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rated:
It'd be interesting to see. Amazon is categorized as a bookstore for Citi Forward VISA. This is a VISA, uses the VISA network, I don't know why it wouldn't be categorized as a bookstore.

rated:
I applied last Tuesday night and after the application I got something along the lines of: "You will receive a response from us in 7-10 days. Your reference number is: XXXXXXX"

I haven't heard anything from them yet. I'd love to get this card, it'd compliment my Penfed 5% gas card so I could have a 5% groceries card as well. Does anyone know anything about the generic 7-10 day response? I'm guessing they'll send me a denial letter... (I haven't heard anything from them to date)

rated:
Scratch that actually, I got a letter in today's mail I didn't see that said I was denied due to lack of income. I didn't take a hard credit inquiry, and I realize that I had mis-proportioned some of my "annual income" into "other income", which is the reason they denied without thinking twice. I reapplied using corrected numbers, and got the message to call in to them. That's a little better. At least now I know they're going to look at me lol

rated:
Since everyone's been asking if Amazon is classified as a Bookstore, and I'm curious too since the 5% would beat the Amazon Visa 3% Cash Back, I did some searching, the only thing i can find is this website:
http://visa.via.infonow.net/locator/usa/supplier/ListLoadAction....
Which seems to be a Merchant Code lookup for Visa, and in it Amazon can be classified as one of many categories. Whether this means Amazon breaks up what you purchase into different categories I do not know. But searching for Amazon.com, Seattle, Washington, will show you its various codes.

rated:
tenken said:   just an update, i was approved for the 5% gas/groceries/books card after already having been approved for the 2% flat Cash Back sallie mae card

Just applied for the 5% (already have the 2% card).

Huge Thanks!

rated:
For any student (over 21) who is thinking of applying:

They were pretty strict with my annual income amount. They were unable to consider scholarships or grants as annual income (which is unfortunate but technically accurate ), and they were unable as well to consider my off semester internship money as annual income either. Which basically left me down to 0.

I also asked about potentially including my parent's income as Household income (live at home with parents so no rent), but Household income only is supposed to include spouses (again, according to what they told me, but I can see why this is likely). He told me I could reapply with my parent as a cosigner, but I doubt I will because I wouldn't want them to be held liable for anything. Was really hoping to get this to complement my Penfed 5% gas, but such is life. Thanks for the information everyone.

rated:
There's no one call me after almost 2 weeks. Today, I just got a letter states that I was approved along w/ my credit score. I'm not sure if this is the right company I want to deal with.

rated:
heads up in case it happens to anyone else - when clicked to submit app via firefox, it just refreshed the whole screen and made all the fields entered blank, did not get any sort of status, so did it again, same result. tried it again with IE and 3rd time finally got the call them message with Reference #... when I called they said each time it did go through, and it has happened to others.

rated:
FatMoneyClip said:   I have not applied for a card in over a year while I have been waiting for a short sale to close. Now that my purchase went through, this is the first card I have applied for. After submitting my application, I had to answer 3-4 security questions: previous streets I have lived on, bank my mortgage is with, credit union my last car loan was with in 2002 (almost could not remember this). After answering all the questions, I got this response:

"Thank you for applying for a Sallie Mae credit card. Your application is currently being reviewed, and we require additional information from you to finalize our decision. Please contact us at 877-903-7968 at your earliest convenience. We are here Monday through Thursday 8 a.m. to 8 p.m. ET and Friday 8 a.m. to 5 p.m. Your Application Reference # is ###############"

I guess I will be calling on Monday.


So I called on Monday and I was told that I was approved. Then today, I got the following e-mail message:

"Dear FatMoneyClip,
Please call us toll free at 877-703-5246 ext. 57220 to provide some additional information required to continue processing your application. We’re here for you Monday – Friday from 8 a.m. to 5 p.m., Eastern Time.
We appreciate the opportunity to serve you, and look forward to speaking with you soon.
Sincerely,
Sallie Mae Fraud Department"

I guess the comments about the applications having to get approved by two separate departments are true.

rated:
applied online, got the call us back msg, called and said they have nothing to ask me..few days later was notified that i got approved for $15k credit limit, 765 TRANSUNION..good luck

rated:
Got my card yesterday. Here's the skinny:

5% rewards up to $500 total for groceries and gas per month
5% rewards up to $1000 total for books per month
1% on everything else
No cap on earnable rewards per year

Awards can be redeemed by calling in or through the Sallie Mae website. The pamphlet states that rewards may take 6-8 weeks to post/arrive.
You can redeem for a statement credit OR for a check. Rewards only redeemable in $25 increments.

Sallie Mae by default sells your personal information to affiliates. You can opt out of SOME (but not all) of this information sale by calling a toll-free number provided in one of the pamplets they send.

Credit card benefits are sparse! There's a 90-day new product protection against damage and theft, some sort of crappy-looking rental car insurance benefit, and $60 a year roadside assistance.

One plus is that the website will allow you to setup statement balance autopay each month - a feature which is missing from one of my HSBC credit cards.

All in all, it should work well for people that buy less than $500 in groceries per month. If you want to buy gas, get a Penfed card. If you want to buy books, get a Citi Forward. Both of these cards are superior to the Sallie Mae card. If you buy more than $500 in groceries each month, look into the AMEX 6% cards as they may offer better value.

rated:
bobfather said:   
To redeem rewards you must call in.

Wow....that's a deal breaker for me......

rated:
ShakuniMama said:   bobfather said:   
To redeem rewards you must call in.

Wow....that's a deal breaker for me......


This. I have multiple 3% EDP cards (that will stmt credit it with a few clicks), the extra 2% for us as a couple who spends just a few hundred a month on EDP is so not worth screwing with customer service over the phone.
On to the next one....

rated:
MaddHatter said:   ShakuniMama said:   bobfather said:   
To redeem rewards you must call in.

Wow....that's a deal breaker for me......


This. I have multiple 3% EDP cards (that will stmt credit it with a few clicks), the extra 2% for us as a couple who spends just a few hundred a month on EDP is so not worth screwing with customer service over the phone.
On to the next one....


I see no problem with this unless it's a headache. If it is, then of course I'll switch to AMEX blue. But I'll give it a try.

Lack of benefits is not a problem. I'll use it only for groceries/gas. Perhaps for Amazon stuff that I don't need a warranty for. For everything else, I'll use a signature VISA/world mastercard/AMEX.

rated:
Currently less incentive, almost too small to bother if you have Penfed for gas and Fidelity AMEX for everything else. [www.salliemae.com/credit-cards/cashback/]

rated:
Anyone gotten the card yet? I got a letter dated the 15th that I was approved and it was coming, never got it.

rated:
i got it. a cheap looking blue card. however, all the details/bonuses r spelled out in the accompanying literature. no confusion or guess work. pretty nice on those.

rated:
Have anybody tried to add an authorized user after signing up for online access? It is the most minimalistic site I’ve ever experienced with a finance company! There is no easy way to add another user or do most of the other things AMEX or CITI give you with a single click, SM wants you to call to talk to you.

rated:
Got the card today, 8k limit, more than any other card I own... lol ty sallie mae, 1 year free expenses and a 100 dollar credit on top of 5% groceries and gas.

rated:
What does "1 year free expenses" mean?

justacog

rated:
justacog said:   What does "1 year free expenses" mean?

justacog


0% APR for a year on the card... I guess I phrased that awkwardly

rated:
ShakuniMama said:   bobfather said:   
To redeem rewards you must call in.

Wow....that's a deal breaker for me......


As an update, I just checked the website (got my card today). You can, in fact, redeem online. They have options for $25, $50, etc... as statement credit or check.

rated:
Tried applying today and when I called was told I would need a cosigner because I am a homemaker. I saw earlier that a student was rejected for having no income, but I thought I would be okay since my spouse has income. Guess I will be trying again in his name.

rated:
dblevitan said:   ShakuniMama said:   bobfather said:   
To redeem rewards you must call in.

Wow....that's a deal breaker for me......


As an update, I just checked the website (got my card today). You can, in fact, redeem online. They have options for $25, $50, etc... as statement credit or check.


You're right! The rewards page is setup very strangely. It is possible to redeem online if you drill down through the menus. You can still redeem only in $25 increments and the rewards can take up to 45 days to post to your account or arrive in your mail. I'll edit my prior summary.

rated:
...Just got my card after a little over 2 weeks.

10/8- Applied, got message to call for verification
10/10- called but they said someone will call back within 2 days
10/13- called again b/c no one calls, was told the application was approved but someone from the security department will call within 3 days to do the final approval
10/21- no one calls but I got a letter w/ a credit score
10/24- got the card

rated:
Would anyone that was approved mind posting credit scores? How strict are they?

rated:
10/18/2011 - applied, called to provide addl info, no addl info needed.
10/24/2011 - finance confirmation call
10/27/2011 - received following e-mail

Dear XXXXXXXX,

Congratulations! You've been approved for the Sallie Mae® Cash Back Visa® Card, the card that's simple, sensible, and rewarding. As soon as your card arrives, you can start earning rewards on every purchase you make to help pay down your eligible Sallie Mae student loan.1
$100 bonus cash reward after you purchase $500 within the first 90 days1
5% Cash Back on gas, groceries and books (subject to monthly maximum)1
1% Cash Back on other purchases
Plus, take advantage of our 0% introductory APR on purchases for 12 months. After the introductory period ends, your standard purchase rate will apply.2

Your Sallie Mae Cash Back Visa Card should arrive within 7 to 10 business days. Once you've received it, be sure to activate it at 877-330-4455.


THIS EMAIL MESSAGE CONTAINS AN ADVERTISEMENT OR SOLICITATION.

Legal

Privacy | Terms of Use

1 5% Gas and Grocery bonus category rewards are earned on the first $500 total combined net monthly purchases in those two categories. 5% Books bonus category rewards are earned on the first $1000 total net monthly purchases. After that, earn the same 1% you earn on other purchases for gas, groceries and books. Make at least $500 in card net purchases within the first 90 days of card membership to earn $100 bonus cash reward. Redeem your rewards for Cash Back or to help pay down your eligible Sallie Mae student loans after earning only $25 in rewards. Rewards used to pay down student loans reduce the total amount owed on the loan but are not applied to payments due. Your participation in the rewards program may end if your credit card account is inactive for 24 or more months. Refer to your Cardmember Agreement and Rewards Program Rules for fees, rewards disclosures, limitations, and other important information.

2 0% introductory offer applies only to purchases completed within 12 months of account opening. The introductory rate will apply for the first 12 months after account opening, after which your standard purchase rate (11.99% to 15.99% variable APR) will apply.

Make sure our emails make it to your inbox by adding SallieMae@creditcard.salliemae.com to your address book. Instructions on how to add us can be found here.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK THE SALLIE MAE WEBSITE TO OBTAIN THE MOST UP-TO-DATE PRODUCT INFORMATION.

rated:
Follow up dumb question... I've never taken advantage of these 0% APR deals on credit cards.

For 0% APR periods on credit cards, do you still have to make the minimum monthly payment, or can you just shelve the whole monthly statement for (0% APR period minus 1 month) then pay the whole thing off?


Thanks All,
justacog

rated:
justacog said:   Follow up dumb question... I've never taken advantage of these 0% APR deals on credit cards.

For 0% APR periods on credit cards, do you still have to make the minimum monthly payment, or can you just shelve the whole monthly statement for (0% APR period minus 1 month) then pay the whole thing off?


Thanks All,
justacog


You have to make the minimum payment unless you don't care about late fees and your credit score.

rated:
they will also yank the 0% the first time you miss a min payment. They used to backcharge you interest too, but I think they can't do that anymore. (ed: I mean some CC's used to).

rated:
Applied and was asked to call in. Called number, they looked over my credit report and approved over the phone. 10k limit.

rated:
libralibra said:   surprised no one mentioned this:

Annual Percentage Rate (APR) for Purchases 0% introductory APR, for 12 months from date of account opening.



There's a balance transfer fee: "Either $10 or 5% of the amount of each transfer, whichever is greater."

It doesn't seem to be waived for the first transfer(s).

rated:
My application went through. I would have preferred the Pen Fed 5% gas (unlimited gas purchases) card, but they won't let me join their damn credit union for whatever reason. Oh well, have to settle for just $500 per month.

rated:
FatMoneyClip said:   So I called on Monday and I was told that I was approved. Then today, I got the following e-mail message:
"Dear FatMoneyClip,
Please call us toll free at 877-703-5246 ext. 57220 to provide some additional information required to continue processing your application. We’re here for you Monday – Friday from 8 a.m. to 5 p.m., Eastern Time.
We appreciate the opportunity to serve you, and look forward to speaking with you soon.
Sincerely,
Sallie Mae Fraud Department"

I guess the comments about the applications having to get approved by two separate departments are true.

I called Sallie Mae a second time as requested in the e-mail (this time the fraud department). They asked me to fax them a copy of a bill because I had changed address in the last couple months. I faxed the bill and a couple days later, I got this e-mail message:


"Dear FatMoneyClip,
Congratulations! You've been approved for the Sallie Mae® Cash Back Visa® Card, the card that's simple, sensible, and rewarding. As soon as your card arrives, you can start earning rewards on every purchase you make to help pay down your eligible Sallie Mae student loan.1

-$100 bonus cash reward after you purchase $500 within the first 90 days1
-5% Cash Back on gas, groceries and books (subject to monthly maximum)1
-1% Cash Back on other purchases

Plus, take advantage of our 0% introductory APR on purchases for 12 months. After the introductory period ends, your standard purchase rate will apply.2

Your Sallie Mae Cash Back Visa Card should arrive within 7 to 10 business days. Once you've received it, be sure to activate it at 877-330-4455.


1. 5% Gas and Grocery bonus category rewards are earned on the first $500 total combined net monthly purchases in those two categories. 5% Books bonus category rewards are earned on the first $1000 total net monthly purchases. After that, earn the same 1% you earn on other purchases for gas, groceries and books. Make at least $500 in card net purchases within the first 90 days of card membership to earn $100 bonus cash reward. Redeem your rewards for Cash Back or to help pay down your eligible Sallie Mae student loans after earning only $25 in rewards. Rewards used to pay down student loans reduce the total amount owed on the loan but are not applied to payments due. Your participation in the rewards program may end if your credit card account is inactive for 24 or more months. Refer to your Cardmember Agreement and Rewards Program Rules for fees, rewards disclosures, limitations, and other important information.

2. 0% introductory offer applies only to purchases completed within 12 months of account opening. The introductory rate will apply for the first 12 months after account opening, after which your standard purchase rate (11.99% to 15.99% variable APR) will apply.

Make sure our emails make it to your inbox by adding SallieMae@creditcard.salliemae.com to your address book. Instructions on how to add us can be found here.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK THE SALLIE MAE WEBSITE TO OBTAIN THE MOST UP-TO-DATE PRODUCT INFORMATION."



Let's see what comes in the mail. This will be my new card for grocery purchases. PenFed will still be my card for the gas purchases (since the rebate comes automatically each month).

rated:
FatMoneyClip said:   So I called on Monday and I was told that I was approved. Then today, I got the following e-mail message:
"Dear FatMoneyClip,
Please call us toll free at 877-703-5246 ext. 57220 to provide some additional information required to continue processing your application. We’re here for you Monday – Friday from 8 a.m. to 5 p.m., Eastern Time.
We appreciate the opportunity to serve you, and look forward to speaking with you soon.
Sincerely,
Sallie Mae Fraud Department"

I guess the comments about the applications having to get approved by two separate departments are true.

I called Sallie Mae a second time as requested in the e-mail (this time the fraud department). They asked me to fax them a copy of a bill because I had changed address in the last couple months. I faxed the bill and a couple days later, I got this e-mail message:


"Dear FatMoneyClip,
Congratulations! You've been approved for the Sallie Mae® Cash Back Visa® Card, the card that's simple, sensible, and rewarding. As soon as your card arrives, you can start earning rewards on every purchase you make to help pay down your eligible Sallie Mae student loan.1

-$100 bonus cash reward after you purchase $500 within the first 90 days1
-5% Cash Back on gas, groceries and books (subject to monthly maximum)1
-1% Cash Back on other purchases

Plus, take advantage of our 0% introductory APR on purchases for 12 months. After the introductory period ends, your standard purchase rate will apply.2

Your Sallie Mae Cash Back Visa Card should arrive within 7 to 10 business days. Once you've received it, be sure to activate it at 877-330-4455.


1. 5% Gas and Grocery bonus category rewards are earned on the first $500 total combined net monthly purchases in those two categories. 5% Books bonus category rewards are earned on the first $1000 total net monthly purchases. After that, earn the same 1% you earn on other purchases for gas, groceries and books. Make at least $500 in card net purchases within the first 90 days of card membership to earn $100 bonus cash reward. Redeem your rewards for Cash Back or to help pay down your eligible Sallie Mae student loans after earning only $25 in rewards. Rewards used to pay down student loans reduce the total amount owed on the loan but are not applied to payments due. Your participation in the rewards program may end if your credit card account is inactive for 24 or more months. Refer to your Cardmember Agreement and Rewards Program Rules for fees, rewards disclosures, limitations, and other important information.

2. 0% introductory offer applies only to purchases completed within 12 months of account opening. The introductory rate will apply for the first 12 months after account opening, after which your standard purchase rate (11.99% to 15.99% variable APR) will apply.

Make sure our emails make it to your inbox by adding SallieMae@creditcard.salliemae.com to your address book. Instructions on how to add us can be found here.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK THE SALLIE MAE WEBSITE TO OBTAIN THE MOST UP-TO-DATE PRODUCT INFORMATION."



Let's see what comes in the mail. This will be my new card for grocery purchases. PenFed will still be my card for the gas purchases (since the rebate comes automatically each month).

rated:
Approved, 798 TransUnion (based on the letter they sent, they only used TU). They gave me a 15k limit.

rated:
Frolet said:   Approved, 798 TransUnion (based on the letter they sent, they only used TU). They gave me a 15k limit.

Ditto, but only got a 7k limit. I think the limit is more based off the HHI. Did you put down a 6 figure digit?

rated:
my experience is NOTHING like all you guys...

i got the: Thank you for applying for a Sallie Mae credit card. Your application is currently being reviewed, and we require additional information from you to finalize our decision. Please contact us at 877-903-7968 at your earliest convenience. We are here Monday through Thursday 8 a.m. to 8 p.m. ET and Friday 8 a.m. to 5 p.m.



the lady freakin grilled me. she asked me about checking balances and liquid monies, investements, etc. she was very curious about my wife who is an AU on some of my accts and i'm on some of hers.. then asked me why i had very little credit from 2000-2006 when i had come out of college and such.


eventually she told me to hold on and when she came back i was approved for $100,000...or maybe just $15,000.

yes $15,000 while on the phone 21min after i app'd. that's how long the phone call took, 21min. just ended.

oh and like everyone they pulled TU.

rated:
i was also going to apply for the 2% straight visa sig card, but after that ordeal i'm not sure i want to risk it!


anyone figure out yet if Amazon is coded as books and will count like the citi forward?

rated:
mkatzpp said:   i was also going to apply for the 2% straight visa sig card, but after that ordeal i'm not sure i want to risk it!


anyone figure out yet if Amazon is coded as books and will count like the citi forward?


Even if Amazon isn't coded as a bookstore, it's easy enough to buy their GC's at the groc store for the 5%. Once redeemed, use Amazon balance on shopping portal like US Air or Hawaiian to collect a few airline miles. This method is a little bothersome but it does yield slightly better rewards for mile addicts.

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