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Its one of those things. If you know, you know. Easy money.
That's B.S. Wifey and I apply for at least 6-8 cc's/year and our credit rating is around 830/ea. Applying for a cc makes a tiny hit to your cc rating which goes away pretty quickly.
If your credit rating is so bad that your worried about this, then you have bigger financial problems to solve.
The amount of new accounts opened per year is only a small percentage of the overall credit formula. The majority of your score is based on you debt to income ratio. I open around 4 cards per year and sit around 790-810 credit score. That is still in the range to get the best available interest rates.
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Seeing only $50, but not a Prime member. Having said that, would it be possible to do the prorated $3.75 or whatever a week Amazon Prime cost to get this deal?
Seeing only $50, but not a Prime member. Having said that, would it be possible to do the prorated $3.75 or whatever a week Amazon Prime cost to get this deal?
I would join Prime if you want to join Prime but not to get a credit card offer. Offers are always targeted and you never know how long you have to be a member of Prime before you see the $200 offer.
I would join Prime if you want to join Prime but not to get a credit card offer. Offers are always targeted and you never know how long you have to be a member of Prime before you see the $200 offer.
Hmm, I see. I was hoping I'd get the offer as soon as I became a member, $3 and some change wouldn't have been much to try as well as being able to get in on some Prime deals going on right now.
This sounds like a scam. Why would someone just give you money for signing up for a credit card?
Serious question, you don't know how banks and credit card companies work? They make more in return than a mere 200 bucks. Every time you use your cc there's a transaction fee about 3% of the purchase. That cost is paid by the merchant store which you never see but is built into the price of the item. The second evil method is the late fee APR of around 20% or more. Credit debit is a very good business for them because you become a financial slave only playing off the interest and never the principal. For some people they get $200 but in return they may owe thousands more due to unpaid debits.
Serious question, you don't know how banks and credit card companies work? They make more in return than a mere 200 bucks. Every time you use your cc there's a transaction fee about 3% of the purchase. That cost is paid by the merchant store which you never see but is built into the price of the item. The second evil method is the late fee APR of around 20% or more. Credit debit is a very good business for them because you become a financial slave only playing off the interest and never the principal. For some people they get $200 but in return they may owe thousands more due to unpaid debits.
I mean, not entirely. You still pay the transaction fees on every charge indirectly, because be assured the merchants pass them along in their prices (some places even make this clear by offering a cheaper cash price, or charging a fee for using a card).
For folks like ourselves who avoid ever paying direct fees or interest it's still a net win- but indirectly you're still paying part of the tab for the "rewards" the banks give back to spenders.
Ehhh $200 isn't usually enough value for me to bite on a credit card. Plenty offering in the $4-500 range, often times with other bennies too (lounge access for example).
Yes, but you get 5% cashback on every Amazon purchase and it's not like your local small business that offers cash discount when you purchase (although it's a blatant way to usually avoid showing the cash income to reduce paying taxes).
So what do you do when buying from amazon? Buy a gift card with cash at a local store first and pre-load the amount? You're still paying the same price as someone using a credit card (or debit card).
Quote
from Knightshade
:
I mean, not entirely. You still pay the transaction fees on every charge indirectly, because be assured the merchants pass them along in their prices (some places even make this clear by offering a cheaper cash price, or charging a fee for using a card).
For folks like ourselves who avoid ever paying direct fees or interest it's still a net win- but indirectly you're still paying part of the tab for the "rewards" the banks give back to spenders.
Yes, but you get 5% cashback on every Amazon purchase and it's not like your local small business that offers cash discount when you purchase (although it's a blatant way to usually avoid showing the cash income to reduce paying taxes).
So what do you do when buying from amazon? Buy a gift card with cash at a local store first and pre-load the amount? You're still paying the same price as someone using a credit card (or debit card).
For amazon if it's something I don't care about having an extended warranty on I'm more likely to take 5x UR since I get a lot more than 5% cash value from that in one of the various ways to get it (either Freedom in the quarter it's 5x on Amazon- or amazon gift cards from other stores giving 5x in other quarters like gas stations- or office supply stores if they carry them all year at 5x in Ink Cash)
None of which really changes the original post I made which was addressing someone elses claim the $200 is "free"- it still comes from somewhere even if the cost is spread out (and falls most heavily on those who don't use credit responsibly).
Quote
from firebirdude
:
Ehhh $200 isn't usually enough value for me to bite on a credit card. Plenty offering in the $4-500 range, often times with other bennies too (lounge access for example).
Sure but once you've been churning a while you run out of the good ones without needing to wait a while... esp. when you've also got all the various 5/24, max5, 24/48 rules from each bank to dance around.
They had this same offer last year in July. I was approved and the $200 was pretty much immediately put into my amazon account for me to use. It was awesome!
It's my first credit card, and initially they only gave me a $500 line of credit but 2 or 3 month later, without informing me, they increased it to $2,000.
My finances were already solid and I already had a decent credit score...but this card has been the best financial decision I've made in many years. I use it for everything and I keep it payed off (I use it as a debit card) and my credit score has soared, I'm super close to hitting that 780 mark (I'm at 772 atm) which is kind of cool feeling.
I love this card. I love that I got $200 for free just for getting it, that it has no fees, and that I'm constantly earning cash back rewards with it. And I LOVE what it's done for my credit score!
Serious question, you don't know how banks and credit card companies work? They make more in return than a mere 200 bucks. Every time you use your cc there's a transaction fee about 3% of the purchase. That cost is paid by the merchant store which you never see but is built into the price of the item. The second evil method is the late fee APR of around 20% or more. Credit debit is a very good business for them because you become a financial slave only playing off the interest and never the principal. For some people they get $200 but in return they may owe thousands more due to unpaid debits.
Okay, well, I'm legit stupid. I had NO idea about the 3% purchase fee.
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If your credit rating is so bad that your worried about this, then you have bigger financial problems to solve.
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I mean, not entirely. You still pay the transaction fees on every charge indirectly, because be assured the merchants pass them along in their prices (some places even make this clear by offering a cheaper cash price, or charging a fee for using a card).
For folks like ourselves who avoid ever paying direct fees or interest it's still a net win- but indirectly you're still paying part of the tab for the "rewards" the banks give back to spenders.
So what do you do when buying from amazon? Buy a gift card with cash at a local store first and pre-load the amount? You're still paying the same price as someone using a credit card (or debit card).
For folks like ourselves who avoid ever paying direct fees or interest it's still a net win- but indirectly you're still paying part of the tab for the "rewards" the banks give back to spenders.
So what do you do when buying from amazon? Buy a gift card with cash at a local store first and pre-load the amount? You're still paying the same price as someone using a credit card (or debit card).
For amazon if it's something I don't care about having an extended warranty on I'm more likely to take 5x UR since I get a lot more than 5% cash value from that in one of the various ways to get it (either Freedom in the quarter it's 5x on Amazon- or amazon gift cards from other stores giving 5x in other quarters like gas stations- or office supply stores if they carry them all year at 5x in Ink Cash)
None of which really changes the original post I made which was addressing someone elses claim the $200 is "free"- it still comes from somewhere even if the cost is spread out (and falls most heavily on those who don't use credit responsibly).
Sure but once you've been churning a while you run out of the good ones without needing to wait a while... esp. when you've also got all the various 5/24, max5, 24/48 rules from each bank to dance around.
It's my first credit card, and initially they only gave me a $500 line of credit but 2 or 3 month later, without informing me, they increased it to $2,000.
My finances were already solid and I already had a decent credit score...but this card has been the best financial decision I've made in many years. I use it for everything and I keep it payed off (I use it as a debit card) and my credit score has soared, I'm super close to hitting that 780 mark (I'm at 772 atm) which is kind of cool feeling.
I love this card. I love that I got $200 for free just for getting it, that it has no fees, and that I'm constantly earning cash back rewards with it. And I LOVE what it's done for my credit score!
3% CB
I am not the primary on amazon prime.
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