The end of Sallie Mae Rewards?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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CarefulBuilder14
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Re: The end of Sallie Mae Rewards?

Postby CarefulBuilder14 » Sun Oct 04, 2015 1:52 pm

Can anyone think of precedents as far as how long other Barclaycard products have remained in use after being closed to new applications?
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
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Re: The end of Sallie Mae Rewards?

Postby CarefulBuilder14 » Sun Oct 04, 2015 8:02 pm

Vattené wrote:The fact that card specifics are always changing certainly can't be denied!

It also shows the importance of getting the absolute best signup bonus you can. Take EDP for example:

I got a bonus of 15k MRs when I opened the card 5 months ago. I've earned another 18k-20k or so since then. (The most recent period's earnings haven't yet posted, so that's a rough estimate.)

Some people have been able to get a 30k MR bonus on it lately. I only have a few more MRs (about 3k-5k) than I would have had if I had waited - and I've been using that card regularly. And, of course, I would have earned (lower, but still significant) rewards if I'd been using other cards instead of EDP.

The combination of EDP's reward structure and my spending means I earn MRs quickly on the card - and even in this case I'd have been better-off waiting for the 30k offer (assuming I could actually get the targeted offer without trouble).

Imagine if the 50% bonus had been nerfed in the last few *months* - I'd be in an even worse position!
Last edited by CarefulBuilder14 on Sun Oct 04, 2015 8:27 pm, edited 1 time in total.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

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Vattené
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Re: The end of Sallie Mae Rewards?

Postby Vattené » Sun Oct 04, 2015 8:23 pm

I am no longer underestimating the value of an introductory bonus myself, which wasn't the case when I first started. I was more interested in return rates, thinking I would need to keep a card over the long term for credit purposes anyway (it helps that no longer needs to be as big of a priority for me, too). You just can't rely on that to last. I did luck into getting a $150 offer on my Discover. Besides the occasional window where Chase offers $200 for Freedom, that's still as good of an introductory bonus for a non-AF cash back card I've seen.

I waited around for a while before going for the ED. I wasn't already a cardmember, though, nor was I on their pre-qualified radar at all so I just pulled the trigger on it. Of course a week later they added Prime Amazon membership to the regular offer.
-Vattené
FICO-8:
EX - 805 (2/17) | TU - 787 (2/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

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Re: The end of Sallie Mae Rewards?

Postby CarefulBuilder14 » Mon Oct 05, 2015 7:49 pm

Vattené wrote:I am no longer underestimating the value of an introductory bonus myself, which wasn't the case when I first started. I was more interested in return rates, thinking I would need to keep a card over the long term for credit purposes anyway (it helps that no longer needs to be as big of a priority for me, too). You just can't rely on that to last.

*Messed up this post - meant to make another reply instead of edit.*
Last edited by CarefulBuilder14 on Tue Oct 06, 2015 6:04 pm, edited 2 times in total.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

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Re: The end of Sallie Mae Rewards?

Postby JonE » Tue Oct 06, 2015 2:48 am

slightly off topic but I'm honestly surprised that I haven't been banned on mf. Figure they probably would if they saw me face palming sitting at my computer reading some of this stuff that gets posted regularly.

SM hasn't been interesting for me simply because of the caps. I easily spend $400 a month on groceries and having two cards to get 5% on that is a pain in the ass when Amex BCP has 6% with 50% more on their cap yearly. And you're dealing with AMEX not Barclays.
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Re: The end of Sallie Mae Rewards?

Postby kdm31091 » Tue Oct 06, 2015 8:29 am

JonE wrote:slightly off topic but I'm honestly surprised that I haven't been banned on mf. Figure they probably would if they saw me face palming sitting at my computer reading some of this stuff that gets posted regularly.

SM hasn't been interesting for me simply because of the caps. I easily spend $400 a month on groceries and having two cards to get 5% on that is a pain in the ass when Amex BCP has 6% with 50% more on their cap yearly. And you're dealing with AMEX not Barclays.


Yeah, I mean to each their own, but I'm not going to sit there and say "oh ok I just hit my cap on Sallie so switching to BCP for groceries for rest of month" etc...it's just too much hassle for too little gain honestly, but that's the myfico way. They all have 20 cards and if that 20th card gets them an extra 0.04 cents a month then it's worth it. Blows my mind.

They get annoyed with me because I refuse to say an AARP Visa is a viable option for anyone under the "AARP age". Sorry, but at 24 I'm not carrying around an AARP card for an extra 1% on dining. To me, it's borderline abuse of policy anyway considering they intend the card for actual AARP members so you really aren't "supposed" to get the card or the AARP discounts before you hit the age.

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Re: The end of Sallie Mae Rewards?

Postby TheLethargicAge » Tue Oct 06, 2015 10:37 am

kdm31091 wrote:
JonE wrote:slightly off topic but I'm honestly surprised that I haven't been banned on mf. Figure they probably would if they saw me face palming sitting at my computer reading some of this stuff that gets posted regularly.

SM hasn't been interesting for me simply because of the caps. I easily spend $400 a month on groceries and having two cards to get 5% on that is a pain in the ass when Amex BCP has 6% with 50% more on their cap yearly. And you're dealing with AMEX not Barclays.


Yeah, I mean to each their own, but I'm not going to sit there and say "oh ok I just hit my cap on Sallie so switching to BCP for groceries for rest of month" etc...it's just too much hassle for too little gain honestly, but that's the myfico way. They all have 20 cards and if that 20th card gets them an extra 0.04 cents a month then it's worth it. Blows my mind.

They get annoyed with me because I refuse to say an AARP Visa is a viable option for anyone under the "AARP age". Sorry, but at 24 I'm not carrying around an AARP card for an extra 1% on dining. To me, it's borderline abuse of policy anyway considering they intend the card for actual AARP members so you really aren't "supposed" to get the card or the AARP discounts before you hit the age.


Maybe they tolerate that "abuse" because AARP doesn't have a minimum age requirement? I dunno. I'm 35 and I have an AARP membership. It gets me 15% off at several restaurants and 10% off my AT&T bill. I love it.
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)

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Re: The end of Sallie Mae Rewards?

Postby TheLethargicAge » Tue Oct 06, 2015 10:45 am

kdm31091 wrote:Yeah, I mean to each their own, but I'm not going to sit there and say "oh ok I just hit my cap on Sallie so switching to BCP for groceries for rest of month" etc...it's just too much hassle for too little gain honestly, but that's the myfico way. They all have 20 cards and if that 20th card gets them an extra 0.04 cents a month then it's worth it. Blows my mind.


I can see where you're coming from with that.

Sometimes I "reward" one of my cards with some 1% spend even though I could get an extra 1 or 2 %. And sometimes I can't be bothered to figure out which card to use because the "appropriate" card is about to close cycle and I don't want it to close with a balance.

Then again I buy 53-cent Cuban coffee with my Discover Cashback Checking debit card so I can get 10 cents back (20 cents for the next couple months), so I guess sometimes maximizing rewards is worth the extra hassle.
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)

kdm31091
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Re: The end of Sallie Mae Rewards?

Postby kdm31091 » Tue Oct 06, 2015 10:50 am

TheLethargicAge wrote:
kdm31091 wrote:
JonE wrote:slightly off topic but I'm honestly surprised that I haven't been banned on mf. Figure they probably would if they saw me face palming sitting at my computer reading some of this stuff that gets posted regularly.

SM hasn't been interesting for me simply because of the caps. I easily spend $400 a month on groceries and having two cards to get 5% on that is a pain in the ass when Amex BCP has 6% with 50% more on their cap yearly. And you're dealing with AMEX not Barclays.


Yeah, I mean to each their own, but I'm not going to sit there and say "oh ok I just hit my cap on Sallie so switching to BCP for groceries for rest of month" etc...it's just too much hassle for too little gain honestly, but that's the myfico way. They all have 20 cards and if that 20th card gets them an extra 0.04 cents a month then it's worth it. Blows my mind.

They get annoyed with me because I refuse to say an AARP Visa is a viable option for anyone under the "AARP age". Sorry, but at 24 I'm not carrying around an AARP card for an extra 1% on dining. To me, it's borderline abuse of policy anyway considering they intend the card for actual AARP members so you really aren't "supposed" to get the card or the AARP discounts before you hit the age.


Maybe they tolerate that "abuse" because AARP doesn't have a minimum age requirement? I dunno. I'm 35 and I have an AARP membership. It gets me 15% off at several restaurants and 10% off my AT&T bill. I love it.


I thought they DID have a requirement, but upon looking at their site, don't see one. Perhaps I stand corrected.

That said I thought it was intended for "older" people (if you consider "older" to be 49+).

TheLethargicAge
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Re: The end of Sallie Mae Rewards?

Postby TheLethargicAge » Tue Oct 06, 2015 10:59 am

kdm31091 wrote:
TheLethargicAge wrote:Maybe they tolerate that "abuse" because AARP doesn't have a minimum age requirement? I dunno. I'm 35 and I have an AARP membership. It gets me 15% off at several restaurants and 10% off my AT&T bill. I love it.


I thought they DID have a requirement, but upon looking at their site, don't see one. Perhaps I stand corrected.

That said I thought it was intended for "older" people (if you consider "older" to be 49+).


Your assumption of their intentions differs greatly from their actual actions.

When you use the AARP Visa, chicks look at you think, "Young, sexy, and so loaded he's already retired!"...followed by "Cha-ching!"
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)



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