topic Re: Amazon.com cards in Credit Cards

Amazon.com cards

CF_Frost — Sat, 28 Mar 2015 22:31:18 GMT

Could someone feed me some info on the Amazon cards that are out there. My scores are high 760+ and I' considering getting an Amazon card, as I shop there fairly regularly and have prime. From doing some digging, I understand that Amazon has a store card and Chase has an Amazon card. I have a CSP and Freedom with Chase and I do like them quite a bit. However, I have no store cards and understand there is a chance a store card can help mix your credit. I have no installment loans, so I assume that could help. Additionally, I don't know anything about the shopping card trick. Is that something I could do with the Amaon store card? I would rather not take both a HP and hurt my AAoA. What sparked my interest was reading about people getting 5% back at Amazon.com. I'm not sure anything less would really be worth me getting a card.

Could someone give me some insight to these cards? Thanks.

Re: Amazon.com cards

pipeguy — Sat, 28 Mar 2015 22:43:35 GMT

The Amazon store card offers 5% back on purchases under $149 and options for 6-12-18-24 months zero percent APR for larger purchases (based on amount and other factors, most purchaes will be in the 6 to 12 month interest free promotion).

Considering how much "stuff" is available through Amazon, and at generally good prices, I love my Amazon store card which started at $600 in late 2011 and is now $8,000. I typically carry $600 to $1000 on zero percent promos - never pay any interest.

As far as "store cards" helping your credit mix, I'd say national bank cards are much more important and store cards do little for your scores unless you are just starting out or rebuilding. That said, Amazon is a very good store card to have IMO, I have no interest in another MC/V, especially with Chase.

Re: Amazon.com cards

Themanwhocan — Sat, 28 Mar 2015 23:08:36 GMT

@pipeguy wrote:
The Amazon store card offers 5% back on purchases under $149 and options for 6-12-18-24 months zero percent APR for larger purchases (based on amount and other factors, most purchaes will be in the 6 to 12 month interest free promotion).

Considering how much "stuff" is available through Amazon, and at generally good prices, I love my Amazon store card which started at $600 in late 2011 and is now $8,000. I typically carry $600 to $1000 on zero percent promos - never pay any interest.

As far as "store cards" helping your credit mix, I'd say national bank cards are much more important and store cards do little for your scores unless you are just starting out or rebuilding. That said, Amazon is a very good store card to have IMO, I have no interest in another MC/V, especially with Chase.

I thought the Amazon store card only gives 5% if you also are paying for an Amazon Prime Membership ?

There is also the Sallie Mae mastercard, that gives 5% at Grocery Stores capped at $250/month, 5% at Gas Stations capped at $250/month, and 5% at Bookstores (amazon.com) capped at $750/month. Amounts over each cap get 1%. https://www.salliemae.com/credit-cards/sallie-mae-card/

US Bank Cash+ lets you choose two 5% categories and one 2% category every quarter, 5% categories are caped at a combined $2000 spend per quarter. One of the selectable 5% categories is Bookstores. However, if you apply you might get the Cash Rewards card instead, and have to do a product change to Cash+ at a later time.

Re: Amazon.com cards

pipeguy — Sat, 28 Mar 2015 23:13:13 GMT

You are right, it's for Prime members - since I buy a lot of things from Amazon I'm a Prime member and it applies to my purchases. My mistake....

That said, the oo% financing is not limited to Prime members only and is a real plus in my book.