topic Re: Comparing Amazon 5% cards in Credit Cards

Comparing Amazon 5% cards

MrDisco99 — Fri, 22 May 2020 15:09:46 GMT

I learned the hard way that the Chase Amazon Visa is now subject to 5/24 rule, which means I won't get approved for a long time, if ever. This got me looking at the other Amazon 5% cards.

There's the Amazon store card, only good at Amazon, which returns 5%. It comes with a $60 Amazon credit. I think it's Synchrony, but not sure.

There's also the Amex Amazon Business card which returns 5% at Amazon, and offers a modest SUB of $125 Amazon credit and a $100 statement credit after $3K of non-Amazon purchases. And it's a business card so it won't add to my X/24.

How does rewards redemption work on each of the three cards? How soon are awards available for redemption and is there a minimum amount? How do additional benefits and customer service experience compare? What are starting limits and CLIs like? I'm asking about the Amex and Synchrony cards for myself, but I would like to see info on the Chase card as well so this could be useful to other users, as well as perhaps provide incentive for me to get below 5/24 so I can get that one.

Re: Comparing Amazon 5% cards

Anonymous — Fri, 22 May 2020 15:22:00 GMT

@MrDisco99 wrote:
I learned the hard way that the Chase Amazon Visa is now subject to 5/24 rule, which means I won't get approved for a long time, if ever. This got me looking at the other Amazon 5% cards.

There's the Amazon store card, only good at Amazon, which returns 5%. It comes with a $60 Amazon credit. I think it's Synchrony, but not sure.

There's also the Amex Amazon Business card which returns 5% at Amazon, and offers a modest SUB of $125 Amazon credit and a $100 statement credit after $3K of non-Amazon purchases. And it's a business card so it won't add to my X/24.

How does rewards redemption work on each of the three cards? How soon are awards available for redemption and is there a minimum amount? How do additional benefits and customer service experience compare? What are starting limits and CLIs like? I'm asking about the Amex and Synchrony cards for myself, but I would like to see info on the Chase card as well so this could be useful to other users, as well as perhaps provide incentive for me to get below 5/24 so I can get that one.

For Chase, rewards are available after statement close. You can redeem them for statement credit, or ACH them to some bank account, plus travel and gift cards. You can also use the points to pay for things at Amazon, but that's not a great use as it prevents you getting the 5% on those purchases.

I got the card years ago (2004) and the SL was $25k, but I expect that things have changed! At that time, it was 3% on Amazon and over time other cards were better there (Citi Forward, Cash+, Sallie Mae were all 5%)

Re: Comparing Amazon 5% cards

kdm31091 — Fri, 22 May 2020 15:26:08 GMT

Anecdotally it seems Amex has tightened up quite a bit on approvals so keep that in mind.

As far as the cards they work essentially the same with Amazon purchases. You get 5%. For both cards you can redeem as statement credit, and I believe shop on Amazon (but really no reason to redeem that way IMO). The Amex has the advantages of a signup bonus plus it does give you 1-2% rewards elsewhere but that is irrelevant when you have better cards for other purchases. The Synchrony card is only usable at Amazon (and maybe Whole Foods, not sure though), but since that's the purpse you're getting it for, not sure it matters.

In the end, they're really similar for their core purpose - Amazon - and it just depends which lender you want to deal with.

As far as the Chase card it's basically the same as the Amex, I think the rewards are almost identical 5/2/1% and again not much reason to use outside of Amazon so on its own I don't think it's worth dropping below 5/24 for.

Re: Comparing Amazon 5% cards

wasCB14 — Fri, 22 May 2020 15:27:26 GMT

If you have eligible BofA accounts, you might consider an additional Cash Rewards card for up to 5.25% on online shopping with a $2500 quarterly cap.

Re: Comparing Amazon 5% cards

digitek — Fri, 22 May 2020 15:35:37 GMT

Sup Disco,

I have the Amex Business Amazon Prime card and dig it. First and most important is that it is Amex Business and not Synchrony. I've found Amex business cards to have really good customer support, they are different than consumer cards (which is already pretty good at Amex). It offers 5% off or 0% financing like the Synchrony card, and I'm pretty sure Chase added 0% financing option to their version, too. You get Amex offers with the Amex card, but the Chase and Synchrony ones sometimes get special offers at Amazon just for those cards.

The Amex one doesn't show up on personal credit report which can be good or bad depending on how you see it. Personally I like a slimmer personal report, but you won't get any advantages like increased total credit to help with util or a card to age with good history on there. It does allow you to get some business credit history which could be helpful if you ever needed it.

It helps if you already have an Amex because you can snag it with no negative impact to your personal credit, like nothing happened at all. They will SP for the app and it goes on business credit file so no new account, no hit from lowering AAoA, new inquiry, or new recent account.

You get points when statement cuts and they are immediately available, no minimum redemption I think. The point balance is viewable when you check out on Amazon and you can easily apply them to your order. Initial limits are good and CLI is standard Amex style, SP up until their internal limit where they hit you with FR.

Only downside is that it is a super cool card, neat black sheen with blue lettering (one of my fave color combos) and its heavy and metal, but I don't have a reason to carry it or use it outside Amazon purchases so it sees no real world usage 😅

Re: Comparing Amazon 5% cards

Anonymous — Fri, 22 May 2020 15:41:00 GMT

@kdm31091 wrote:
The Synchrony card is only usable at Amazon (and maybe Whole Foods, not sure though),

Don't think the Sync card can be used at Whole Foods, but you can buy Whole Foods gift cards on Amazon (and Safeway, Albertsons etc) and get the 5% that way.

Re: Comparing Amazon 5% cards

imaximous — Fri, 22 May 2020 16:32:55 GMT

I use the 3 cards. My favorite is the Chase version, then Amex and Sync last. Here's why:

Chase Amazon has the most versatility. It allows transferring your cashback to a bank account and use it however you want, which you can't do with Amex or Sync.

ETA: If you're buying for business, there are some tax related reasons why you'd want to transfer your cashback to a bank account rather than use statement/purchase credits.

Amex is great for business, but the redemption process can be aggravating. Aside from using your points on Amazon.com, which is never recommended, the only other way to use your points is by covering posted purchases. It doesn't even allow a simple statement credit with your points. Amex makes you go through your purchases and apply your points individually. You HAVE to have enough points to cover an entire purchase. There's no partial redemptions, which is another big annoyance. Let's say you have $100 worth of points and there's a posted purchase for $101. Oh tough luck. You can't use your points because you need enough to cover the whole amount.

If you make several purchases, then you have to play the math puzzle game and start adding your purchases in different ways to get them as close as possible to your total points. This is time consuming and you always leave points on the table till next time.

This is typical Amex making your life more difficult with their credits.

On the plus side, Amex is pretty flexible with the CL. I've been able to charge almost double its limit, which you can't do with the other 2 cards. Not sure how much of a limit you need, but it can grow quickly.

Sync is right in between for redemptions. You can't transfer your cashback to a bank, but you can apply it as a statement credit. But, I wouldn't trust Sync to deal any customer service related issues. That's just my personal perception of Sync in general.

It comes down to what you need the card for, and how much you're going to use it and spend on it. I charge a lot so I have to use all 3 because I run out of credit frequently.

Re: Comparing Amazon 5% cards

K-in-Boston — Fri, 22 May 2020 16:20:08 GMT

@Anonymous wrote:
@kdm31091 wrote:
The Synchrony card is only usable at Amazon (and maybe Whole Foods, not sure though),
Don't think the Sync card can be used at Whole Foods, but you can buy Whole Foods gift cards on Amazon (and Safeway, Albertsons etc) and get the 5% that way.

The card can't be used in-store at Whole Foods, but Whole Foods and Amazon Fresh orders placed online through Amazon's site earn 5% on the card with Prime membership. Mine has been getting heavy use the past 2 months.

To answer an earlier question, Synchrony makes the rewards available at statement close which you can apply as a statement credit (takes a few days to reflect) or you can use it immediately to shop on Amazon (slightly reducing the 5% net since you don't earn rewards on the redeemed amount).

Edit: In reponse to the customer service issue, I have needed to call CS exactly once in the 8 years I have had my card when my card was charged for an Amazon order that was not mine. They were friendly and helpful, immediately helped me link my new card number to my Amazon account so I wouldn't need to wait for the replacement card to arrive, and immediately removed the fraudulent charge from my statement.

Re: Comparing Amazon 5% cards

Wavester64 — Fri, 22 May 2020 16:41:51 GMT

@digitek wrote:
Sup Disco,

I have the Amex Business Amazon Prime card and dig it. First and most important is that it is Amex Business and not Synchrony. I've found Amex business cards to have really good customer support, they are different than consumer cards (which is already pretty good at Amex). It offers 5% off or 0% financing like the Synchrony card, and I'm pretty sure Chase added 0% financing option to their version, too. You get Amex offers with the Amex card, but the Chase and Synchrony ones sometimes get special offers at Amazon just for those cards.

The Amex one doesn't show up on personal credit report which can be good or bad depending on how you see it. Personally I like a slimmer personal report, but you won't get any advantages like increased total credit to help with util or a card to age with good history on there. It does allow you to get some business credit history which could be helpful if you ever needed it.

It helps if you already have an Amex because you can snag it with no negative impact to your personal credit, like nothing happened at all. They will SP for the app and it goes on business credit file so no new account, no hit from lowering AAoA, new inquiry, or new recent account.

You get points when statement cuts and they are immediately available, no minimum redemption I think. The point balance is viewable when you check out on Amazon and you can easily apply them to your order. Initial limits are good and CLI is standard Amex style, SP up until their internal limit where they hit you with FR.

Only downside is that it is a super cool card, neat black sheen with blue lettering (one of my fave color combos) and its heavy and metal, but I don't have a reason to carry it or use it outside Amazon purchases so it sees no real world usage 😅

@MrDisco99

+1 to everything @digitek said

Re: Comparing Amazon 5% cards

Citylights18 — Fri, 22 May 2020 16:42:14 GMT

How about something like Amazon Prime video?

I have Amazon Fire TV and Amazon Prime. All my streaming charges show up as an Amazon Prime purchase. My thought was I could put them on a Chase Amazon card but I might be blocked by 5/24. Does Amazon Synchrony give 5% back on Amazon Prime video?

Re: Comparing Amazon 5% cards

MrDisco99 — Fri, 22 May 2020 17:02:40 GMT

@imaximous wrote:
...the only other way to use your points is by covering posted purchases. It doesn't even allow a simple statement credit with your points. Amex makes you go through your purchases and apply your points individually. You HAVE to have enough points to cover an entire purchase. There's no partial redemptions, which is another big annoyance. Let's say you have $100 worth of points and there's a posted purchase for $101. Oh tough luck. You can't use your points because you need enough to cover the whole amount.
If you make several purchases, then you have to play the math puzzle game and start adding your purchases in different ways to get them as close as possible to your total points. This is time consuming and you always leave points on the table till next time.
This is typical Amex making your life more difficult with their credits.

Wow... that's really annoying. And yes, typical Amex being difficult.

At least they are available when statement posts as opposed to having to wait another month like their cash back cards... right?

Re: Comparing Amazon 5% cards

PullingMeSoftly — Fri, 22 May 2020 17:43:54 GMT

@MrDisco99 I really like my Affinity FCU Cash Rewards card which is a 5% Amazon card. On top of that, it's a 5% quarterly rotator as well:

5% at all bookstores, including Amazon (but not limited to books)

2% restaurants, gas, groceries

$200 SUB ($3k/90)

No FTF

The additional 5% rotating categories are ON TOP of the existing %'s. So Q4 gets 10% back on Amazon.

Current quarter is groceries, gas, and home entertainment, so total Q2 is 7% on gas and groceries.

Re: Comparing Amazon 5% cards

imaximous — Fri, 22 May 2020 17:49:57 GMT

@MrDisco99 wrote:
@imaximous wrote:
...the only other way to use your points is by covering posted purchases. It doesn't even allow a simple statement credit with your points. Amex makes you go through your purchases and apply your points individually. You HAVE to have enough points to cover an entire purchase. There's no partial redemptions, which is another big annoyance. Let's say you have $100 worth of points and there's a posted purchase for $101. Oh tough luck. You can't use your points because you need enough to cover the whole amount.
If you make several purchases, then you have to play the math puzzle game and start adding your purchases in different ways to get them as close as possible to your total points. This is time consuming and you always leave points on the table till next time.
This is typical Amex making your life more difficult with their credits.

Wow... that's really annoying. And yes, typical Amex being difficult.

At least they are available when statement posts as opposed to having to wait another month like their cash back cards... right?

Mmm not quite. You do have to make at least your minimum payment for the points to post -- like MRs. I don't have any other Amex cashback cards, but I know what you're talking about.

So, when my statement is generated, I make a small payment right away to get my points. That takes another day or two approx. Once the points show up, I start the puzzle game using as many as possible. Then, I pay off the balance before due date. Rinse and repeat every month.

Re: Comparing Amazon 5% cards

MrDisco99 — Fri, 22 May 2020 18:13:50 GMT

@PullingMeSoftly wrote:
@MrDisco99 I really like my Affinity FCU Cash Rewards card which is a 5% Amazon card. On top of that, it's a 5% quarterly rotator as well:

5% at all bookstores, including Amazon (but not limited to books)
2% restaurants, gas, groceries
$200 SUB ($3k/90)
No FTF

The additional 5% rotating categories are ON TOP of the existing %'s. So Q4 gets 10% back on Amazon.
Current quarter is groceries, gas, and home entertainment, so total Q2 is 7% on gas and groceries.

That sounds amazing...

Any considerations for qualifying at Affinity FCU? How does cash back work?

Re: Comparing Amazon 5% cards

PullingMeSoftly — Fri, 22 May 2020 18:50:25 GMT

@MrDisco99 wrote:
@PullingMeSoftly wrote:
@MrDisco99 I really like my Affinity FCU Cash Rewards card which is a 5% Amazon card. On top of that, it's a 5% quarterly rotator as well:

5% at all bookstores, including Amazon (but not limited to books)
2% restaurants, gas, groceries
$200 SUB ($3k/90)
No FTF

The additional 5% rotating categories are ON TOP of the existing %'s. So Q4 gets 10% back on Amazon.
Current quarter is groceries, gas, and home entertainment, so total Q2 is 7% on gas and groceries.
That sounds amazing...

Any considerations for qualifying at Affinity FCU? How does cash back work?

Affinity is based in the New Jersey area but has a donation option for those out of geo. From the eligibility page on their website:

"There are 4 paths to membership. You are eligible to apply if you meet at least ONE of the following:

You live, work, worship or go to school in select New Jersey or Connecticut communities
- New Jersey- parts of Edison, Franklin Township (Somerset County), New Brunswick, North Brunswick, Piscataway
- Connecticut - all of Norwalk, Darien, New Canaan, Weston, Westport, Wilton
You're employed by (or affiliated with) one of our partner organizations. (Eligibility list available)
Another member of your family or household is an existing Affinity member.
You make a $5 donation to support financial literacy and become a member of the New Jersey Coalition for Financial Education (NJCFE) or Connecticut Jump$tart. (Your donation will be processed as part of your membership application)"

For cash back you can do a cashier's check, Visa gift card, statement credit, or my preference, savings or checking deposit.

Re: Comparing Amazon 5% cards

Anonymous — Fri, 22 May 2020 18:53:49 GMT

@PullingMeSoftly wrote:
@MrDisco99 wrote:
@PullingMeSoftly wrote:
@MrDisco99 I really like my Affinity FCU Cash Rewards card which is a 5% Amazon card. On top of that, it's a 5% quarterly rotator as well:

5% at all bookstores, including Amazon (but not limited to books)
2% restaurants, gas, groceries
$200 SUB ($3k/90)
No FTF

The additional 5% rotating categories are ON TOP of the existing %'s. So Q4 gets 10% back on Amazon.
Current quarter is groceries, gas, and home entertainment, so total Q2 is 7% on gas and groceries.
That sounds amazing...

Any considerations for qualifying at Affinity FCU? How does cash back work?

Affinity is based in the New Jersey area but has a donation option for those out of geo. From the eligibility page on their website:
"There are 4 paths to membership. You are eligible to apply if you meet at least ONE of the following:
You live, work, worship or go to school in select New Jersey or Connecticut communities
New Jersey- parts of Edison, Franklin Township (Somerset County), New Brunswick, North Brunswick, Piscataway
Connecticut - all of Norwalk, Darien, New Canaan, Weston, Westport, Wilton
You're employed by (or affiliated with) one of our partner organizations. (Eligibility list available)
Another member of your family or household is an existing Affinity member.
You make a $5 donation to support financial literacy and become a member of the New Jersey Coalition for Financial Education (NJCFE) or Connecticut Jump$tart. (Your donation will be processed as part of your membership application)"
For cash back you can do a cashier's check, Visa gift card, statement credit, or my preference, savings or checking deposit.

Looks like the 5% is limited to $3500 a month in purchases, but that is pretty generous

Re: Comparing Amazon 5% cards

Anonymous — Fri, 22 May 2020 18:56:01 GMT

@Anonymous wrote:
@PullingMeSoftly wrote:
@MrDisco99 wrote:
@PullingMeSoftly wrote:
@MrDisco99 I really like my Affinity FCU Cash Rewards card which is a 5% Amazon card. On top of that, it's a 5% quarterly rotator as well:

5% at all bookstores, including Amazon (but not limited to books)
2% restaurants, gas, groceries
$200 SUB ($3k/90)
No FTF

The additional 5% rotating categories are ON TOP of the existing %'s. So Q4 gets 10% back on Amazon.
Current quarter is groceries, gas, and home entertainment, so total Q2 is 7% on gas and groceries.
That sounds amazing...

Any considerations for qualifying at Affinity FCU? How does cash back work?

Affinity is based in the New Jersey area but has a donation option for those out of geo. From the eligibility page on their website:
"There are 4 paths to membership. You are eligible to apply if you meet at least ONE of the following:
You live, work, worship or go to school in select New Jersey or Connecticut communities
New Jersey- parts of Edison, Franklin Township (Somerset County), New Brunswick, North Brunswick, Piscataway
Connecticut - all of Norwalk, Darien, New Canaan, Weston, Westport, Wilton
You're employed by (or affiliated with) one of our partner organizations. (Eligibility list available)
Another member of your family or household is an existing Affinity member.
You make a $5 donation to support financial literacy and become a member of the New Jersey Coalition for Financial Education (NJCFE) or Connecticut Jump$tart. (Your donation will be processed as part of your membership application)"
For cash back you can do a cashier's check, Visa gift card, statement credit, or my preference, savings or checking deposit.
Looks like the 5% is limited to $3500 a month in purchases, but that is pretty generous

It's extremely generous considering the selection of gift cards Amazon sells.

Re: Comparing Amazon 5% cards

Citylights18 — Fri, 22 May 2020 19:35:40 GMT

I spoke with them. Didn't hear anything about the geofence only that you needed to open a checking account with them (as you do with most every credit union).

It does sound pretty great for a cash back rotator. That 5% cash back on Amazon doesn't go away if you feel you don't need Prime at some point. I'm not sure going after the SUB on this one as its only $200 for 3,000 spend.

A I found a link to the categories for 2020 below:

https://www.affinityfcu.com/special-offers/hi-5.aspx

Re: Comparing Amazon 5% cards

kdm31091 — Fri, 22 May 2020 19:53:53 GMT

Oh boy, I sense another CU being flooded in the near future

There are many options for 5% Amazon but I guess it's another decent one. The 2/1% categories don't mean much but the 5% and the SUB are decent.

Re: Comparing Amazon 5% cards

Anonymous — Fri, 22 May 2020 20:15:39 GMT

@kdm31091 wrote:
Oh boy, I sense another CU being flooded in the near future

There are many options for 5% Amazon but I guess it's another decent one. The 2/1% categories don't mean much but the 5% and the SUB are decent.

I don't think this one will put up with the flood. There have already been a number of people denied membership for being out of area, even with the donation. @Anonymous actually had to get into it with them.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Affinity-FCU-application/m-p/6019822/highlight/true#M679677

https://www.doctorofcredit.com/ia-only-affinity-federal-credit-union-credit-card-200-bonus-5-on-bookstores-including-amazon/