Is Amazon worth it to you?

[2b2rich]

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@AeroKrix wrote:

It's always the first statement that gets people weirded out about new cards. When they make a large purchase and see that large purchase reported as a balance on their CR, they tend to freak out. But that's just the first statement. After that, everything will report like clockwork, due date then statement cut (report date), with synchrony.

as far as keeping Amazon, I find it worth it. I usually make large purchases on Amazon to use the interest free option. Also, synchrony is very generous with their limits. Started at $600 then 4 months later, $5k credit line. 

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I haven't received a statement yet. I was only approved for the card June 5 (5 days ago).  Heck, I don't even have the card yet.  Amazon (or SynBank) reported it as a new account to all 3 CRAs the same day I was approved.  I charged that $22 the next day.  Two days later I charged about $125, all of this will be paid off before the first due date. Then, today, I got a notification of a balance increase and when I looked, it was Amazon reporting the $22 (that I charged 4 days ago).  

So, now I"m wondering if tomorrow I will get a notification that more balance has increased yet again, to include the $125 I charged the next day...

MOST IMPORTANTLY, what I'm wondering is if they update through out the month EVERY time you charge something, or did some unusual occurance happen that my billing cycle closed 3 days after I was approved for this card???

As a long time customer, I love buying from Amazon, but if they update through out the month everytime you buy something and your balance changes, then THAT is what woudn't be worth having the card for me.

Oh well, never mind.  Apparently it doesn't happen to anyone else, so maybe it is just something else.  Still confused though

[core]

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@longtimelurker wrote:

But you would need buyers to ensure you can move the product (if I understand your concept) and that makes things more risky, right?

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Certainly you need buyers.  You are charged by Amazon for every month that the product sits in their warehouse.  It's really not much (say $0.10/mo for an inflatable sheep or Mario plush doll), but still it's a cost.  So even if you neglect cost of capital you are burning cash.  Yes you need buyers.  Yes you need to move it fast if you're going to scam Discover; even without the warehouse charge.

Now just so everyone knows, I do not intend to come off sounding like an expert on this.  It just-so-happens that I was hired (I'm a sleazy programmer/spammer who has a rep for getting around stuff) a couple weeks ago by a former customer to basically slaughter some things having to do with Amazon.  I have learned more in the past 2 weeks than I ever freaking wanted to know about Amazon, and now I'll be selling there as well.  So that's where I'm coming from.

There's nothing risky when you have numbers, data.  A crude way to ensure you have buyers would be to check the sales rank.  Indeed, I'm sure there are thousands of folks checking sales ranks right this second in the clearance aisle of friggin Target or something.  There are pay-only apps that do the math for you.  Not a new concept.  These people maybe make $1 per product after it's all said and done.  Slightly more if they're lucky.  That does not interest me. I only offer it as proof that these average Joe people have no problem plunking down $100 in product knowing exactly when it will sell.  Little risk.

Now imagine what would happen if you, as a business, didn't care if you lost a little money.  And had virtually unlimited capital, at least until the next due date or the next Amazon payment.

I'm not going to draw circles and arrows but think of it.  The key is, your true income is tax free by edict if it comes from a Discover "rebate"..

[longtimelurker]

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@core wrote:

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@longtimelurker wrote:

But you would need buyers to ensure you can move the product (if I understand your concept) and that makes things more risky, right?

---

Certainly you need buyers.  You are charged by Amazon for every month that the product sits in their warehouse.  It's really not much (say $0.10/mo for an inflatable sheep or Mario plush doll), but still it's a cost.  So even if you neglect cost of capital you are burning cash.  Yes you need buyers.  Yes you need to move it fast if you're going to scam Discover; even without the warehouse charge.

Now just so everyone knows, I do not intend to come off sounding like an expert on this.  It just-so-happens that I was hired (I'm a sleazy programmer/spammer who has a rep for getting around stuff) a couple weeks ago by a former customer to basically slaughter some things having to do with Amazon.  I have learned more in the past 2 weeks than I ever freaking wanted to know about Amazon, and now I'll be selling there as well.  So that's where I'm coming from.

There's nothing risky when you have numbers, data.  A crude way to ensure you have buyers would be to check the sales rank.  Indeed, I'm sure there are thousands of folks checking sales ranks right this second in the clearance aisle of friggin Target or something.  There are pay-only apps that do the math for you.  Not a new concept.  These people maybe make $1 per product after it's all said and done.  Slightly more if they're lucky.  That does not interest me. I only offer it as proof that these average Joe people have no problem plunking down $100 in product knowing exactly when it will sell.  Little risk.

Now imagine what would happen if you, as a business, didn't care if you lost a little money.  And had virtually unlimited capital, at least until the next due date or the next Amazon payment.

I'm not going to draw circles and arrows but think of it.  The key is, your true income is tax free by edict if it comes from a Discover "rebate"..

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Oh, I get it (even without circles and arrows!)  For some reason just feels a little more risky (as others move in to do exactly the same thing) when in reality it probably is less risky than the chance of say Walmart no longer accepting certain types of  items.

[core]

Yes I neglected the risk of copycats.  There's always that.  With staggered statement start dates though I think you'd have a fair chance of seeing it flooding before it was too late.

Sorry about the thread jack, everyone.  Let's get back to those Mario plush dolls.  As they always say:  Pics or it didn't happen.