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Thoughts on the Amazon credit card?

EpicBob 1,922 101 August 1, 2016 at 06:22 PM
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I haven't had a credit card in a long time, but I'm considering one since I buy there pretty frequently. I would consider the American Express Blue Preferred, but I don't really want to pay the fee and wouldn't use it often enough on groceries or something to make it worthwhile. Just wondering your thoughts on the card, and any idea how much credit you initially have on it, assuming you have a good credit rating? I never made a late payment, but I just stopped using the last card I had for a number of years. I'm hoping the amount given will be enough to cover a $1000 item... and eventually I want something that I can build up the amount so I can buy a car without a cosigner next time.

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#2
Get some estimates for how much you spend in various categories each month, on average. Maybe the Citi Double Cash with its 2% cash back on everything would be a good starting point if there isn't a category where you spend a lot of money every month.
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#3
I would recommend the Discover IT card. It has rotating 5% cash back categories (including Amazon) and other offers (mostly online purchases). Great customer service as well. Citi Double Cash is also a good recommendation.

Not sure about how much credit you get but probably depends on income and credit score. Usually you can ask for a credit increase after paying on time for a little while.

So unless you spend thousands at Amazon throughout the year there are probably better options.
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#4
Unless I'm missing something I don't see the point of the Amazon Rewards Visa. The signup bonus is a paltry $50 and the rewards are only 3% (compared to 5% from Cash+ under the bookstore category). The credit is provided by Synchrony so I imagine your credit line would be far smaller than it would be from one of the larger banks. As for buying a car with your credit card that's not possible. Each dealership varies in terms of how much they will allow on a CC, but none of them allow the entire vehicle purchase to go on a CC (unless we're talking about a $2K used car or something like that).
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#5
Fidelity Visa isn't bad for all-around purchases. Straight 2% cash back.
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#6
Quote from Rob_799 View Post :
I would recommend the Discover IT card. It has rotating 5% cash back categories (including Amazon) and other offers (mostly online purchases). Great customer service as well. Citi Double Cash is also a good recommendation.
Another card that often gets overlooked because it's billed as a "Miles" card, even though the "Miles" can be redeemed as cash back, is the Discover it Miles card. For the first year, it's effectively a 3% cash back card on *all* spending. That's because it normally earns 1.5 "miles" per $1 spent (and those miles are worth 1 cent apiece when taken as cash back), but then, at the end of the first year, Discover will double everything you've earned, thereby netting you 3% cash back on all of your spending in the first year.
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#7
Quote from ManUpOrShutUp View Post :
Unless I'm missing something I don't see the point of the Amazon Rewards Visa. The signup bonus is a paltry $50 and the rewards are only 3% (compared to 5% from Cash+ under the bookstore category). The credit is provided by Synchrony so I imagine your credit line would be far smaller than it would be from one of the larger banks.
There is an Amazon store card you may be talking about, but there's the "Amazon Rewards Visa" is a Chase Bank card, and my credit limit is something stupidly large like $18,000. I think it was at least $5k even when I first applied as a student a decade ago. Granted I had and have good credit, but my point is that the limits are not going to be artificially restricted.

It's not the best card ever for rewards, but I've found that they're "good enough" for day-to-day use.

The Amazon Prime Store Card is 5% back at Amazon, but only a $20 signup bonus. That's the Synchrony card. I assume it can only be used at Amazon.com.
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#8
Quote from dukeblue219 View Post :
There is an Amazon store card you may be talking about, but there's the "Amazon Rewards Visa" is a Chase Bank card, and my credit limit is something stupidly large like $18,000. I think it was at least $5k even when I first applied as a student a decade ago. Granted I had and have good credit, but my point is that the limits are not going to be artificially restricted.

It's not the best card ever for rewards, but I've found that they're "good enough" for day-to-day use.

The Amazon Prime Store Card is 5% back at Amazon, but only a $20 signup bonus. That's the Synchrony card. I assume it can only be used at Amazon.com.
Iagree

I have both, The Amazon Rewards Visa and the Amazon Store Card

I use the rewards visa for my bills and pay it off every billing cycle. The free Amazon credit is nice to have.

I use the store card for large purchases. They give you the option on 5% back or interest free for a period of time (time based on a price tier). If I am going to pay it off on the first billing cycle then I take the 5% otherwise I go with the interest free and pay it off over the giving period.


BTW, Everyday credit card use goes on my AMEX Blue Wink
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#9
Quote from vec View Post :


I have both, The Amazon Rewards Visa and the Amazon Store Card

I use the rewards visa for my bills and pay it off every billing cycle. The free Amazon credit is nice to have.

I use the store card for large purchases. They give you the option on 5% back or interest free for a period of time (time based on a price tier). If I am going to pay it off on the first billing cycle then I take the 5% otherwise I go with the interest free and pay it off over the giving period.


BTW, Everyday credit card use goes on my AMEX Blue
My combination is the Amazon (Prime) Store Card Citi Double Cash. Store Card for 5% back on consumables and the occasional 0% financing offer. Double Cash for 2% back and use of the Price Rewind feature as Amazon is no longer the price leader. Prime shipping benefits, lowest price via Rewind.
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#10
Amex has increased the AF of BCPreferred from $75 to $95. You get 6% on up to $6K grocery store purchases. So the net CB you're going to earn will be $265. Whereas with BCEveryday, with no AF, you get 3% on up to $6K grocery store purchases, so up to $180 net earnings. I like to keep several amex cards because of the valuable amex sync offers I get annually. I prefer the ones with no AFs, too.
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#11
The AMZN store card is a no-brainer, not sure what there is to think about. 5% back on AMZN purchases and no annual fee.
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#12
I suppose it depends on one's shopping habits and restraint regarding debt ratio. I have one, $15k CL, use it monthly from 50-150 orders, and pay it off each month to zero. I only have it for the 5% back.
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