5% back on gas and groceries. First 250 per month, or something like that. I know a few have this card, but would anybody recommend it as a "consumer" card, by which i mean is it an everyday Joe card?
It says it can help you pay off student loans with rewards..
Sorry if the question is redundant. Let me know if you need clarification.
The reason I ask is because it would make me BCE kinda of obsolete...
@Shock wrote:5% back on gas and groceries. First 250 per month, or something like that. I know a few have this card, but would anybody recommend it as a "consumer" card, by which i mean is it an everyday Joe card?
It says it can help you pay off student loans with rewards..
Sorry if the question is redundant. Let me know if you need clarification.
The reason I ask is because it would make me BCE kinda of obsolete...
Many people have both the SM and BCE...they use the SM up to the cap, then use the BCE. Plus the BCE still has the 3% supermarket category. The best of luck to you.
@celluloid17 wrote:
I have a Sallie Mae and I love it because I'm a low spender on both gas and groceries, so I never reach the monthly cap on either and the rewards appear nearly immediately and you can't forget the 5% back on $750 a month Amazon spend (which I rarely spend much on, but it's nice to know I can). I also have the Chase Freedom, Discover It, US Bank Cash + and Amex TrueEarnings (Costco). I kind of hate categories cards and being so spread out credit wise.
I think the perfect compliment to the Sallie Mae card (if you're not buying groceries for more than one or two people) would be the Fidelity Amex for 2% back on everything. I think those two cards would make up an ideal minimalist credit portfolio, but alas, I'm gardening so no Fidelity Amex for me at the moment.
Sallie Mae, Cash+, & Fidelity Amex is a killer combo. I keep my Cash+ set to restaurants and fast food to effectively make it a 5% dining card. Anything not captured by SM or Cash+ goes to the Fidelity Amex. Not a good combo for anything international (FTFs), but domestically they're pretty great.
How does the card work with Sallie Mae student loans?
I'm curious because I just cosigned for one.
Starting Score: 648
It allows you to redeem your cashback as a "statement credit" towards your student loan
Secondly it's kind of a hassle to get the cash back. Because the 2 simplest ways are into a student loan and as an actual statement credit, but it's a slow is process for the statement credit like 6-8 weeks to post was there estimation. The last way is get a upromise with it and then transfer points to the up roomies account and the have the upromise account cut you a check
Secondly it's kind of a hassle to get the cash back. Because the 2 simplest ways are into a student loan and as an actual statement credit, but it's a slow is process for the statement credit like 6-8 weeks to post was there estimation. The last way is get a upromise with it and then transfer points to the up roomies account and the have the upromise account cut you a check
Mouse over for Limits, Sorted Oldest to Newest
I've really enjoyed my Sallie Mae. In addition to the spend categories, the no annual fee and free FICO makes it a keeper in my book. Mine rolls into a savings account so I don't have any experience with the student loan side of it. I use it for the categories vs an everyday card(I try and rack up travel points on other cards for spending outside of gas/groceries/Amazon). I use a BoA Cash Rewards for the overflow on gas(2%) and groceries(3%). The Fidelity Amex, as mentioned, looks like a good card for everyday out-of-category expenses.
@Gunnar419 wrote:
@dabossman wrote:
It allows you to redeem your cashback as a "statement credit" towards your student loan
Secondly it's kind of a hassle to get the cash back. Because the 2 simplest ways are into a student loan and as an actual statement credit, but it's a slow is process for the statement credit like 6-8 weeks to post was there estimation. The last way is get a upromise with it and then transfer points to the up roomies account and the have the upromise account cut you a check? My statement credit is always posted within a couple of days after I request it.
I second the Sallie Mae MC as a great everyday card. Nice website, useful 5% categories, wider acceptance than the BCE or BCP.
+1 My statement credit posts swiftly as well. Rewards are also posted quickly.
It's a great everyday card esp. if you don't exceed the spending caps.
