5% Sallie dying

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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kdm31091
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Re: 5% Sallie dying

Postby kdm31091 » Thu Dec 15, 2016 7:49 am

CarefulBuilder14 wrote:Barclaycard took their proprietary Rewards card down from their website...a card nearly identical to Commence.

I guess cobrand agreements prevented them from just PCing Sallie Mae Rewards customers to Barclaycard Rewards?


That's all I can think of. I guess Sallie Mae wants to retain a presence on the card, and perhaps the Commence is replacing the actual Barclay Rewards eventually. They are pretty much the same (although the Commence doesn't give 2% on gas, which the Rewards does, but it's irrelevant with flat 2% cards available).


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Re: 5% Sallie dying

Postby rockyrock » Fri Dec 16, 2016 9:02 am

Frank512 wrote:I just got this notice today. What a bummer. This card will be completely useless come March. I've been using this card for several years now and I usually go over the $250 limit on gas every month. The rotating category cards like Discover IT and Chase Freedom no longer seem to do 5% on gas in two out of the four quarters like they used to (haven't paid attn since I had SallieMae). Of course they both do it the same exact quarter too. Is there any other card that gives 5% on gas? I'm not TOO concerned about the groceries as much as the gas. I see the Penfed one does but you have to have some other account to qualify for the Plus version which is 5%.



The Sam's Club MC gives 5% on gas & 3% on dining/travel. I do well with gas, Uber & dining. It maxes out at $6k/yr.

It's not a good card overall and Synchrony is a nightmare if you ever have any issues.

The rewards come once a year in the form of a check. I will continue to use for those three cats and the Citi DC for everything else--except for Discover 5% and Amex Offers too good to pass up lol
Sapphire Reserve: travel & dining
Blue Cash Preferred: groceries & gas
Freedom: 5% cats
Double Cash: everything else

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CarefulBuilder14
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Re: 5% Sallie dying

Postby CarefulBuilder14 » Fri Dec 16, 2016 10:27 am

rockyrock wrote:
Frank512 wrote:I just got this notice today. What a bummer. This card will be completely useless come March. I've been using this card for several years now and I usually go over the $250 limit on gas every month. The rotating category cards like Discover IT and Chase Freedom no longer seem to do 5% on gas in two out of the four quarters like they used to (haven't paid attn since I had SallieMae). Of course they both do it the same exact quarter too. Is there any other card that gives 5% on gas? I'm not TOO concerned about the groceries as much as the gas. I see the Penfed one does but you have to have some other account to qualify for the Plus version which is 5%.



The Sam's Club MC gives 5% on gas & 3% on dining/travel. I do well with gas, Uber & dining. It maxes out at $6k/yr.

It's not a good card overall and Synchrony is a nightmare if you ever have any issues.

The rewards come once a year in the form of a check. I will continue to use for those three cats and the Citi DC for everything else--except for Discover 5% and Amex Offers too good to pass up lol

And (if someone wouldn't otherwise be a Sam's member) it has an annual fee.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

rockyrock
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Re: 5% Sallie dying

Postby rockyrock » Fri Dec 16, 2016 10:49 pm

CarefulBuilder14 wrote:And (if someone wouldn't otherwise be a Sam's member) it has an annual fee.


There is no AF, only the Sam's membership fee which isn't required to have the card, only to shop in the club. I believe you can one, the other or both--it was the same with the co-branded Discover they had years back.
Sapphire Reserve: travel & dining
Blue Cash Preferred: groceries & gas
Freedom: 5% cats
Double Cash: everything else

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CarefulBuilder14
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Re: 5% Sallie dying

Postby CarefulBuilder14 » Fri Dec 16, 2016 11:00 pm

rockyrock wrote:
CarefulBuilder14 wrote:And (if someone wouldn't otherwise be a Sam's member) it has an annual fee.


There is no AF, only the Sam's membership fee which isn't required to have the card, only to shop in the club. I believe you can one, the other or both--it was the same with the co-branded Discover they had years back.

Oh. I was under the impression a Sam's membership was required to have the card. Thus, if someone wanted the CC but wouldn't otherwise want a Sam's membership, the card effectively would have an AF in the form of paying for the otherwise useless membership.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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Vattené
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Re: 5% Sallie dying

Postby Vattené » Sat Dec 17, 2016 6:33 am

How generous of them not to cap their 2% categories. My wife just got her notice, and told me about what it said. I assumed they were just PCing accounts to Rewards cards (and breaking the Sallie Mae partnership) until I saw all the "Commence" nonsense. She doesn't follow credit card rewards much and even she commented on how it was garbage.

Interesting that they say you'll be able to redeem rewards against any student loan now, not just Sallie Mae loans anymore.

The Walmarts and Targets I've used have qualified for grocery spending - something that AFAIK is still pretty unique to Sallie Mae cards - but the fine print specifically called these out as "generally not classified as grocery stores." It's still issued by Barclay and even still co-branded with Sallie Mae, so I wonder if they'll be doing something to change how these merchants are coded in addition to the rewards structure overhaul. I probably won't find out though - I doubt we'll be using the card come March. I could see using it just for my electric bill (which charges a flat fee for credit cards and would still only make sense during the more expensive months), but I'm not too invested in keeping the account alive.

I've put less than $6,000 spend over the life of the card and got good value out of it. We knew it was too good to last forever, and since they disallowed new applications a year ago we new it was just a matter of time. Oh well.
-Vattené
FICO-8: EX - 827 (5/17) | TU - 824 (5/17)
My Cards: Barclay Arrival+ | Discover it | Amex ED
AU:: Discover Miles | BofA BBR | Barclay Commence (SD'd)

rockyrock
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Re: 5% Sallie dying

Postby rockyrock » Sun Dec 18, 2016 12:11 pm

CarefulBuilder14 wrote:
rockyrock wrote:
CarefulBuilder14 wrote:And (if someone wouldn't otherwise be a Sam's member) it has an annual fee.


There is no AF, only the Sam's membership fee which isn't required to have the card, only to shop in the club. I believe you can one, the other or both--it was the same with the co-branded Discover they had years back.

Oh. I was under the impression a Sam's membership was required to have the card. Thus, if someone wanted the CC but wouldn't otherwise want a Sam's membership, the card effectively would have an AF in the form of paying for the otherwise useless membership.


They certainly make the club the center of the experience, I believe the reward comes in the form of a check that must be cashed at a club. This is my first year so I haven't been through the process yet.
Sapphire Reserve: travel & dining
Blue Cash Preferred: groceries & gas
Freedom: 5% cats
Double Cash: everything else

kdm31091
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Re: 5% Sallie dying

Postby kdm31091 » Mon Dec 19, 2016 7:55 am

Vattené wrote:How generous of them not to cap their 2% categories. My wife just got her notice, and told me about what it said. I assumed they were just PCing accounts to Rewards cards (and breaking the Sallie Mae partnership) until I saw all the "Commence" nonsense. She doesn't follow credit card rewards much and even she commented on how it was garbage.

Interesting that they say you'll be able to redeem rewards against any student loan now, not just Sallie Mae loans anymore.

The Walmarts and Targets I've used have qualified for grocery spending - something that AFAIK is still pretty unique to Sallie Mae cards - but the fine print specifically called these out as "generally not classified as grocery stores." It's still issued by Barclay and even still co-branded with Sallie Mae, so I wonder if they'll be doing something to change how these merchants are coded in addition to the rewards structure overhaul. I probably won't find out though - I doubt we'll be using the card come March. I could see using it just for my electric bill (which charges a flat fee for credit cards and would still only make sense during the more expensive months), but I'm not too invested in keeping the account alive.

I've put less than $6,000 spend over the life of the card and got good value out of it. We knew it was too good to last forever, and since they disallowed new applications a year ago we new it was just a matter of time. Oh well.


Regardless of how the merchant codes, if Barclay wants to specifically exclude certain merchants, they're totally allowed to do so. So even if your Walmart/Target comes up as "grocery" they don't have to give you the 2% (and they don't with their basic Rewards card, at least per the terms). Barclay has no power to change merchant coding but they can change which merchants they pay out 2% on.

Nevertheless, really doesn't matter with flat 2% cards being available.

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Vattené
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Re: 5% Sallie dying

Postby Vattené » Mon Dec 19, 2016 11:43 am

Some issuers explicitly exclude them from category rewards, like Chase. Barclay could certainly do that too, but the fine print just said it is up to the merchant coding. It could easily be the case that nothing will change and they just have to disclaim that because it could vary from location to location.

But yeah, a 2% category card is about as lackluster as they come.
-Vattené
FICO-8: EX - 827 (5/17) | TU - 824 (5/17)
My Cards: Barclay Arrival+ | Discover it | Amex ED
AU:: Discover Miles | BofA BBR | Barclay Commence (SD'd)

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CarefulBuilder14
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Re: 5% Sallie dying

Postby CarefulBuilder14 » Mon Dec 19, 2016 2:07 pm

Along the lines of simplification, I may close my Barclaycard accounts entirely in early 2017 (though I'm open to being persuaded otherwise via cash retention). Unless they run some special promotion on Aviator (like bringing back 10k renewal) they don't really have anything that interests me.

As I examine possible reasons to keep anything with Barclaycard:
1. Base rewards...mediocre on both Arrival and the future Commence. No value.
2. BT offers...I could make use of something like a 1% fee for an 18-month "cash advance", but I only get bad ones. No clear value, especially with a limited CL.
3. Reward promos...I've only gotten bad ones after having two cards for an average of two years.
4. APR promos...I got one good renewed 0% one, but it seems to be an isolated thing.
5. Utilization...a trivial concern.
6. No FTFs with pseudo-PIN functionality...I could always get an Aviator later.
7. AAoA/not looking like a churner...this one is a bit of a concern. I do still intend to do a bit more bonus chasing, and I may regret not keeping no-AF cards open. Still, closing one card after 1.5 years of history, and another after 2.5 years, isn't so suggestive of churning.

Can anyone think of anything I might be overlooking?
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card



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