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Can You Pay Student Loans With a Credit Card? [6 Best Cards]

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Student loans are a bill you might resent or loathe. If you don’t like the idea of accruing interest on your student loans for years, you’ve probably contemplated trying to pay off student loan debt as quickly as possible.

You may have even considered using a credit card to pay student loans, only to find that it’s much more complicated than it seems.

In this guide, we walk you through whether or not you can (or should) pay student loans with a credit card!

Can You Pay Student Loans With a Credit Card?

So, the question remains: can you pay student loans with a credit card?

The answer is yes, but it may be more complicated or costly than you initially expected.

To be clear, you can use credit cards to pay student loans, but you’ll only want to give serious consideration to doing so if you can avoid excessive fees.

For example, if you strategically use balance transfer checks from credit cards with 0% APR promotions, you can pay off student loans while deferring credit card interest.

The Case for Paying Student Loans With a Credit Card

Young woman using credit card on laptop
Image Credit: comzeal via Adobe Stock

The most obvious reason why you’d want to pay student loans off with a credit card would be to prevent student loan interest from accruing further.

For example, if your student loans accrue at an annual rate of 7%, a $100,000 student loan balance will accrue $7,000 in interest every single year. If you can find the right way to pay student loans with a credit card, you can interrupt the interest accrual cycle, which can save you thousands of dollars every year.

In contrast to student loans whereby payments are typically automatically deducted every month, you get lots of additional flexibility to determine your repayment schedule if you consolidate your student loans through a credit card.

Why You Shouldn’t Pay Student Loans With a Credit Card

There are a ton of reasons why you shouldn’t pay student loans with a credit card, but the biggest one is that you will incur enormous additional fees and even more interest if you don’t know how to avoid them.

To start off, do not pay your student loans by pulling out cash from your credit card using a cash advance. Usually, cash advance fees are in the ballpark of 25%, which is overwhelmingly costlier than typical student loan interest.

Also, do not pay your student loans with an ordinary credit card using a balance transfer, because standard balance transfers have high APRs of 20% to 30%, as well as 3% to 5% balance transfer fees. Paying these fees is even worse than a cash advance.

You should always avoid paying student loans with a credit card if the fees outweigh the interest you’d otherwise accumulate if you just paid off the loans the normal way.

Furthermore, your student loan interest may be tax deductible, so paying your student loans with a credit card will eliminate this deduction.

Lastly, if you pay your student loans with a credit card, you won’t be able to negotiate any repayment plans with your original lender or servicer, so just keep that in mind.

The 3 Best Ways To Pay Student Loans With Credit Cards

There are 3 good methods available for paying student loans with credit cards. In this section, we’ll go over all of them.

Using a Third-party Payment Company Such as Plastiq

Plastiq
Image Credit: Plastiq

There are third-party payment companies that you can use to pay for certain bills or purchases that don’t traditionally accept credit cards. One such example is Plastiq — this company is most popular for facilitating rent payments, mortgage payments, and vendor payments for businesses.

Certain restrictions apply depending on what card you have, but you can even pay for tuition using Plastiq, so you might not even have to take out student loans in the first place.

Plastiq charges a 2.85% fee and the company will send out checks to your creditor on your behalf.

So for example, if you pay off $50,000 in student loans using Plastiq, you’ll be charged a one-time fee of $1,425. You might be using a credit card to earn a solid welcome bonus or ongoing rewards to help offset that fee. After that, you won’t have to worry about your student loans accruing interest any longer — but credit card interest will accrue if you don’t use a 0% offer.

Pay Your Student Loans Directly With a Credit Card

Most federal and government student loans do not allow repayment via credit card. However, if you’re working with a private lender for student loans, you might have the ability to pay your student loans off directly using a credit card.

That way, you can accumulate credit card rewards without accruing any payment fees — be sure to check with your lender before attempting to make any payments.

Hot Tip: Having a huge balance suddenly pop up on your credit report can drop your credit score, so be sure to keep that in mind.

Use Balance Transfer Credit Cards To Pay Your Student Loans

The very last way you can explore paying your student loans is to use credit cards with introductory balance transfer offers available. It’s important to caveat that interest-accruing balance transfers are available on many credit cards — that’s not what we’re aiming for.

Specific credit cards offer introductory promotions after you sign up, whereby you can get a time period of 0% APR on balance transfers. For example, there may be a credit card that offers a 0% introductory APR on balance transfers for 12 months with a 3% balance transfer fee. When you are approved, you can request balance transfer checks, which you can make out to your name and deposit into your bank account. After the check is deposited, you’ll receive a cash infusion in your bank account and a corresponding credit card balance. During the promotional APR period, you will defer credit card interest from accruing on the balance.

For example, if you’re approved for a $20,000 credit limit on a balance transfer card with a 0% balance transfer APR promotion for 12 months with a 3% balance transfer fee, you’ll be able to transfer around $19,400 with a fee of $582. Your total credit card balance will be $19,982, which won’t accrue interest for the introductory 12-month period as long as you make the minimum payment every month. On a student loan interest rate of 7%, that means you’ll avoid accruing $1,400 in interest.

Hot Tip: You should aim to pay the entire balance during the promotional period, as interest will accrue on any balance remaining after the 0% period is over.

The 6 Best Credit Cards to Pay Student Loans

What are the best credit cards to pay student loans? With a focus on cards with balance transfer promotions, we’ve got a handful of options to recommend.

Let’s get into it!

Card Summary

SCROLL FOR MORE
CardWelcome Offer and Annual FeeBalance Transfer Benefits
Chase Freedom Unlimited®
  • Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.
  • Annual fee of $0
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
Chase Freedom Flex℠
  • Earn a $200 bonus after you spend $500 on purchases in your first 3 months.
  • Annual fee of $0
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
Citi Double Cash® Card
  • Earn $200 cash back after spending $1,500 in the first 6 months.
  • Annual fee of $0
0% intro APR on balance transfers for 18 months. After that, the variable APR will be 19.24% - 29.24%
Blue Cash Everyday® Card from American Express
  • Earn a $200 statement credit after spending $2,000 in purchases in the first 6 months.
  • Annual fee of $0 (rates & fees)
0% intro APR on balance transfers for 15 months from the date of account opening, then a variable APR of 19.24% - 29.99% (rates & fees)
Chase Slate Edge℠ Credit Card
  • No welcome offer available
  • Annual fee of $0
0% Intro APR for 18 months from account opening on purchases and balance transfers. Variable APR of 20.49% - 29.24% applies after the introductory period ends.
Blue Cash Preferred® Card from American Express
  • Earn a $250 statement credit after spending $3,000 in purchases in the first 6 months.
  • Annual fee of $0 intro annual fee for the first year, then $95 (rates & fees)
0% Intro APR on balance transfers for 12 months from the date of account opening, then a variable APR of 19.24% - 29.99% (rates & fees)

Chase Freedom Unlimited®

Chase Freedom Unlimited®
U.P. Rating 
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!

This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.
Up to $300 cash back
$0
0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)

The Chase Freedom Unlimited® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.

When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.

Pros
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
  • 5% back on travel purchased through Chase Travel
  • 3% back on dining and drugstore purchases
Cons
    • 3% foreign transaction fee
  • INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
  • Enjoy 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
  • After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
  • No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
  • Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
  • Member FDIC
Financial Snapshot
  • APR: 0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
  • Foreign Transaction Fees: 3% of each transaction in U.S. dollars
Rewards Center

Chase Ultimate Rewards

Probably our all-time favorite balance transfer credit card is the Freedom Unlimited card, which is issued by Chase. Currently, there’s an offer of 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%..

Although the balance transfer fee tends to be on the higher end, we like this card because you generally get approved for higher credit limits than other balance transfer credit cards — also, the ability to earn up to 5% cash-back on your purchases makes a huge difference:

  • 5% cash-back on travel booked through the Chase travel portal
  • 3% cash-back on dining
  • 3% cash-back on drugstores
  • 1.5% cash-back on other purchases

This card is famous for offering at least 1.5% cash-back on all purchases. Also, the Freedom Unlimited card has purchase protection, extended warranty, 24/7 fraud protection, trip cancellation and interruption insurance, and secondary rental car coverage. Additional authorized user cards are available for no additional annual fee, too.

Chase Freedom Flex℠

Chase Freedom Flex℠
U.P. Rating 
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Freedom Flex card is an excellent no-annual-fee card that still earns big with 5% cash-back on travel and other bonus categories.

The Freedom Flex card is an excellent no-annual-fee card that still earns big with 5% cash-back on travel and other bonus categories.
Earn a $200 bonus after you spend $500 on purchases in your first 3 months from account opening.
$200
$0
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)

The Chase Freedom Flex℠ sure does pack quite a punch — especially for a no-annual-fee card.

The Freedom Flex card is an incredible option for those looking for a well-rounded cash-back card, or a powerful point-earner when paired with a premium card in the Ultimate Rewards family.

Pros
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
  • Powerful cash-back earner: 5% back on quarterly categories and travel purchases through Chase Ultimate Rewards, 3% back on dining and drugstore purchases, and 1% back on all other purchases
  • No annual fee
Cons
    • 3% foreign transaction fees in U.S. dollars
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
  • 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
  • No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Flex℠ card
  • Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
  • Member FDIC
Financial Snapshot
  • APR: 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
  • Foreign Transaction Fees: None
Rewards Center

Chase Ultimate Rewards

The Freedom Flex card is a similar product to the Freedom Unlimited card; you’ll get a 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%..

This credit card has no annual fee, too.

With the Freedom Flex card, you can also earn up to 5% cash-back:

  • 5% cash back on quarterly rotating categories (capped at up to $1,5000 in combined purchases each quarter)
  • 5% cash-back on travel booked through the Chase travel portal
  • 5% cash-back on Lyft purchases (through March 31, 2025)
  • 3% cash back at drugstores
  • 3% cash-back on dining
  • 1% back on all other purchases

The bonus categories are slightly different, but you’ll enjoy the same purchase protection, extended warranty, travel insurance, fraud protection, and no-cost authorized users.

Citi Double Cash® Card

Citi Double Cash® Card
U.P. Rating 
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

Great card for the average spender with no specific focus category; worry-free cash-back earning on everything!

Learn More(at our partner's secure site)
Great card for the average spender with no specific focus category; worry-free cash-back earning on everything!
Earn $200 cash back after spending $1,500 on purchases in the first 6 months of account opening.
$200 cash back
$0
0% Intro APR for 18 months on balance transfers, then 19.24% - 29.24% Variable
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Fair to Excellent (580-850)

The Citi Double Cash® Card has long been one of the top cash-back credit cards on the market, and the card now has the ability to earn Citi ThankYou Points!

This means that cardholders of the Double Cash card will now earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Cash back is earned in the form of ThankYou Points. This means each billing cycle, you will earn 1 ThankYou point per $1 spent on purchases and an additional ThankYou point for every $1 paid on your purchase balance as long as there is a corresponding balance in your Purchase Tracker.

Citi has turned the Double Cash card into a top choice for those who are looking for an everyday, no-fuss credit card.

Pros
  • Uncapped 2% for every $1 spent (1% when you buy and another 1% when you pay)
  • Flexible redemption options
  • No annual fee
Cons
  • No bonus categories
  • 3% foreign transaction fees
  • Bonus Offer: Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 19.24% – 29.24%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
  • Citi Double Cash® Card Travel Portal Limited Time Offer: Earn a total of 5 ThankYou Points per $1 spent on hotel, car rental, and attractions, excluding air travel, when booked through the Citi TravelSM portal on ThankYou.com or by calling 1-800-Thankyou and saying “Travel.” Offer is valid through 11:59 PM Eastern Time (ET) 12/31/2024.
Financial Snapshot
  • APR: 0% Intro APR for 18 months on balance transfers, then 19.24% - 29.24% Variable
  • Foreign Transaction Fees: 3% of the U.S. dollar amount of each purchase
Rewards Center

Citi ThankYou Rewards

We love the Double Cash card because it offers simple cash-back rewards plus an attractive welcome bonus with an included balance transfer offer.

At the moment, the balance transfer promotion has 2 parts:

  • 0% intro APR on balance transfers for 18 months. After that, the variable APR will be 19.24% - 29.24%
  • Introductory balance transfer fee of 3% ($5 minimum) for transfers completed within the first 4 months (5% with a $5 minimum after that)

All you need to do is make the minimum payment every month to avoid fees until the introductory period is over.

The Double Cash card earns 2% cash-back: 1% when you buy and 1% when you pay your bill (earned as ThankYou Points).

Other credit card benefits include World Elite Mastercard benefits, zero liability on unauthorized charges, 24/7 fraud protection, digital wallets, contactless payments, and access to Citi Entertainment.

Blue Cash Everyday® Card from American Express

Blue Cash Everyday® Card from American ExpressTerms Apply / Rates & Fees
U.P. Rating 
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This cash-back card offers a capped 3% at U.S. supermarkets, 3% at U.S. gas stations, and 3% on U.S. online retail purchases!

Learn More(at Amex's secure site)

Apply With Confidence

Know if you're approved with no credit score impact

If you're approved and accept this Card, your credit score may be impacted.

This cash-back card offers a capped 3% at U.S. supermarkets, 3% at U.S. gas stations, and 3% on U.S. online retail purchases!
Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
$200
$0
19.24%-29.99% Variable,0% on purchases for 15 months
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)

When it comes to cash-back credit cards, there are dozens of options to choose from. So what sets the Blue Cash Everyday® Card from American Express apart from the rest?

This card is excellent at earning cash-back on your everyday purchases at U.S. supermarkets, U.S. gas stations, and on U.S. online retail purchases. So if you regularly spend money on everyday purchases, this could be the perfect card to add to your wallet.

Pros
  • 3% back on purchases at U.S. supermarkets on up to $6,000 in purchases each year, then 1% back after.
  • 3% back on purchases at U.S. gas stations on up to $6,000 in purchases each year, then 1% back after.
  • 3% back on purchases on online retail purchases on up to $6,000 in purchases each year, then 1% back after.
Cons
    • Rewards are not flexible and can only be redeemed for cash-back. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.
  • Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
  • No Annual Fee.
  • Balance Transfer is back! Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, 19.24% to 29.99% variable APR.
  • 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%.
  • 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%.
  • 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%.
  • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
  • Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Everyday® Card. Enrollment required.
  • Enjoy up to $15 back per month when you purchase a Home Chef meal kit subscription (subject to auto renewal) with your enrolled Blue Cash Everyday® Card.
  • Terms Apply.
Financial Snapshot
  • APR: 19.24%-29.99% Variable,0% on purchases for 15 months
  • Foreign Transaction Fees: 2.7% of each transaction after conversion to US dollars.

The Amex Blue Cash Everyday card is our first Amex card recommendation in this list. Amex is known for offering great credit limits, which will greatly benefit you if you’re looking for a balance transfer card.

The current balance transfer offer is 0% intro APR on balance transfers for 15 months from the date of account opening, then a variable APR of 19.24% - 29.99%. The balance transfer fee is 3% or $5 of the amount of each transfer, whichever is greater.

Additionally, you will earn up to 3% cash-back:

  • 3% cash-back at U.S. supermarkets, up to $6,000 per year in purchases
  • 3% cash-back on U.S. online retail purchases, up to $6,000 per year in purchases
  • 3% cash-back at U.S. gas stations, up to $6,000 per year in purchases
  • 1% cash-back on other purchases

We should also note that there are 2 extra benefits to be aware of:

  • Get $7 back each month after spending $9.99 or more each month on an eligible subscription to The Disney Bundle
  • Get $15 per month in Home Chef statement credits

Chase Slate Edge℠

Chase Slate Edge℠ Credit Card
U.P. Rating 
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Chase Slate Edge card is a great option for those looking to build their credit.

Learn More(at Chase's secure site)
The Chase Slate Edge card is a great option for those looking to build their credit.
None
$0
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)

Chase revamped the Chase Slate Edge℠ in 2021. It’s a no-annual-fee card designed for those looking to build their credit or those who need a low-interest APR card for a large purchase or balance transfer.

While the Chase Slate Edge card does not offer the opportunity to earn any rewards, it is a great option for those who are just beginning their credit journey, and the card still offers lucrative benefits that any cardholder would find value in.

Pros
  • No annual fee
  • Lower your interest rate by 2% each year
  • Raise your credit limit when you pay on time
Cons
    • Does not earn any credit card rewards
Financial Snapshot
  • Foreign Transaction Fees: 

The Chase Slate Edge card is a credit card built solely for debt consolidation and credit — this balance transfer credit card, which is issued by Chase, does not offer any rewards at all, but it does offer a 0% Intro APR for 18 months from account opening on purchases and balance transfers. Variable APR of 20.49% - 29.24% applies after the introductory period ends.

There’s an introductory balance transfer fee of 3% or $5, whichever is greater, on transfers made within 60 days of account opening. After that, the balance transfer fee is 5% or $5, whichever is greater.

As another part of the welcome offer, you’ll get an automatic review for a higher credit limit when you pay on time and spend $500 in your first 6 months.

With this card, you’ll be automatically considered for a 2% APR reduction when you pay on time and spend at least $1,000 by your next account anniversary (until your APR reaches the Prime Rate plus 9.74%).

This credit card offers purchase protection, extended warranty, secondary rental car insurance, fraud protection, zero liability protection, and no-additional fee authorized user cards.

Blue Cash Preferred® Card from American Express

HIGHEST CASH BACK
Blue Cash Preferred® Card from American ExpressTerms Apply / Rates & Fees
U.P. Rating 
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This card is great for those who want to earn cash-back with U.S. supermarkets, U.S. streaming subscriptions, transit, and U.S. gas stations.

Learn More(at Amex's secure site)

Apply With Confidence

Know if you're approved with no credit score impact

If you're approved and accept this Card, your credit score may be impacted.

This card is great for those who want to earn cash-back with U.S. supermarkets, U.S. streaming subscriptions, transit, and U.S. gas stations.
Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
$250
$0 intro annual fee for the first year, then $95.
19.24%-29.99% Variable,0% on purchases for 12 months
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)

The Blue Cash Preferred® Card from American Express is a stellar cash-back credit card for those looking to maximize every purchase they make.

With bonus categories like U.S. supermarkets, select streaming services, U.S. gas stations, and transit purchases, this card rewards you for the items you spend the most on in a big way! For those looking to earn up to 6% cash-back on their purchases, this could be the card for you!

Pros
  • 6% cash-back at U.S. supermarkets (up to $6,000 per year) and on select streaming services
  • 6% cash-back on select U.S. streaming subscriptions
  • 3% cash-back on U.S. gas stations and transit (including rideshares, parking, etc.)
Cons
    • $0 intro annual fee for the first year, then $95 annual fee (rates and fees)
  • Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
  • $0 intro annual fee for the first year, then $95.
  • Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
  • Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 19.24% - 29.99%. Variable APRs will not exceed 29.99%.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
  • 6% Cash Back on select U.S. streaming subscriptions.
  • 3% Cash Back at U.S. gas stations.
  • 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
  • 1% Cash Back on other purchases.
  • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
  • Get up to $120 in statement credits annually when you pay for an auto-renewing subscription to Equinox+ at equinoxplus.com with your Blue Cash Preferred® Card. That’s $10 in statement credits each month. Enrollment required.
  • Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Preferred® Card. Enrollment required.
  • Terms Apply.
Financial Snapshot
  • APR: 19.24%-29.99% Variable,0% on purchases for 12 months
  • Foreign Transaction Fees: 2.7% of each transaction after conversion to US dollars.
Rewards Center

Redeem cash-back through your American Express account

The last card we’ll cover is the Amex Blue Cash Preferred card, which is one of the few cards out there that offers superb rewards and a balance transfer promotion.

Offering a shorter 0% Intro APR on balance transfers for 12 months from the date of account opening, then a variable APR of 19.24% - 29.99%, the Amex Blue Cash Preferred card is worth considering due to a higher welcome bonus and better rewards categories.

The balance transfer fee is 3% or $5, whichever is greater.

This card earns up to 6% cash-back on purchases:

  • 6% cash-back at U.S. supermarkets, up to $6,000 per year
  • 6% cash-back on select U.S. streaming subscriptions
  • 3% cash-back on transit, including taxis, rideshare, parking, tolls, trains, buses, and more
  • 3% cash-back at U.S. gas stations
  • 1% cash-back on other purchases

Every year, you can also qualify for 2 extra perks:

  • Get $7 per month in statement credits when you spend $9.99 or more per month on a subscription to The Disney Bundle (enrollment required)
  • Get $10 per month on Equinox+ credits (enrollment required)

Final Thoughts

Paying student loans with a credit card probably isn’t as easy as you initially thought. Indeed, if you log into your student loan repayment portal, you’ll find that you can usually only make loan payments with a bank account.

However, if you use a bill payment service like Plastiq, you can have checks mailed out to your loan servicer by paying a service fee. In the case of Plastiq, the fee is around 2.85%.

Another alternative is to use balance transfer credit cards to pay your student loans — and this is probably the best idea if you can find the right credit cards to use. If you stick with the Freedom Unlimited card, Freedom Flex card, Double Cash card, Amex Blue Cash Everyday card, Chase Slate Edge card, or Amex Blue Cash Preferred card, you might end up saving quite a bit on interest fees.

The information regarding the Chase Freedom Flex℠ was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Chase Slate Edge℠ Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

For rates and fees of the Blue Cash Everyday® from American Express, click here.
For rates and fees of the Blue Cash Preferred® Card from American Express, click here.

Frequently Asked Questions

Can I pay off my student loan with a credit card?

It depends. If you use a third-party payment provider such as Plastiq, you can pay your student loan or tuition fees with a credit card at an additional fee.

Most loan servicers, including federal and government student loan servicers, do not accept credit card as a form of payment, though a few private lenders do.

Can I pay my student loans with my Amex?

You can, but it’s probably not a good idea unless you’ve located a card with a 0% introductory APR promotion on balance transfers.

Do student loans affect your credit score?

Yes, student loans are reported on your credit report, so they will affect your credit score. The exact extent to which student loans affect your credit score will depend on your payment history, the size of your student loans, and the portion of the loan that is paid off.

Can I use Plastiq to pay my student loans?

Yes, you can absolutely use Plastiq to pay your student loans. You can also even use Plastiq to pay for your tuition, which might eliminate the need to take out student loans to begin with. Just keep in mind that Plastiq charges a 2.85% fee for these types of payments.

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About Stephen Au

Stephen is an established voice in the credit card space, with over 70 to his name. His work has been in publications like The Washington Post, and his Au Points and Awards Consulting Services is used by hundreds of clients.

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