5% Sallie dying

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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CarefulBuilder14
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5% Sallie dying

Postby CarefulBuilder14 » Wed Dec 14, 2016 12:39 pm

On 3/1/17 Sallie Mae will force-PC to a "Commence" MC which is simple, straightforward junk.
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


Tubpbs
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Re: 5% Sallie dying

Postby Tubpbs » Wed Dec 14, 2016 1:15 pm

CarefulBuilder14 wrote:On 3/1/17 Sallie Mae will force-PC to a "Commence" MC which is simple, straightforward junk.



Too bad. I'm pretty glad I never went for it, but I was never really that close - just mulling it over.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

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CarefulBuilder14
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Re: 5% Sallie dying

Postby CarefulBuilder14 » Wed Dec 14, 2016 2:01 pm

Tubpbs wrote:
CarefulBuilder14 wrote:On 3/1/17 Sallie Mae will force-PC to a "Commence" MC which is simple, straightforward junk.



Too bad. I'm pretty glad I never went for it, but I was never really that close - just mulling it over.

I'm not sure if you mean you were considering it recently or in 2015, but it's been closed to new apps for over a year. We knew this was probably coming.
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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CarefulBuilder14
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Re: 5% Sallie dying

Postby CarefulBuilder14 » Wed Dec 14, 2016 3:52 pm

Commence MC offers 2% on:

Groceries and utilities (cable, phone, internet, electric, gas)

No rewards cap. I'm not sure if "gas" means natural gas heating and/or automobile fuel. Either way, "2% on some stuff" is garbage.

Points are worth 25% more when redeemed against any student loan. Still garbage.

That's how bad this stinks...not even some 3% category of conceivable value. I may play inactivity and retention games with them, as I have no concern about losing it come March.
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

kdm31091
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Re: 5% Sallie dying

Postby kdm31091 » Wed Dec 14, 2016 6:38 pm

This is a pretty severe nerf, no doubt. Of course, not a big surprise since the card has been unavailable for over a year.

I understand people being upset, but there are plenty of options for Amazon, which seems to be the thing are most upset about.

Barclay really doesn't seem to want to put out anything competitive or innovative, though, considering the new "Commence" Sallie is a virtual copy of their basic Rewards card. But, since most consumers seem to be fine with lackluster cards, there's no reason for the issuer to pay out more.

Nixon
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Re: 5% Sallie dying

Postby Nixon » Wed Dec 14, 2016 8:50 pm

CarefulBuilder14 wrote:Commence MC offers 2% on:

Groceries and utilities (cable, phone, internet, electric, gas)

No rewards cap. I'm not sure if "gas" means natural gas heating and/or automobile fuel. Either way, "2% on some stuff" is garbage.

Points are worth 25% more when redeemed against any student loan. Still garbage.

That's how bad this stinks...not even some 3% category of conceivable value. I may play inactivity and retention games with them, as I have no concern about losing it come March.


That's kinda how I plan to play it. I'll play the call every 60 days game for retention offers and when the spend offers dry up i'll just roll it into my Aviator. I've had it for 2 years and change now anyway. :)

It's funny though. I fought so hard to get that card back when I had iffy credit. Four reconsideration attempts got it eventually.
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Tubpbs
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Re: 5% Sallie dying

Postby Tubpbs » Wed Dec 14, 2016 8:54 pm

I was considering it a long while ago. Probably a year or so before it was closed for apps.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

kdm31091
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Re: 5% Sallie dying

Postby kdm31091 » Wed Dec 14, 2016 9:24 pm

Nixon wrote:It's funny though. I fought so hard to get that card back when I had iffy credit. Four reconsideration attempts got it eventually.


That's the odd thing about this card. I get that they were tight with it because of the 5% rewards, but at the same time, it was a card marketed to/for students, so you'd think the underwriting wouldn't be so strict.

The new Commence version will almost certainly be easier to get (if it's even a card they will offer for apps -- unclear if it's that or just a PC only card).

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CarefulBuilder14
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Re: 5% Sallie dying

Postby CarefulBuilder14 » Wed Dec 14, 2016 9:44 pm

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?
Last edited by CarefulBuilder14 on Wed Dec 14, 2016 10:22 pm, edited 1 time in total.
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

Frank512
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Re: 5% Sallie dying

Postby Frank512 » Wed Dec 14, 2016 10:09 pm

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%.
Amex Blue Cash Everyday - $12,000
Capital 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 - 817 (10/2016)



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