Sallie Mae Statement 4%

[Anonymous]

ya'll trying to give people a heart attACK ACK ACK ACK?

[takeshi74]

---

@Involver wrote:

I don't understand why people are so impatient to see this card nerfed.

---

They're not impatient.  They're worried.

[longtimelurker]

---

@kdm31091 wrote:

---

@Involver wrote:

Your rewards aren't going anywhere.  I don't understand why people are so impatient to see this card nerfed.

---

I don't think anyone was talking about it being nerfed actually, they were just misinterpreting the statement's rewards breakdown (which is 4% + 1% = 5%, not just straight 5%). If it were being nerfed I highly doubt they would simply take away 1% in rewards.

---

Right, and this comes up from time to time on a number of cards, with variations., especially Chase.  I remember recent panic with people reporting the CSP was only giving 1 point on dining because of the lay out:

 1 point per $ earned on all purchases

+ 1 point per $ earned on dining

not seeing or understanding the "+".  And on Freedom, after spending $100 at Amazon, it reads "Bonus on 4Q 5% category Amazon: 400"   leading to people getting confused about the calculation, shouldn't 5x on $100 be 500 points.

Bottom line, if you think something is wrong, look more carefully for a  line like "1 something on all purchases"!

[Anonymous]

This is a little late post on this tread, so my apologies.

Thinking Barclay could revamps this card as follows

Groceries 3.5% at $225 monthly Limit

Gas 3.5% at $150 to 200 monthly Limit

Amazon 4% at $500 monthly Limit

I think it may be a stop gap for losses or increase to Barclay's bottom line.

Additionally still making it more attractive to the consumers as it beats of many Non-AF cards.

They would then need to advertise the card which they were not really doing in the past.

It would still appeal to the Studends, Single's in workforce, even small Family's.

I certainly could still make use of the card in this rewards structure. As it beats out BCE and many other 3% grocery cards. Large families would still opted for the BCP 6% groceries ($75 annual fee) or have the Hubby get a SM card and the Wifey get a SM card for 3.5.% at $450 monthly limit.

Unfortunately Banks don't think that way, and more likely to change rewards that are much in line with current reward cards. The Banks are looking to maximize profits. However, I think there is a play there if Barclay runs the numbers on there existing Sallie Mae card holders. The results may find a profitable niche. Not everyone carries a 0 balance on the card. Just us points hounds.

Plus, no Vice President wants to work that hard on a plan that would slightly increase profits by a smaller margin. Unless they can have High certainly more applications will be processed increasing those margins.

Current card holders should enjoy the benefits while they last. Usually changes take a while to implement, unless the plan is to totally combine the card into another existing card Barclay offers, which is the easy way to totally retire the card.

History shows the later is the most followed process as its the easier route and doesn't put those in the decision making process at risk. 

[bada_bing]

Did someone ask why there are those that are impatient to see the card nerfed?

There aren't that many SMs out there. Barclay's never marketed the card at all. It is possible that the

small base of card holders could fly under the radar for a long, long time. Even though the card probably

never was close to profitable, it isn't like Barclay's is being bled dry by the small portfolio and small reward

caps. I p!an on waiting it out, hopefully for years.

[Anonymous]

Agreed, That is my plan as well. And hoping it will last years.

[longtimelurker]

---

@Anonymous wrote:

This is a little late post on this tread, so my apologies.

Thinking Barclay could revamps this card as follows

Groceries 3.5% at $225 monthly Limit

Gas 3.5% at $150 to 200 monthly Limit

Amazon 4% at $500 monthly Limit

I think it may be a stop gap for losses or increase to Barclay's bottom line.

Additionally still making it more attractive to the consumers as it beats of many Non-AF cards.

They would then need to advertise the card which they were not really doing in the past.

It would still appeal to the Studends, Single's in workforce, even small Family's.

I certainly could still make use of the card in this rewards structure. As it beats out BCE and many other 3% grocery cards. Large families would still opted for the BCP 6% groceries ($75 annual fee) or have the Hubby get a SM card and the Wifey get a SM card for 3.5.% at $450 monthly limit.

Unfortunately Banks don't think that way, and more likely to change rewards that are much in line with current reward cards. The Banks are looking to maximize profits. However, I think there is a play there if Barclay runs the numbers on there existing Sallie Mae card holders. The results may find a profitable niche. Not everyone carries a 0 balance on the card. Just us points hounds.

Plus, no Vice President wants to work that hard on a plan that would slightly increase profits by a smaller margin. Unless they can have High certainly more applications will be processed increasing those margins.

Current card holders should enjoy the benefits while they last. Usually changes take a while to implement, unless the plan is to totally combine the card into another existing card Barclay offers, which is the easy way to totally retire the card.

History shows the later is the most followed process as its the easier route and doesn't put those in the decision making process at risk. 

---

OK, but, you are basically putting out figures without knowing details of the other side of the equation, i.e. what Barclay's profit or loss on this type of model would be.   And while the structure wiould be attractive enough for you, I don't know if people would be sufficiently interested to apply for a new card with that, many were already put off by the smallish cap on groceries and gas. 

But yes, if /when it gets nerfed, I would expect it to much more standard (maybe 2% on some things like the Rewards maybe, or replaced by that card), there doesn't seem to be much incentive for banks to creatively restructure cards that they have dropped

[kdm31091]

It's likely it will eventually change or go away, but it could be in two weeks or in five years. All you can do is wait until you hear something.

[CreditCuriosity]

Has been a year approx probably a bit shorter and still going strong(since they no longer were taking applications)..  Until the time it is nerfed or goes away I will continue to love my SM card.  No sense in rehashing this as it is still working as intended and still getting APR reductions and CLI on mine for 5% category use.  Also get promos by BT checks, special dining 2% offers among other spend incentives offered to me on a normal basis, so this card is far from dead currently

[Anonymous]

---

@CreditCuriousity wrote:

Has been a year approx probably a bit shorter and still going strong(since they no longer were taking applications)..  Until the time it is nerfed or goes away I will continue to love my SM card.  No sense in rehashing this as it is still working as intended and still getting APR reductions and CLI on mine for 5% category use.  Also get promos by BT checks, special dining 2% offers among other spend incentives offered to me on a normal basis, so this card is far from dead currently

---

I'm pretty sure they disconuted applications during winter last year, so more like 4-5 months - not a year yet. I kept pushing my mom to apply but she waited too long!