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What's the big deal with the Sallie Mae

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fot1
Established Contributor

Re: What's the big deal with the Sallie Mae

Funny how eveyone gets  protective against thier card of choice.. I have a SM and love it.. Fits my spending patternes just fine.. But then i usuall use about 4-5 credit cards each month depend on what fits best.. I even use my BCE card that is generally hated on here, but it works for me..

Too many to list..
Message 151 of 162
Anonymous
Not applicable

Re: What's the big deal with the Sallie Mae

As a single guy I still drop 300-500,on groceries pretty regularly so $250 wouldn't be near enough. I would probably use it for the gas and Amazon and just use BCP for Groceries.
Message 152 of 162
Open123
Super Contributor

Re: What's the big deal with the Sallie Mae


@fot1 wrote:

Funny how eveyone gets  protective against thier card of choice.. I have a SM and love it.. Fits my spending patternes just fine.. But then i usuall use about 4-5 credit cards each month depend on what fits best.. I even use my BCE card that is generally hated on here, but it works for me..


Well, I think the Sallie Mae is a "best in class" card for what it offers; and, even if a person spends more than the $250/$750 caps, it's still prudent to maximize the initial 5% on this card before allocating spending in the gas, amazon, and groceries to other cards.  All things being equal, nothing beats 5%.

 

Now, as the the BCE, I'm not what astonishes more, that Amex created it, or that people apply and use it.

Message 153 of 162
fot1
Established Contributor

Re: What's the big deal with the Sallie Mae


@Open123 wrote:

@fot1 wrote:

Funny how eveyone gets  protective against thier card of choice.. I have a SM and love it.. Fits my spending patternes just fine.. But then i usuall use about 4-5 credit cards each month depend on what fits best.. I even use my BCE card that is generally hated on here, but it works for me..


Well, I think the Sallie Mae is a "best in class" card for what it offers; and, even if a person spends more than the $250/$750 caps, it's still prudent to maximize the initial 5% on this card before allocating spending in the gas, amazon, and groceries to other cards.  All things being equal, nothing beats 5%.

 

Now, as the the BCE, I'm not what astonishes more, that Amex created it, or that people apply and use it.


See eveyrone hates the BCE..lol  For me it is the best card to pick up groceries when i reach the limit on SM..

Too many to list..
Message 154 of 162
happypill
Valued Contributor

Re: What's the big deal with the Sallie Mae

All my purchases on Amazon, including marketplace purchases, have been 5%.

Message 155 of 162
Open123
Super Contributor

Re: What's the big deal with the Sallie Mae


@fot1 wrote:

@Open123 wrote:

@fot1 wrote:

Funny how eveyone gets  protective against thier card of choice.. I have a SM and love it.. Fits my spending patternes just fine.. But then i usuall use about 4-5 credit cards each month depend on what fits best.. I even use my BCE card that is generally hated on here, but it works for me..


Well, I think the Sallie Mae is a "best in class" card for what it offers; and, even if a person spends more than the $250/$750 caps, it's still prudent to maximize the initial 5% on this card before allocating spending in the gas, amazon, and groceries to other cards.  All things being equal, nothing beats 5%.

 

Now, as the the BCE, I'm not what astonishes more, that Amex created it, or that people apply and use it.


See eveyrone hates the BCE..lol  For me it is the best card to pick up groceries when i reach the limit on SM..


It's certainly possible when taking into consideration a person's tangible and intangible needs/preferences, the BCE may be the best option for groceries.  However, purely from a rewards maximization consideration, there's never a reason to use the BCE for groceries.

Message 156 of 162
kawaiiguy
Established Member

Re: What's the big deal with the Sallie Mae


@happypill wrote:

All my purchases on Amazon, including marketplace purchases, have been 5%.


It seems there may no logic that we might be able to decifer as to how they categorize the amazon purchases:  Out of curiostiy I just checked over this last bill and the 3 "Amazon" purchases are all 5%.  But 2 of the 4 "Amazon Marketplace" ones were 5% and the other 2 were 1%.  And just to add to the randomness... 1 of the "marketplace" ones that was counted as 1% was actually counted AGAINST the 5% when it was returned!  So the original purchase was +1% and then they dinged me -5% on the return...  NO idea what the logic is on categorizing these. 

 

In any case if anyone is curios you can look online on the barclay site & under the transaction info if the category is "Book Stores" then you get your 5%.

 

I love this little secret about this card and hope the never catch on becuase I am an Amazon JUNKIE, I get everything off there, so this card def works for me!


Message 157 of 162
elvistcb
New Member

Re: What's the big deal with the Sallie Mae

For Costco 5%... a Target near me codes as grocery. If you can get your hands on the prepaid red card you can use that at Costco after loading at Target since it is an American Express.

One reason I got the SM is to load at Target as grocery to save 5% on gas at Costco. Ha ha....

But I do wish the limit was higher than $250. I run my non credit card bills (HOA, Utility, Mortgage) through a 1.5% back credit card that loads the prepaid red card. Then you can send a check out for those things through prepaid red card bill pay. I would kill to get 5% on all of those!!

Overall I am happy with SM and was pleasantly suprised to see my TU FICO on my online account. I didn't see that mentioned in the offer when I applied.

SM is amazing...... but prepaid red card is even more amazing......

 

Message 158 of 162
Anonymous
Not applicable

Re: What's the big deal with the Sallie Mae


@elvistcb wrote:

One reason I got the SM is to load at Target as grocery to save 5% on gas at Costco. Ha ha....

But I do wish the limit was higher than $250. I run my non credit card bills (HOA, Utility, Mortgage) through a 1.5% back credit card that loads the prepaid red card. Then you can send a check out for those things through prepaid red card bill pay. I would kill to get 5% on all of those!! 


@Paying gas @ Costco with the Redbird is a pretty cool idea. However, why do you use a 1.5% card for the rest of the realods? There's several 2% on everything cards out there and you can up your game even more using alternative "load methods" giving you effectively close to 4% in total.

Message 159 of 162
CluelessJohn
Contributor

Re: What's the big deal with the Sallie Mae

Well, after 16 pages, I hope OP has an answer.  I'm sure he didn't appreciate the s**t storm that was going to follow.  Some good info though:

 

The multiple SM card play, the Amazon info and how to maximize that with GC's, and the lovely spreadsheets.

Chase Freedom Visa ($15K) Chase Freedom Flex ($15K) Chase Amazon Prime ($9K) USAA Limitless ($20K) AMEX BCE ($30K) CapOne QuickSilver ($15K) Citi DC ($20.5K) Citi Custom Cash ($5K) Discover It ($7.5K) BOA Cash Rewards ($5K) BOA MLB ($13K) USBank Cash+($10K) WF Active Cash ($8K)
FICO 8 ~800
Message 160 of 162
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