Does Anyone Here Have the Sallie Mae MC?

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swipe_masta
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Does Anyone Here Have the Sallie Mae MC?

Postby swipe_masta » Sat Apr 05, 2014 9:49 pm

Not the useless Upromise one, but the one that gives 5% on groceries and gas. I really wanna know your experience with it. I have researched this card on all the credit card blogs via google and am still on the fence. It def looks like a worthwhile card. I heard you needed to open up a Upromise acct to redeem your rewards, true/false?

If I get this card, it will basically end my relationship with my BCE... Thoughts if you have any?


TheLethargicAge
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Postby TheLethargicAge » Sat Apr 05, 2014 10:14 pm

You can redeem your reward points as statement credits. No need to open a Upromise. Caps are as follows:

5% on first $250/billing cycle at supermarkets (including Walmart and Target)
5% on first $250/billing cycle at gas stations
5% on first $750/billing cycle at book stores (including purchases at Amazon.com that are coded as book store)

Great card, definitely recommended, far superior to the Upromise MC.
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

beef.stu
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Postby beef.stu » Mon Apr 07, 2014 1:43 am

lve had it for the past 2 weeks and I am very happy with it. One of my favorite things about it is how barclays shows you how many rewards points each transaction gave you as soon as it shows up online.

The site is very well done too
(01/10) - Wells Fargo VISA Platinum
(05/10) - Techron Advantage
(10/12) - Amex BCE
(02/13) - Chase Freedom VISA
(09/13) - Discover It
(03/14) - Sallie Mae WMC
(09/15) - Citi Double Cash WEMC
(09/16) - US Bank Cash+ VISA Signature

guitarlifter
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Postby guitarlifter » Mon Apr 07, 2014 3:03 am

This is possibly my favorite card. It perfectly fits my needs. Btw, I can't confirm this, but I've read that you get the 5% even at Walmart (I also read that you should check out up front so that whatever you purchase, groceries or not, are registered as groceries). I'm betting that what I just said about Walmart also applies to other superstores that also have food markets in them like Target. What I can confirm, however, is that you can buy electronic gift cards from Amazon, get the 5% back, send them to yourself, and buy whatever you want from Amazon. I do this all the time. This will also allow you to build up enough gift cards to your amazon account to buy more than $750 some months if you don't hit that limit each month. For example, if you want a $1,500 TV, you can buy $750 in gift cards this month, then do it next month and then buy the TV.

I highly recommend this card.
Whats's in the wallet: Discover It - $3,800 (5% rotating, ShopDiscover), Sallie Mae Rewards MC - $1,000 (5% on gas, groceries, and Amazon), Chase Freedom Visa - $1,200 (5% rotating + 10% extra w/ Chase Total Checking), PayPal Extras MC (1.66% on PayPal, 2.5% on Restaurants- $3,000, Bank of America Cash Rewards Visa Signature - $5,000 (Signature benefits), PNC CashBuilder Visa - $1,000 (Don't use), Fidelity Investment Rewards Amex - $5,000 (2% on everything)

. . . and some store credit/charge cards.

Future cards:

-US Bank Cash+ (for the 5% categories)
-1-2 0% APR cards for some big purchases I'll be making within the year

Mrm-na
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Postby Mrm-na » Fri Apr 11, 2014 1:38 am

I've had it since late last year. It's perfect for me, and so it gets more use than anything else I have. The spending limits are a problem for some people.
You can redeem the rewards as a statement credit. You can redeem any amount as long as it's at least $25.
Only problem I have is that the cheaper gas stations out here (Arco) don't take credit cards. I could buy Arco gift cards at a grocery store (groceries get 5%, same as gas is supposed to), but I haven't had much luck finding those cards anywhere either.

guitarlifter wrote:You can buy electronic gift cards from Amazon, get the 5% back, send them to yourself, and buy whatever you want from Amazon. I do this all the time. This will also allow you to build up enough gift cards to your amazon account to buy more than $750 some months if you don't hit that limit each month. For example, if you want a $1,500 TV, you can buy $750 in gift cards this month, then do it next month and then buy the TV.

It's a good idea for getting the rewards, but it kind of scares me to send a $750 gift card through the mail. Those things have no security at all.
I wish web sites that mail gift cards would make some effort to fix that. They could send an unlock code via email. The gift card would be unlocked by entering the email code after the physical card has been received. Entering that code would show that the card is now in the purchaser's possession, and only from that point forward would it need to be treated like cash.
Then whoever you give it to can scratch off the physical activation code and use it, like usual.
The point is that as long as the card hasn't been unlocked using the email code, it would be refundable to the account that purchased it. That way if you don't receive the card, it's not a big deal.

Several months ago I was looking at a web site that does nothing but sell gift cards, and was disappointed to find that even they haven't been bothered to come up with any kind of mail security. They just say "treat it like cash" - well that translates to "don't send it through the mail", which is exactly what they do. I guess they don't want large orders.

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tbka
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Postby tbka » Fri Apr 11, 2014 8:56 am

Do you have to be a student? Just wondering of the top of my head.
Capital One Platinum $500
Barclaycard Rewards $500
Wells Fargo Secured Platinum $1,000
Elan Financial Platinum $1,000


Experian 641 3/10/14
Equifax 663 3/10/14
TransUnion 631 3/10/14
Barclay 620 8/24/14
Capital One 632 8/24/14
Credit Karma 632 8/24/14

Bankruptcy till 4/18

linuxmachine
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Postby linuxmachine » Fri Apr 11, 2014 12:59 pm

tbka wrote:Do you have to be a student? Just wondering of the top of my head.


No, you dont :)

swipe_masta
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Postby swipe_masta » Sat Apr 12, 2014 2:47 pm

I legit just applied for it today- a few mins ago in fact and... Instant approval! $10,000 limit which is good! So, this basically means I have all the cards I want right now, except for maybe Freedom.

-CSP
-CS (thinking of transferring limit and closing)
-Discover
-Amex BCE
-BofA Better Balance
-Banana Republic Visa
-Macy's Amex
-Target

Cards I've closed in 2013
-Cap One Venture One
-Cap One Venture
-Cap One Quicksilver
-Citi Thank You

darkguy2
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Postby darkguy2 » Sat Apr 12, 2014 10:39 pm

Mrm-na wrote:It's a good idea for getting the rewards, but it kind of scares me to send a $750 gift card through the mail.


That is why you sent it through email.
Discover IT - $5,700
Chase Freedom - $5,700
Costco Citi - $13,000
Sallie Mae - $4,000
Chase Sapphire Preferred - $6,000
Chase Sapphire Reserve - $19,500
Citi Double Cash - $6,500
Amex BCE - $13,000

FICOs: Discover (777), SallieMae (764), Amex (767), Citi (772)
FAKOs: CK- TU (760), EQ (760)

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otter
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Postby otter » Sun Apr 13, 2014 11:30 am

Mrm-na wrote:.Only problem I have is that the cheaper gas stations out here (Arco) don't take credit cards. I could buy Arco gift cards at a grocery store (groceries get 5%, same as gas is supposed to), but I haven't had much luck finding those cards anywhere either


You mean there are gas stations which still do that? I bet they probably charge a fee when poeple use their debt card, too. Kind of an outdated business model... if I bring a basket full of eggs to Arco, will Ms. Oleson give me store credit?

But getting back to OP's post... The Sallie Mae is a great card. It's my go to card when making purchases at gas stations and supermarkets, until I spend $250 each... easy $25 statement credit per month. Haven't used at Amazon yet, but some posts here have made me think I should.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450



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