topic Re: Amazon Store Card vs Amazon Rewards Visa Card in Credit Cards

Amazon Store Card vs Amazon Rewards Visa Card

Anonymous — Sun, 23 Nov 2014 19:29:55 GMT

Why does Amazon offer two different kind of credit cards? I noticed that Overstock does this too but the only benefit that I see with the store card over the Visa card is the financing. Otherwise, I get $50 gift card offer for the Visa card vs $40 for the store card and 3% Amazon 2% gas, restaurant, and drugstore on points vs none for the store card.

Re: Amazon Store Card vs Amazon Rewards Visa Card

dapps06 — Sun, 23 Nov 2014 19:43:18 GMT

@Anonymous wrote:
Why does Amazon offer two different kind of credit cards? I noticed that Overstock does this too but the only benefit that I see with the store card over the Visa card is the financing. Otherwise, I get $50 gift card offer for the Visa card vs $40 for the store card and 3% Amazon 2% gas, restaurant, and drugstore on points vs none for the store card.

I had them both, but I recently closed the store card. I couldn't see myself ever using it again while having the Amazon Rewards card as well, 3% cash back beats 0% cash back. They started me with a $600 credit line, after about five months they only bumped it up to $800. I called and asked for a CLI up to 3,000, when they denied me I closed the account.

If you're only going to get one then you should definitely choose the Rewards card.

Re: Amazon Store Card vs Amazon Rewards Visa Card

-Cal- — Sun, 23 Nov 2014 20:30:19 GMT

Amazon Visa actually gives you $70, don't accept the $50 offer. Keep refreshing your cart until you see the $70 offer.

Re: Amazon Store Card vs Amazon Rewards Visa Card

Creditaddict — Sun, 23 Nov 2014 20:35:24 GMT

Amazon.com Store card issued by Sync Bank

Amazon.com Visa Card issued by Chase

Really the only reason to get the store card is the 0% offers on larger purchases or if you don't qualify for the visa as the store card is pretty easy to obtain with low 600 credit scores.

I now have both as I'm obsessed with Amazon and we do AmazonFresh here in SoCal so MUCH money is spent at Amazon and it's been like my long time dream for the Amazon Visa and couldn't get it for the longest time but now have it.... I was approved for the Store card before the visa card and I keep both!

Re: Amazon Store Card vs Amazon Rewards Visa Card

JSS3 — Sun, 23 Nov 2014 21:45:19 GMT

I have and enjoy both. Got the Chase Visa with an initial limit of 4,000 and it was a Visa Signature. Had about 6 months of credit history. That was last year. I fairly recently got the store version. About four months ago. I guess I hustled backwards. LOL

Then I have the Discover and TYP which also accumulate points to spend on Amazon, albeit at lower redemption rates for the TYP. I live on Amazon so every card I get which allows me to save on there is extra special to me. In the future, I'll definitely shoot for the Sallie Mae.

Re: Amazon Store Card vs Amazon Rewards Visa Card

Themanwhocan — Sun, 23 Nov 2014 21:46:09 GMT

@dapps06 wrote:
@Anonymous wrote:
Why does Amazon offer two different kind of credit cards? I noticed that Overstock does this too but the only benefit that I see with the store card over the Visa card is the financing. Otherwise, I get $50 gift card offer for the Visa card vs $40 for the store card and 3% Amazon 2% gas, restaurant, and drugstore on points vs none for the store card.
I had them both, but I recently closed the store card. I couldn't see myself ever using it again while having the Amazon Rewards card as well, 3% cash back beats 0% cash back. They started me with a $600 credit line, after about five months they only bumped it up to $800. I called and asked for a CLI up to 3,000, when they denied me I closed the account.

If you're only going to get one then you should definitely choose the Rewards card.

I prefer the SallieMae MasterCard, because 5% beats 3%.

But for the first $2000 spending per year, the US Bank Cash+ is king. 5% cash back, plus $25 if you wait and redeem $100 or more at one time. That can be as much as 6.25% cash back, which beats 5%.

Re: Amazon Store Card vs Amazon Rewards Visa Card

Anonymous — Sun, 23 Nov 2014 21:54:58 GMT

@Themanwhocan wrote:
@dapps06 wrote:
@Anonymous wrote:
Why does Amazon offer two different kind of credit cards? I noticed that Overstock does this too but the only benefit that I see with the store card over the Visa card is the financing. Otherwise, I get $50 gift card offer for the Visa card vs $40 for the store card and 3% Amazon 2% gas, restaurant, and drugstore on points vs none for the store card.
I had them both, but I recently closed the store card. I couldn't see myself ever using it again while having the Amazon Rewards card as well, 3% cash back beats 0% cash back. They started me with a $600 credit line, after about five months they only bumped it up to $800. I called and asked for a CLI up to 3,000, when they denied me I closed the account.

If you're only going to get one then you should definitely choose the Rewards card.
I prefer the SallieMae MasterCard, because 5% beats 3%.

But for the first $2000 spending per year, the US Bank Cash+ is king. 5% cash back, plus $25 if you wait and redeem $100 or more at one time. That can be as much as 6.25% cash back, which beats 5%.

And for those still with the Citi 5x, no caps! (And if you also have the prestige, then Amazon purchases give you 8c per $ for tickets on AA).

Re: Amazon Store Card vs Amazon Rewards Visa Card

Anonymous — Sun, 23 Nov 2014 22:02:38 GMT

Between the two, I prefer Chase Amazon rewards card more since I don't make a big purchase where I can't pay in full. My preferred Amazon credit card is the Sallie Mae.

Re: Amazon Store Card vs Amazon Rewards Visa Card

Anomalous — Mon, 24 Nov 2014 00:44:40 GMT

You'll notice that a lot of merchants offer a store version and then one connected with a major CC network. I have the Amazon store card but hope to get the Chaze Amazon one day soon.

Re: Amazon Store Card vs Amazon Rewards Visa Card

elim — Mon, 24 Nov 2014 00:53:34 GMT

you can only use the store card at amazon.

Amazon Visa was my "in" with chase with 660 scores

Re: Amazon Store Card vs Amazon Rewards Visa Card

chalupaman — Mon, 24 Nov 2014 01:06:03 GMT

I think both cards are good for different things. Amazon Store card for how quickly the CLs increase and for the special financing offers and the Chase Amazon Visa for the rewards, which I'm still contemplating on getting next year as well. It's a card I've always wanted to have and I think I'd keep both of mine like CreditAddict did. There's also the Sallie Mae MC which you can use to get 5% cashback on Amazon purchases too.

Re: Amazon Store Card vs Amazon Rewards Visa Card

Anonymous — Mon, 24 Nov 2014 01:54:54 GMT

I just looked up the Sallie Mae MasterCard and it's interesting that their 5% cashback on Amazon is not intentional but credited as such because Amazon is counted as a bookstore. I wonder if MasterCard is going to update Amazon's MCC to something else other than bookstore anytime soon. For now, it seems like it's much better than Amazon's own Visa card.

Re: Amazon Store Card vs Amazon Rewards Visa Card

chalupaman — Mon, 24 Nov 2014 01:57:28 GMT

@Anonymous wrote:
I just looked up the Sallie Mae MasterCard and it's interesting that their 5% cashback on Amazon is not intentional but credited as such because Amazon is counted as a bookstore. I wonder if MasterCard is going to update Amazon's MCC to something else other than bookstore anytime soon. For now, it seems like it's much better than Amazon's own Visa card.

Yup. If the card wasn't so difficult to get, I would have gotten it a long time ago. I reconned two times for it to no avail.

Re: Amazon Store Card vs Amazon Rewards Visa Card

Anonymous — Mon, 24 Nov 2014 02:55:25 GMT

The way I see it, the store cards are for people with lesser credit and don't qualify for the VISA/MC versions. Gets the store more customers who wouldn't normally be able to get a real credit card.

I suspect that the store actually subsidizes some of the losses on store cards and have input on the underwriting guidelines for their own store as opposed to the co-branded cards VISA/MC which are probably fully underwritten by the issuing bank.

Re: Amazon Store Card vs Amazon Rewards Visa Card

Anonymous — Mon, 24 Nov 2014 02:58:23 GMT

@Anonymous wrote:
The way I see it, the store cards are for people with lesser credit and don't qualify for the VISA/MC versions. Gets the store more customers who wouldn't normally be able to get a real credit card.

Most store cards are.

Re: Amazon Store Card vs Amazon Rewards Visa Card

Turbobuick — Mon, 24 Nov 2014 05:21:26 GMT

@Anonymous wrote:
@Anonymous wrote:
The way I see it, the store cards are for people with lesser credit and don't qualify for the VISA/MC versions. Gets the store more customers who wouldn't normally be able to get a real credit card.
Most store cards are.

@Anonymous store card is what you get if Amazon asks you during checkout if want to pay interest free on terms. I think the terms start at 6 months @ >$150 and can go to 2 yrs on bigger ticket items. It's a nice deal as long as you don't screw up a payment. The penalty is retro-active interest from date of purchase and the interest rate is a huge number. Auto-pay schedule would be a wise choice.

Re: Amazon Store Card vs Amazon Rewards Visa Card

CreditUnionFan — Sun, 30 Nov 2014 04:12:59 GMT

@Anonymous wrote:
Why does Amazon offer two different kind of credit cards? I noticed that Overstock does this too but the only benefit that I see with the store card over the Visa card is the financing. Otherwise, I get $50 gift card offer for the Visa card vs $40 for the store card and 3% Amazon 2% gas, restaurant, and drugstore on points vs none for the store card.

I use the Amazon store card (Synchrony) when I have a larger purchase that the extra time to pay would be advantageous.

Otherwise, my go-to cards on Amazon are either the personal or business (no longer offered) Visa cards for the 3%.

This quarter though, I'm using Discover or Freedom first, for their 5%.