Sallie Mae - talk me down or help me pull the trigger

[longtimelurker]

Actually, that it was I had read, but now I can't find evidence for that.  Looks like when Barclays took over the card, the limits were as today

[Themanwhocan]

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@longtimelurker wrote:

Actually, that it was I had read, but now I can't find evidence for that.  Looks like when Barclays took over the card, the limits were as today

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Yep, it was nerfed a tad, they has a combined Grocery/Gas $500 limit, etc.

http://www.fatwallet.com/forums/finance/1129823/

[sergi0wned]

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@Gunnar419 wrote:

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@Johnnyblaze1986 wrote:

Congrats! I love my sallie mae, and I love the fact that rewards point post as soon as the transaction post to my account.

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Congrats, OP and especially on the nice initial CL and best APR!

I also love my Sallie Mae for reasons others have said -- perfect rewards for a single person's everyday needs, super easy to use website, instant reward points, and that FICO score. (BTW, Barclays told me that the score is updated either every 10 weeks or when something major changes, but specifically they mean things like inquiries and new credit, not just a score change from util. YMMV.)

My biggest worry about the Barclays Sallie Mae is that it's so good it's bound to get nerfed!

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Thank you!

It should be perfect for me as a single guy. Could you talk about the instant reward points a bit more? That sounds amazing.

And the nerfing is my biggest fear! That's another reason I decided to apply now - if they do nerf it later, hopefully I'll be able to be grandfathered in like I was with my Citi Forward.

[Themanwhocan]

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@Gunnar419 wrote:

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@Johnnyblaze1986 wrote:

Congrats! I love my sallie mae, and I love the fact that rewards point post as soon as the transaction post to my account.

---

Congrats, OP and especially on the nice initial CL and best APR!

I also love my Sallie Mae for reasons others have said -- perfect rewards for a single person's everyday needs, super easy to use website, instant reward points, and that FICO score. (BTW, Barclays told me that the score is updated either every 10 weeks or when something major changes, but specifically they mean things like inquiries and new credit, not just a score change from util. YMMV.)

My biggest worry about the Barclays Sallie Mae is that it's so good it's bound to get nerfed!

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The Priceline.com card got nerfed last year, but the rewards were not nerfed for those of us who already have the card. And unlike last year, they are actually listing the Sallie Mae rewards card on the salliemae.com web site. So, I'm fairly confident for the immediate future.

[Gunnar419]

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@sergi0wned wrote:

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@Gunnar419 wrote:

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@Johnnyblaze1986 wrote:

Congrats! I love my sallie mae, and I love the fact that rewards point post as soon as the transaction post to my account.

---

Congrats, OP and especially on the nice initial CL and best APR!

I also love my Sallie Mae for reasons others have said -- perfect rewards for a single person's everyday needs, super easy to use website, instant reward points, and that FICO score. (BTW, Barclays told me that the score is updated either every 10 weeks or when something major changes, but specifically they mean things like inquiries and new credit, not just a score change from util. YMMV.)

My biggest worry about the Barclays Sallie Mae is that it's so good it's bound to get nerfed!

---

Thank you!

It should be perfect for me as a single guy. Could you talk about the instant reward points a bit more? That sounds amazing.

And the nerfing is my biggest fear! That's another reason I decided to apply now - if they do nerf it later, hopefully I'll be able to be grandfathered in like I was with my Citi Forward.

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The instant reward points are a great feature. Most cards make you wait for your statement before rewarding you any cashback points you've earned. Some might even make you wait two statements. The Barclays Sallie Mae card gives you your points the moment each individual transaction posts. Once you've got 2500 points (worth $25), you can get a statement credit, put the cashback toward a student loan, or one or two other options.

After you've earned $25 in points, you can also apply any amount of points that you have. You don't have to wait until you have increments of $25 or $50 as you do with some cards. If you have 3427 points, you can "spend" $34.27 on a statement credit or a student loan payment. If you have 4629 points, you can "spend" $46.29. Very flexible!

I hope all that made sense. If not, let me know and I'll try to explain better.

[Gunnar419]

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@Themanwhocan wrote:

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@Gunnar419 wrote:

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@Johnnyblaze1986 wrote:

Congrats! I love my sallie mae, and I love the fact that rewards point post as soon as the transaction post to my account.

---

Congrats, OP and especially on the nice initial CL and best APR!

I also love my Sallie Mae for reasons others have said -- perfect rewards for a single person's everyday needs, super easy to use website, instant reward points, and that FICO score. (BTW, Barclays told me that the score is updated either every 10 weeks or when something major changes, but specifically they mean things like inquiries and new credit, not just a score change from util. YMMV.)

My biggest worry about the Barclays Sallie Mae is that it's so good it's bound to get nerfed!

---

The Priceline.com card got nerfed last year, but the rewards were not nerfed for those of us who already have the card. And unlike last year, they are actually listing the Sallie Mae rewards card on the salliemae.com web site. So, I'm fairly confident for the immediate future.

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Thanks, themanwhocan. That's encouraging to hear.

[sergi0wned]

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@Gunnar419 wrote:

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@sergi0wned wrote:

---

@Gunnar419 wrote:

---

@Johnnyblaze1986 wrote:

Congrats! I love my sallie mae, and I love the fact that rewards point post as soon as the transaction post to my account.

---

Congrats, OP and especially on the nice initial CL and best APR!

I also love my Sallie Mae for reasons others have said -- perfect rewards for a single person's everyday needs, super easy to use website, instant reward points, and that FICO score. (BTW, Barclays told me that the score is updated either every 10 weeks or when something major changes, but specifically they mean things like inquiries and new credit, not just a score change from util. YMMV.)

My biggest worry about the Barclays Sallie Mae is that it's so good it's bound to get nerfed!

---

Thank you!

It should be perfect for me as a single guy. Could you talk about the instant reward points a bit more? That sounds amazing.

And the nerfing is my biggest fear! That's another reason I decided to apply now - if they do nerf it later, hopefully I'll be able to be grandfathered in like I was with my Citi Forward.

---

The instant reward points are a great feature. Most cards make you wait for your statement before rewarding you any cashback points you've earned. Some might even make you wait two statements. The Barclays Sallie Mae card gives you your points the moment each individual transaction posts. Once you've got 2500 points (worth $25), you can get a statement credit, put the cashback toward a student loan, or one or two other options.

After you've earned $25 in points, you can also apply any amount of points that you have. You don't have to wait until you have increments of $25 or $50 as you do with some cards. If you have 3427 points, you can "spend" $34.27 on a statement credit or a student loan payment. If you have 4629 points, you can "spend" $46.29. Very flexible!

I hope all that made sense. If not, let me know and I'll try to explain better.

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Thanks! That made perfect sense, I appreciate your explanation. 

Sounds like a great rewards program too. I'm still waiting on my Freedom sign up bonus and my Amex points to post, so it'll be nice to get instanteous results, especially as I have to buy groceries for myself this summer... hopefully seeing the instant credit will help take the sting out of a young man's grocery bill! haha