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Regular Contributor
BackInTheSaddleAgain
Posts: 175
Registered: ‎02-08-2013
0

Amazon Visa vs. Store Card

Getting ready to go on a bit of an app spree. My motivations are strictly to increase my overall credit line/availability. I use Amazon a lot in both business and personally, so I thought I would start with them. I already have an 8 month old $5,000 commercial CL with Amazon as well, so I that's another reason. And its GEMB. Any suggestions as to whether I should go for the Rewards Visa or the Store Card? Which would most likely provide the highest CL? Pros and cons? 

 

Greatly appreciated.


Current Score: EX: 720, EQ: 723, TU: 703
Goal Score: EX: 750, EQ: 750, TU: 750

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Established Contributor
H4LO
Posts: 599
Registered: ‎10-30-2013
0

Re: Amazon Visa vs. Store Card


BackInTheSaddleAgain wrote:

Getting ready to go on a bit of an app spree. My motivations are strictly to increase my overall credit line/availability. I use Amazon a lot in both business and personally, so I thought I would start with them. I already have an 8 month old $5,000 commercial CL with Amazon as well, so I that's another reason. And its GEMB. Any suggestions as to whether I should go for the Rewards Visa or the Store Card? Which would most likely provide the highest CL? Pros and cons? 

 

Greatly appreciated.


Personally, after looking at both myself. I'd go with the Rewards Visa. I use Amazon a lot as well, and I think the 3x points would benefit me quite a bit. Not to mention, it's backed by Chase. You'd be able to recon it if you needed to, to get a higher limit. Unfrotunately, I'm not sure Chase would allow me another one of their cards right now. So I'm keeping myself from apping for it. 



Total CL - 60K // Util. ~1.6%

772 TU - 6/5 ///// 705 EX - 5/5 ///// 664 EQ - 4/29
Valued Member
dap1984va
Posts: 83
Registered: ‎11-06-2013
0

Re: Amazon Visa vs. Store Card

[ Edited ]

honestly, i applied for the amazon store card, the visa being backed by chase was a disqualifier for me. I have two chase credit cards and out of "numberous" credit cards they remain my lowest "BY FAR"  I have had a chase card with a $700 limit going on 2 years, not even going to talk about the other chase card. If it was ANY bank besides for chase I would of applied. I have the store card with a 4K starting credit limit. thats more than 2(two) of my chase cards combined so... the decesion is YOURS 

anything backed by chase or has anything to do with chase.........I want no part of it nor would i personally suggest it.

Valued Contributor
djc1puno
Posts: 1,715
Registered: ‎03-07-2013
0

Re: Amazon Visa vs. Store Card


BackInTheSaddleAgain wrote:

Getting ready to go on a bit of an app spree. My motivations are strictly to increase my overall credit line/availability. I use Amazon a lot in both business and personally, so I thought I would start with them. I already have an 8 month old $5,000 commercial CL with Amazon as well, so I that's another reason. And its GEMB. Any suggestions as to whether I should go for the Rewards Visa or the Store Card? Which would most likely provide the highest CL? Pros and cons? 

 

Greatly appreciated.


the store card is backed by GE so it's probably safe to say that getting a higher CL from them is more probable than getting it from chase (visa)...obviously if your purpose is to exclusively use the card for amazon purchases, the GE backed would be a better bet...but if you want something that's more versatile then obviously the visa tagged would fit that bill...just depends on what you're looking for :smileyhappy: hope this helps...



GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
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Regular Contributor
BackInTheSaddleAgain
Posts: 175
Registered: ‎02-08-2013
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Re: Amazon Visa vs. Store Card

Hey thanks people! Yeah, if Chase is behind the Rewards card then that's probably not an option. Although I have perfect credit and low utilization the past 6 years, I do have a BK from 2007. Chase would probably not like that would they? I am really just trying to thicken up my file. I did the Dave Ramsey thing after my BK for several years. So although I now have 6 active accounts currently reporting, they are all only 1 to 2 years old. My overall credit goes back well over 15 years, but the average age is only like 7 years because of how so many thinngs were wiped off my file during the BK.


Current Score: EX: 720, EQ: 723, TU: 703
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Valued Contributor
djc1puno
Posts: 1,715
Registered: ‎03-07-2013
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Re: Amazon Visa vs. Store Card


BackInTheSaddleAgain wrote:

Hey thanks people! Yeah, if Chase is behind the Rewards card then that's probably not an option. Although I have perfect credit and low utilization the past 6 years, I do have a BK from 2007. Chase would probably not like that would they? I am really just trying to thicken up my file. I did the Dave Ramsey thing after my BK for several years. So although I now have 6 active accounts currently reporting, they are all only 1 to 2 years old. My overall credit goes back well over 15 years, but the average age is only like 7 years because of how so many thinngs were wiped off my file during the BK.


it would be a safer bet to app for the store card bc of you BK...the store card would still be very useful for the purpose you need it to be IMHO :smileyhappy:



GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
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Super Contributor
longtimelurker
Posts: 7,336
Registered: ‎04-22-2013
0

Re: Amazon Visa vs. Store Card

[ Edited ]

If Chase is a problem (and even if it not) there are at least two cards that offer good rewards on Amazon.

 

1) Sallie Mae:  5% off on the first $750 per month

2) US Bank: Can choose 5% of the first $2,000 per quarter (combined with other 5% choice)

 

Unless you spend about $13K per year on Amazon, these cards offer better rewards than Chase, if most of your spending falls into the monthly or quarter caps.  And even heavy spenders should get one of these for the first bit of spend!

 

Citi Forward is 5% uncapped for existing card holders, but no longer available in that form.

CSP, Freedom, Chase Amazon, Cap One QS (x2), Penfed Plat Rewards (x2), Citi Double Cash, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus, Fid Amex, NASA Plat Cash
Scores Oct 31, 2014: 844 EX, 848 TU, 848 EQ
Established Contributor
FutureBillionaire
Posts: 651
Registered: ‎12-12-2012
0

Re: Amazon Visa vs. Store Card


longtimelurker wrote:

If Chase is a problem (and even if it not) there are at least two cards that offer good rewards on Amazon.

 

1) Sallie Mae:  5% off on the first $750 per month

2) US Bank: Can choose 5% of the first $2,000 per quarter (combined with other 5% choice)

 

Unless you spend about $13K per year on Amazon, these cards offer better rewards than Chase, if most of your spending falls into the monthly or quarter caps.  And even heavy spenders should get one of these for the first bit of spend!

 

Citi Forward is 5% uncapped for existing card holders, but no longer available in that form.


Plus, you can purchase Amazon gift cards from drugstores, grocery stores, and office supply stores.  If you have high earning cards for those retailers, you'll be in good shape.

Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward,
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape
Valued Contributor
Themanwhocan
Posts: 1,695
Registered: ‎04-04-2013
0

Re: Amazon Visa vs. Store Card


longtimelurker wrote:

If Chase is a problem (and even if it not) there are at least two cards that offer good rewards on Amazon.

 

1) Sallie Mae:  5% off on the first $750 per month

2) US Bank: Can choose 5% of the first $2,000 per quarter (combined with other 5% choice)

 

Unless you spend about $13K per year on Amazon, these cards offer better rewards than Chase, if most of your spending falls into the monthly or quarter caps.  And even heavy spenders should get one of these for the first bit of spend!

 

Citi Forward is 5% uncapped for existing card holders, but no longer available in that form.


I agree 100% with this.

 

In fact, get both #1 and #2.


Contributor
jwduke
Posts: 114
Registered: ‎01-14-2012
0

Re: Amazon Visa vs. Store Card


djc1puno wrote:

BackInTheSaddleAgain wrote:

Getting ready to go on a bit of an app spree. My motivations are strictly to increase my overall credit line/availability. I use Amazon a lot in both business and personally, so I thought I would start with them. I already have an 8 month old $5,000 commercial CL with Amazon as well, so I that's another reason. And its GEMB. Any suggestions as to whether I should go for the Rewards Visa or the Store Card? Which would most likely provide the highest CL? Pros and cons? 

 

Greatly appreciated.


the store card is backed by GE so it's probably safe to say that getting a higher CL from them is more probable than getting it from chase (visa)...obviously if your purpose is to exclusively use the card for amazon purchases, the GE backed would be a better bet...but if you want something that's more versatile then obviously the visa tagged would fit that bill...just depends on what you're looking for :smileyhappy: hope this helps...


I dunno... I applied for the Chase/Amazon store card. I received a decent interest rate, plus a $9,000 CL. (Nine TIMES my GEMB limit).A 9% LOWER interest rate was what I liked...



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