Reply
New Contributor
Posts: 63
Registered: ‎01-22-2012
0

Sallie Mae mastercard 5% back on gas

Hello myfics, hope all is well with everyone. I was interested in da sallie mae MC? Is this card worth getting? Only my IT card gives 5% on gas and we know when that rolls. Iam averaging $700 monthly gas expense.. What do you all think? Discover TU fico is 748. no baddies, three inquiries on each bureau, all become one year dis July..overall utilization is 25%... Highest CL is 7800..Let me know..

Valued Contributor
Posts: 1,491
Registered: ‎05-17-2013
0

Re: Sallie Mae mastercard 5% back on gas

700 a month on gas?? You need a new car and not a credit card my friend. Im pretty sure sallie mae is only 250 a month on gas. So your gonna have to get another card... I would look at the BOA cash rewards to fill the other 450 up. Idk anything about penfed but if you can get one im pretty sure they have 5% too.

TU08 Fico Score (700)-Goal Score-(750)
AMEX PRG NPSL,AMEX BCE $15,000, Capital One venture card $10,000,Us Airways mastercard $9500, CSP $6000, Capital One Quicksliver $5500, Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000, Chase Freedom $3200, Discover it $3000, Chase Southwest Premier $2000
New Contributor
Posts: 63
Registered: ‎01-22-2012
0

Re: Sallie Mae mastercard 5% back on gas

Lol!!!!! More than one vehicle..thanks for the input..

Valued Contributor
Posts: 1,491
Registered: ‎05-17-2013
0

Re: Sallie Mae mastercard 5% back on gas


mrcredit7 wrote:

Lol!!!!! More than one vehicle..thanks for the input..


no problem! Also I Have done it yet because I just got the IT card but you should be able to go to home depot or lowes and buy a gas card and still get the 5% back during Q2. 

TU08 Fico Score (700)-Goal Score-(750)
AMEX PRG NPSL,AMEX BCE $15,000, Capital One venture card $10,000,Us Airways mastercard $9500, CSP $6000, Capital One Quicksliver $5500, Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000, Chase Freedom $3200, Discover it $3000, Chase Southwest Premier $2000
Contributor
Posts: 208
Registered: ‎03-20-2013
0

Re: Sallie Mae mastercard 5% back on gas

My experience with Barclay indicates that they will more than likely auto-decline you if you have any accounts under a year old, even with a stellar credit score they are nearly impossble to recon until you've got a year on all of your latest accounts so that they can tell you aren't suddenly becoming a credit risk.

 

Now if you already have another card with them, you may be able to PC or to take some of your existing credit and use that to open up a Sallie Mae.

 

As has already been said, the Sallie Mae is 5% back up to $250. Pen Fed offers reward point and 5% cashback on gas cards and Fort Knox CU offers a 5% cashback on gas card as well.

 

Hope this helps.



Amex BCE: $16.5k, Discover It: $5k, Chase Freedom Visa: $10k, Fidelity Amex: $7.5k, PenFed Cash Rewards Visa: $3.5k, CapOne Union Plus MC: $4.5k, Barclays Upromise MC: $5k, BoA Cash Rewards 123 MC: $1.5k
Valued Contributor
Posts: 12,898
Registered: ‎08-13-2013
0

Re: Sallie Mae mastercard 5% back on gas

[ Edited ]

mrcredit7 wrote:

Hello myfics, hope all is well with everyone. I was interested in da sallie mae MC? Is this card worth getting? Only my IT card gives 5% on gas and we know when that rolls. Iam averaging $700 monthly gas expense.. What do you all think? Discover TU fico is 748. no baddies, three inquiries on each bureau, all become one year dis July..overall utilization is 25%... Highest CL is 7800..Let me know..


Penfed has a 5% gas card unlimited on the amount of gas you put on the card

Old user name newportguy*** Current Score: myFico EQ - 813 (01/14/2015) Discover TU Fico - 809 (02/04/2015) EX Fico - 809 ( 02/04/2015 ) ******* Amex - BCP 10 K * Discover - IT 10.5 K * U.S. Bank Cash + Visa Signature 8.8 K * PenFed - Cash Rewards 5 K * Amex - GDSM 5 K ******FICO 800 Club Member ******* EQ 813 *** TU 809 *** EX 809 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 830's Scores ******
Frequent Contributor
Posts: 299
Registered: ‎11-22-2013
0

Re: Sallie Mae mastercard 5% back on gas

An auto decline due to new accounts is not true. When I applied my AMEX was six months and NFCU was three months. I was not auto approved but it was not due to the new accounts. It was due to the phone number I provided was not under my name. When I reconed they only asked to clarify the account holder of the phone, nothing about my previous cards.

From what I recall, The $250 limit is on your rewards cap, not on how much you can spend on gas.I think $700/month spend is alright for this card.
NFCU Cash Rewards $14,000 | AMEX TE $12,400 | Sallie Mae $7,500 | WalMart MC $7,500 | Target Red Visa $6,000 | America Discount Tire $700

Last app 3/16/14. TU FICO 769 as of 11/08/14
Valued Contributor
Posts: 1,491
Registered: ‎05-17-2013
0

Re: Sallie Mae mastercard 5% back on gas


Wade64 wrote:

mrcredit7 wrote:

Hello myfics, hope all is well with everyone. I was interested in da sallie mae MC? Is this card worth getting? Only my IT card gives 5% on gas and we know when that rolls. Iam averaging $700 monthly gas expense.. What do you all think? Discover TU fico is 748. no baddies, three inquiries on each bureau, all become one year dis July..overall utilization is 25%... Highest CL is 7800..Let me know..


Penfed has a 5% gas card unlimited on the amount of gas you put on the card


That card has an annual fee after the first year for 25 bucks if you did a combo of freedom, it, and boa cash rewards with no fee it penfed would still come out on top for the op- would look like this on 500 dollar spend a month:

 

6 months with boa at 0.03=$90

6 months with freedom/ it at 0.05=$150

total=240

 

12 moths with penfed at 0.05=300-25 dollar fee $275

 

TU08 Fico Score (700)-Goal Score-(750)
AMEX PRG NPSL,AMEX BCE $15,000, Capital One venture card $10,000,Us Airways mastercard $9500, CSP $6000, Capital One Quicksliver $5500, Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000, Chase Freedom $3200, Discover it $3000, Chase Southwest Premier $2000
Valued Contributor
Posts: 2,271
Registered: ‎02-18-2014
0

Re: Sallie Mae mastercard 5% back on gas

I don't spend more than $250 per month on gas, so I have thought about getting the Sallie Mae card.  Fortunately, I realized that I have the PenFed CashRewards card with 5% and don't have to pay the $25 annual fee.  If I didn't have that I would likely get the SM card.


AMEX BCP - $34.5K | AMEX Delta SkyMiles Gold - $10.4K | AMEX Platinum - NPSL | BofA BBR VISA - $15K | BofA Merrill Lynch + VS - $15K | Barclaycard Arrival WMC - $17.5K | Chase freedom VS - $5.5K | CSP VS - $25K | Chase Slate VS - $13.8K | Citi DC - $23.9K | Citi HD - $25K | Coldwater Creek MC - $15K | Discover it - $14.5K | FIA AMEX - $16K | Synchrony/HH Gregg - $10K | Synchrony/Lowes - $25K | LMCU PP VISA - $10K | NFCU cashRewards VS - $30K | NFM (Store Card) - $6K | PFCU Platinum CRV+ - $39K | US Bank Cash+ - $16.5K | US Bank Cash+ - $12.5K | USAA WMC - $20.3K Last HP 16 Nov 14 - Gardening into 2016.
Frequent Contributor
Posts: 299
Registered: ‎11-22-2013
0

Re: Sallie Mae mastercard 5% back on gas

I was incorrect in my post above. It is $250 spend per month on gas, and not your rewards limit per month. Here it is from the website:

5% cash back on the first $250 you spend per month on eligible gas and grocery purchases each and the first $750 you spend per month on eligible book purchases
NFCU Cash Rewards $14,000 | AMEX TE $12,400 | Sallie Mae $7,500 | WalMart MC $7,500 | Target Red Visa $6,000 | America Discount Tire $700

Last app 3/16/14. TU FICO 769 as of 11/08/14

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.