Barclaycard Sallie Mae World MasterCard Review (discontinued)
Updated April 26, 2014.
The Facts
The Math
At first look this card is very promising, but then you notice the low spending cap for the 5% categories. If each month you max out $250 for gas, $250 for groceries, and $750 for books, you earn $750 cashback a year, or $450 more than 2% that you can achieve with FIA Fidelity Amex. So $450 a year for keeping one extra card in your wallet is not a bad deal. But you don't have that much spending for books and Amazon, then this card's value diminishes. The discontinued version of Citi Forward offers 5x points on books too, but without any cap. So if you have the grandfathered in 5% Forward, you probably won't consider Sallie Mae; if no, Sallie Mae could be a great alternative.
The Conclusion
If you want to use this solely for gas and groceries, keep in mind the low spending cap. If you can max out books and Amazon, then this card is very attractive, especially after Citi Forward 5% version was discontinued to new applications.
The Facts
- Annual Fee: none
- Signup Bonus: $25
- Rewards: 5% cashback on gas (first $250 each month), 5% on groceries (first $250 each month), 5% on books (including Amazon.com, first $750 each month), 1% everywhere else. You actually earn points but they can be redeemed toward Sallie Mae student loans, Upromise account, or statement credit.
The Math
At first look this card is very promising, but then you notice the low spending cap for the 5% categories. If each month you max out $250 for gas, $250 for groceries, and $750 for books, you earn $750 cashback a year, or $450 more than 2% that you can achieve with FIA Fidelity Amex. So $450 a year for keeping one extra card in your wallet is not a bad deal. But you don't have that much spending for books and Amazon, then this card's value diminishes. The discontinued version of Citi Forward offers 5x points on books too, but without any cap. So if you have the grandfathered in 5% Forward, you probably won't consider Sallie Mae; if no, Sallie Mae could be a great alternative.
The Conclusion
If you want to use this solely for gas and groceries, keep in mind the low spending cap. If you can max out books and Amazon, then this card is very attractive, especially after Citi Forward 5% version was discontinued to new applications.