@Anonymous wrote:Alright so I did some checkin.
The Chase Amazon- 3% back at Amazon, 2% gas and dining, 1% everything else. No caps.
The SM- If SM does anything but 1% on Amazon, wasn't on the URL, but I mighta just missed it?
Gives ya 5% on student loan payback LOL, which I paid off about 30 years ago. But hey I can go in the bookstore and get cash back on text books.
250 dollars caps on gas and groceries. Is that gonna be 250 each or combined? I spend about a 1000 a month on those items combined.
And I get 1% on everything else.
I'm not worried about the chase apr, I don't carry balances.
Now I dunno much, but it seems the chase is the better deal for a joker like me?
You get 5% back on Amazon up to $750/month. Gas and groceries are 5% on up to $250/month EACH.
EDIT: Nixon beat me to it :-P It should be noted that some people have been lucky enough to get TWO Sallie Mae CCs to double the monthly caps.
So is it 5% on Amazon website, or just buying from the bookstore side of the site?
Thanks for the help.
The caps on gas and groceries on the SM don't much work for me, but I can see using it for Amazon. Perhaps I just get BOTH. But that would take a few months, (one now, one later thing)That's prolly what Nixon would do. 
@Anonymous wrote:Thanks for the help.
The caps on gas and groceries on the SM don't much work for me, but I can see using it for Amazon. Perhaps I just get BOTH. But that would take a few months, (one now, one later thing)That's prolly what Nixon would do.
Well, wait just a second here. Even if you think of the cashback on Amazon and groceries as just an added benefit, the Sallie Mae MC is the superior card for gas as well except at very high levels of spending.
The amount of savings per month on gas for Sallie Mae: (.05)($250) + .01(X - $250) = S, where X is the amount of gas spent and S is the amount of money saved. (Do keep in mind that even past the caps, Sallie Mae offers 1% back on gas)
The amount of savings per month on gas for Chase Amazon: (.02)(X) = S.
Setting the two equations equal to each other, the equilibrium point is when X equals $1000. And equation two is only greater than equation one for values of X greater than $1000. Even if you don't understand the math, this means you would have to spend strictly more than $1000 PER MONTH on gas for Chase Amazon to save more money on gas than good ol' Sallie. I'm not saying that isn't possible...but if you DO spend more than $1000 per month in gas, that leads directly into my next point...
If you were originally going to go with both Sallie Mae and Chase Amazon, might I recommend another cobranded Chase card for gas? Chase AARP gives you unlimited 3% back on gas (with unlimited 3% back at restaurants as well as an added bonus).
I hate to say it so bluntly, but I just don't think Chase Amazon would be a good fit for you. Of course, you do what you want. But as a guy who is both mathematics and rewards inclined, the numbers just aren't there for Chase Amazon.
@Anonymous wrote:
@Anonymous wrote:Thanks for the help.
The caps on gas and groceries on the SM don't much work for me, but I can see using it for Amazon. Perhaps I just get BOTH. But that would take a few months, (one now, one later thing)That's prolly what Nixon would do.
Well, wait just a second here. Even if you think of the cashback on Amazon and groceries as just an added benefit, the Sallie Mae MC is the superior card for gas as well except at very high levels of spending.
The amount of savings per month on gas for Sallie Mae: (.05)($250) + .01(X - $250) = S, where X is the amount of gas spent and S is the amount of money saved. (Do keep in mind that even past the caps, Sallie Mae offers 1% back on gas)
The amount of savings per month on gas for Chase Amazon: (.02)(X) = S.
Setting the two equations equal to each other, the equilibrium point is when X equals $1000. And equation two is only greater than equation one for values of X greater than $1000. Even if you don't understand the math, this means you would have to spend strictly more than $1000 PER MONTH on gas for Chase Amazon to save more money on gas than good ol' Sallie. I'm not saying that isn't possible...but if you DO spend more than $1000 per month in gas, that leads directly into my next point...
If you were originally going to go with both Sallie Mae and Chase Amazon, might I recommend another cobranded Chase card for gas? Chase AARP gives you unlimited 3% back on gas (with unlimited 3% back at restaurants as well as an added bonus).
I hate to say it so bluntly, but I just don't think Chase Amazon would be a good fit for you. Of course, you do what you want. But as a guy who is both mathematics and rewards inclined, the numbers just aren't there for Chase Amazon.
I think of the Amazon Rewards as somewhat of a halfhearted attempt at a good rewards card. It's not particularly good at anything.