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Regular Contributor
NikoD
Posts: 148
Registered: ‎02-25-2014
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Sallie Mae platinum to world?

If you get the platinum version (and less than $5000 CL) of the Sallie Mae card, will they let you upgrade later to the world version when the CL gets increased to above $5000?

Super Contributor
longtimelurker
Posts: 6,186
Registered: ‎04-22-2013
0

Re: Sallie Mae platinum to world?


NikoD wrote:

If you get the platinum version (and less than $5000 CL) of the Sallie Mae card, will they let you upgrade later to the world version when the CL gets increased to above $5000?


Barclays isn't known to be great at this, frequently the card you start with is the one you keep (although CL will go up).  I had that issue with the Rewards card I used to have.

 

But.... Sallie Mae is all about the reward structure (the card is guaranteed to impress nobody when you whip it out!) and the rewards for the Plat and World are the same.  Only difference would be the World enhancements offered by M/C, whose value is pretty close to 0 in most cases.

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi TY Preferred, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 841 (Jul)
Valued Contributor
Themanwhocan
Posts: 1,467
Registered: ‎04-04-2013
0

Re: Sallie Mae platinum to world?

You can wait 6 months, don't apply for anything else, let your credit score improve, and then apply for another Sallie Mae card.

 

After 6 months my First Sallie Mae is still at $1,600 but they just granted me a $10,000 Sallie Mae World Mastercard. And having 2 Sallies solves any spending cap issues... My TU score apparently hit 740 just before I applied.


Super Contributor
longtimelurker
Posts: 6,186
Registered: ‎04-22-2013
0

Re: Sallie Mae platinum to world?


Themanwhocan wrote:

 And having 2 Sallies solves any spending cap issues... 


Well, doubles the spending cap!  For those exhausting BCP/BCE/ED/EDP grocery caps, two SM just equals one of those.

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi TY Preferred, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 841 (Jul)
Regular Contributor
NikoD
Posts: 148
Registered: ‎02-25-2014
0

Re: Sallie Mae platinum to world?

Thanks for your advice guys. I'm a bit confused by my recent (last night) approval. My income isn't great but I thought that I would at least get $5000 and the World. My income isn't high (but over $30,000 which I've heard is needed for the similar Visa Signature cards), my utilization is 1%, I've had CCs since 1997 with limits far above $5000, Discover says my TU 08 FICO is 828 and they pulled TU which has no inquiries. I had just gotten an Amex but it hadn't reported yet and the inquiry for it wasn't even on TU. I set up my Sallie Mae account last night and saw that my APR for my new card is 22.99%:smileysurprised: This is the worst offered for this card! The only thing unusual about my file is that I only have 2 open accounts reporting (CCs from 1997 and 1998) and only 1 closed account from 6 years ago. This isn't much but I thought Barclays doesn't like to see a lot of other cards anyway. Any insights? When I get the card do you think I should call and try for a better APR and higher limit or just suck it up and wait it out for awhile? 

Super Contributor
longtimelurker
Posts: 6,186
Registered: ‎04-22-2013
0

Re: Sallie Mae platinum to world?

Low limits from Barclays aren't all that uncommon (don't know which segment gets impacted), when I got my Rewards it was my lowest limit for 25 years, and a 1/4 of the next lowest.   And Sallie Mae is currently my lowest.

 

I would be a little more concerned about the APR, not so much in case  you may have to carry a balance but because it indicates that they found something they didn't like.  Check your report again.

 

For recon, Barclays has a good reputation on changing decline to approval, and some movement in CL.  Don't know about APR changes.

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi TY Preferred, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 841 (Jul)
Valued Contributor
Gunnar419
Posts: 1,154
Registered: ‎01-23-2013
0

Re: Sallie Mae platinum to world?


longtimelurker wrote:

Low limits from Barclays aren't all that uncommon (don't know which segment gets impacted), when I got my Rewards it was my lowest limit for 25 years, and a 1/4 of the next lowest.   And Sallie Mae is currently my lowest.

 

I would be a little more concerned about the APR, not so much in case  you may have to carry a balance but because it indicates that they found something they didn't like.  Check your report again.

 

For recon, Barclays has a good reputation on changing decline to approval, and some movement in CL.  Don't know about APR changes.


Barclays Sallie Mae also gave me my lowest CL by far even though I had a score in the high 700s at the time. Refused to raise it on recon, too. I got an auto-CLI at 6 months but nothing at one year.

 

At least they also gave me their lowest APR.

 

What makes me laugh is the balance transfer checks they keep sending every month. Great terms. But oh Barclays, how am I supposed to transfer anything to you when your CL is 1/5th that of my highest and 1/3rd that of my next lowest CL card?

 

Regular Contributor
NikoD
Posts: 148
Registered: ‎02-25-2014
0

Re: Sallie Mae platinum to world?

I just pulled my TU and EX reports about a month or so ago so I'm completely baffled. I also just signed up for Credit Karma a few days ago and nothing seems amiss. Maybe the APR is incorrect online and when I get the card it will say something different and update online when I activate the card?

Established Contributor
Dw4250
Posts: 560
Registered: ‎03-04-2013
0

Re: Sallie Mae platinum to world?

I also have the Sallie Mae Platinum.  I wouldn't worry about it too much, unless you really want that "World" stamp status on your card. :smileywink:

 

From a rewards standpoint, it really does not make a difference whether you have Platinum or World.  It's all the same.  Actually all you really need with the SM is a CL of $1250 to maximize the benefits every month...

Valued Contributor
Themanwhocan
Posts: 1,467
Registered: ‎04-04-2013
0

Re: Sallie Mae platinum to world?


Dw4250 wrote:

I also have the Sallie Mae Platinum.  I wouldn't worry about it too much, unless you really want that "World" stamp status on your card. :smileywink:

 

From a rewards standpoint, it really does not make a difference whether you have Platinum or World.  It's all the same.  Actually all you really need with the SM is a CL of $1250 to maximize the benefits every month...


But you have the image of a Sallie Mae World in your signature...



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