How to Maximize Premium Credit Card Perks (and Justify Those Fees)

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Premium credit cards usually offer elite travel perks that make just about any avid traveler drool. But those sky-high annual fees? Not so much.

For people who travel often, though, the best premium credit cards can be more than worth the $400-plus fee if you use them right. Here’s how you can decide if those premium credit card perks outweigh the costs.

How to maximize the perks of premium credit cards

Like any annual-fee credit card, premium credit cards essentially pay for themselves if you maximize their rewards and benefits. Here are three ways you can do so effectively.

1. Know all the benefits

Most credit cards advertise their best perks, but they don’t spend much time covering their valuable ancillary benefits.

For example, American Express mentions only briefly that its Platinum Card gives you access to presale tickets to concerts, shows, and sporting events.

Last year, I took advantage of this perk to buy four tickets to Hamilton on Broadway in New York City at face value. Then, I turned around and sold them on StubHub and made a $1,000 profit.

Of course, you won’t always receive that much value from a benefit. But it does pay to know how to utilize what you have.

2. Plan your travel accordingly

Premium credit cards typically come with airport lounge access, so you’ll want to make sure you arrive at the airport early. Some lounges offer hors d’oeuvres, and others provide you with a full meal, helping you avoid paying for costly airport food.

The best premium credit cards also offer elite status or VIP amenities at certain hotel chains. So, you’ll want to make sure you book your travel in a way that maximizes these extras.

Also, some premium credit cards give you more value if you book your travel through their websites rather than with airlines, hotels, or rental car companies directly. Make sure you know which redemption option gives you the best value.

3. Do the math

As you use your premium credit card, keep track of the value you receive. It’s much easier to justify a high annual fee if you can prove the monetary value of its perks.

At the very least, make sure the rewards you’re earning outweigh the cost of the annual fee. Knowing how rewards points are counted and how much they’re worth can help you maximize their value.

3 best premium credit cards available today

Not all premium credit cards are created equal. Each one has a different rewards structure and offers different perks. Review them carefully to make sure you get the most bang for your buck.

Let’s review the main perks of three popular premium credit cards and compare each card’s value to its annual fee.

1. The Chase Sapphire Reserve

The Chase Sapphire Reserve’s $450 annual fee is easily covered in the first year by its sign-up bonus.

You’ll earn 50,000 points after spending $4,000 in the first three months — that’s worth $750 if you redeem the points for travel through Chase Ultimate Rewards.

Ongoing rewards

Although the card’s sign-up bonus is worth more than its annual fee, you won’t receive one every year. For ongoing rewards, the card offers three points per dollar on travel and dining purchases and one point per dollar on everything else.

According to Allianz Travel Insurance, Americans spend, on average, $1,798 on a summer vacation. And the Bureau of Labor Statistics pegs the average household budget for dining out at $3,095 per year.

If we assume only one summer vacation each year, you’ll earn 14,679 points every year just from travel and dining purchases:

($1,798 + $3,095) x 3 points per dollar = 14,679 points

And if you use those points to book travel through Chase Ultimate Rewards, your points are worth 1.5 cents apiece. As a result, your points will be worth $220.19:

14,679 points x $0.015 per point = $220.19

That doesn’t include rewards you earn on non-travel and non-dining purchases. For those, you earn one point per dollar.

For example, say you spend $2,500 per month on non-travel and non-dining purchases — or $30,000 per year. You’ll earn 30,000 points on those purchases, which will be worth $450 if you use them to book travel through Chase:

30,000 points x $0.015 per point = $450

Combined, you’ll earn $670.19 worth of free travel every year. And if you spend more than that, you’ll earn even more value.

Annual travel credit

In addition to standout rewards, the Sapphire Reserve also gives you an annual travel credit. If you book travel using your card, Chase will automatically reimburse you up to $300 per year.

Between the travel credit and the bonus rewards alone, you’re receiving roughly $520 in value each year.

Global Entry or TSA PreCheck

These programs help you get through security and customs more quickly, and the Sapphire Reserve offers an application fee credit up to $100, which you can use for either one.

Since Global Entry gives you expedited screening at customs and access to TSA PreCheck, it’s the better of the two options.

A Global Entry membership lasts five years, so you’re essentially earning $20 per year in value from this benefit.

Airport lounges

To make your airport experience less hectic, the card comes with complimentary Priority Pass Select membership. The program includes more than 1,000 lounges worldwide. With unlimited free visits for you, that means you have Prestige membership (worth $399).

Other perks

While some of the Sapphire Reserve’s benefits are quantifiable, others might not be so easy to value. For example, you’ll receive the following:

  • Special rental car privileges, including discounts from National Car Rental, Avis, and Silvercar
  • Special perks when you stay at Luxury Hotel & Resort Collection properties, including room upgrades, complimentary Wi-Fi, and more
  • Transfer of points to 11 other loyalty programs, including Marriott, Hyatt, Southwest Airlines, and United Airlines
  • Trip protections, including trip cancellation and interruption insurance, travel accident insurance, and lost luggage reimbursement

Annual value

All things considered, you’ll receive at least the following value every year from the card:

  • Bonus rewards: $220
  • Annual travel credit: $300
  • Global Entry: $20
  • Priority Pass Select membership: $399

Combined, these perks are worth $939 every year — more than double the card’s $450 annual fee. Of course, you have to utilize the airport lounges to get value out of that membership. But even without it, you’ll receive more value than what you’re paying.

2. Platinum Card from American Express

The Platinum Card from American Express isn’t heavy on rewards. But it stands out, even among the best premium credit cards, for its elite benefits.

The card’s $550 annual fee is high, but it’s easy to gain that value back if you travel even just a few times each year.

What’s more, the sign-up bonus is enough to cover the annual fee in the first year. You’ll earn 60,000 Membership Rewards points after spending $5,000 in the first three months. Although point values vary depending on how you use them, the sign-up bonus is worth up to $600.

Airline fee credit 

Every year, the Platinum Card gives you $200 in airline incidental fee credits. You can use them for things like checked bags and in-flight meals.

However, there’s a catch: You can use the credits on only one airline, and you can choose your airline only once per year. But if you’re loyal to one airline, these credits should be easy to use up.

Uber credit

Each month, the Platinum Card will add $15 to your Uber account to use for rides or Uber Eats. You’ll receive an extra $20 in December, so the total for the year comes to $200. Those credits don’t roll over from month to month, so you’ll need to use them by the end of each month.

The card also qualifies you for Uber VIP, the ride-sharing service’s elite status. With it, you’ll have access to the highest-rated drivers as well as exclusive promotions and discounts.

Bonus rewards

The Platinum Card gives you five points per dollar spent on flights and hotels booked through American Express Travel. This rewards rate is virtually unbeatable, but it’s hard to say exactly how much it’s worth.

For example, let’s assume the flight and hotel make up at least 50 percent of the average vacation. That’s $899 per year based on the Allianz Travel Insurance estimate. If you book through American Express Travel, you’ll earn 4,495 points on those bookings:

$899 x 5 points per dollar = 4,495 points

That’s $44.95 worth of points every year, on average, from the card’s bonus rewards alone.

Airport lounge access

Many of the best premium credit cards offer access to Priority Pass Select lounges. The Platinum Card takes it a step further, though, offering you more options.

For starters, you’ll receive Priority Pass Select Prestige membership (worth $399). You also can bring two free guests every time you visit one of the lounges. And you’ll have access to The Centurion Lounge network and Delta Sky Club lounges if you fly Delta.

To enter a Centurion Lounge without the Platinum Card, you’ll need another American Express credit card and will have to pay $50 per visit. A single-visit pass to a Delta Sky Club lounge is $59.

Unlike the Priority Pass Select membership, it can be hard to assess the value of access to these other lounges. But the more you travel, the more value you’ll receive.

Global Entry or TSA PreCheck

Like the Chase Sapphire Reserve, the Platinum Card offers a statement credit up to $100 for your Global Entry or TSA PreCheck application. Assuming you choose Global Entry to get both options, that’s worth $20 per year.

Boingo Wi-Fi

With your Platinum Card, you’ll receive complimentary unlimited access to more than 1 million Boingo Wi-Fi hot spots worldwide.

Boingo doesn’t have a comparable membership level, but its Boingo Global membership, which gives you 2,000 minutes per month, is worth $39 per month. So this benefit is worth at least $468 per year.

Elite status

It’s impossible to set a dollar value to this benefit, but it can be invaluable to people who travel often. You’ll receive automatic Starwood Preferred Guest Gold and Hilton Honors Gold status with the card.

With SPG Gold status, you’ll receive room upgrades, late checkout, and bonus rewards every time you book a stay. With Hilton Gold, you’ll receive discounts, late checkouts, room upgrades at certain hotels, and your fifth night free when you book with points.

You’ll also receive complimentary membership in premium car rental programs, which will give you special discounts and upgrades.

Other perks

Other benefits that aren’t easily quantifiable include the following:

  • Complimentary benefits when you book a stay at Fine Hotel & Resorts properties
  • Upgrades and hotel credits when you stay at The Hotel Collection properties
  • Custom itineraries and recommendations through the Platinum Travel service
  • Presale tickets to concerts, shows, sporting events, and more
  • Transfer of points to 21 partners, including Delta, JetBlue, and Starwood

Annual value

Although you can’t place a monetary value on all the Platinum Card’s perks, you can do so on the following:

  • Airline fee credit: $200
  • Uber credit: $200
  • Bonus rewards: $44.95
  • Airport lounge access: $399-plus
  • Global Entry: $20
  • Boingo Wi-Fi: $468-plus

Combined, those benefits are worth at least $1,466.80 annually. Of course, the value you get out of those perks will depend on how often you use them.

3. U.S. Bank Altitude Reserve Visa Infinite Card

This card is reserved for U.S. Bank customers, but its benefits make becoming one worthwhile.

The U.S. Bank Altitude Reserve charges a $400 annual fee, making it among the least inexpensive premium credit cards. And it won’t be hard for cardholders to gain that value back.

For the first year, the card’s sign-up bonus is almost double the annual fee. You’ll earn 50,000 bonus points after you spend $4,500 in 90 days. With points worth 1.5 cents apiece when you redeem for travel, that’s worth $750.

For ongoing value after the first year, you’ll receive the following benefits.

Annual travel credit

Like the Chase Sapphire Reserve, the Altitude Reserve offers a catch-all travel credit. It’s valid for purchases made directly from airlines, hotels, car rental companies, taxis, limousines, passenger trains, and cruise lines.

U.S. Bank will automatically reimburse you up to $325 per year on these purchases.

Bonus rewards

The Altitude Reserve offers three points per dollar on travel purchases and mobile wallet purchases. For the travel portion, you’ll earn 5,394 points per year based on the Allianz Travel Insurance study:

$1,798 x 3 points per dollar = 5,394 points

If you use those points for travel, you’ll have $80.91 worth of travel every year:

5,394 points x $0.015 per point = $80.91

With the mobile wallet purchases portion, this one could become lucrative quickly. Since mobile wallets are becoming more common, you can earn three points per dollar on most of your purchases.

It depends on your spending habits, but this could mean hundreds of dollars in rewards every year.

Gogo in-flight Wi-Fi

Each year, the Altitude Reserve deposits 12 complimentary Gogo in-flight Wi-Fi sessions into your Gogo account. Each session lasts for the duration of the flight.

Gogo doesn’t have an option for a full-flight session; rather, it charges $7 per hour. So, if we assume two hours of in-flight internet time per flight, you’ll get $14 of value out of each pass — or $168 per year.

Lounge access

Like many of the best premium credit cards, the Altitude Reserve offers a Priority Pass Select membership only. The membership is more limiting, however, as it offers you and one guest four visits per year.

With Priority Pass Select lounges typically charging $27 per visit, this benefit is worth $216.

GroundLink black-car service

If you need help getting from the airport to your hotel, you don’t need to worry about taking a shuttle. The Altitude Reserve offers a 15 percent discount on GroundLink black-car service reservations. You’ll also receive a one-time $30 promotional credit to use whenever you want.

Global Entry or TSA PreCheck

As with the other best premium credit cards, you’ll receive a statement credit up to $100 for your Global Entry or TSA PreCheck application. Assuming you choose Global Entry, that’s worth $20 per year.

Other benefits

The card’s other benefits aren’t easy to place a dollar value on, but they could be valuable to you nonetheless:

  • Certain benefits when you rent an Audi A4 through Silvercar
  • A VIP welcome and complimentary breakfast when you stay at Relais & Chateaux boutique luxury hotels

Annual value

The Altitude Reserve isn’t quite as lucrative as the Platinum Card, but its perks easily outpace the card’s annual fee in value:

  • Annual travel credit: $325
  • Bonus rewards: $81 (travel only)
  • Gogo in-flight passes: $168
  • Lounge access: $216
  • GroundLink black-car service: $30+
  • Global Entry: $20

With these benefits alone, you’ll get $840 in value every year. That’s more than double the card’s annual fee.

Should you apply for a premium credit card?

The best premium credit cards offer perks that are worth far more than their annual fees. If you travel at least a few times each year, you’ll likely get more value out of them than what you’re paying.

In the end, though, it depends on how you value the perks. For example, if you don’t care about airport lounges and are fine hanging out near the gate, that benefit isn’t worth much to you.

As you research premium credit cards, tally up the value of the perks you might use to ensure that you get the most bang for your buck. If you apply for one, continue to track that value over the years to make sure you’re getting enough value to make the card worth it.

Interested in refinancing student loans?

Here are the top 6 lenders of 2018!
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1 Important Disclosures for Earnest.

Earnest Disclosures

To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.

Earnest fixed rate loan rates range from 3.89% APR (with Auto Pay) to 5.87% APR (with Auto Pay). Variable rate loan rates range from 2.47% APR (with Auto Pay) to 5.87% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of Month/Day/Year, and are subject to change based on market conditions and borrower eligibility.

Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.

The information provided on this page is updated as of 08/21/18. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at hello@earnest.com, or call 888-601-2801 for more information on ourstudent loan refinance product.

© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.


2 Important Disclosures for Laurel Road.

Laurel Road Disclosures

  1. VARIABLE APR – APR is subject to increase after consummation. The variable interest rates are based on a Current Index, which is the 1-month London Interbank Offered Rate (LIBOR) (currency in US dollars), as published on The Wall Street Journal’s website. The variable interest rates and Annual Percentage Rate (APR) will increase or decrease when the 1-month LIBOR index changes.

3 Important Disclosures for SoFi.

SoFi Disclosures

  1. Student loan Refinance: Fixed rates from 3.899% APR to 8.179% APR (with AutoPay). Variable rates from 2.570% APR to 6.980% APR (with AutoPay). Interest rates on variable rate loans are capped at either 8.95% or 9.95% depending on term of loan. SoFi rate ranges are current as of September 14, 2018 and are subject to change without notice. See APR examples and terms. Lowest variable rate of 2.570% APR assumes the current index rate derived from the 1-month LIBOR of 2.08% plus 0.740% margin minus 0.25% AutoPay discount. Not all borrowers receive the lowest rate. If approved for a loan, the fixed or variable interest rate offered will depend on your creditworthiness, and the term of the loan and other factors, and will be within the ranges of rates listed above. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. *To check the rates and terms you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi to show you what rates and terms SoFi can offer you up front. After seeing your rates, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to issue you a loan. In addition to requiring your explicit permission, these credit pulls may impact your credit score.
  2. Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

4 Important Disclosures for LendKey.

LendKey Disclosures

Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.


5 Important Disclosures for CommonBond.

CommonBond Disclosures

  1. Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). The following table displays the estimated monthly payment, total interest, and Annual Percentage Rates (APR) for a $10,000 loan. The Annual Percentage Rate (APR) shown for each in-school loan product reflects the accruing interest, the effect of one-time capitalization of interest at the end of a deferment period, a 2% origination fee, and the applicable Repayment Plan. All loans are eligible for a 0.25% reduction in interest rate by agreeing to automatic payment withdrawals once in repayment, which is reflected in the interest rates and APRs displayed. Variable rates may increase after consummation. All variable rates are based on a 1-month LIBOR assumption of 2.08% effective July 25, 2018.

6 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Education Refinance Loan Rate DisclosureVariable rate, based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of August 1, 2018, the one-month LIBOR rate is 2.07%. Variable interest rates range from 2.57%-8.17% (2.57%-8.17% APR) and will fluctuate over the term of the borrower’s loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a cosigner. Fixed interest rates range from 3.75%-8.69% (3.75%-8.69% APR) based on applicable terms, level of degree earned and presence of a cosigner. Lowest rates shown require application with a cosigner, are for eligible, creditworthy applicants with a graduate level degree, require a 5-year repayment term and include our Loyalty discount and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty and Automatic Payment Discount disclosures. The maximum variable rate on the Education Refinance Loan is the greater of 21.00% or Prime Rate plus 9.00%. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of their loan.
  2. Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer with the Education Refinance Loan. Borrowers should carefully review their current benefits, especially if they work in public service, are in the military, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans and replace those with the benefits of the Education Refinance Loan. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. We also have several resources available to help the borrower make a decision at http://www.citizensbank.com/EdRefinance, including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.
  3. Citizens Bank Education Refinance Loan Eligibility: Eligible applicants may not be currently enrolled, must be in repayment of their existing student loan(s) and must make the minimum number of payments after leaving school. Primary borrowers must be a U.S. citizen, permanent resident or resident alien with a valid U.S. Social Security Number residing in the United States. Resident aliens must apply with a co-signer who is a U.S. citizen or permanent resident. The co-signer (if applicable) must be a U.S. citizen or permanent resident with a valid U.S. Social Security Number residing in the United States. For applicants who have not attained the age of majority in their state of residence, a co-signer will be required. Citizens Bank reserves the right to modify eligibility criteria at anytime. Interest rate ranges subject to change. Education Refinance Loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, certification of borrower’s student loan amount(s) and highest degree earned.
  4. Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  5. Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.
  6. Co-signer Release: Borrowers may apply for co-signer release after making 36 consecutive on-time payments of principal and interest. For the purpose of the application for co-signer release, on-time payments are defined as payments received within 15 days of the due date. Interest only payments do not qualify. The borrower must meet certain credit and eligibility guidelines when applying for the co-signer release. Borrowers must complete an application for release and provide income verification documents as part of the review. Borrowers who use deferment or forbearance will need to make 36 consecutive on-time payments after reentering repayment to qualify for release. The borrower applying for co-signer release must be a U.S. citizen or permanent resident. If an application for co-signer release is denied, the borrower may not reapply for co-signer release until at least one year from the date the application for co-signer release was received. Terms and conditions apply.
  7. Estimated average savings amount is based on 14,659 Education Refinance Loan customers who saved on loans between August 1, 2017 and July 31, 2018. The calculation is derived by averaging monthly savings across Education Refinance Loan customers whose payment amounts decreased after refinancing, calculated by taking the monthly payment prior to refinancing minus the monthly payment after refinancing. We excluded monthly savings from customers that exceeded $4,375 and were lower than $20 to minimize risk of data error skewing the savings amounts. Savings will vary based on interest rates, balances and remaining repayment term of loans to be refinanced. Borrower’s overall repayment amount may be higher than the loans they are refinancing even if monthly payments are lower.

2.57% – 6.98%3Undergrad
& Graduate
Visit SoFi
2.47% – 5.87%1Undergrad
& Graduate
Visit Earnest
2.47% – 8.03%4Undergrad
& Graduate
Visit Lendkey
2.80% – 6.22%2Undergrad
& Graduate
Visit Laurel Road
2.48% – 6.25%5Undergrad
& Graduate
Visit CommonBond
2.57% – 8.17%6Undergrad
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Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.