topic Re: Amazon Card choice in Credit Card Applications

Amazon Card choice

xiocc — Fri, 28 Aug 2020 13:41:49 GMT

Hello,

Trying to decide which on which to get. Reviewed a few threads and found mixed info and results for Chase. I am also not the biggest fan of Sync but I do already have 3 Chase cards. I am currently under 5/24. I do like having a card that is restricted to just one store. Its been a year since ive gotten a new cc. The itch is real and Im sick and tired of amzn reminding me at EVERY checkout how much $$$ i could have saved last year -.-

I guess I am just looking for some metrics or feedback, thoughts, etc. Would like to apply with the next couple days. Signature info is up to date

Re: Amazon Card choice

AverageJoesCredit — Fri, 28 Aug 2020 13:51:13 GMT

Both good choices though some arent keen on the current Synchrony climate. With the Chase card, youll get a siggy regardless of limit and can use it outside of Amazon. Beautiful card. Sync card can grow nicely but only for online use. If you are under 5/24 and dont need other Chase cards, you can use that slot. If you are going to chase other Chase cards use those left over slots for them, then go for the Sync card.

Re: Amazon Card choice

xiocc — Fri, 28 Aug 2020 14:21:34 GMT

I do have 1-2 Chase cards that are in my 2 year plan lol I also have the Lowes card which I believe is Sync also so I was thinking that having 2 Sync relationships would help aas opposed to the current 1 I have.

Re: Amazon Card choice

Anonymous — Fri, 28 Aug 2020 14:33:20 GMT

Amex Amazon small business card also a valid choice.

Does not report to personal credit if you pay on time so no 5/24 impact.

Re: Amazon Card choice

randomguy1 — Fri, 28 Aug 2020 15:54:00 GMT

I can't speak to Synchrony but Chase has been offering some great promotions lately across a good portion of their card lineup.

Specifically for those with the Amazon Chase card, cardholders have been offered one of the following:

Chase Amazon Prime credit card is offering 4% back everywhere through February 11, 2021 with no limit.
Others are getting 3% back everywhere through November 11, 2020.
Others are getting 2% back everywhere.

https://www.doctorofcredit.com/targeted-chase-amazon-prime-card-get-3-4-back-everywhere-with-no-limits-thru-september-or-february/

Re: Amazon Card choice

coldfusion — Fri, 28 Aug 2020 16:15:18 GMT

Since you already have 3 Chase cards if you decide to app for the Chase card you need to take into account your current aggregate CL across all 3 cards vs. your yearly gross income. It's very much YMMV based upon your own individual profile but typically once someone is roughly in the 40-50% range the risk does increase of a denial or of an approval with a toy limit.

If denied you may be able to successfully recon, usually by allowing the UW to scavenge some CL from one of your other cards, and if approved with a toy limit you'll have to decide if you want to later reallocate CL from another card yourself.

Re: Amazon Card choice

M_Smart007 — Fri, 28 Aug 2020 16:43:30 GMT

Good Luck on whatever you decide!

Re: Amazon Card choice

FlaDude — Fri, 28 Aug 2020 17:00:05 GMT

@randomguy1 wrote:
I can't speak to Synchrony but Chase has been offering some great promotions lately across a good portion of their card lineup.

Specifically for those with the Amazon Chase card, cardholders have been offered one of the following:
Chase Amazon Prime credit card is offering 4% back everywhere through February 11, 2021 with no limit.
Others are getting 3% back everywhere through November 11, 2020.
Others are getting 2% back everywhere.

And some of us have not gotten anything.

Re: Amazon Card choice

Credit12Fico — Fri, 28 Aug 2020 17:10:11 GMT

I'd imagine this is a double edged sword.

I think I've heard of Chase potentially taking adverse action for acquiring too many Chase cards (and therefore too much credit line also). Can trigger AA where they decide your usage does not fit such a large credit line. Ironically it's somewhat a page out of the playbooks for C1 and Synchrony. But as you don't appear to have any Sync cards, I wouldn't think you would be a target for them. But you just may not like Sync. Under usual circumstances Chase is head and shoulders above Sync, but with the risk of AA from chase for too many chase cards, especially in this economic climiate. I'm not sure what's the best direction.

Re: Amazon Card choice

coldfusion — Fri, 28 Aug 2020 19:31:13 GMT

@Credit12Fico wrote:
I'd imagine this is a double edged sword.

I think I've heard of Chase potentially taking adverse action for acquiring too many Chase cards (and therefore too much credit line also). Can trigger AA where they decide your usage does not fit such a large credit line. Ironically it's somewhat a page out of the playbooks for C1 and Synchrony. But as you don't appear to have any Sync cards, I wouldn't think you would be a target for them. But you just may not like Sync. Under usual circumstances Chase is head and shoulders above Sync, but with the risk of AA from chase for too many chase cards, especially in this economic climiate. I'm not sure what's the best direction.

OP has not been seeking credit in over a year and is an established Chase cardholder, holding 4 Chase cards isn't particularly unusual, and as long as overall utlization is under control and every Chase card sees regular spend + PIF the odds of AA probably aren't going to be high.

The one thing I would not do is sockdrawer any Chase card.

Re: Amazon Card choice

AverageJoesCredit — Fri, 28 Aug 2020 20:49:34 GMT

@Credit12Fico wrote:
I'd imagine this is a double edged sword.

I think I've heard of Chase potentially taking adverse action for acquiring too many Chase cards (and therefore too much credit line also). Can trigger AA where they decide your usage does not fit such a large credit line. Ironically it's somewhat a page out of the playbooks for C1 and Synchrony. But as you don't appear to have any Sync cards, I wouldn't think you would be a target for them. But you just may not like Sync. Under usual circumstances Chase is head and shoulders above Sync, but with the risk of AA from chase for too many chase cards, especially in this economic climiate. I'm not sure what's the best direction.

Saying under usual circumstances Chase is head and shoulders above Sync is subjective. Some people, myself included have had their credit needs serviced just fine with cards offered by Synchrony just as im sure can be said for those using Chase. A lenders card is what one makes of it with their spend and lifestyle.

Re: Amazon Card choice

Credit12Fico — Fri, 28 Aug 2020 23:18:27 GMT

@AverageJoesCredit wrote:
@Credit12Fico wrote:
I'd imagine this is a double edged sword.

I think I've heard of Chase potentially taking adverse action for acquiring too many Chase cards (and therefore too much credit line also). Can trigger AA where they decide your usage does not fit such a large credit line. Ironically it's somewhat a page out of the playbooks for C1 and Synchrony. But as you don't appear to have any Sync cards, I wouldn't think you would be a target for them. But you just may not like Sync. Under usual circumstances Chase is head and shoulders above Sync, but with the risk of AA from chase for too many chase cards, especially in this economic climiate. I'm not sure what's the best direction.
Saying under usual circumstances Chase is head and shoulders above Sync is subjective. Some people, myself included have had their credit needs serviced just fine with cards offered by Synchrony just as im sure can be said for those using Chase. A lenders card is what one makes of it with their spend and lifestyle.

Can you really argue with me now that Sync has shown their true colors during this pandemic? Just because you do have a good experience with them, and admittedly so have I so far, you can't really compare Chase to Sync. Chase has just been better to it's customers on average.

Re: Amazon Card choice

randomguy1 — Fri, 28 Aug 2020 23:51:38 GMT

@Credit12Fico wrote:
@AverageJoesCredit wrote:
@Credit12Fico wrote:
I'd imagine this is a double edged sword.

I think I've heard of Chase potentially taking adverse action for acquiring too many Chase cards (and therefore too much credit line also). Can trigger AA where they decide your usage does not fit such a large credit line. Ironically it's somewhat a page out of the playbooks for C1 and Synchrony. But as you don't appear to have any Sync cards, I wouldn't think you would be a target for them. But you just may not like Sync. Under usual circumstances Chase is head and shoulders above Sync, but with the risk of AA from chase for too many chase cards, especially in this economic climiate. I'm not sure what's the best direction.
Saying under usual circumstances Chase is head and shoulders above Sync is subjective. Some people, myself included have had their credit needs serviced just fine with cards offered by Synchrony just as im sure can be said for those using Chase. A lenders card is what one makes of it with their spend and lifestyle.
Can you really argue with me now that Sync has shown their true colors during this pandemic? Just because you do have a good experience with them, and admittedly so have I so far, you can't really compare Chase to Sync. Chase has just been better to it's customers on average.

I'm going to preface this by saying I like Chase quite a bit so I'm more biased towards them.

but true colors? Synchrony is a business. Chase is a business. Chase is worth 3+ trillion and synchrony is worth 14+. My numbers might be outdated (google) but their reserves are vastly different. I don't blame Synchrony at all for reacting this way in unprecedented times. To compare them to Chase would not be fair. They don't have the financials to compare.

Re: Amazon Card choice

Credit12Fico — Sat, 29 Aug 2020 02:23:30 GMT

@randomguy1 wrote:
@Credit12Fico wrote:
@AverageJoesCredit wrote:
@Credit12Fico wrote:
I'd imagine this is a double edged sword.

I think I've heard of Chase potentially taking adverse action for acquiring too many Chase cards (and therefore too much credit line also). Can trigger AA where they decide your usage does not fit such a large credit line. Ironically it's somewhat a page out of the playbooks for C1 and Synchrony. But as you don't appear to have any Sync cards, I wouldn't think you would be a target for them. But you just may not like Sync. Under usual circumstances Chase is head and shoulders above Sync, but with the risk of AA from chase for too many chase cards, especially in this economic climiate. I'm not sure what's the best direction.
Saying under usual circumstances Chase is head and shoulders above Sync is subjective. Some people, myself included have had their credit needs serviced just fine with cards offered by Synchrony just as im sure can be said for those using Chase. A lenders card is what one makes of it with their spend and lifestyle.
Can you really argue with me now that Sync has shown their true colors during this pandemic? Just because you do have a good experience with them, and admittedly so have I so far, you can't really compare Chase to Sync. Chase has just been better to it's customers on average.
I'm going to preface this by saying I like Chase quite a bit so I'm more biased towards them.

but true colors? Synchrony is a business. Chase is a business. Chase is worth 3+ trillion and synchrony is worth 14+. My numbers might be outdated (google) but their reserves are vastly different. I don't blame Synchrony at all for reacting this way in unprecedented times. To compare them to Chase would not be fair. They don't have the financials to compare.

Well if Chase is the "small business" here.....then shouldn't they be the ones taking a chainsaw to the purse strings? Not Sync?

Re: Amazon Card choice

randomguy1 — Sat, 29 Aug 2020 03:07:37 GMT

@Credit12Fico wrote:
@randomguy1 wrote:
@Credit12Fico wrote:
@AverageJoesCredit wrote:
@Credit12Fico wrote:
I'd imagine this is a double edged sword.

I think I've heard of Chase potentially taking adverse action for acquiring too many Chase cards (and therefore too much credit line also). Can trigger AA where they decide your usage does not fit such a large credit line. Ironically it's somewhat a page out of the playbooks for C1 and Synchrony. But as you don't appear to have any Sync cards, I wouldn't think you would be a target for them. But you just may not like Sync. Under usual circumstances Chase is head and shoulders above Sync, but with the risk of AA from chase for too many chase cards, especially in this economic climiate. I'm not sure what's the best direction.
Saying under usual circumstances Chase is head and shoulders above Sync is subjective. Some people, myself included have had their credit needs serviced just fine with cards offered by Synchrony just as im sure can be said for those using Chase. A lenders card is what one makes of it with their spend and lifestyle.
Can you really argue with me now that Sync has shown their true colors during this pandemic? Just because you do have a good experience with them, and admittedly so have I so far, you can't really compare Chase to Sync. Chase has just been better to it's customers on average.
I'm going to preface this by saying I like Chase quite a bit so I'm more biased towards them.

but true colors? Synchrony is a business. Chase is a business. Chase is worth 3+ trillion and synchrony is worth 14+. My numbers might be outdated (google) but their reserves are vastly different. I don't blame Synchrony at all for reacting this way in unprecedented times. To compare them to Chase would not be fair. They don't have the financials to compare.
Well if Chase is the "small business" here.....then shouldn't they be the ones taking a chainsaw to the purse strings? Not Sync?

Neither are small businesses. Chase has over 3 trillion in assets. Not sure where you got that from.

Re: Amazon Card choice

Credit12Fico — Sat, 29 Aug 2020 04:07:33 GMT

@randomguy1 wrote:
@Credit12Fico wrote:
@randomguy1 wrote:
@Credit12Fico wrote:
@AverageJoesCredit wrote:
@Credit12Fico wrote:
I'd imagine this is a double edged sword.

I think I've heard of Chase potentially taking adverse action for acquiring too many Chase cards (and therefore too much credit line also). Can trigger AA where they decide your usage does not fit such a large credit line. Ironically it's somewhat a page out of the playbooks for C1 and Synchrony. But as you don't appear to have any Sync cards, I wouldn't think you would be a target for them. But you just may not like Sync. Under usual circumstances Chase is head and shoulders above Sync, but with the risk of AA from chase for too many chase cards, especially in this economic climiate. I'm not sure what's the best direction.
Saying under usual circumstances Chase is head and shoulders above Sync is subjective. Some people, myself included have had their credit needs serviced just fine with cards offered by Synchrony just as im sure can be said for those using Chase. A lenders card is what one makes of it with their spend and lifestyle.
Can you really argue with me now that Sync has shown their true colors during this pandemic? Just because you do have a good experience with them, and admittedly so have I so far, you can't really compare Chase to Sync. Chase has just been better to it's customers on average.
I'm going to preface this by saying I like Chase quite a bit so I'm more biased towards them.

but true colors? Synchrony is a business. Chase is a business. Chase is worth 3+ trillion and synchrony is worth 14+. My numbers might be outdated (google) but their reserves are vastly different. I don't blame Synchrony at all for reacting this way in unprecedented times. To compare them to Chase would not be fair. They don't have the financials to compare.
Well if Chase is the "small business" here.....then shouldn't they be the ones taking a chainsaw to the purse strings? Not Sync?
Neither are small businesses. Chase has over 3 trillion in assets. Not sure where you got that from.

"Small business" is in quotes for a reason. You pointed out that Chase has 3 trillion in assets, vs 14+ in assets for Synchrony and gave that as a reason for them not being comparable. So I can only reason that you make this assertion to point out how much bigger Synchrony's "business" is than Chase's business? Is that the takeaway? Correct me if I'm wrong.

Overall I just think Chase has not AA'd their customers in the manner than Synchrony have and ultimately it would seem safer to hold the Chase Amazon card, but the caveat being the OP is already at 3 or 4 chase cards, and that has sometimes led to AA and this is not a great time to apply for more cards from the same lender. Perhaps no Amazon card until next year is the best answer and then just get the Chase card when the coast is clear?

Re: Amazon Card choice

coldfusion — Sat, 29 Aug 2020 14:25:30 GMT

I think there was a mistype above.

Chase (technically JPMorgan Chase) manages about $3 trillion in assets.

Synchrony Bank manages about $100 billion in assets.

Re: Amazon Card choice

FlaDude — Sat, 29 Aug 2020 16:08:06 GMT

@randomguy1 wrote:
I'm going to preface this by saying I like Chase quite a bit so I'm more biased towards them.

but true colors? Synchrony is a business. Chase is a business. Chase is worth 3+ trillion and synchrony is worth 14+. My numbers might be outdated (google) but their reserves are vastly different. I don't blame Synchrony at all for reacting this way in unprecedented times. To compare them to Chase would not be fair. They don't have the financials to compare.

Either way it still seems like Sync is acting foolishly. If they just need to reduce exposure, they could cut CLs by 50 or 75% for people with unnecessarily high limits, but leave accounts open for people who are not likely to default. I have a 20k limit on my Lowes that I rarely charge more than 200/month on, I'd much rather have them cut it to 5k than close the account. Similarly, my wife has a JC Penney card with a 10k limit and she spends maybe $100 a couple of times a year, they could cut her to 1k and it really wouldn't matter.

Re: Amazon Card choice

AverageJoesCredit — Sat, 29 Aug 2020 23:36:34 GMT

@Credit12Fico wrote:
@AverageJoesCredit wrote:
@Credit12Fico wrote:
I'd imagine this is a double edged sword.

I think I've heard of Chase potentially taking adverse action for acquiring too many Chase cards (and therefore too much credit line also). Can trigger AA where they decide your usage does not fit such a large credit line. Ironically it's somewhat a page out of the playbooks for C1 and Synchrony. But as you don't appear to have any Sync cards, I wouldn't think you would be a target for them. But you just may not like Sync. Under usual circumstances Chase is head and shoulders above Sync, but with the risk of AA from chase for too many chase cards, especially in this economic climiate. I'm not sure what's the best direction.
Saying under usual circumstances Chase is head and shoulders above Sync is subjective. Some people, myself included have had their credit needs serviced just fine with cards offered by Synchrony just as im sure can be said for those using Chase. A lenders card is what one makes of it with their spend and lifestyle.
Can you really argue with me now that Sync has shown their true colors during this pandemic? Just because you do have a good experience with them, and admittedly so have I so far, you can't really compare Chase to Sync. Chase has just been better to it's customers on average.

No, nothing to do with how Chase treats their customers. You think Chase wont close an axcount or all if they feel something isnt right? They have done so and no matter what anyone says, we are all just numbers to them. My point is how can you say Chase is better than Sync for me or anyone else when i dont travel , which everyone knows is one of Chases strongest appeal for their cards and ecosystem. If i want a 1.5% card i can get my need and do from a Synchrony 2% cb card. If i want or need a rotating cat card i can use my Discover. Im just saying regardless of what Sync is doing, and regardless how one feels about Sync, lets not pretend the Pandemic hasnt affected their bad policy right now, Chase is better to those who choose to accept that as their believe but no way should that be unequivocal. My belief or opinion only , ill respect yours .

Re: Amazon Card choice

AverageJoesCredit — Sat, 29 Aug 2020 23:38:32 GMT

@coldfusion wrote:

I think there was a mistype above.

Chase (technically JPMorgan Chase) manages about $3 trillion in assets.
Synchrony Bank manages about $100 billion in assets.

billion sounds cooler though😄