A+ MyBankTracker Rating

Sallie Mae Bank Customer Reviews

(10 Reviews)
2 out of 5 stars
5 Star 1
4 Star 0
3 Star 0
2 Star 1
1 Star 8

The Most Helpful Sallie Mae Bank Reviews

The most helpful favorable review
Reviewed By John F. Mar 10, 2013

Good Grocery Store Card, Great Gas Card, And A Better Amazon Card Than Amazon's Own Card

This is our primary card on file at amazon. Com, where transactions are processed with their book store mcc, even when you're not buying books. That means it earns 5% on up to $750/month there. So unless you exceed $1250 at amazon (plus other book stores), this is a better card than amazon's own 3% card or the citi forward card (2. 5% cash or about 3 to 5% in merchant-specific gift cards). The $250 cap on gasoline is plenty for most families, but groceries these days will surpass the $250 cap for all but the most frugal grocery shopper with more than one mouth to feed. We've had this card since before they switched to barclay. Account management through barclay's web site is much more smooth, polished and useful than the previous sallie mae web site.

One really nice feature is that they show the number of points earned for each purchase as they post to the account daily. So you can quickly confirm whether or not each retailer is earning a bonus. I've only seen that service at one other card (us bank cash+). I'd like to see that idea catch on with competing cards. Not only that, but in my experience, the points become available for redemption almost immediately -- no waiting for the statement date (or even longer). That surprised me, and i've never seen that offered elsewhere. We never carry a balance, so i've never paid attention to their fees, charges and interest rates.

Accordingly, my ratings for should not be given any credibility. I would have left those ratings blank here if there were a way to do that.

Thank you for your feedback Is this review helpful?
Vs.
The most helpful critical review
Reviewed By hercustom1200 Jun 15, 2015

NOT Sallie Mae, but Sallie Wont

This company is so disorganized and not in the digital age! On moving to a new state I updated my address and banking information online, which is what anyone that does all their banking online would do. I understand giving a banking institution one month to update their records, so you would think they would have used my new banking account information to withdraw my next month's loan payment. That wasn't the case, they used my old account which didn't have enough to cover the withdrawal and I received an insufficient funds charge from my bank. Then Sallie Mae charges me another fee to because of the withdrawal. They're blaming me now for their horrible way of doing business. How does a national loan company not have reliable computer updates? I'm now out the fees! Be careful in dealing with these people, they're still living in the dark ages.

Thank you for your feedback Is this review helpful?

Latest Sallie Mae Bank Reviews

  • H
    Reviewed By hercustom1200 Jun 15, 2015

    NOT Sallie Mae, but Sallie Wont

    This company is so disorganized and not in the digital age! On moving to a new state I updated my address and banking information online, which is what anyone that does all their banking online would do. I understand giving a banking institution one month to update their records, so you would think they would have used my new banking account information to withdraw my next month's loan payment. That wasn't the case, they used my old account which didn't have enough to cover the withdrawal and I received an insufficient funds charge from my bank. Then Sallie Mae charges me another fee to because of the withdrawal. They're blaming me now for their horrible way of doing business. How does a national loan company not have reliable computer updates? I'm now out the fees! Be careful in dealing with these people, they're still living in the dark ages.

    Thank you for your feedback Is this review helpful?
  • B
    Reviewed By bawareh May 30, 2015

    Good Savings Rate, but Bad Service, & Horrible Website!

    I like their MMA savings rates, and that I can write checks too!

    The Bad:
    1. Website locks you out after 2 bad tries
    2. Then they close at 5PM PST Fridays, so u are locked out & screwed until Monday!
    3. No online chat to help over weekend either! Come on, pay 1 guy to unlock accounts on the weekend for the ENTIRE US! You can afford it. You can!
    4. HORRIBLE web site. Things don't work, for months, others NEVER in years! No matter how many times you ask (me 12+ times over years) to fix it too!!!
    5. Transfers SUCK! When you do one, it shows buttons "EDIT" & "DELETE." They don't work.....in years....after asking managers many times. NOR, do they care to put an explanation (in web site page next to button, nor in a popup) that transfers cannot be deleted after u hit enter, even if they are not processed until 3+ days LATER, and EVEN if you wait 3 days and call in on Monday too! WTF, put those buttons there if they don't work.....just to trick peeps to transfer $ in and not let them cancel if they make a mistake??? SMH! :(

    THEIR SITE & SERVICE SCREAMS......SALLIE DOES NOT GIVE A CRAP!!!!

    THEY NEED TO FIRE THEIR WEB ADMIN AND MANAGER....PERIOD!!!!

    Thank you for your feedback Is this review helpful?
  • KB
    Reviewed By Kendra B. Jan 26, 2014

    Horrible

    I have dealt with such horrible customer service since I have had a loan with sallie mae. I am not getting any help whatsoever and I suggest people who are considering a loan with these people to not do it. I have complained to the Ombundsman group and my next step is the Department of Education. I think it is unfair how these people have treated me. I have filled out numerous forbearance applications and income based repayment to help me not to get into default with these loans. They continue to mislead me and give me false information. I wish I never had to deal with them.

    Thank you for your feedback Is this review helpful?
  • S
    Reviewed By sbarette Jan 14, 2014

    Absolutely horrible!

    Folks please, please, please, do not accept a loan from this bank. You will regret it if you are not able to pay the minimum amount due each month. I tried to no end to set up an arrangement where I could pay less than the minimum due as I have recently begin working again, but to no avail. This bank will absolutely do nothing to assist in paying back the loan, and is totally unforgiving of any circumstantial events. I have had unstable employment for several years and now that I have a stable job, Sallie Mae tells me what I can pay per month based on my salary, when I know that I can't pay it. Despite the fact, I am told that if the amount is not paid on a month-to-month basis, my name will be reported to the credit bureau. My credit score was going back up, but thanks to Sallie Mae, they will take any good report and make it negative.

    Thank you for your feedback Is this review helpful?
  • CA
    Reviewed By Carol A. Aug 25, 2013

    Sallie Mae rips off consumers

    Easy to get Sallie Mae loans, but just wait till its time to repay them. My son and his wife's monthly payment to Sallie Mae is nothing short of a mortgage payment amount. Following college, they both have minimum wage jobs, even after getting bachelor degrees. Sallie Mae doesn't care how much they make. They refused to take partial payments, and yet there is no way these two make enough to pay what Sallie Mae expects each month. Interest has been tacked on, even as Sallie Mae refuses to take any partial payments, and they now owe more than they will ever make in their lifetime. Yet still Sallie Mae refuses to work with them. It seems Sallie Mae would rather they live on the streets homeless in order to pay them. Their credit is ruined because of Sallie Mae's refusal to work with them. It seems downright stupid that Sallie Mae would not take something in payment rather than no payment at all. And when you try to contact them, be prepared to sit and wait for a long time for customer service, only to have them unable to do anything to help you - if they don't yell at you or if you can understand them at all

    Thank you for your feedback Is this review helpful?
  • M
    Reviewed By Monica Aug 10, 2013

    Sallie Mae will steal your money if you don't pay attention and apply it where they want!

    My sons student loan went delinquent, because I cosigned one of his loans, when I make a payment to that account, the payment is applied to the entire loan. I have my own student loan I am trying to keep up with and can't afford to pay on his full student loans along with my own. I am disabled so I can't afford to pay on my $50k loan as well as his 85k loan. So every time this happens, I spend hours on the phone. They require me to supply my bank statement showing the money was removed from my account and electronically submitted to sallie mae, oh and by the way, it will take them 5-10 days to get it straightened out. I am now waiting for them to investigate 2 payments to the cosigned loan that got applied to the full loan.
    Don't bother trying to contact online, it doesn't work. You would think with the profits this company rakes in they would have top of the line technology for their customers.

    Thank you for your feedback Is this review helpful?
  • J
    Reviewed By Joshua Aug 8, 2013

    Biggest Waste of Time, Be ready to give up hours of your life on phone calls with customer support

    This Bank is a nightmare. I have all my student loans with them, biggest mistake of my life. I have no problems paying my loans and my minimum payments but they make it so hard to pay. First of all once you sign up, you are going to be spammed, 2 emails a day at least, saying nothing but "Sallie Mae has something important and urgent to tell you please visit the website but due to security reasons we won't tell you anything in this email." Then you go to the website and nothing happens no notifications or anything telling you were to go or why they emailed you with this urgent document you needed to see. So once you get frustrated enough with the spam everyday and going to the slow nightmare of a website, you will probably do what I did just reroute those emails to spam. Which worked for the day to day. However, automatic debit does not work on the website for some reason I do not even know why they offer it. I have signed up for automatic debit from my account the first time a logged on the website then resigned up for auto debit every month after that because it never worked, finally on the 4th time I called into customer support to have them walk me through it, and once we were done doing exactly what I had done before to set up automatic debit they promised "yes all your loans are automatic debit" so I hung up and thought the nightmare was over, well its been 3 months and every month at least one of the auto debit loans does not debit my account so I get more spam from them and a phone call of a recording saying please salle mae at "1-800-Talk To A Robot For An Hour Even Though We Called You" I call then finally get to a customer service representative and ask why did you call, and they say I don't know sir what do you want? As if it is weird, and completely foreign to them that they are sending out automated calls telling people to call them for urgent account information. Anyways to add salt into the wound, to make a minimum payment it goes through immediately how

    Thank you for your feedback Is this review helpful?
  • JF
    Reviewed By John F. Mar 10, 2013

    Good Grocery Store Card, Great Gas Card, And A Better Amazon Card Than Amazon's Own Card

    This is our primary card on file at amazon. Com, where transactions are processed with their book store mcc, even when you're not buying books. That means it earns 5% on up to $750/month there. So unless you exceed $1250 at amazon (plus other book stores), this is a better card than amazon's own 3% card or the citi forward card (2. 5% cash or about 3 to 5% in merchant-specific gift cards). The $250 cap on gasoline is plenty for most families, but groceries these days will surpass the $250 cap for all but the most frugal grocery shopper with more than one mouth to feed. We've had this card since before they switched to barclay. Account management through barclay's web site is much more smooth, polished and useful than the previous sallie mae web site.

    One really nice feature is that they show the number of points earned for each purchase as they post to the account daily. So you can quickly confirm whether or not each retailer is earning a bonus. I've only seen that service at one other card (us bank cash+). I'd like to see that idea catch on with competing cards. Not only that, but in my experience, the points become available for redemption almost immediately -- no waiting for the statement date (or even longer). That surprised me, and i've never seen that offered elsewhere. We never carry a balance, so i've never paid attention to their fees, charges and interest rates.

    Accordingly, my ratings for should not be given any credibility. I would have left those ratings blank here if there were a way to do that.

    Thank you for your feedback Is this review helpful?
  • SN
    Reviewed By Sara N. Nov 2, 2012

    Worst Experience Ever!

    It has taken over 2 months and the bank has still not processed the loan. The right hand never knows what the left hand is doing!! One rep will tell you one thing and another rep will tell you another. They say you need specific forms filled out, but they can't find the forms?!! And when you try to access them from your account, you are unable. They have no correspondence with their customer and they would be content to just let you wait forever for your loan. I wouldn't of taken out the loan if I didn't need it. I would highly recommend that a person thinks twice before using Sallie Mae. It's not worth anyone's time and frustration!

    Thank you for your feedback Is this review helpful?
  • JL
    Reviewed By Julia L. Sep 7, 2012

    Student Loans: Good At First, Then Everything Went Downhill

    So here i was, an about-to-go-to-college student, and determined to stay away from having my parents cosign my loans. I went looking for private loans (i already maxed out my department of edu loans) and sallie mae seemed like a good choice. My first loan was the signature student loan, and for my first year of school everything went smoothly. I didn't have to pay any interest and my payments were deferred until 6 months after i graduated. My second year, i felt so confident in the sallie mae loan i had taken out, i decided to return.

    Unfortunately they threw out the signature student loan, and now had the smart option student loan, which required me to pay interest while i was in school. This deterred me a bit, so i called up sallie mae and a really nice woman told me it would only be about $25 a month, so in the end i thought it wouldn't be so bad. I took out the loan. Keep in mind i was a young student who read the disclosure agreement, but didn't fully understand it, and how could i? I wouldn't expect anyone under the age of 25 to understand those things. Months down the road, my interest payments started ballooning. $25, $50, $75, $100, $150.

    Until i was crying every time i had to pay the bill. I called sallie mae many, many times, explaining to them i was a college student, i was told it would be low interest in college?! They proceeded to explain how each time my loan disbursed, my new interest was on that new number. I felt like an idiot. If i had known that, i would have taken out my loan with my bank instead (which is what i did for my last year in school). I found a way to pay and deal with it, then a few months later, i see on sallie mae's website they have this new loan that has locked $25 interest payments while you're in school. So again i called them, and begged to get into whatever program that was. They said no. I will never take a loan out with them again.

    Thank you for your feedback Is this review helpful?

Let Us Help You Choose a New Bank

Don’t see a right fit? Answer 5 simple questions & get personalized account offer to you.