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Sallie Mae Approval Odds or Advice?

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SquareObsidian
Established Member

Sallie Mae Approval Odds or Advice?

I've been reading up on the Sallie Mae World Mastercard, and was wondering if I should go ahead and app now before my Amex card reports. I'm really liking this card for the 5% on gas and groceries, plus I use amazon quite a lot.  I've seen mixed reviews on them, but its been the same with cap1. Who've actually been pretty good to me lately. 

 

What do you guys think?

 

My CC profile in my signature is up to date.

No late payments, no negative anything.

Usually keep my util below 7%.

Usually PIF my cards in full every month.

 

Scores as of 10/3

 


ExperianFICO® SCORE
 711


EquifaxFICO® SCORE
 705


TransUnionFICO® SCORE
 763

 

I'm sure they may have dropped a tad because of the recent Amex inq, though CK and CS don't seem to think so. (Even though they're fako's.)

 

I've been reading they pull TU quite a lot, is this true?

 

Thanks guys! ♥



Amex BCE $6,000 10/13 ♥ Chase Freedom $2,200 9/13 ♥ Discover it $1,250 2/13 ♥CapitolOne Quicksilver $1250 9/12 ♥


Message 1 of 7
6 REPLIES 6
SquareObsidian
Established Member

Re: I said I was going to garden for now but..

Updated some missinformation.



Amex BCE $6,000 10/13 ♥ Chase Freedom $2,200 9/13 ♥ Discover it $1,250 2/13 ♥CapitolOne Quicksilver $1250 9/12 ♥


Message 2 of 7
thelethargicage
Valued Contributor

Re: I said I was going to garden for now but..

I think you're good to go, but you'll be probably get stuck with a Platinum MC and a low CL.  Get some of your limits up (especially your Amex) and I'm sure you'll get better terms.  Letting some of your inquiries on TU (if any) age or fall off will definitely improve your chances.


Message 3 of 7
SquareObsidian
Established Member

Re: Sallie Mae Approval Odds or Advice?

So you think I'll be better off if I wait for the 3x cli from American Express? If I get approved, of course?


Amex BCE $6,000 10/13 ♥ Chase Freedom $2,200 9/13 ♥ Discover it $1,250 2/13 ♥CapitolOne Quicksilver $1250 9/12 ♥


Message 4 of 7
myndreamland
Established Member

Re: Sallie Mae Approval Odds or Advice?

Barclays dislikes new accounts. The two cards that just reported on your report might be a problem. Other than that, I think you'll be fine. SallieMae was my 2nd card after I had my Discover for only 7 months. It's true that you might get stuck with a low CL. However, if all you're after is the 5%, $500 CL won't be much of a problem anyway. Plus, you'll get auto CLI at the 6 mo. mark if you use the card. Good luck.

Message 5 of 7
SquareObsidian
Established Member

Re: Sallie Mae Approval Odds or Advice?

Still on the fence about this.

 

Although, its true I'm not too worried about the credit limit, even though a shoiney world mastercard would be nice.

Really like the fact that they also are now giving out free.... TU Ficos?

And you really can't beat the 5% back on gas.

 

Which report are they most liekly to pull?



Amex BCE $6,000 10/13 ♥ Chase Freedom $2,200 9/13 ♥ Discover it $1,250 2/13 ♥CapitolOne Quicksilver $1250 9/12 ♥


Message 6 of 7
Johnnyblaze1986
Valued Member

Re: Sallie Mae Approval Odds or Advice?

If that's your true Trans Union fico, you'll get approve. Now as far as limit goes, I'm not to sure what they will start you with. I was approved for $12500 a little over a week ago and I had two new accounts, 1 from amex ($2000) and 1 from Citibank ($7200) on my credit report. 

 

If you want a high CL, I would probably wait until your amex 3x cli post to your credit report, but that's totally up to you.

Current Score: EX: 802 TU: 793 EQ: 790 / Last App: 04/11/2014 / In the garden until I find a house I like.

Citi Dividend $14,000Amex Blue Cash Preferred $14,000Chase Ink Cash $12,500Sallie Mae $12,500BOA Business Cash Back Rewards $10,000Chase Sapphire Preferred $8,500 Capital One Quicksilver $1,000     
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