Saks MasterCard a Suckers Bet In 2013?

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bizzit
 
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Saks MasterCard a Suckers Bet In 2013?

Postby bizzit » Mon Jul 01, 2013 9:35 pm

This past weekend when I was shopping at Saks, the sales associated strongly encouraged me to apply for their Mastercard. The funny thing is I had just read up about it on here beforehand. What gets me about the rewards is how you have to spend A LOT just to get a good amount when you shop with them.

  • $1 - $4,999: 2 points per dollar at Saks
  • $5,000 - $9,999: 4 points per dollar at Saks
  • $10,000+: 6 points per dollar at Saks
That's how much they give for purchases at their stores during non-bonus days.

Does anyone know if the Blue cards from American Express count Saks for the 2 or 3% cash back at department stores?

Aside from the above, I do admit there are some appealing things about Saks Mastercard. Like the black card design, they did a solid job with that design. I’m not that familiar with the World Elite MasterCard benefits but from what I can see it provides a fair amount. Would you say it’s comparable to a Visa Signature or is it better?

And even though the rewards at Saks aren’t all that great I do like the double points at restaurants, gas and grocery.

What do you think? Am I liking it for the wrong reasons like aesthetics or would you say the rewards overall are truly a solid choice?


hematino
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Postby hematino » Mon Jul 01, 2013 9:51 pm

I don't have the card so I really can't comment on its functionality.
All I have to say is this: You could be facing a total of six hard pulls for the Saks World Elite Mastercard.

The card is offered by none other than Capital One, known for pulling the whole trifecta when you apply for a card. And it's not a guarantee that you will get approved to the World Elite Mastercard from the start, it seems that most online anecdotes mention applicants getting only the store card, and then having to reapply for the WEMC, which by the way they factor in the actual amount of money you spend in the store with your store card before even humoring your application. Which leads to another possible three pulls, for a grand total of six.

Anyone here could probably tell you I'm not afraid of credit pulls, and have lots of inquiries across the board. That being said, six inquiries is five too many just to get a **** credit card, especially one thats taking a chance twice for approval. I'm aware that not every single person has had Cap One pull all three upon applying for a card, but for the overwhelming majority this is the case. How bad do you really want this card? Apply at your own risk, and good luck whatever you do.
Now she's eyeless.
The snakes she held once
Eat up her hands.

bizzit
 
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Joined: Mon Jul 01, 2013 9:29 pm
Location: CA

Postby bizzit » Mon Jul 01, 2013 10:28 pm

I hear you on the multiple credit inquiries, if that were to happen, but isn't your credit score only based on one bureau anyway? Like if I were to check my Equifax credit score it would only use the inquiries on their own report, I thought, and wouldn't be able to see the inquiries on the others. That would mean having 3 spread out over all 3 wouldn't affect a score any more than having 1 on one report. Am I wrong? That issue aside do you feel Saks MasterCard could be a wise choice solely for gas/restaurant/grocery?

agp
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Postby agp » Tue Jul 02, 2013 8:58 am

Saks is on UR mall, no need for Saks card anymore.

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

AMEXPlatino86
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Postby AMEXPlatino86 » Tue Jul 02, 2013 3:58 pm

CreditCardGuru did a post on this and he didn't suggest that this card would be something good to get.

http://creditcardforum.com/blog/dont-apply-for-a-saks-credit-card-without-seeing-my-review/
Wells Fargo Platinum 2.100 (5/2011-cld 7/12/14)
AmEx Platinum (6/12)
Barclays Apple (6/12)
AMEX Gold Delta (5/13)
Marriott Rewards (7/14)

My credit score :cool:
EQ: unknown
EX: 762
TU: 752

HookEmHorns
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Postby HookEmHorns » Wed Jul 03, 2013 1:50 pm

After reading that it's a Cap One would make me lose all interest in this thing. Next!
AMEX PRG~1/14--backdated to 2012
AMEX BCE~6/13--backdated to 2012
Chase Freedom~5/13
Discover IT ~12/12

:cool:



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