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CarefulBuilder14
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Location: United States

Postby CarefulBuilder14 » Tue Aug 12, 2014 12:45 am

Sallie Mae is great for earning steady, regular cash back. If the OP (as I assume) or anyone else is interested more in the initial sign-up bonus than in long-term rewards, though, then it might not be the best option. The sign-up bonus is only an unexciting $25 statement credit if you use the card once in three months (compared to 50000 MR/$1k/3 months on some PRG mailings, for example).

Chase Freedom offers at least $100 after $500 spending in 3 months. I think I've seen offers for more than $100, too, though.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when


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otter
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Location: Grand Forks, ND

Postby otter » Tue Aug 12, 2014 5:04 am

onion wrote:Oops, thought you meant the BCE, sorry. I haven't heard anything about auto denials about the Sallie Mae card, but I haven't paid that much attention to it. The caps on the rewards just aren't worth it for me, honestly. I spend a bit over $500 a month on gas and food, but to make it simple, let's say $500. With my current cards, I'll get 3% on gas and 3% on food. Lets say I get the Sallie Mae card, $250 at 5% for gas and food, then the other $250 at 3%. That'll average out to 4%, giving me $240 in rewards annually. If I were to just stick with my AmEx and BoA cards for the 3%, I'd be getting $180 annually and the 10% bonus on top of that for having a BoA account. That'll get me to about $190-$200, depending on how much I drive or ride my motorcycle. I don't see an inquiry being worth $40 a year to me, especially after getting all these new cards. It also gets a bit more complicated because I use my AmEx Everyday and get 2.4x MR points per dollar spent on groceries when I use that card, which can be worth more than 3 cents on the dollar. The only other good part about that card is 5% on Amazon, but I don't care since my dad just runs most of that stuff through his business account for me.

Thanks! I was very surprised to have gotten accepted for them, let alone the generous limits they gave me.


It's $250 each... 5% on first $250 for gas, 5% on first $250 for groceries per billing cycle. So $300 earned if you spend the maximum you can to get 5%.
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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onion
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Location: Jacksonville, FL

Postby onion » Tue Aug 12, 2014 5:44 am

otter wrote:It's $250 each... 5% on first $250 for gas, 5% on first $250 for groceries per billing cycle. So $300 earned if you spend the maximum you can to get 5%.


Looks like I'm getting a Sallie Mae then... ****.
FICO TU - 728 - 8/14
FICO EX - 716 - 7/14
FICO EQ - 740 - 7/14

Bank of America Cash Rewards - $2,400
Best Buy - $3,000
American Express Blue Cash Everyday - $8,000
American Express Everyday - $10,000
Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)
American Express Platinum - NPSL
Barclaycard Arrival+ - $3,000
Capital One Yamacard - $11,000

popamode72
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Location: Atlanta, GA

Postby popamode72 » Tue Aug 12, 2014 6:34 am

Just what I thought. If I ever do decide to apply for another card and enough time has passed, I'll go for the Sallie Mae card as one of my next options. Never had anything with Barclay's before but I've heard various stories about them. Also I think I might like it better than the Chase Amazon when it comes to shopping on that website in terms of the possible rewards I could get.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Aug 12, 2014 11:30 am

popamode72 wrote:Never had anything with Barclay's before but I've heard various stories about them.


Good stories or bad stories?
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

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onion
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Joined: Tue Jul 01, 2014 8:59 pm
Location: Jacksonville, FL

Postby onion » Tue Aug 12, 2014 11:47 am

CarefulBuilder14 wrote:Good stories or bad stories?


From browsing myfico, there seems to be quite a bid of bad stories but there is a trend... Almost all the bad stories are posted by people with terrible credit. They tend to complain a lot about adverse action on their accounts (lowered limits, or closed), which should be expected with the low scores that some people have over there.

I've dealt with their customer service today and they were very nice and helpful on the phone, but there's no real story to tell. Just asked for a CLI and added my fiancee as an AU.
FICO TU - 728 - 8/14

FICO EX - 716 - 7/14

FICO EQ - 740 - 7/14



Bank of America Cash Rewards - $2,400

Best Buy - $3,000

American Express Blue Cash Everyday - $8,000

American Express Everyday - $10,000

Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)

American Express Platinum - NPSL

Barclaycard Arrival+ - $3,000

Capital One Yamacard - $11,000

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otter
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Joined: Sat Aug 24, 2013 8:45 pm
Location: Grand Forks, ND

Postby otter » Tue Aug 12, 2014 3:16 pm

Barclay's is an okay company... I think the whole AA thing you hear on fico is a bit overblown. If your credit is marginal, and you get too much new credit, it might spook Barclay. I do wish their interest rates were lower, but don't carry a balance unless their is an intro 0% period anyway.
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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CarefulBuilder14
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Posts: 3753
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Tue Aug 12, 2014 3:26 pm

otter wrote:Barclay's is an okay company... I think the whole AA thing you hear on fico is a bit overblown. If your credit is marginal, and you get too much new credit, it might spook Barclay. I do wish their interest rates were lower, but don't carry a balance unless their is an intro 0% period anyway.


Other than the high APR (and the phone menu being hard to use), are there bad things about it? Is the website easy to use? Have you ever had a dispute regarding a legitimate transaction? Or any cases of outright fraudulent charges?
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

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onion
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Joined: Tue Jul 01, 2014 8:59 pm
Location: Jacksonville, FL

Postby onion » Tue Aug 12, 2014 4:51 pm

CarefulBuilder14 wrote:Other than the high APR (and the phone menu being hard to use), are there bad things about it? Is the website easy to use? Have you ever had a dispute regarding a legitimate transaction? Or any cases of outright fraudulent charges?


The website is nice, and the android app is the best I've ever used for banking.
FICO TU - 728 - 8/14

FICO EX - 716 - 7/14

FICO EQ - 740 - 7/14



Bank of America Cash Rewards - $2,400

Best Buy - $3,000

American Express Blue Cash Everyday - $8,000

American Express Everyday - $10,000

Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)

American Express Platinum - NPSL

Barclaycard Arrival+ - $3,000

Capital One Yamacard - $11,000

Frank512
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Joined: Fri Feb 01, 2013 8:58 pm
Location: Toms River, NJ

Postby Frank512 » Wed Aug 13, 2014 6:34 am

I love my SallieMae card. They also send bonus offers you can sign up for to get an additional 2 points per dollar (max 2500 points) in certain categories. The most recent one was on grocery, drug store and electronics stores.. Since I only use it for gas and grocery, I basically get 7% cash back on groceries for a short while. That's an extra $25 back for what I already would have spent anyway if I were able to maximize it. I am up to $218 cashback for the year on it so far.
Amex Blue Cash Everyday - $12,000
Capitol One Quicksilver - $10,000
Discover IT - $7,500
Chase Freedom - $6,900
Chase Amazon - $5,000
Sallie Mae - $5,000
Barclay NFL - $3,000
Sears - $2,001
Kohl's - $900

FICO - 798 (4/29/14)



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