cancel
Showing results for 
Search instead for 
Did you mean: 

Sallie Mae mastercard 5% back on gas

Established Contributor

Re: Sallie Mae mastercard 5% back on gas

Sallie Mae has no annual fee.  After I read this post I went back again and confirmed on the app page.  Where are you seeing that it has an annual $25 fee?

FICO: EQ 768 | TU 813 | EX 781

Amex BCE $25000, SFFCU Visa $15000 + LOC $5000, USAA Amex $6000, USAA MC $7000, Cap1 $8000, Freedom $12000, Slate $500, Barclays "RIP" SM $11500, USBank Cash+ $7500, Citi Diamond $7900, Citi Double Cash $3700, Care Credit $13500k.
My Credit Repair Journey
Message 11 of 22
Frequent Contributor

Re: Sallie Mae mastercard 5% back on gas

I believe the $25 AF they are talking about has to do with the penfed card.
NFCU Cash Rewards | CSP | WalMart MC | Target Red Visa | Citi Costco | AMEX BCE
Message 12 of 22
Established Contributor

Re: Sallie Mae mastercard 5% back on gas

I got Sallie Mae Oct. Instant approval with new account in March, April, June & 2 in July. So it's not am auto decline. I had 5 new.

It's only 5% back on the $250 as people mentioned so might want to look into another card that offers 3%.

I didn't know about the PenFed card as if it's unlimited that sounds awesome. I've spent $500+ gas in 1 trip before.
EQ 773 * EX 786 * TU 797
Message 13 of 22
Established Contributor

Re: Sallie Mae mastercard 5% back on gas

At least $700 in gas is $35 cash back so if your spending that much you get back AF in 1 month & then some.
EQ 773 * EX 786 * TU 797
Message 14 of 22
Super Contributor

Re: Sallie Mae mastercard 5% back on gas

I have an random question for all of you that have the SM card. How do you get cashback is statement credit or is it actually an check they send to you like chase and discover do ?



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 15 of 22
Moderator

Re: Sallie Mae mastercard 5% back on gas


JediNeo wrote:
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.

I would agree with you more than the other poster for sure. I have an Arrival that's like 4 months old so no way and I just got approved for the SM card.. If you can't get the PenFed I'd go for this one.

Message 16 of 22
Moderator

Re: Sallie Mae mastercard 5% back on gas


mongstradamus wrote:

I have an random question for all of you that have the SM card. How do you get cashback is statement credit or is it actually an check they send to you like chase and discover do ?


My card just loaded on to my Barclays account profile -- there are three options.. you can deposit it to your Upromise account (of which you can then transfer out to a bank -- I've got a upromise account and it isn't hard to do.), you can have it pay down your SM student loans, OR you can get a statement credit.

Message 17 of 22
Moderator

Re: Sallie Mae mastercard 5% back on gas


MoreRewards wrote:
At least $700 in gas is $35 cash back so if your spending that much you get back AF in 1 month & then some.

Totally agree.. the penfed card is way better for them if they can get it!

Message 18 of 22
Super Contributor

Re: Sallie Mae mastercard 5% back on gas


KennyS2006 wrote:

mongstradamus wrote:

I have an random question for all of you that have the SM card. How do you get cashback is statement credit or is it actually an check they send to you like chase and discover do ?


My card just loaded on to my Barclays account profile -- there are three options.. you can deposit it to your Upromise account (of which you can then transfer out to a bank -- I've got a upromise account and it isn't hard to do.), you can have it pay down your SM student loans, OR you can get a statement credit.




Thanks for that information. So is upromise account similar to setting up CMA with fidelity to cash out for fidelity amex card? I am trying to be patient and wait for some inquiries to age before i app for it. It sounds like an really nice card :-)



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 19 of 22
Moderator

Re: Sallie Mae mastercard 5% back on gas


mongstradamus wrote:

KennyS2006 wrote:

mongstradamus wrote:

I have an random question for all of you that have the SM card. How do you get cashback is statement credit or is it actually an check they send to you like chase and discover do ?


My card just loaded on to my Barclays account profile -- there are three options.. you can deposit it to your Upromise account (of which you can then transfer out to a bank -- I've got a upromise account and it isn't hard to do.), you can have it pay down your SM student loans, OR you can get a statement credit.




Thanks for that information. So is upromise account similar to setting up CMA with fidelity to cash out for fidelity amex card? I am trying to be patient and wait for some inquiries to age before i app for it. It sounds like an really nice card :-)


Yeah, I guess so... they also have a portal you can use to get money back on purchases you make through their "mall" -- lol so many ways to spend a buck, I tell ya!!

 

I will have no problem at all using a statement credit! Gotta love not having to pay a part of your bills. Smiley Wink

Message 20 of 22