SallieMae UPromise 10% Back on online purchases

[Anonymous]

Long time lurker but I have received a SallieMae World card offer which has me thinking about applying. I am currently a Upromise member with eligible SallieMae account and am familiar with the huge list of retailers who contribute cashback to my linked credit cards. But now the new offer I received says Ill get a $50 bonus after first use, plus an extra 5% on online purchases. It then will receive 4% for dining, 3% for gas (exxon/mobile 20 gal/mo minimum), 2% at the movies and 1% for everything else.

I dont see much about this card and its benefits appear huge to me for someone with an outstanding Salliemae loan. My understanding is if I make an eleigible online purchase (using the upromise link or toolbar) from Best Buy for a $1000 pre tax I receive the following rewards. 5% from BestBuy as a Upromise partner and qualifying online purchase and an additional 5% rewards if using the SallieMae World card. Resulting in $100 in rewards which can be transfered toward my loan ballance as a credit. Terms of service states only a $10 minimum to transfer rewards and I was unable to find anything regarding a tiered points conversion (anything less then 1 to 1) based on the amount of rewards which I had seen mentioned in a previous post.

Anyone have any experience with this card and using rewards towards an outstanding loan? Im really ready to pull the trigger on this even though I was thinking about buying a home in 6 months.

[DaniBananiie]

I'm bumping this because I want to know also.

[DaniBananiie]

Also earning them is quite fun! I earned 4% last night when I took my DH out to a qualifying resturant last night for his birthday.

[Anonymous]

I am also considering the impact of a getting a new card a month before requesting my second 3x cli for my Amex bce. I was successful at 61 days going from 2k to 6k. I was hoping late September to get to 18k! 

[Themanwhocan]

I think you are confusing the SallieMae World Mastercard, and the Upromise World Mastercard.

You can find the upromise card info on barclays web site, and in any case you seem to have quoted from that cards features so I assume you know how to find it. The SallieMae card is at https://www.salliemae.com/landing/WorldCreditCard/

Personally, I've tried to search for local restaurants that are on the Upromise plan, and can't find any that I use (or have heard of). YMMV

[jeffery581]

Maybe 10% but don't forget shipping cost.

[Anonymous]

Themanwhocan

You are right. I did not realize there were two products with different rewards offered by Salliemae and Barclays. I was able to find one restaurant nearby but dining would not be a major rewards category for me. I personally would have more spend in the shopping category.

jeffery581

Good point. I figured I could get around that with Best Buy since most higher priced items like TV's (which im looking to purchase) offer free shipping or will ship to my local store for free. It could be a hassle  from other retailers where a minimum spend is required to get free shipping but really I make the purchases today anyway. With the card I would at least get money back.

I guess the real question for me is whether the Cash back is worthy of shortening my aaoa and an inquiry. Neither is an issue, I think my aaoa is 7 years + and I have 1 inquiry the past 12 months.