I think I'm gonna sock drawer my amazon card till end of the year and use my discover card till I figure out what is the best way to shop at amazon.
I never got the email, but did eventually receive a letter from Synchrony. The letter explicitly stated that members who had had the card since prior to [can't remember the date but I've had mine for 5 1/2 years and it was a fairly recent date] would be able to log into their account and opt-in to continue in the previous 5% statement credit program. When I log into my account and click Rewards & Offers, then Rewards, I get the same screen as the screenshot above. Clicking on the fine print:
So it looks like your 5% back becomes a rewards balance. If you're enrolled in automatic redemption, any of the 5% back that was unused gets credited on the following statement. That's not at all how this worked before as there's a 1-statement delay in getting the 5% back now. Am I missing anything?
@K-in-Boston wrote:...Am I missing anything?
No sir, I read it the same way. Seems to me they just kicked the 5% can down the road a month.
What do you bet they'll eventually mimic Costco and graciously hold our cashback rewards for an entire year?
@Moneyklutz wrote:
@K-in-Boston wrote:...Am I missing anything?
No sir, I read it the same way. Seems to me they just kicked the 5% can down the road a month.
What do you bet they'll eventually mimic Costco and graciously hold our cashback rewards for an entire year?
If that were to happen, I'd likely start to use my Amazon card like I use my Lowe's card - only for large purchases that I plan to stretch out at 0% for 6-24 months. (I get a 10% veteran discount at Lowe's which doesn't stack with the 5% off on their card, but stacks with 5% cash back cards or other rewards cards.) Assuming they don't go that route, it appears as though I may just use the rewards as I go since I order usually a few times in a given week.