topic Re: Close Chase amazon? in Credit Cards

Close Chase amazon?

MoneyBurns — Sat, 04 Jun 2016 18:45:59 GMT

Okay so I have had my Chase amazon since 2014 or 15, I don't remember. I signed up for it at the time as it gave me $75 off on my hdtv in grad school. It was a lot of money to me then.

Anyways come 2016, I don't use the card at all anymore. I was wondering if I should just close it and transfer the whole line or most of it to freedom. My freedom is already a sig and it'd bring the limit to almost 10k. I use the freedom on its 5% categories only. The extra credit line would help utilization.

I have amazon covered by Sallie so I don't really need it per say. Amazon is a visa sig as well so I'm contemplating that and if its worth the AAoA since its already 1 to 2 years old.

I'm not in a hurry to decide this and I'd thought I get some second opinions.

Thanks!

-Sabre

Re: Close Chase amazon?

Anonymous — Sat, 04 Jun 2016 18:50:20 GMT

in the long term, you would be better off moving the limit over to your Freedom, IMO.

I am reaching a point of going over my card list, and planning to consolidate or close some if they are really never going to be used.

Re: Close Chase amazon?

AverageJoesCredit — Sat, 04 Jun 2016 18:51:12 GMT

Hi, well in my opinion if you dont use it lose it. Especially if you can transfer most of your limit yo orher card that can in essence serve same purpose, i say why not?. Still a newb but if i had that option that would be how i would do it. Best regards on your decision!!

Re: Close Chase amazon?

MoneyBurns — Sat, 04 Jun 2016 19:42:30 GMT

I think I'm leaning more on closing it. Time to close the EO!! XP

Re: Close Chase amazon?

Creditaddict — Sat, 04 Jun 2016 19:45:21 GMT

Just call and move the entire limit to Freedom and close it up!

Re: Close Chase amazon?

MoneyBurns — Sat, 04 Jun 2016 20:07:25 GMT

I just got off the phone with them. They let me transfer my entire limit! Sweet!! 9k on freedom! Thanks for the input everyone! Just have to wait till July to use it on dining.

Re: Close Chase amazon?

Imperfectfuture — Sat, 04 Jun 2016 23:43:39 GMT

@Anonymous wrote:
in the long term, you would be better off moving the limit over to your Freedom, IMO.

I am reaching a point of going over my card list, and planning to consolidate or close some if they are really never going to be used.

Same here. Focusing on most used cards, best rewards, lowest apr's, etc. Arrival is going bye bye first, and sooner than I thought. Just got a BECU PLOC soft pull approval, 7500 limit, 8.9%. Liking my CUs.

Re: Close Chase amazon?

Imperfectfuture — Sat, 04 Jun 2016 23:44:29 GMT

@AverageJoesCredit wrote:
Hi, well in my opinion if you dont use it lose it. Especially if you can transfer most of your limit yo orher card that can in essence serve same purpose, i say why not?. Still a newb but if i had that option that would be how i would do it. Best regards on your decision!!

Another strong consideration.

Re: Close Chase amazon?

Imperfectfuture — Sat, 04 Jun 2016 23:45:22 GMT

@MoneyBurns wrote:
I just got off the phone with them. They let me transfer my entire limit! Sweet!! 9k on freedom! Thanks for the input everyone! Just have to wait till July to use it on dining.

Congrats (did not know EO was open on Saturday?)

Re: Close Chase amazon?

Anonymous — Sun, 05 Jun 2016 00:50:08 GMT

@MoneyBurns wrote:
Okay so I have had my Chase amazon since 2014 or 15, I don't remember. I signed up for it at the time as it gave me $75 off on my hdtv in grad school. It was a lot of money to me then.

Anyways come 2016, I don't use the card at all anymore. I was wondering if I should just close it and transfer the whole line or most of it to freedom. My freedom is already a sig and it'd bring the limit to almost 10k. I use the freedom on its 5% categories only. The extra credit line would help utilization.

I have amazon covered by Sallie so I don't really need it per say. Amazon is a visa sig as well so I'm contemplating that and if its worth the AAoA since its already 1 to 2 years old.

I'm not in a hurry to decide this and I'd thought I get some second opinions.

Thanks!

-Sabre

I see you have closed it, and I think that is a good decision (with the CL transfer). Just note though that in the long term you can't rely on Sallie to cover Amazon (Citi Forward died today for that, sob sob!). But the Chase Amazon card is only 3% anyway, so just 1% more than a general 2% card, and, hopefully, if Sallie dies the Amazon Prime store card will still be doing 5%.

Re: Close Chase amazon?

Anonymous — Sun, 05 Jun 2016 01:16:34 GMT

@Anonymous wrote:

I see you have closed it, and I think that is a good decision (with the CL transfer). Just note though that in the long term you can't rely on Sallie to cover Amazon (Citi Forward died today for that, sob sob!). But the Chase Amazon card is only 3% anyway, so just 1% more than a general 2% card, and, hopefully, if Sallie dies the Amazon Prime store card will still be doing 5%.

yeah that's on my radar as an emergency go-to if SM is killed off entirely. That's also the main reason I got in with PenFed for the Platinum Rewards card for gas. Now if there was just something comparable for groceries we'd be set. I know Amex BCP is 6% but I only spend about 40-60 per week on groceries so I think overall it would just barely break even with the AF.

Re: Close Chase amazon?

Anonymous — Sun, 05 Jun 2016 01:26:48 GMT

I am going to do the same for my Chase Amazon to Freedom. I have Amazon also. So I think it would be best do close it down. Only need one.

Re: Close Chase amazon?

Anonymous — Sun, 05 Jun 2016 01:35:20 GMT

I was contemplating closing my Chase Amazon too because I have Amazon covered with Discover and US Bank for Kindle Downloads.

Then last week, they offered me a rather generous balance transfer. 0% APR for 15 months, 2% transfer fee. I took it.

Re: Close Chase amazon?

MoneyBurns — Sun, 05 Jun 2016 02:44:20 GMT

@Anonymous wrote:
@MoneyBurns wrote:
Okay so I have had my Chase amazon since 2014 or 15, I don't remember. I signed up for it at the time as it gave me $75 off on my hdtv in grad school. It was a lot of money to me then.

Anyways come 2016, I don't use the card at all anymore. I was wondering if I should just close it and transfer the whole line or most of it to freedom. My freedom is already a sig and it'd bring the limit to almost 10k. I use the freedom on its 5% categories only. The extra credit line would help utilization.

I have amazon covered by Sallie so I don't really need it per say. Amazon is a visa sig as well so I'm contemplating that and if its worth the AAoA since its already 1 to 2 years old.

I'm not in a hurry to decide this and I'd thought I get some second opinions.

Thanks!

-Sabre
I see you have closed it, and I think that is a good decision (with the CL transfer). Just note though that in the long term you can't rely on Sallie to cover Amazon (Citi Forward died today for that, sob sob!). But the Chase Amazon card is only 3% anyway, so just 1% more than a general 2% card, and, hopefully, if Sallie dies the Amazon Prime store card will still be doing 5%.

I'll go for the amazon card if Sallie is taken off life support. As for Pen Fed, it looks promising as well. Now all I need is a card to get 5% at Walmart. Pen Fed looks nice too (which is a bonus).Tempted to just go and app for it now.....

Edit: I looked at the requirements for Pen Fed it seems like some hoops to jump through to get the 5%. Anyone know an easy way around this?

Re: Close Chase amazon?

Anonymous — Sun, 05 Jun 2016 04:20:48 GMT

@Anonymous wrote:
@Anonymous wrote:
I see you have closed it, and I think that is a good decision (with the CL transfer). Just note though that in the long term you can't rely on Sallie to cover Amazon (Citi Forward died today for that, sob sob!). But the Chase Amazon card is only 3% anyway, so just 1% more than a general 2% card, and, hopefully, if Sallie dies the Amazon Prime store card will still be doing 5%.
yeah that's on my radar as an emergency go-to if SM is killed off entirely. That's also the main reason I got in with PenFed for the Platinum Rewards card for gas. Now if there was just something comparable for groceries we'd be set. I know Amex BCP is 6% but I only spend about 40-60 per week on groceries so I think overall it would just barely break even with the AF.

At $40 per week on groceries, you'd get roughly $50 a year with the Blue Cash Preferred. At $60/wk in groceries, you'd get roughly $110 a year with the BCP.

Re: Close Chase amazon?

RonM21 — Sun, 05 Jun 2016 17:22:18 GMT

The BCP seems to be a good card, if you put the spend on it in the related categories

Re: Close Chase amazon?

Imperfectfuture — Sun, 05 Jun 2016 22:56:25 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I see you have closed it, and I think that is a good decision (with the CL transfer). Just note though that in the long term you can't rely on Sallie to cover Amazon (Citi Forward died today for that, sob sob!). But the Chase Amazon card is only 3% anyway, so just 1% more than a general 2% card, and, hopefully, if Sallie dies the Amazon Prime store card will still be doing 5%.
yeah that's on my radar as an emergency go-to if SM is killed off entirely. That's also the main reason I got in with PenFed for the Platinum Rewards card for gas. Now if there was just something comparable for groceries we'd be set. I know Amex BCP is 6% but I only spend about 40-60 per week on groceries so I think overall it would just barely break even with the AF.
At $40 per week on groceries, you'd get roughly $50 a year with the Blue Cash Preferred. At $60/wk in groceries, you'd get roughly $110 a year with the BCP.

Note, that is after the annual fee. . The BCE would give you around 62 per year with 40 per week groceries.

Re: Close Chase amazon?

Anonymous — Sun, 05 Jun 2016 23:01:47 GMT

@Imperfectfuture wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I see you have closed it, and I think that is a good decision (with the CL transfer). Just note though that in the long term you can't rely on Sallie to cover Amazon (Citi Forward died today for that, sob sob!). But the Chase Amazon card is only 3% anyway, so just 1% more than a general 2% card, and, hopefully, if Sallie dies the Amazon Prime store card will still be doing 5%.
yeah that's on my radar as an emergency go-to if SM is killed off entirely. That's also the main reason I got in with PenFed for the Platinum Rewards card for gas. Now if there was just something comparable for groceries we'd be set. I know Amex BCP is 6% but I only spend about 40-60 per week on groceries so I think overall it would just barely break even with the AF.
At $40 per week on groceries, you'd get roughly $50 a year with the Blue Cash Preferred. At $60/wk in groceries, you'd get roughly $110 a year with the BCP.
Note, that is after the annual fee. . The BCE would give you around 62 per year with 40 per week groceries.

Both cards (BCE/BCP) might be more appealing now that Sallie Mae isn't available for new apps. That cards always beat the BCE, and with $60 a week on groceries (near the $250 month cap!) you would earn about $150 a year

Re: Close Chase amazon?

Anonymous — Sun, 05 Jun 2016 23:13:17 GMT

@Imperfectfuture wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I see you have closed it, and I think that is a good decision (with the CL transfer). Just note though that in the long term you can't rely on Sallie to cover Amazon (Citi Forward died today for that, sob sob!). But the Chase Amazon card is only 3% anyway, so just 1% more than a general 2% card, and, hopefully, if Sallie dies the Amazon Prime store card will still be doing 5%.
yeah that's on my radar as an emergency go-to if SM is killed off entirely. That's also the main reason I got in with PenFed for the Platinum Rewards card for gas. Now if there was just something comparable for groceries we'd be set. I know Amex BCP is 6% but I only spend about 40-60 per week on groceries so I think overall it would just barely break even with the AF.
At $40 per week on groceries, you'd get roughly $50 a year with the Blue Cash Preferred. At $60/wk in groceries, you'd get roughly $110 a year with the BCP.
Note, that is after the annual fee. . The BCE would give you around 62 per year with 40 per week groceries.

True. I subtracted the annual fee before posting the totals because otherwise it's not a true picture of profits.

Re: Close Chase amazon?

kdm31091 — Sun, 05 Jun 2016 23:50:25 GMT

Personally I think the Chase Amazon card is pretty weak these days considering the 5% options out there. Discover is covering Amazon an entire 6 months this year. While of course that may or may not happen next year, the fact is it makes the Chase card pretty useless for anyone with a Discover. Cash+ and Sallie Mae also do "bookstore'" 5% for amazon (though of course Sallie Mae could be changed up at any point, but so could Cash+). Freedom also covers Amazon at times, and then there's the Amazon store card.

Point is, the Chase Amazon 3% seems like it's unnecessary for most people, and the 2% categories are basically irrelevant since you can get 2% on everything. Chase really needs to boost up this card.