August 2015 Garden Club/Cult

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kdm31091
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Re: August 2015 Garden Club/Cult

Postby kdm31091 » Tue Aug 04, 2015 4:21 pm

CarefulBuilder14 wrote:I'm toying with the idea of letting Sallie Mae close for inactivity. EDP and Discover make it pretty useless for the rest of 2015, and Barclaycard doesn't invite me to any of their promotional rewards programs.

If Sallie Mae somehow survives nerfing, but BCE/EDP/PRG do suffer, then I can always look for some nice signup bonus on a travel card.


Right, Discover's 4th quarter being Amazon makes Sallie pretty unexciting, and if you use EDP for groceries, there goes that.

Sallie is IMO definitely an overrated card, and it seems like a prime candidate for nerfing. I am truly surprised it has not been nerfed but I think that's because the public does not really seem to know about this card.


kdm31091
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Re: August 2015 Garden Club/Cult

Postby kdm31091 » Tue Aug 04, 2015 4:23 pm

Whatamuji wrote:Hard to believe it's already August. I don't imagine I will be app'ing for any cards this month as I'm pretty happy with what I've got. I'm really beginning to dislike the Discover IT double cashback promo going on simply because I want my bonus cashback now and not at the end of the 12th billing cycle. I'm impatient that way :)


If they gave the rewards out instantly it would attract more churning. The "spread out" bonus encourages you to spend throughout the entire year and you get nothing out of it until the end. It's quite ingenious really, if annoying for those of us who aren't churning but are simply impatient haha

JonE
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Re: August 2015 Garden Club/Cult

Postby JonE » Tue Aug 04, 2015 4:44 pm

kdm31091 wrote:
CarefulBuilder14 wrote:I'm toying with the idea of letting Sallie Mae close for inactivity. EDP and Discover make it pretty useless for the rest of 2015, and Barclaycard doesn't invite me to any of their promotional rewards programs.

If Sallie Mae somehow survives nerfing, but BCE/EDP/PRG do suffer, then I can always look for some nice signup bonus on a travel card.


Right, Discover's 4th quarter being Amazon makes Sallie pretty unexciting, and if you use EDP for groceries, there goes that.

Sallie is IMO definitely an overrated card, and it seems like a prime candidate for nerfing. I am truly surprised it has not been nerfed but I think that's because the public does not really seem to know about this card.


The caps don't make it a very attractive card for me. I think I'd rather get 3% on something like BCE or even 6% with the AF on BCP. Most people defend Sallie Mae like it's underwritten by god himself.
Wallet: Chase Freedom, Discover IT
Chopping Block: Synchrony
Future: TBD

kdm31091
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Re: August 2015 Garden Club/Cult

Postby kdm31091 » Tue Aug 04, 2015 4:50 pm

JonE wrote:
kdm31091 wrote:
CarefulBuilder14 wrote:I'm toying with the idea of letting Sallie Mae close for inactivity. EDP and Discover make it pretty useless for the rest of 2015, and Barclaycard doesn't invite me to any of their promotional rewards programs.

If Sallie Mae somehow survives nerfing, but BCE/EDP/PRG do suffer, then I can always look for some nice signup bonus on a travel card.


Right, Discover's 4th quarter being Amazon makes Sallie pretty unexciting, and if you use EDP for groceries, there goes that.

Sallie is IMO definitely an overrated card, and it seems like a prime candidate for nerfing. I am truly surprised it has not been nerfed but I think that's because the public does not really seem to know about this card.


The caps don't make it a very attractive card for me. I think I'd rather get 3% on something like BCE or even 6% with the AF on BCP. Most people defend Sallie Mae like it's underwritten by god himself.


THANK YOU! It's crazy. I mean, sure, it's a nice card for certain people but the way some people act is like it's indisputably the best card ever and that is not true.

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CarefulBuilder14
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Re: August 2015 Garden Club/Cult

Postby CarefulBuilder14 » Tue Aug 04, 2015 5:13 pm

kdm31091 wrote:
CarefulBuilder14 wrote:I'm toying with the idea of letting Sallie Mae close for inactivity. EDP and Discover make it pretty useless for the rest of 2015, and Barclaycard doesn't invite me to any of their promotional rewards programs.

If Sallie Mae somehow survives nerfing, but BCE/EDP/PRG do suffer, then I can always look for some nice signup bonus on a travel card.


Right, Discover's 4th quarter being Amazon makes Sallie pretty unexciting, and if you use EDP for groceries, there goes that.

Sallie is IMO definitely an overrated card, and it seems like a prime candidate for nerfing. I am truly surprised it has not been nerfed but I think that's because the public does not really seem to know about this card.

It's not very good for heavy spending, or for people open to travel rewards. A few good offers on BCE can easily make up for the difference in rewards rates.

On the other hand, I do plan to keep Arrival long-term, so I'm going to remain a Barclaycard customer (and keep the ID and password). I may later want to open a few cards for travel bonuses, closing them after a year or two. Since there's no AF, maybe it's best to keep it and get "full credit" for it as far as AAoA. It's not like Brooks Bros, where putting activity on the card involves actually buying clothing. Sallie Mae is very friendly to $1 Amazon gift cards.

It is a pretty good SD card to have if I lose my wallet. Maybe I was right before, and should just keep it.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

kdm31091
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Re: August 2015 Garden Club/Cult

Postby kdm31091 » Tue Aug 04, 2015 6:42 pm

CarefulBuilder14 wrote:
kdm31091 wrote:
CarefulBuilder14 wrote:I'm toying with the idea of letting Sallie Mae close for inactivity. EDP and Discover make it pretty useless for the rest of 2015, and Barclaycard doesn't invite me to any of their promotional rewards programs.

If Sallie Mae somehow survives nerfing, but BCE/EDP/PRG do suffer, then I can always look for some nice signup bonus on a travel card.


Right, Discover's 4th quarter being Amazon makes Sallie pretty unexciting, and if you use EDP for groceries, there goes that.

Sallie is IMO definitely an overrated card, and it seems like a prime candidate for nerfing. I am truly surprised it has not been nerfed but I think that's because the public does not really seem to know about this card.

It's not very good for heavy spending, or for people open to travel rewards. A few good offers on BCE can easily make up for the difference in rewards rates.

On the other hand, I do plan to keep Arrival long-term, so I'm going to remain a Barclaycard customer (and keep the ID and password). I may later want to open a few cards for travel bonuses, closing them after a year or two. Since there's no AF, maybe it's best to keep it and get "full credit" for it as far as AAoA. It's not like Brooks Bros, where putting activity on the card involves actually buying clothing. Sallie Mae is very friendly to $1 Amazon gift cards.

It is a pretty good SD card to have if I lose my wallet. Maybe I was right before, and should just keep it.


I never really believe in keeping cards just to SD them and buy an occasional $1 gift card or whatever. If you know it's not useful for you, it's not likely to suddenly become useful, and you seem fairly convinced you don't really need it anymore.

As far AAOA goes....yes, it will hurt you in 10 years when it falls off but your other cards will have aged as well and really, who's to say what scoring systems will be a full decade from now? It may not even matter, and then you've just wasted years maintaining a useless account for no real gain. With as many cards as you have and a pretty thick file, I think the score dip you'd see from the Sallie falling off in 10 years would be very minimal anyway. So in short if it's useless to you I see no reason to prolong it.

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CarefulBuilder14
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Re: August 2015 Garden Club/Cult

Postby CarefulBuilder14 » Tue Aug 04, 2015 7:56 pm

kdm31091 wrote:
Whatamuji wrote:Hard to believe it's already August. I don't imagine I will be app'ing for any cards this month as I'm pretty happy with what I've got. I'm really beginning to dislike the Discover IT double cashback promo going on simply because I want my bonus cashback now and not at the end of the 12th billing cycle. I'm impatient that way :)


If they gave the rewards out instantly it would attract more churning. The "spread out" bonus encourages you to spend throughout the entire year and you get nothing out of it until the end. It's quite ingenious really, if annoying for those of us who aren't churning but are simply impatient haha

It makes what is basically a signup bonus much more proportional with customer use. Rather than give everyone $150 or whatever, they can entice a big spender without throwing a lot of money to customers who just want an easy bonus.

As far as Sallie Mae, I will stop putting even minimal activity on it for now and see how I feel later. If Barclaycard wants to keep me as a customer (and as a rewards parasite, they may not bother to), they can throw a promo offer my way. I last used the card in July, so I'd probably have until around early 2016 to change my mind.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

rockyrock
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Re: August 2015 Garden Club/Cult

Postby rockyrock » Wed Aug 05, 2015 8:53 am

kdm31091 wrote:
I never really believe in keeping cards just to SD them and buy an occasional $1 gift card or whatever. If you know it's not useful for you, it's not likely to suddenly become useful, and you seem fairly convinced you don't really need it anymore.

As far AAOA goes....yes, it will hurt you in 10 years when it falls off but your other cards will have aged as well and really, who's to say what scoring systems will be a full decade from now? It may not even matter, and then you've just wasted years maintaining a useless account for no real gain. With as many cards as you have and a pretty thick file, I think the score dip you'd see from the Sallie falling off in 10 years would be very minimal anyway. So in short if it's useless to you I see no reason to prolong it.


It really depends on the available credit. My USAA Amex has never seen the light of day and still has the activation stickers on them >2 years now. I have no plans to use it but keep it open b/c it represents 10% of my total available credit. That is quite valuable to me.
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC

whit
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Re: August 2015 Garden Club/Cult

Postby whit » Wed Aug 05, 2015 10:19 am

I'm going back in seeding mode--I got my amex, great limit.




Unless they up the sapphire preferred starting bonus to greater than 50k points.





(:

Whatamuji
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Re: August 2015 Garden Club/Cult

Postby Whatamuji » Wed Aug 05, 2015 11:21 am

Decided to consolidate the Amazon card and Freedom card into one. Only 2 more K till I get the CSP lol
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k



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