@CreditCuriousity wrote:Just keep in mind if you cancel this card you can never get it back.. I can think of about 10 cards I would cancel before this in your portfolio
.. To name a few, don't take this personally
1) Store cards at 25% apr's that you love
2) Sync Majors at 25% apr's
3) etc..
It does all come to preference although obviously you know my opinions on your card choices through many conversations lol. The SM is bar none the best no AF credit card for small spend (gas/grocery/amazon) I believe even if you don't use it for Amazon. Just Gas/Grocery at 5% is an awesome deal! Perfect card for a single person with fairly small spend on grocery/gas and amazon.
My sentiments exactly! For small spenders this card leaves the rest in the dust. In the event, like many cards it gets nerfed ... then I deal with it then.
@pizza1 wrote:OK.....Ive had the SM cc for 1 1/2 yrs now, $7kcl, always PIF before statement cuts.
Ive tried mulitple times for an APR reduction (dont even care about the sp CLI thing either), Id just like to have the perm apr reduct, and my TU score is the highest that SM/Barclays has ever seen since beening with them.
Tried again today...lady says, "your acct is good standing, and Im not sure why we arent able to offer you "any" type of a promo on your acct"...(Well, thank you lady, that cleared things up for me too, glad I called in.)
So, basically...Im over it. Tired of calling in and asking for an apr reduction. I dont need the credit or the card. Now granted they have been patient with me in regards too my crazy 3 app sprees since having the card, and surviving any type of AA from them, and thats commendable. lol
Anyways...here are my reasons for keeping the card, and not keeping the card.
KEEP???
They've stuck with me thru 3 crazy app spress, drops in TU score by 5-15 pts sometimes, tons of new accts and INQ, and yet......all still intact.
NOT KEEP???
1. I rarely shop Amazon...maybe 3x a yr for less than $60 each time.
2. I only spend maybe $50-$60 on gas each month...fill up twice a month; plus I have Sams MC.
3. Their grocery store coding is inconsistent. I have to drive out of my way to a different Walmart Superstore for groceries, because the one 5 min from me codes differently..(found that out the hard way), and to "test" out different stores to see which ones I could shop at for groceries.
4. Dont depend on this cc for utilization or credit.
5. Half the time I forget to use the card for gas anyways.
6. Im completely indifferent about this card.
Am i just ticked because I cant get an APR reduction? I dont know..(sighs)........Thoughts?
If you don't use it and want to close some cards than close it... I never wanted that card to begin with and never fell into that trap 
@ddemari wrote:
I have SallieMae MasterCard also, I've had mine since early 2014. I've seen AA twice on this card, I total 4 Barclays cards and I don't want to jinx myself, but this one is prone to AA over the other ones for some reason. I've had the card at 3500 then 1500 then back to 3500 then down to 500 now. They don't like me either over at Barclays, no luck with apr reductions or soft pull anything over the years. I'm just keeping mine open because you can't apply for it anymore. I also have the highest apr of like 22.9%. Idk it sounds like u have no reason for it but it just depends on if you are done managing it.
They like me. Have not needed to ask for lower apr (keep getting 0% offers), no cld, and when they moved the limit from closed arrival, did not even ask for income. I asked about that, and they said I was good, because they had already granted the credit.
If you do not like the card, close. I like, for Amazon and groceries, about 90 in gas station purchases a month (no car, that is just in store purchases at 7 11, which amex will not count unless I use the pump). Your BK is holding you back in their algorithm eyes. I could never get an apr reduction on the us airways, red aviator, silver aviator, finally plain arrival card. So I closed it (they doubled my bonus, so I just used it as cash back). It is your portfolio, choose what you want. I see tons of folks with the Amex and chase travel cards, the barclays travel cards, and Amex chargers. I do not need those cards. Yet, I dare not intrude on their choices 
.
@CreditCuriousity wrote:
@kdm31091 wrote:
@Credit_hawk wrote:
@pizza1 wrote:
@northface28 wrote:
I'm actually going to roll my SM into my cash forward card. The caps are too low and I'm more into cash back not "points", besides, the caps are low anyway.intersting....Thank you NF! You are right about the low caps. I mean..for a family, who ONLY spends $250 in groceries a month?
Oh wow, I'm unfamiliar with the SM as it was before my time here but are the caps really at $250 a month on gas and grocery?
Yes, this was a card marketed/intended for students that took off due to the forum effect. The caps are in line with a student's spend level.
Perfect for a single guy aka like myself that eats out alot and order alot from amazon and doesnt drive a ton nor buys more than a few hundred a month in groceries. Or if you are married wife and you or whatever has two cards which many have on this forum. So not just ideal for college students. SM is alot of peoples favorite card on this forum. Doubt it was marketed for college student just due to name sallie mae.. I sitll have active student loans with them so the name is way to familiar.
And us single gals without car, city living, Amazon junky, and two cats.
@Anonymous wrote:Real talk, I bet there are a few people that really want a SM card and are thinking, Who is this person and why are they teasing me!
If it was a Amex Zync with packs, I would be excited!
To mirror what UncleB said, you never know what might happen with other cards. Terms change.
Closing this card wont really make a difference ony our utilzation. But I totally get your frustration with the APR reduction, it made me think of capital one, 25.24%. But with both SM and cap1.... the APR really does not matter that much as once you start paying interest you are washing away your rewards!
Doesnt the SM card offer all these random bonus offers and stuff to people? I feel like I read special BT offers, literally free account credits, extra cash back for spending, etc. Did all that end when the SM card was nerfed?
I vote keep it for now, but put it in the bottom of the pile of your "to be closed" list. Also since barclays is super secure/touchy/etc and they stayed cool with you, maybe something may come out down the line and moving the limit from this card could be useful in a few years.
@Imperfectfuture wrote:
@Anonymous wrote:
I have credit cards in three countries including the US, and I refuse to pay a single cent in interest in any of them. A single month's of interest at double digits wipes out months or a year's worth of rewards. Generally speaking, yes. But if you had a balance 10-13% interest, and you only carried it for a few months, its not that bad, considering you divide the interest rate by 12. A $1k balance would only be about $11 in interest charges. The only stats that matter are your income, your level of spending, the rewards on the card and the annual fee
Want a low interest backup, get a secured or unsecured line of credit.Well said. My secured lines run at 3.2%. My personal line of credit is at 8.9% (thought it was variable, but is being reported as fixed rate).
3.2% is a GREAT rate for a secured line! Is that a HELOC? My secured line is 3.75%. My personal line of credit is currently at 2.9%, but soon to be 7.9% fixed (credit union visa that has no BT fees, and the only way you do balance transfers are directly move money from the card to your checking account, so basically PLOC).
No, just a secured line of credit when I was rebuilding (now get auto approvals under 2%). The CC from the same credit union is lower than 8%, but I do not need it at this time. Makes me rethink the cards to apply for. But citi, discover and Amex are great for reducing apr. So busy with other things right now, have not needed to ask for anything, especially with the constant 0% bt offers. Still have not paid drop in interest since starting rebuild in 2013.
My Turn...
The Bad : I was on the fence like you. Soo tired of not getting a CLI on a card that I pretty much run all Meijer, gas and Amazon through well past the 250/700 rewards. I used to pay multiple times a month because my limit sucked.
I received two APR reductions which put the card back to the original APR I was approved for. lol
Took a HP for a CLI and declined even though my TU was pretty good back then.
The Good: As others have said you can no longer get the card. It really is a great little 5% rewards card.
Your CL is great IMO. Also they took a chance on me when I was rebuilding my credit. It was my first World MC.
Make a chart of all the good and the bad, which one outweighs the other.
I have come to the conclusion they haven't CLD me yet so I will try to max the rewards monthly then move to another rewards card or maybe not even use it for a few months. The ball is in your court you get to decide.
I would call every 2 or 3 months and ask if there are any offers on your account, keep on them til they give you something.
