The end of Sallie Mae Rewards?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
75 posts
Nixon
Centurion Member
Centurion Member
 
Posts: 1071
Joined: Mon Nov 03, 2014 11:12 am
Location: Great Southwest

Re: The end of Sallie Mae Rewards?

Postby Nixon » Tue Oct 06, 2015 11:44 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.


The same "ex-delinquents", now credit hoarders are basically running the show over there.

Entitlement runs rampant. "My wife didn't get approved for Venture with 720 score" LOL!
Image


User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3746
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: The end of Sallie Mae Rewards?

Postby CarefulBuilder14 » Tue Oct 06, 2015 1:45 pm

TheLethargicAge wrote:
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!"

I could see it being flashy at an early bird dinner, really making those granny panties drop!

But seriously, I think the AARP is mostly in the business of getting insurance royalties nowadays. And I do know one frequent flyer who likes the 3% cash back on travel, even though he'd almost certainly benefit from earning actual miles/MRs/URs on regular spending.
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

yfan
Centurion Member
Centurion Member
 
Posts: 378
Joined: Wed Jul 09, 2014 5:55 pm
Location: San Jose CA

Re: The end of Sallie Mae Rewards?

Postby yfan » Wed Oct 07, 2015 4:18 pm

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.

Well, most people over at MF who are mourning the death of the SM aren't doing it for the groceries... they're doing it for Amazon, getting 5% on which through SM is actually just a loophole. Barclays can patch that up (or Amazon can for that matter) by no longer classifying Amazon as a "bookstore" and there would technically not be any "nerf" at all.

Nixon
Centurion Member
Centurion Member
 
Posts: 1071
Joined: Mon Nov 03, 2014 11:12 am
Location: Great Southwest

Re: The end of Sallie Mae Rewards?

Postby Nixon » Wed Oct 07, 2015 8:57 pm

yfan 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.

Well, most people over at MF who are mourning the death of the SM aren't doing it for the groceries... they're doing it for Amazon, getting 5% on which through SM is actually just a loophole. Barclays can patch that up (or Amazon can for that matter) by no longer classifying Amazon as a "bookstore" and there would technically not be any "nerf" at all.


Image
Image

TheLethargicAge
Centurion Member
Centurion Member
 
Posts: 322
Joined: Tue Oct 16, 2012 11:20 pm
Location: Miami, Cuba

Re: The end of Sallie Mae Rewards?

Postby TheLethargicAge » Thu Oct 08, 2015 7:37 pm

Nixon wrote:
yfan 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.

Well, most people over at MF who are mourning the death of the SM aren't doing it for the groceries... they're doing it for Amazon, getting 5% on which through SM is actually just a loophole. Barclays can patch that up (or Amazon can for that matter) by no longer classifying Amazon as a "bookstore" and there would technically not be any "nerf" at all.


Image


Hehehe!
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)

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3746
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: The end of Sallie Mae Rewards?

Postby CarefulBuilder14 » Fri Oct 09, 2015 11:29 am

I used my SM for a few small grocery transactions, worried I might go over EDP's $6k limit.

I got me wondering...when people have $20k CLs on SM, is that usually from consolidating CLs from other cards? Those are starting limits? Or are they really spending a lot on the card, and only earning 1% on a lot of their spending (apart from any promos)?
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

JonE
Centurion Member
Centurion Member
 
Posts: 335
Joined: Sat Jan 24, 2015 9:55 am
Location: Denver

Re: The end of Sallie Mae Rewards?

Postby JonE » Sat Oct 10, 2015 4:11 pm

yfan 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.

Well, most people over at MF who are mourning the death of the SM aren't doing it for the groceries... they're doing it for Amazon, getting 5% on which through SM is actually just a loophole. Barclays can patch that up (or Amazon can for that matter) by no longer classifying Amazon as a "bookstore" and there would technically not be any "nerf" at all.


I had actually considered Sallie Mae as a backup card at some point, but the caps are an issue since my spending exceeds, and no, I'm not getting two. :D. I will be reapplying for the Amazon Prime card (since I'm a prime member) for 5% uncapped. That's one store card I could find useful.
Current Cards: Chase Freedom, Discover IT
Future: TBD

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3746
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: The end of Sallie Mae Rewards?

Postby CarefulBuilder14 » Sat Oct 10, 2015 7:32 pm

JonE wrote:I had actually considered Sallie Mae as a backup card at some point, but the caps are an issue since my spending exceeds, and no, I'm not getting two. :D. I will be reapplying for the Amazon Prime card (since I'm a prime member) for 5% uncapped. That's one store card I could find useful.

Any idea of when (or the order in which) you'll be going for CSP, EDP, Discover, and Amazon?
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

kdm31091
Centurion Member
Centurion Member
 
Posts: 1009
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: The end of Sallie Mae Rewards?

Postby kdm31091 » Sun Oct 11, 2015 9:25 am

yfan 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.

Well, most people over at MF who are mourning the death of the SM aren't doing it for the groceries... they're doing it for Amazon, getting 5% on which through SM is actually just a loophole. Barclays can patch that up (or Amazon can for that matter) by no longer classifying Amazon as a "bookstore" and there would technically not be any "nerf" at all.


Exactly. And even many of the posters have said the bookstore coding is probably going to be part of the "changes" even for existing users. It's simply a matter of time.

But still not sure why they are so upset about it when the store card gives you 5% uncapped with no worries about coding -- in other words, literally the same exact benefit. I'm not a big fan of many store cards, but that one is a no brainer if you're an Amazon devotee.

Second, and it's kind of semantic but the way some of those people mourn the card you'd think they spend $200 a day on Amazon or something. I use Amazon, yes, when I need something, but I don't shop just because I'd be getting 2% or 5% or whatever off. I get the impression some people on MF are shopping just because of the "discount".

JonE
Centurion Member
Centurion Member
 
Posts: 335
Joined: Sat Jan 24, 2015 9:55 am
Location: Denver

Re: The end of Sallie Mae Rewards?

Postby JonE » Sun Oct 11, 2015 5:14 pm

CarefulBuilder14 wrote:
JonE wrote:I had actually considered Sallie Mae as a backup card at some point, but the caps are an issue since my spending exceeds, and no, I'm not getting two. :D. I will be reapplying for the Amazon Prime card (since I'm a prime member) for 5% uncapped. That's one store card I could find useful.

Any idea of when (or the order in which) you'll be going for CSP, EDP, Discover, and Amazon?


Not sure.

I could wait and do it all at once (*GASP* a SPREE?!) when my scores improve. Or spread it out and go for Amazon (arguably the easiest to acquire) first, then CSP, EDP and Discover.
Current Cards: Chase Freedom, Discover IT
Future: TBD



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 1 guest