Sallie Mae Neutering their 5% Card Starting Tomorrow (March 1st)

Just reposting this to remind people that this is the last day for 5%.

Sallie Mae is sending out a letter that their 5% card will be changed over to become a Commence Mastercard on March 1, 2017. “With the new Commence Mastercard, you’ll earn 2% cash back on grocery store and utility (cable, phone, internet, electric and gas) purchases and 1% cash back on all other purchases.”

The Sallie Mae card from Barclay offers 5% back (capped) on gas, grocery, and bookstore purchases. Amazon has been coding as a bookstore making it one of the best cards for Amazon purchases.

The card hasn’t been available for signup for quite some time, but it’s been working for existing cardholders. After March 1, 2017 all 5% categories will be gone and it will be an unattractive card which offers 1% everywhere and 2% on grocery and utilities.

commcerce-bankce

Hat tip to davidknowsbeston r/churning

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XP1
XP1 (@guest_361870)
February 28, 2017 13:44

Isn’t today the last day for 5% spend? Repost a reminder?

anthonyjh21
anthonyjh21 (@guest_361888)
February 28, 2017 14:03

Hopefully many people converted this card to the Barclay Rewards card with the 10k ($100) bonus for $1k in spend. There was a thread about this on reddit and a few mentions in other related threads as well. I’m guessing it’s too late to do this but maybe not since technically today is the last day to use it. Worth a shot in my opinion. I have $2k in spend now to earn $200 (wife and I).

I spent about 45-50 minutes in total so that part is YMMV. My call was 5 minutes while the wife was 40ish (3 calls). Just depends on who you get and their knowledge. The front line support can’t do the PC though so don’t even try. Just ask for a supervisor and try to get transferred to retention, but be careful not to tell them you want to cancel the card because they may do it (like Citi) without any hesitation. Many did say “cancel” but there was at least 1-2 data points of them shutting the account down.

Relevant threads if interested:

https://www.reddit.com/r/churning/comments/5tx2rk/converted_sallie_mae_offer_arrived_similar_to/

https://www.reddit.com/r/churning/comments/5rw9az/commence_mastercard_not_serviced_by_barclaycard/

Fiby
Fiby (@guest_361980)
February 28, 2017 15:56

Thanks for the reminder! I had seen this thread on reddit and added it to my todo list but I had forgotten.

In addition to the 10k points for $1k spend, I also got an offer of $50 statement credit if I spend $1000 a month for the next three months. I’m pretty sure this was just randomly targeted towards me. (technically I had a choice between that and a promo APR but I stopped paying attention to the details of that offer).

MaryJ
MaryJ (@guest_362279)
March 1, 2017 01:45

Sorry for dumbass question, but what is PC?

Gnarly Cow
Gnarly Cow (@guest_362309)
March 1, 2017 04:01

I just tried to convert this card, but it was already too late. The automated system greeted me with the title Commence credit card customer service. It was clearly an oversees call center, and the rep said a conversion is not an option. I then tried calling their credit department, and I got transferred to a US-based call center (which could be the retention department); the rep put me on hold and checked, but then told me that I had to wait a year before my card can be converted to another card like the Arrival. Apparently, the conversion to Commence already took effect and that reset the clock.

Stonewell
Stonewell (@guest_362758)
March 1, 2017 22:57

I had procrastinated until today, but was able to still make the switch to the Rewards MC just now. Just ask to be transferred to an Account Specialist to make your request. The Relationship Rep you get initially will not be able to do it. Good luck. 🙂

Ferris
Ferris (@guest_363866)
March 3, 2017 23:54

I was also able to make this change today.

10,000 points after $1,000 spend and also $50 statement credit after spending 1K+ for 3 months. That’s an additional 3.5% cashback on the last 2 months, though I’m unsure if I will do it as I will probably do a few sign-up bonuses.

Ugly
Ugly (@guest_329561)
December 20, 2016 15:53

NOOOOO!

2016 can rot in hell. #%^+%

Latoya Jackson
Latoya Jackson (@guest_329563)
December 20, 2016 16:10

Lol!!! I agree. This year for me can KISS IT. Especially since my new construction home just collapsed. Thousands of dollars lost. Lost time and energy through scammers. Your comment sums up my 2016.

Alana
Alana (@guest_328711)
December 18, 2016 13:31

I had my mom sign up for this credit card last summer because it was pretty straight forward and easy for her to understand. What fee-free card should I move her over to at this point? She mainly shops at Target, Walmart and Amazon. She also buys gas and eats her fair share of 5 dollar footlongs.

She does have the Target Red Card and Amazon Store Visa. Thanks for any advice. 🙂

Mser
Mser (@guest_328716)
December 18, 2016 13:41

Citi Double Cash is 2% no AF. Best no hassle card.

William Charles
Admin
December 18, 2016 16:43

I’d probably just get her a 2% card, or get her into the sign up bonus game – although that’s a bit harder to understand I think the rewards are worth it.

anthonyjh21
anthonyjh21 (@guest_328857)
December 18, 2016 19:23

As Will stated, have her go with a 2% straight cash back card with no strings or fees. Citi double cash back card is probably the one to go with:

https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=citi-double-cash-credit-card

Now if she shops at Costco then the Citi Costco card would be great because it’s 2% in warehouse, 4% gas and 3% restaurant. The Costco CC will sadly be my default for gas now that the SM is being nerfed. It’s already been my backup for restaurants whenever its not a bonus category with other CC.

Mark
Mark (@guest_328342)
December 17, 2016 12:08

Well, back to my BankAmerica Rewards card. At least I’ll get 3% on gas with it. Combine it with 5% quarter on gas from Discover It.

Mser
Mser (@guest_328715)
December 18, 2016 13:39

You can get much bigger gas discounts buying gas gift cards. 7-8%.SVM has regular sales on eBay. Use a 2% card and bump it to 9-10%.

kevin nguyen
kevin nguyen (@guest_327486)
December 15, 2016 12:46

Well, it was fun while it lasted. I like how they show bonus points in transaction history next to the amount; very straight forward and simplicity unlike other banks. Any 5% grocery CC out there except from AmEx EveryDay Preferred?

Chris
Chris (@guest_327403)
December 15, 2016 06:01

Reminds me of how Citi nerfed the Forward card. Was great for putting all my Amazon and dining on it until they turned all the 5% categories into 2%. I’m still deciding what to do with all the ThankYou points I racked up, as some of it starts to expire in a year. I might just cash it out as a “student loan check”.

Chucks
Chucks (@guest_362262)
March 1, 2017 00:47

Cashing out Citi TYP for 1.6 CPP on any AA airfare with the Prestige was probably the easiest option.

anthonyjh21
anthonyjh21 (@guest_327384)
December 15, 2016 03:55

NOOOOOOO!!! These were by far my favorite cards. I write “these” because I had two 5% cards between the wife and I. This one really hurts because as everyone knows it was 5% grocery but it also worked at Walmart and Target (ones here at least). This was a huge drawback of the Amex BC card, being that it works only in traditional grocery stores. The 5% Amazon is going to hurt too, but not nearly as bad as grocery. I can still get 5% but it’ll be a bit more legwork.

This was definitely a kick to the nuts and not what I wanted to read before bed. Excuse me while I go lay in bed while my mind buzzes with ways to continue to get my 5.5% cash back (CB -> Upromise -> HYS).

QueenoftheSkyPesos
QueenoftheSkyPesos (@guest_327696)
December 15, 2016 20:22

If it makes you feel better, you can get 5% at Target with the Target Red Debit card.
No hard pull since it just takes the money from your bank account.
You can get discounted Sam’s Club gift cards at Sam’s Club (and additional 5% if using a “Wholesale Store” category bonus) and spend them at Walmart.

anthonyjh21
anthonyjh21 (@guest_328157)
December 16, 2016 19:50

Yeah, I have the red card but I’m sadly not even sure if it’ll work since they banned my target account a while back (buying too many eBay gc) .

I don’t have a Sam’s membership but it’s funny you brought that up because earlier today I had the thought of doing a fake online checkout to see if they’d charge me the 10% non-member fee if I were to buy a gift card. I live in California and if my memory serves me correct there was a DoC post last year about certain States not being charged the 10%.

Daniel
Daniel (@guest_327334)
December 15, 2016 00:01

Annnnd my favorite card is gone. Sad day indeed.

Josh M
Josh M (@guest_327299)
December 14, 2016 21:53

So what is the best alternative for grocery spend now? (I dont really think the BCP is worth the AF)

arch
arch (@guest_327285)
December 14, 2016 21:20

Does the new card remain under the Barclay name or is Commence a different company?

Aahz
Aahz (@guest_327337)
December 15, 2016 00:13

It’s still a Barclaycard. The official new name is Commence Mastercard by SallieMae.