Laurel Road Student Loan Cashback Card
Laurel Road is offering $300 in cashback rewards towards any eligible student loan after you spend $3,000 in the first 90 days with your Laurel Road Student Loan Cashback card. It is worth $150 if redeemed for statement credit.
Laurel Road Student Loan Cashback Card offers unlimited 2.0% in Cashback Rewards for each $1 spent on eligible Purchases if you redeem your Cashback Rewards towards your Student Loan with an eligible servicer. You will earn 1.0% in Cashback Rewards for each $1 spent on eligible Purchases if redeemed for a statement credit.
For a list of eligible servicers, click here.
Laurel Road Cashback Card Bonus Summary
Bonus – $300
Required Spend – $3,000 within the first 90 days.
Additional Offer – 0% intro APR for 25 months on balance transfers made within first 60 days
Offer Expiry – None
Foreign Transaction Fee – None
Annual Fee – $0 (None)
Better Bonus Alert- Currently, Laurel Road is also running an excellent referral promotion. In case you would like to use our referral link for a $300 referral bonus, here is our Referral Link
- Extended Warranty – Extended Warranty doubles the original manufacturer’s warranty up to a maximum of twelve (12) months on most items you purchase.
- Purchase Assurance – Most items you purchase entirely with your covered card are covered if damaged or stolen for ninety (90) days from the date of purchase as indicated on your covered card’s receipt.
Cashback earned do not expired and there is no minimum amount for redemption. Cashback can be redeemed as:
- Redeeming for a Statement Credit – Cashback is valued at 1%.
- Redeeming for a Student Loan Credit – Cashback is valued at 2%.
The Fine Print
- Introductory offer: For a limited time earn a cashback reward after spending $3,000 within the first 90 days of account opening. Offer is subject to change at any time. The cashback reward amount will be $300 if redeemed towards student loans with an eligible servicer. The cashback reward amount will be $150 if redeemed for statement credit. Cashback is awarded based on eligible credit card purchases excluding transactions such as cash advances of any type, balance transfers, convenience check transactions, overdraft protection transfers and quasi-cash transactions.
This is a decent sign up bonus. Although the sign up bonus of $300 is on higher end, the requirement is also tougher ($3,000 in 90 days). The card itself is lackluster given there are many cards in the market that offers flat 2% cashback, without needing to redeem it towards student loans. If they want to market it as Student Loan Cashback Card, we hope they will increase the cashback percentage when redeemed for student loan.