Any Real Advantage For Amazon Visa vs Store Card?

[atd1970]

I have both Chase Amazon, and the Store Card. My intention wasn't to have both; however, I accidentally deleted the Store Card as a payment method a few months ago.

I tried over and over again to get my account number, but Synchrony made it difficult. I did online chat, and was told to call, I did email and was told to do online chat, I requested a new card (paper) and never got it, I called and was told to request online. I finally gave up.

So, I have been a good Chase and Amazon customer, and just applied for the card. Didn't really read the reward structure, just assumed it was better than the Store Card.

Just dropped $3,000 shopping for Christmas on Amazon @ 3% Rewards on Chase. The Store Card offers 5%. Really??

I know interst rates are different 15.99 v 20plus%, but the Amazon Store Card suggests you can get 18 month at 0% if you wave 2% Rewards.

Can someone explain this mess to me?

[longtimelurker]

Chase Amazon is an old card, I got it in 2004 and then 3% on Amazon was great (as was the 2% categories as most cards were 1% at best).   But it hasn't really changed with the times.   Since then, Citi Forward and Sallie Mae (while no longer available) offer 5% on Amazon, as does Cash Plus if you choose bookstores.    And most recently, with the Prime version of the store card now offers 5% and//or special financing. 

And with 2% everywhere cards, 2% on some categories isn't that exciting. 

So basically, not much to recommend the Chase card these days!

[atd1970]

Thanks. You live and learn sometimes I guess. I should have should looked for the best Amazon deals through other cards. Just lazy or impulse buying LOL.

[colinstu]

Awww.. when did the Sallie Mae card go away? I was wanting it... was gardening. Darn :/

[takeshi74]

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@atd1970 wrote:

Didn't really read the reward structure, just assumed it was better than the Store Card.

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Never assume and take it as a lesson learned the hard way.  If you're looking for a rewards card you should not only understand the rewards structures of the cards you're looking at but also run the numbers for your spend to determine how well the cards provide rewards from your spend.  Ideally you should start with your biggest spend categories (including non-category) and find card that maximize rewards on those categories.

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@atd1970 wrote:

I know interst rates are different 15.99 v 20plus%, but the Amazon Store Card suggests you can get 18 month at 0% if you wave 2% Rewards.

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The APR doesn't really matter when earning rewards.  If you carry a balance you kill any rewards.  Also, when you carry a balance you typically lose your grace period.  Granted, I do request APR reductions on my rewards cards just to get them as low as possible but don't plan on carrying balances and earning rewards as a rule of thumb for a given card.

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@atd1970 wrote:

@Anonymous dropped $3,000 shopping for Christmas on Amazon @ 3% Rewards on Chase. The Store Card offers 5%. Really?? 

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Really.  There are rewards cards that offer differing earn rates for a given spend category -- not just Amazon.  It's up to you to carefully research and find what suits you best.  Do your due diligence and don't apply for cards impulsively.

To be clear, the Amazon store card offers 5% for Prime members.  While many people have Prime, not all do and not all are willing to do so.

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@longtimelurker wrote:

Since then, Citi Forward and Sallie Mae (while no longer available) offer 5% on Amazon, as does Cash Plus if you choose bookstores.    And most recently, with the Prime version of the store card now offers 5% and//or special financing.

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Amazon also falls under book stores for the US Bank cash+.  Rotators (e.g. Discover it, Chase Freedom) also may offer Amazon for a given quarter.  Anyone looking at the options should carefully review to see what qualifies as "Amazon".  Rewards programs can vary in whether or not Marketplace, Prime subscriptions, digital downloads, gift cards, Fresh, etc qualify.  One should definitely read the terms.

[longtimelurker]

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@takeshi74 wrote:

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@longtimelurker wrote:

Since then, Citi Forward and Sallie Mae (while no longer available) offer 5% on Amazon, as does Cash Plus if you choose bookstores.    

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Amazon also falls under book stores for the US Bank cash+.  

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Yep!

[Anonymous]

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@atd1970 wrote:

I have both Chase Amazon, and the Store Card. My intention wasn't to have both; however, I accidentally deleted the Store Card as a payment method a few months ago.

I tried over and over again to get my account number, but Synchrony made it difficult. I did online chat, and was told to call, I did email and was told to do online chat, I requested a new card (paper) and never got it, I called and was told to request online. I finally gave up.

So, I have been a good Chase and Amazon customer, and just applied for the card. Didn't really read the reward structure, just assumed it was better than the Store Card.

@Anonymous dropped $3,000 shopping for Christmas on Amazon @ 3% Rewards on Chase. The Store Card offers 5%. Really??

I know interst rates are different 15.99 v 20plus%, but the Amazon Store Card suggests you can get 18 month at 0% if you wave 2% Rewards.

Can someone explain this mess to me?

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Like you, I have (had, in your case, for the store card) both the Amazon store card and the Chase Amazon Rewards Visa. I got Chase card back in May, and store card just last month.

The Amazon store card (I happen to be a Prime member) gives the option of either 5% back as a statement credit, or several levels of 0% financing, (6, 12, 18 mos., depending on the amount of the purchase). You choose your payment option using radio buttons at the checkout. As I understand it, the special financing amount is not eligible for the 5% back. 

I only use my Chase Amazon for the 2% on gas and restaurants anymore, except when Discover has the 5% back category in effect for gas. Similar deal in place by Chase for the special financing.

I shop on Amazon regularly, so the store card has been very useful to me. On advice from another poster, I called Credit Solutions (Synchrony) right away after I was approved for the Amazon store card with $1,800 initial CL, and requested a $10K CL; they gave me $5K, which helped my utilization.

Chase is notoriously difficult about giving CLIs without HPs, though I did just get one (not requested by me, and no HP) after 6 months of using my Chase Amazon. I charged up very close to limit and then PIF every month. I know some other posters here would say "don't do that," but it doesn't seem to have done me any harm. Chase doubled my CL after 6 months of this behavior (from $2K initial to $4K).

[UncleB]

The Amazon Visa also gives 2% rewards on drugstore purchases.  That probably isn't 'Earth-moving' for most folks, but for some it could be significant.

[longtimelurker]

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@UncleB wrote:

The Amazon Visa also gives 2% rewards on drugstore purchases.  That probably isn't 'Earth-moving' for most folks, but for some it could be significant.

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Right but there are now a choice of 2% everywhere cards so 2% somewhere is a lot less special these days

[UncleB]

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@longtimelurker wrote:

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@UncleB wrote:

The Amazon Visa also gives 2% rewards on drugstore purchases.  That probably isn't 'Earth-moving' for most folks, but for some it could be significant.

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Right but there are now a choice of 2% everywhere cards so 2% somewhere is a lot less special these days

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Exactly why I mentioned it wasn't 'Earth-moving'... LOL.