Salle Mae Credit Cards

[Anonymous]

Wow! Sallie Mae Bank announced their forth coming launch of three flavors of credit cards as written about on the Doctor of Credit Website. The cards are: Accelerate, Evolve & Ignite. The excitement looms!

The cards will be issued by the Sallie Mae Bank and will offer options on earning around 1.25 points per dollar spent. The Doctor of Credit posting pointed out in today's world we should be getting 2% or more.

This could be our Unicorn for a new rush on cards! Unfortunately, it is not Diner's Club, the Oregon Credit Union "OCCU" Beaver Card or the Citi Forward Visa Cards for those who like to dwell in the legacy card world and certainly the Blispay for those still clinging to it's return .

Card details as set forth on the Doctor of Credit website (note that nothing is showing on the Sallie Mae Bank website):

Sallie Mae has launched three new credit cards. They are currently only available by invitation. You can also add yourself to the waitlist.

• Salle Mae Accelerate This card earns 1.25% everywhere with no limit. It also gives a 25% bonus on any cash back rewards used to pay down your student loans with Sallie Mae.
• Sallie Mae Evolve This card earns 1.25% everywhere with no limit. It also gives a 25% bonus on cash back rewards earned from your top two purchase categories each month.
• Salllie Mae Ignite  This card is meant for students. It earns 1% back on all purchases, and gets a bonus 25%  after making six consecutive on-time payments.

Other card features:

• All 3 cards have no annual fee
• All have an introductory 0% APR of either 6 months or 12 months
• All come with $600 Mastercard cell phone insurance
• All come with free FICO score
• All cards offer the ability to pause/lock your card temporarily

[kdm31091]

There are a lot of gimmicks with these cards, but even with those, they still don't beat a flat 2% card. IMO, nothing to get excited over.

[AverageJoesCredit]

Oh no! John Snow is back

[mongstradamus]

It's too bad they discontinued their 5% gas grocery card was looking at one time in getting that card. These choices don't seem to be as nice

[CreditCuriosity]

Saw this yesterday early and lackluster cards overall to sum it up best.. Not bad for a college student possibly, but most with good/excellent credit have way better options

[gdale6]

Pfft, even a student would not want to waste their time with these, 1.5% unlimited cards are all around these days. I would not bite on any SM unless it operated like the old one did from Barclays.

[FinStar]

Thanks for sharing OP. We'll see if this one gets off the ground given the 3 product offerings.

[CreditMagic7]

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@mongstradamus wrote:
It's too bad they discontinued their 5% gas grocery card was looking at one time in getting that card. These choices don't seem to be as nice

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Indeed IF they just would do a 5% even at some modest spend level.

May or may not bite-Guess will wait and see where they go with it once in circulation a bit first.

[MakingProgress]

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@AverageJoesCredit wrote:
Oh no! John Snow is back

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[CreditCuriosity]

One thing that is interesting about this card vs. others is it isn't issued by Barclays, but by Sallie Mae Bank.  Strange.