How can I view my credit score with Sallie Mae Mastercard?

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7055
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How can I view my credit score with Sallie Mae Mastercard?

Postby 7055 » Sat Apr 26, 2014 2:13 pm

Got a few questions:

1) First off, how can I view my credit score with the SallieMae Mastercard? I heard that you can somehow, maybe it is on your statements?

2) How do I setup a direct debit from my bank account 100% of my monthly bill so that I don't have to worry about missing a payment?

3) What happens if you are automatically qualified for a credit card and they send it out but you never activate it? Does it affect your credit score?


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otter
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Postby otter » Sat Apr 26, 2014 7:58 pm

7055 wrote:Got a few questions:

1) First off, how can I view my credit score with the SallieMae Mastercard? I heard that you can somehow, maybe it is on your statements?

2) How do I setup a direct debit from my bank account 100% of my monthly bill so that I don't have to worry about missing a payment?

3) What happens if you are automatically qualified for a credit card and they send it out but you never activate it? Does it affect your credit score?


(1) Barclay's doesn't offer a free credit score with the Sallie Mae. They do with the Barclay Rewards and the Arrival, though.

(2) Once logged, go to the green box kind of near the center of the page which says "manage payments". On the next screen find "repeat payments and follow directions...

(3) By "automatic" I assume you mean preapproved. In that case, they won't send you out a card until you apply. If you apply for a card and chose not to use it, it usually doesn't adversely affect your credit, although the hard pull remains.
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

7055
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Postby 7055 » Sun Apr 27, 2014 4:58 pm

otter wrote:(3) By "automatic" I assume you mean preapproved. In that case, they won't send you out a card until you apply. If you apply for a card and chose not to use it, it usually doesn't adversely affect your credit, although the hard pull remains.


So does it even show up on your credit report? Also does singing up for a store credit card to get a discount and then later cancelling it have any negative effect on your credit score?

austintastic
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Postby austintastic » Sun Apr 27, 2014 7:07 pm

otter wrote:(1) Barclay's doesn't offer a free credit score with the Sallie Mae. They do with the Barclay Rewards and the Arrival, though.


False. This is offered on many of Barclays products now. I am looking at my TU FICO right now on my Sallie Mae.

Tools(Right Under Manage Payments) > Access Your Score (Under Your FICO Score)

darkguy2
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Postby darkguy2 » Sun Apr 27, 2014 8:19 pm

If you get a store card that reports then you will take a hit on your AAoA if you close it.
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)

FourOhFour
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Postby FourOhFour » Sun Apr 27, 2014 8:39 pm

otter wrote:(1) Barclay's doesn't offer a free credit score with the Sallie Mae.


My Sallie Mae MC gives me the credit score. It's under Tools in the web management.

Interestingly, I have the UBS credit card which used to be administered by Barclay's and I have an entry in the credit score history from back then, even though (to my knowledge, anyway) the card didn't offer the credit score.

7055
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Postby 7055 » Mon Apr 28, 2014 6:25 am

FourOhFour wrote:My Sallie Mae MC gives me the credit score. It's under Tools in the web management.

Interestingly, I have the UBS credit card which used to be administered by Barclay's and I have an entry in the credit score history from back then, even though (to my knowledge, anyway) the card didn't offer the credit score.


Do you know which credit score it is? And what is AAoA?

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otter
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Postby otter » Mon Apr 28, 2014 8:37 am

7055 wrote:Do you know which credit score it is? And what is AAoA?


I stand corrected... when I first got my Sallie Mae card I was told by their CSR that they didn't offer a FICO score with the card= which was no big deal since I got one with the Barclaycard rewards card(which I had at the time). I have since gotten the Arrival and closed the Rewards card. They advertised the FICO score with both the Rewards and Arrival cards, but I never saw anything which showed that it came with Sallie Mae. After reading Austintasic and 404's posts I found it. My guess is that Barclay's is eventually going to offer it for all their cards, but gradually.

The score Barclay's gives is from Transunion, and it is a FICO score, but not sure which FICO model they use. AAoA= average age of accounts which equals 15% of your FICO score.
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

takeshi
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Postby takeshi » Mon Apr 28, 2014 9:27 am

7055 wrote:What happens if you are automatically qualified for a credit card and they send it out but you never activate it? Does it affect your credit score?

They don't just send you a card. You have to apply. Whether you activate or not you take a hit to AAoA and the hit from the HP. Utilization is also impacted. Effect on score can vary.

7055 wrote:So does it even show up on your credit report? Also does singing up for a store credit card to get a discount and then later cancelling it have any negative effect on your credit score?

Assume that it will show up on your report(s). Closing a card doesn't immediately impact AAoA but it does immediately impact utilization.

darkguy2 wrote:If you get a store card that reports then you will take a hit on your AAoA if you close it.

When it falls off. AAoA is immediately impacted on application. Effect is delayed on closure as closed account in good standing continue to report and factor into AAoA for 10 years.

7055 wrote:And what is AAoA?

Average Age of Accounts.

7055
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Postby 7055 » Mon Apr 28, 2014 9:44 am

otter wrote:AAoA= average age of accounts which equals 15% of your FICO score.


Out of curiousity, how do you know this? Aren't the formulas for calculating credit scores highly guarded secrets?



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