I've had my eye on the Sallie Mae card for awhile. Unlike many of the other prime cards out there, it seems to hit all my reward "sweet spots": 5% on groceries (up to $250/month), 5% gas and book stores, etc.
The problem is everyone I see who has this card seems to have scores in the mid to high 700's. And when I check some of other sites that track pulls/scores, approvals seem to run in the mid 700's. This leads me to beleive Barclays has set the bar pretty high on this card.
I'm going on an app spree later this week to add 3-4 cards to the three I currently own. I would love for Sallie Mae to be one of them, but don't want to waste a hard pull if the chances are slim/none.
My UTL is really low (<1%); all lates are 3+ years old (30 day). Income: $80K; DTI: 13%. What's holding my score back is one lingering baddie (CO) from 2009.
My scores are below...what do you guys think? Is the worth taking a shot at Sallie Mae? Or better to wait until next year for the baddie to fall off?
Waiting for my 2 baddies to fall of as well. I also have a collection coming off next month, so well see where that boosts me. It's already off my EX and EQ. A 97 point boost is amazing!
Also, does a 30 day late count as Date of First Delinquency? or does DOFD mean seriiously deliquency like 60 or 90+ days?
I'd like to know so I have an idea of when the accounts will fall off.
@Shock wrote:Waiting for my 2 baddies to fall of as well. I also have a collection coming off next month, so well see where that boosts me. It's already off my EX and EQ. A 97 point boost is amazing!
Also, does a 30 day late count as Date of First Delinquency? Yes the clock starts on the first 30 day delinq (unless you get current somewhere in there, in which case the clock 'resets') or does DOFD mean seriiously deliquency like 60 or 90+ days? No
I'd like to know so I have an idea of when the accounts will fall off.
@afinch1992 wrote:i was approved with around a 700 TU, although it was only for $1400.. less than 2 year AAoA and largest single month tallie on a slngle card of $1200. This seemed to be their sticking point when I called in, even though I flat out told them I wanted to run a 4k charge through the card. They seem to care more about that and other limits in your pocket once your in. Very disappointed I didnt get the WMC version with higher limits, so I will probably close or app for the WMC version again in a few months
Interesting...you're actually the first person I've come across that had a score around 700 who was approved for the SM. Gives me some hope, I guess 
. Although you may be the outlier, not the norm...
Did you have any baddies on your report when you applied? Do you remember if you had other inquiries showing? UTL?
I'd be fine with a lower limit (>$1000). I would use it exclusively for groceries, gas and books...that usually doesn't end up being more than a few hundred dollars/month for me...
Thats Dw, bear with me...
So you're saying my DOFD for this account is 10/2009 instead of 07/2007?
If that's the case, I'm not waiting another two and a half years. I will contact them and not stop until they do a goodwill deletion.
I don't mean to hijiack your thread
I would not say they are that difficult to get. My son was approved last fall during his first ever app spree. He had no cards, only 2 student loans and was approved for the Sallie Mae with a $3200 CL. Shocked me and him too
@Dw4250 wrote:
@afinch1992 wrote:i was approved with around a 700 TU, although it was only for $1400.. less than 2 year AAoA and largest single month tallie on a slngle card of $1200. This seemed to be their sticking point when I called in, even though I flat out told them I wanted to run a 4k charge through the card. They seem to care more about that and other limits in your pocket once your in. Very disappointed I didnt get the WMC version with higher limits, so I will probably close or app for the WMC version again in a few months
Interesting...you're actually the first person I've come across that had a score around 700 who was approved for the SM. Gives me some hope, I guess
Did you have any baddies on your report when you applied? Do you remember if you had other inquiries showing? UTL?
I'd be fine with a lower limit (>$1000). I would use it exclusively for groceries, gas and books...that usually doesn't end up being more than a few hundred dollars/month for me...
No baddies, 7 INQ on TU, and 1% UTL at the time. My actual score from TU according to pulled reports from elimintateidtheft was 697 (exact same as Credit Karma), but my FICO once I logged into Barclays site was 734. So YMMV
