Sallie Mae MC - Possibly one of the best cards

[tatterz]

I'm curious why this card is never talked about, it seems.

5% Cashback on groceries (250/mo cap)

5% Cashback on gas (250/mo cap)

5% Cashback on books (750/mo cap)

1% everything else

It is a Mastercard and goes by MCC codes, unlike American Express. This means that you get 5% back at both Walmart and Target (BCP doesn't give 6% at Walmart..only 1%). Amazon is considered a bookstore and has also been confirmed to receive 5% cashback. 5% gas year-round cannot be beaten and is only matched by the PenFed card.

The caps aren't a problem for me - I'm a college student that also delivers pizza and this seems like the perfect card. The PenFed is comparable but also seems more like a hassle to get considering you have to be apart of a government, such as a military member (you can join a military association but still..this costs like $25).

So, whats everyone's take on it? Should I App? I honestly thought that the BCE would be my card of choice but its only 2% on gas and the 3% doesn't count towards WalMart. I'd prefer the BoA Cash Rewards over BCE because its 3% gas and 2% groceries and since its a Visa, WalMart has been confirmed to count as groceries via the MCC.

Edit: Sallie Mae Application

[nishant1]

Yes. It is a good card.

Not attractive enough for those looking to get cash back in few hundreds of dollars each quarter

[zyzzus]

I have wondered the same thing and I am considering this in a small application spree this summer.

[HiLine]

The caps sound quite low for a typical family, but if you're a student, this seems like the ideal card actually.

[tatterz]

Ah. For my next card, I was considering the BoA Cash Rewards (the 1-2-3) and became interested in the Sallie Mae. Both cards aren't really mentioned here much so I was just curious if there were any significant drawbacks.

[CreditCrusader]

This looks to be Barclay-backed. Anyone know the credit qual for this?

[HiLine]

---

@tatterz wrote:

Ah. For my next card, I was considering the BoA Cash Rewards (the 1-2-3) and became interested in the Sallie Mae. Both cards aren't really mentioned here much so I was just curious if there were any significant drawbacks.

---

A lot of times it's about marketing. How often do you see Sallie Mae or BofA credit card commercials and ads? Compare that to the likes of Amex, Chase, and recently Discover.

[tatterz]

---

@HiLine wrote:

The caps sound quite low for a typical family, but if you're a student, this seems like the ideal card actually.

---

That's what I was thinking. It kind of seems too good to be true for me - 5% back year-round at Target/Walmart, Amazon, and gas? Count me in.

The caps on this card used to be $500/mo, which is equivalent to the BCP, but they have since lowered it.

[zyzzus]

I actually cannot find the website for this card...

[tatterz]

---

@zyzzus wrote:
I actually cannot find the website for this card...

---

I actually edited my OP, it has the app.