, cash back rewards on the first $1,000 in book purchases charged to the credit card each billing cycle. For book purchases that exceed the $1,000 monthly limit, you can continue to earn the 1% cash back reward.
As soon as you have reached $25 cash back rewards, you can request a check or a statement credit for the total accumulated cash back rewards balance shown on your billing statement. If you or we close your account for any reason, including for inactivity or because we believe you present an increased credit risk, if you engage in fraudulent activity, become delinquent or go overlimit on this or any other Sallie Mae account, or if your account does not remain otherwise in good standing, you may not earn or redeem rewards, and accumulated rewards may be forfeited. Rewards earned cannot be combined with other discount or reward programs unless specifically authorized by Sallie Mae Bank. When you become a cardmember, you will receive the full cash back rewards program rules. Program subject to change.