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Sallie Mae MC + Amazon Payments?

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CarbonCard
Established Contributor

Sallie Mae MC + Amazon Payments?

I read somewhere in the forums that Amazon purchases will count on Sallie Mae MC's as bookstore purchases. So I was thinking maybe use Amazon Payments and rack up 5% cash back! Smiley Very Happy

 

Has anyone done it before??

Starting Score: (1/15)TU: 690 EX: 690 EQ: 711
Current Score: (10/18) TU-8: 813 EX-8: 808 EQ: 797
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Message 1 of 9
8 REPLIES 8
longtimelurker
Epic Contributor

Re: Sallie Mae MC + Amazon Payments?


@enxinas wrote:

I read somewhere in the forums that Amazon purchases will count on Sallie Mae MC's as bookstore purchases. So I was thinking maybe use Amazon Payments and rack up 5% cash back! Smiley Very Happy

 

Has anyone done it before??


At least on other cards, Amazon Payments reports as differently from Amazon

Message 2 of 9
enharu
Super Contributor

Re: Sallie Mae MC + Amazon Payments?

+1 to what longtimelurker said. Only actual products sold or fulfilled by amazon qualifies for the 5%. Amazon payments, amazon prime subscription payment, and certain digital purchases not including kindle, are sometimes classified as something else.

Some have reported that amazon fresh is classified as a grocery store, but not much data to prove this yet since rollout is limited to Washington and SoCal.
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Message 3 of 9
CarbonCard
Established Contributor

Re: Sallie Mae MC + Amazon Payments?

Ohh ok thanks!

Starting Score: (1/15)TU: 690 EX: 690 EQ: 711
Current Score: (10/18) TU-8: 813 EX-8: 808 EQ: 797
Goal Score: (7/20) 800+ for all three bureaus

Take the myFICO Fitness Challenge
Message 4 of 9
longtimelurker
Epic Contributor

Re: Sallie Mae MC + Amazon Payments?


@enxinas wrote:

Ohh ok thanks!


Yes, I'm not aware of any great way of manufacturing spend on this card, because the limits are so low.  So while you could buy a $250 MC/Visa gift card at a supermarket, and cash it out at Walmart, that would gain you about $7 after fees, but you can do better spending the $250 on "real" groceries and make $12.50! 

 

And even if the $750 limit on bookstores can be exploited, it's probably not worth risking account closure for a max of $37.50 per month, the people with this card generally get it because it is a great match to their spending, and they want to keep it!

Message 5 of 9
Haroon
New Contributor

Re: Sallie Mae MC + Amazon Payments?

Why would you do that? Walmart counts as a grocery store for this card.
Message 6 of 9
YahComb
Established Contributor

Re: Sallie Mae MC + Amazon Payments?


@Haroon wrote:
Why would you do that? Walmart counts as a grocery store for this card.

regular walmarts usually don't have grocery store/supermarket mcc

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Message 7 of 9
CarbonCard
Established Contributor

Re: Sallie Mae MC + Amazon Payments?


@longtimelurker wrote:

@enxinas wrote:

Ohh ok thanks!


Yes, I'm not aware of any great way of manufacturing spend on this card, because the limits are so low.  So while you could buy a $250 MC/Visa gift card at a supermarket, and cash it out at Walmart, that would gain you about $7 after fees, but you can do better spending the $250 on "real" groceries and make $12.50! 

 

And even if the $750 limit on bookstores can be exploited, it's probably not worth risking account closure for a max of $37.50 per month, the people with this card generally get it because it is a great match to their spending, and they want to keep it!


Actually, the reason I got the SM MC is because I will use it for gas and groceries. The amazon payments is more of an afterthought.

Starting Score: (1/15)TU: 690 EX: 690 EQ: 711
Current Score: (10/18) TU-8: 813 EX-8: 808 EQ: 797
Goal Score: (7/20) 800+ for all three bureaus

Take the myFICO Fitness Challenge
Message 8 of 9
longtimelurker
Epic Contributor

Re: Sallie Mae MC + Amazon Payments?


@Haroon wrote:
Why would you do that? Walmart counts as a grocery store for this card.

Well, as I said, you wouldn't!    But in general, with a card with a much higher limit, or uncapped, this is the way to increase rewards.   I don't spend $5K on real groceries a month, but if my card and supermarket allows me to buy $5K in Visa/MC gift cards, I can cash these out at Walmart in various ways, and end up spending about $60 and get the rewards on $5K spend, which with a 5x card is $250.   And some are spending 5-10x that, every month, and that adds up!

 

But with this card, $250 a month cap is pretty low, and many will spend that on real groceries and so no temptation to do anything else.

Message 9 of 9
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