11-04-2012 07:39 AM
Like the title states?
11-04-2012 08:35 AM
Well, the store card gets you 6/12/24 month financing for purchases while the visa gives you 3 reward points per dollar spent at amazon (and 2 or 1 points elsewhere).
Oftentimes those who are in need of financing for consumer products outside of big-ticket long-term purchases like cars, houses, and home renovation don't really have enough volume outside of these fincanced items for the 3 reward points to make much of a difference. I'd go through my order report of the year before and use that to decide if it would be worth it.
That said, no, I don't have these cards. I don't need the financing and I use the Citi Forward for rewards at amazon.
11-04-2012 08:50 AM
11-04-2012 09:09 AM
I have both, but rarely use the store card anymore. The only time it beats the Visa, is if you finance more than six months. Otherwise, keeping the money in a savings account will earn 3% for six months which is the same as the Visa. Twelve months will earn 6% though, so then, the store card is better.
11-04-2012 09:27 AM
Got the amazon chase card as the third card for my app spree. 2 months later decided having a store cardghat has grown will save me quite a bit 6-9 months from now to make some 12 months financed purchases before a few states start charging sales tax. So I took the hit there. I also got the citi forward and use that over the chase amazon. 0%. And 5 Ty points vs 3 points and 18%. I get reimbursed for somespur chases and it can take up to 8 to 9 weeks so .
Sorry for any typing errors, iPad autocorrect is kicking my butt with these forums and making more errors.
11-04-2012 11:34 AM
For the financing to be better than the 3% instant reward (if you already have the money and can put it in a savings account), that requires a savings account with more than 3% interest for the financing period. For the half year financing period, that would be 6.1% per year and for the 12 month financing it would be 3%.For the 24 months items, it's still 1.48%.
Hardly any bank is giving more than 1% per year for any sizable amount of money in savings accounts right now: https://www.google.com/advisor/ussavings?kw=12+mon
A 12 months CD tops out at 1.1% right now: https://www.google.com/advisor/uscd?bsp=1&s=1&kw=1
Do you seriously have a savings account that gives substantially more than 1% for anything but a toy amount of money?
11-04-2012 12:11 PM
11-05-2012 05:32 AM
11-05-2012 08:23 AM
Just have the GE card. No need or desire to have the Chase version. I'm keeping my exposure to each lender to the minimum. I enjoy the 6/12/24 months 0% financing and the 4mos SP CLIs
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.