I just finished up my full review of the Sallie Mae rewards credit card. Unfortunately this card doesn’t get a lot of publicity around the place, I think there are two main reasons for this: it doesn’t pay an affiliate commission and a lot of people wrongly believe you need a Sallie Mae loan to make use of the card. The first explanation is self explanatory and something that I try to avoid, the second is plan wrong. This card earns points which are worth 1¢ and can be redeemed against Sallie Mae loans, to a Upromise account OR as statement credit.
Here’s my three reasons why I love this card:
- It earns 5% on gas purchases on the first $250 per month
- It earns 5% on grocery purchases on the first $250 per month
- It earns 5% on bookstore purchases on the first $750 per month
I love books, but I don’t spend a lot of money at traditional bookstores anymore. I do spend a lot of money on Amazon purchases and the majority of these are considered to be a bookstore (all purchases from Amazon directly are, orders that are fulfilled by Amazon are a 50/50 as to what they’ll code as).
I also don’t spend a lot of money on traditional grocery stores (I try to shop at discount grocy stores instead) but when I do it’s nice to get 5% cash back. This also frees up a bit of grocery store spending, meaning I can focus my blue cash preferred on manufactured spending. $250 per month also more that covers my gas purchases and means I don’t have to apply for a card that is for gas only.
[Read: Tactic for getting free gas]
What’s your favorite underrated card? I’m going to try and write a full review and intro piece every week on under utilized cards so let me know in the comments section here or on twitter. And one final reason I love this card: it’s issued by Barclay’s who almost always pull your TransUnion credit report rather than your Experian or Equifax!
View Comments (7)
I just applied this card. However, I found that the bank may change the cashback of ok purchase.
"5% cash back on the first $250 you spend per month on eligible gas and grocery purchases each and the first $750 you spend per month on eligible book purchases."
Not sure what I follow what you're saying?
I think the US Bank flexperks credit card is underrated and perhaps the US Bank Club Carlson credit card.
Can also reload $500 to AmEx Campus Edition at a local B&N for $4 and withdraw at an ATM for a monthly profit of ~$20 (and still have $250 at Amazon).
Nice tip, R! Will look into amex campus edition more.
I'm always surprised the IHG Rewards card doesn't get more coverage. No foreign transaction fees, bonused gas and groceries, decent sign-up bonus, and one $49 night at any hotel in their portfolio per year. Combined with PointsBreaks and a 10% rebate on award stays, I think its such a solid product.
It's on our list of underrated cards, will be covering this more!