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What's the big deal with the Sallie Mae

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Turbobuick
Established Contributor

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


@Anonymous wrote:


Yeah, I'm not sure if it's still the case, but I got mine in Hesperia, CA. I heard they also had them (at the time) in Victorville. If you're near either it's definitely worth the drive. 

 

The 5% CB from loading Sallie Mae + 5% off at Target is pretty amazing I have to say. All I need is a second Sallie Mae. Smiley Happy


Thanks for the headsup. I have a friend in Hesperia that will hook me up.

Message 81 of 162
barbaralee
Established Contributor

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

If I wasn't in the garden I would get  SM card to compliment my Hubby's. As it is, we use his SM card, and then once we reach the cap we switch to my Cash builder... Which is only 1.75%, but we put such a low amount of spend on it it's not too bad. 

 

The real winner for us, like many, is Amazon. We spend a good $3-400/ month on Amazon. We use Amazon the way others use Walmart and Target. My most recent Amazon purchase were sponges. 

 

Sponges. 

 

The $750 cap is more than enough for our Amazon spend, and I have yet to see us get less than 5%. 

Message 82 of 162
Anonymous
Not applicable

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

I think there are few people burned by sallie mae that they won't even apply for it even if they offer 10% cash back.
When my bro was shopping for a new credit card, I suggested him this card, and his reply was "eff that! I'm not carrying anything associated with sallie mae even they gave me 90% cash back!". And he's not even the person who got screwed by sallie mae, I am 😆
Message 83 of 162
Ghoshida
Valued Contributor

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

I am a big fan of this card.

 

Ours is a small family; SO travels quite a bit. So, groceries are generally under $300 p.m. and gas is around $100. Amazon another $100-150. Last year, I racked up about $250 in CB from the Sallie; channeled it through UPromise to the high-yield savings account, and got a 10% bonus on it. I spent about $6,150 on it during the same time for that $275.

 

Let me know if Cash+ came back with groceries as a 5% category and allowed unlimited (or even 1/year and not 1/lifetime) $25 (heck, even $10) bonus for $100 redemption. Smiley Tongue

 

I also have a BCE which I use whenever I run out of the $250 cap on SM; or when (and where) AMEX has some deals. SM is very good with the points calc; it shows up immediately alongside the transaction and also in redeemable points. You don't need to wait for the statement to be generated; OTOH, AMEX takes two statements and sometimes misses out on proper coding of stores.

 

For all those saying it's too small a limit for a family (of say 3-4), why don't you app for two cards? 

Referring to Themanwhocan, you can always apply for two cards! Refer to his wonderful comparison of various CB cards. 

http://ficoforums.myfico.com/t5/Credit-Cards/What-s-the-big-deal-with-the-Sallie-Mae/m-p/3822660/hig...

 

Even if one person is not comfortable applying for two cards, surely you can ask another family member to apply; if you have a larger family, you have more people who can have credit cards! Then divide, two weeks of grocery on card#1, next two weeks on card#2 Smiley Happy I use the barclaycard app to keep track of whether I've come close to or crossed the $250 mark before going to checkout Smiley Very Happy

 

In the end, a generic even 2% card (I have the QS, 1.5%) would net me around $120; my BCE would get me $150 at best. So about $125 short compared to the SMMC. 

 

I love my SMMC for some other reason too. When I got it at the end of 2013, it was my highest limit card ($3k then). I carried balances of about 70-80% on it for about 9 months (0% APR). Obviously, they didn't offer me any CLI during that time; but the moment I cleared out my debt, my CL was raised to $6k in the very next statement. They didn't balance chase me or anything, and I'm pretty happy about that.

 

Yes, it's your choice to decide on which card you love; I've found plenty reasons to be fond of my SMMC. Even though they didn't offer me a referral bonus, I'd love to spread the word around. There's a way to make it work for you one way or another. If it's a lot of hassle for you to go that way, and you're happy with other cards you have, well, I'm happy that you're happy!

 

Oh, and the you-gotta-be-in-the-know factor. Barclaycard doesn't advertise this card on their website. You need to follow these boards to get to even know about it Smiley Very Happy

Message 84 of 162
Callandra
Valued Contributor

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


@Ghoshida wrote:

 

 

Oh, and the you-gotta-be-in-the-know factor. Barclaycard doesn't advertise this card on their website. You need to follow these boards to get to even know about it Smiley Very Happy


lol, I sort of like that too =X I like secrets/backdoor kinds of things!

 

Sallie Mae is a good kept secret (probably for the better..I don't want it to get too popular and then it's nerfed/cancelled although if Priceline is any indication, existing cardholders might get grandfathered in). 

 

Barclays is kind of a well kept secret; I've never seen another Barclaycard in the wild (even when I was a retail cashier; most credit cards I saw were ones issued by either Amex or Chase). 

Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500

Last HP: 9/27/2015
Message 85 of 162
Ghoshida
Valued Contributor

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


@Callandra wrote:

@Ghoshida wrote:

 

 

Oh, and the you-gotta-be-in-the-know factor. Barclaycard doesn't advertise this card on their website. You need to follow these boards to get to even know about it Smiley Very Happy


lol, I sort of like that too =X I like secrets/backdoor kinds of things!

 

Sallie Mae is a good kept secret (probably for the better..I don't want it to get too popular and then it's nerfed/cancelled although if Priceline is any indication, existing cardholders might get grandfathered in). 

 

Barclays is kind of a well kept secret; I've never seen another Barclaycard in the wild (even when I was a retail cashier; most credit cards I saw were ones issued by either Amex or Chase). 


A few of my friends have started asking about the SMMC; I saw another SMMC being used at my neighborhood Randalls. Maybe they're catching up Smiley Happy

 

So far, I've got nothing bad about Barclays. Chase, OTOH, is the bank that has my direct deposit, but won't budge with my flimsy Freedom limit. Anyhow, everybody's got their share of good cards and not-so-good. I've read quite a few Barclay-boo stories; maybe they're not so good across the board.

Message 86 of 162
Callandra
Valued Contributor

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


@Ghoshida wrote:

@Callandra wrote:

@Ghoshida wrote:

 

 

Oh, and the you-gotta-be-in-the-know factor. Barclaycard doesn't advertise this card on their website. You need to follow these boards to get to even know about it Smiley Very Happy


lol, I sort of like that too =X I like secrets/backdoor kinds of things!

 

Sallie Mae is a good kept secret (probably for the better..I don't want it to get too popular and then it's nerfed/cancelled although if Priceline is any indication, existing cardholders might get grandfathered in). 

 

Barclays is kind of a well kept secret; I've never seen another Barclaycard in the wild (even when I was a retail cashier; most credit cards I saw were ones issued by either Amex or Chase). 


A few of my friends have started asking about the SMMC; I saw another SMMC being used at my neighborhood Randalls. Maybe they're catching up Smiley Happy

 

So far, I've got nothing bad about Barclays. Chase, OTOH, is the bank that has my direct deposit, but won't budge with my flimsy Freedom limit. Anyhow, everybody's got their share of good cards and not-so-good. I've read quite a few Barclay-boo stories; maybe they're not so good across the board.


My boyfriend got a SM because of me (and he got his first!), lol. 

 

Meh, I take any boo stories with a grain of salt; everyone has good and bad experiences with any company (bank or not). I just take things as they come; I've never had a problem with either Chase or Barclays (I also do all my banking with Chase) although granted I never call CS either. I'm one of the quiet ones. Smiley LOL

Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500

Last HP: 9/27/2015
Message 87 of 162
mitchblue
Valued Contributor

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


@Gunnar419 wrote:

@mitchblue wrote:

@Themanwhocan wrote:

@mitchblue wrote:

@Anonymous wrote:

The 10k limit they just gave me is a HUGE deal.

Smiley Indifferent

 

but in all seriousness, Its a GREAT card for single people. families would blow the caps instnatnly 


Groceries maybe but $250 for gas is quite a bit, maybe not the person who drives a long way to work. Add in $750 on Amazon it's a pretty nifty card.

 

Btw, I love those graphs posted above.

 

P.S. On a side note, can you actually own 2 Sallie Mae's?


Yes. Just look in my signature. 

 

I just didn't apply for any new cards for a while, and used my Barclay cards well, and then just applied for the same card again.

 

It's easy-peasy-lemon-squeezy ...


Thank you much. I could see a 2nd one as my next card..


You can own a second Sallie Mae WITH QUALIFICATIONS. If you app for a second one and your app requires manual processing of any sort, as mine did (in my case, address verification), they'll deny you because their official policy is that you can't have two of the same product. If you can get instant online approvals, then you can probably get a second SM.

 

I was denied a second Sallie Mae, but it worked out okay for me anyhow because they used the same HP to give me a 3.3x CLI on my first and only Sallie Mae. Smiley Happy


That makes sense, ironically when I got my current Sallie Mae..2 months ago I needed to verify my address and stuff..Thanks.

FICO® 8 Scores 821 FICO® 9 Equifax 826 (Updated 02-7-23)
Message 88 of 162
Anonymous
Not applicable

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

To the person that asked if we have large families why not apply for two cards: I feel like having two of the same cards (or anything for that matter) is redundant.
Message 89 of 162
mitchblue
Valued Contributor

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


@Anonymous wrote:
To the person that asked if we have large families why not apply for two cards: I feel like having two of the same cards (or anything for that matter) is redundant.

2 spouses, 2 cards give you $500 for Gas and Groceries and more for Amazon/Books. For no AF, seems like a big win..That's if you'd use the card that much..

FICO® 8 Scores 821 FICO® 9 Equifax 826 (Updated 02-7-23)
Message 90 of 162
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