New Barclay Targeted Offer for New CC - CashForward

[barthooper]

Spotted this post on Reddit tonight where a member refers to receiving a targeted mailer for this new Barclaycard, with a $500 spent in 3 months $100 bonus. Interestingly the poster mentions having the Sallie Mae. Did anyone else get this recently and is it possible that this is designed to soften the blow of altering Sallie Mae's rewards structure/discontinuing it altogether? I post this at the risk of beating the Sallie Mae dead horse once again but this is at least new information.

[kdm31091]

Like the reddit page says, looks like basically a worse version of a Quicksilver, especially with the 50 dollar redemption threshold. If this is supposed to replace a Sallie card, it seems to be nothing like it at all

[Anonymous]

Well, this is definitely interesting.  The card itself really isn't that special, it is like a Quicksilver but with a FTF, higher redemption requirements,  but also a slightly higher return, but I think it's interesting that it's a targeted offer. To even apply from the link, you need an invite code. Why be so secretive about such a mundane card?

[thelethargicage]

Definitely no Sallie Mae, but a non-cobranded WMC that reports as "Flexible Spending"? I've been looking for one of those...

[Anonymous]

What a hideous card.

[kevinjjc]

I wonder if they will eventually allow product changes to this new card. I have a Barclays NFL Extra Points card that I don't use.

[barthooper]

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@kdm31091 wrote:
Like the reddit page says, looks like basically a worse version of a Quicksilver, especially with the 50 dollar redemption threshold. If this is supposed to replace a Sallie card, it seems to be nothing like it at all

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Like I said, this is all just conjecture but the fact that the poster is a Sallie cardholder makes me suspicious. I don't think it's intended to replace Sallie in terms of functionality but maybe Barclay's attempt to woo Sallie holders after the rewards structure changes? The timing is curious.

[kdm31091]

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@barthooper wrote:

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@kdm31091 wrote:
Like the reddit page says, looks like basically a worse version of a Quicksilver, especially with the 50 dollar redemption threshold. If this is supposed to replace a Sallie card, it seems to be nothing like it at all

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Like I said, this is all just conjecture but the fact that the poster is a Sallie cardholder makes me suspicious. I don't think it's intended to replace Sallie in terms of functionality but maybe Barclay's attempt to woo Sallie holders after the rewards structure changes? The timing is curious.

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Since most people who had a Sallie Mae card were people who frequent credit sites (as the card was never widely advertised), they know enough about rewards to know that this new card is pretty mundane. Therefore, I don't see this wooing many people! But I see what you're saying. There is probably a connection, and this could even be the card Sallie users are converted to someday (if that ever happens).

As jaylau noted it does have a slightly higher return than a QS, but we're talking pennies, nothing substantial, and the redemption requirement is pretty steep for such an average card.

[barthooper]

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@kdm31091 wrote:

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@barthooper wrote:

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@kdm31091 wrote:
Like the reddit page says, looks like basically a worse version of a Quicksilver, especially with the 50 dollar redemption threshold. If this is supposed to replace a Sallie card, it seems to be nothing like it at all

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Like I said, this is all just conjecture but the fact that the poster is a Sallie cardholder makes me suspicious. I don't think it's intended to replace Sallie in terms of functionality but maybe Barclay's attempt to woo Sallie holders after the rewards structure changes? The timing is curious.

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Since most people who had a Sallie Mae card were people who frequent credit sites (as the card was never widely advertised), they know enough about rewards to know that this new card is pretty mundane. Therefore, I don't see this wooing many people! But I see what you're saying. There is probably a connection, and this could even be the card Sallie users are converted to someday (if that ever happens).

As jaylau noted it does have a slightly higher return than a QS, but we're talking pennies, nothing substantial, and the redemption requirement is pretty steep for such an average card.

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Agreed. It would do very little in the way of wooing current Sallie holders, who are definitely aware of their options. 

[CreditCuriosity]

Meh at best.. Only redeming quality if someone knows credit is it is a single TU HP.. Although it appears one has to be invited, why?  FTF and well lets be honest Barclay's watching your every move and possible AA at any time.. Rather take the triple pull for the QS.  $50 redemption is bad as well.  Curious why it isn't open to the public more than anything as it isn't the cat's meow by any means.  Apr for Barclay's at 14.99 isn't bad, but comared to competitors not up to par.