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Chase Amazon - Thumbs down

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Frequent Contributor

Chase Amazon - Thumbs down

Today I applied for the Chase Amazon Prime card. I got approved for $5k @ 23% and some change. I was like whaaaa? I'm not sure if you guys know this but after I tried to see if there was any reconsideration available on % Rates and got the "There's nothing we can do" (I tried asking all the way up to management) I called the number on the back of my Chase SP card. The CSR moved the newly opened Amazon Prime card $5000 CL to my SP card and close my Amazon card instantly. Though I run my cards at 0% Utilization, 23% apr just doesn't work for me.

 

I wonder if the $70 will still remain on my Amazon Prime account? Hmmmm

 

In my experience this is my personal 2x strikes with Chase. One more I'm out. Though I must say that the reps on the SP side were very nice.






RIP: EECU PLOC | BBVA PLOC | Chase SP | Chase Amazon | Chase Freedom | WF Propel | Cap1 QS | AMEX Gold
42 REPLIES 42
Community Leader
Mega Contributor

Re: Chase Amazon - Thumbs down

Im not a fan myself of Chase and i know another here who has issues with the apr given by Chase even with great scores. They need to work those rates better if they want to keep people such as yourself as a customer.
#ChaseCreditCardHobby Enthusiast
2022
!
Message 2 of 43
Senior Contributor

Re: Chase Amazon - Thumbs down

Chase Amazon gives you 5% back on tens of millions of completely useless plastic chunks of garbage that people are mad to buy with "free shipping".

 

Where do you think Chase gets that 5% to discount the overpriced import junk?  From high APR fees that millions of folks are happy to pay because they got "free shipping" on more clutter.

 

High reward cards require high APRs so that 9 suckers paying 24% will cover the 1 person getting 5%, and the bank investors can buy bigger megayachts with the meager remainder.

Message 3 of 43
Frequent Contributor

Re: Chase Amazon - Thumbs down

ABCD, While I appreciate your opinion on many things, I think you're carrying it a bit far here.

 

In my house, as with many others, if it doesn't come from Wal-Mart, it probably came from Amazon. Christmas presents are now starting to arrive at our house from Amazon.

 

This is a bit like hating on couponers. They're going to buy stuff anyway, and this way, they get some $$ back.

 

Since I can't find the "I'm not using a rewards card, please charge me 5% less" button on any of the checkout screens, the Amazon card is next on my list for DW.

 

Edit: Yes, I know, don't pay interest, folks. That means buy what you can pay off. 

2017-09-09 FICO 08: EQ 677, TU 640, EX 705
2019-09-07 FICO 08: TU 783
2019-09-05 FICO 08: EX 748

Gardening again until... soon(I need to replace my car)

Message 4 of 43
Senior Contributor

Re: Chase Amazon - Thumbs down

I for one purchase a decent amount of "stuff" from Amazon, and I use both an Amazon Prime Card (sync) and the Chase Prime Visa. I also have a Lowes and Sams Club MC (both through Sync) and Home Depot (Citi) - all these cards charge very high APR's, I know that going in and I use them either as pay in full every time I use them or take advantage of 6-12-18-24 month free financing. 

 

Wheather you choose to use Amazon or Walmart for purchases, that's one thing (I for one dislike Target and won't shop there) but blaming the quality of purchases on the APR of their credit card operation or in fact closing a card with a decent/usable credit limit after taking the hard pull seems counter-productive to me. 

 

Note that I have 3 Chase cards, Freedom Unlimited - AARP - Amazon Prime, my "prime" has the lowest credit limit at $5k and I'd have to check to see what the APR is - I pay these cards in full when I use them, don't really care what the APR is....

 

Message 5 of 43
Senior Contributor

Re: Chase Amazon - Thumbs down

I’m batting 1.000 in 2017 so far on financial analysis with Amazon spending. A thrifty shopper probably can find deals there but so far after 4 years of comparison shopping it surely isn’t me.

The trouble with the brand is how easy it is so buy things you don’t need by any stretch of the imagination. 100% of folks who come to me for advice spend literally hundreds a month unnecessarily on amazon.

If you have the option to say no to that style of entertainment, you’re actually in an immeasurable minority. With the web anonymity and privacy no one can “show me your statement history” but I’d definitely ask everyone who thinks they’re budget conscious to go over the past 12 months of amazon spend, printed on paper, and prove it to yourself.

Most people are stunned by the outcome!

Also that 5% works great if you track their price changes and patiently wait for a great deal. Camelcamelcamel.com is a great tool for saving money on amazon!
Message 6 of 43
Frequent Contributor

Re: Chase Amazon - Thumbs down

If I can not leave my house a day, that was a good day.

 

If I can only go to one place when I have to leave the house, that's well... not terrible.

 

I've considered therapy, but that would typically violate both of the above.

2017-09-09 FICO 08: EQ 677, TU 640, EX 705
2019-09-07 FICO 08: TU 783
2019-09-05 FICO 08: EX 748

Gardening again until... soon(I need to replace my car)

Message 7 of 43
Community Leader
Super Contributor

Re: Chase Amazon - Thumbs down


@Ardecko wrote:

If I can not leave my house a day, that was a good day.


Exactly. I think people really underestimate at times how convenient it is to have something that might take some time if you get it yourself to have it sent to you anyways, have 1-2 day free shipping, and get cash back with the right card. While it might not be the absolutely most super efficient way to spend, the convenience factor is something for example my oldest sister who uses my account to buy stuff for my two young nieces appreciates considering we primairly live in a "rural" area.

 

As for me the items I buy more often than not are cheaper enough to get on Amazon without having to take a 45 min car ride to the city to buy it marked up for the same item. So I rather waste 2 mins ordering it online than 2 hours dealing with traffic, shoppers and anything else that may make it a long trip. I'm busy enough at times at the office without having to deal with that bs and make it easier for me and the family and I'll be "happy to pay" it too.

 

And to quickly comment on the original topic if you're cancelling a card because of the APR you're not doing cashback/rewards right.

Message 8 of 43
Frequent Contributor

Re: Chase Amazon - Thumbs down


@simplynoir wrote:

And to quickly comment on the original topic if you're cancelling a card because of the APR you're not doing cashback/rewards right.


I believe the saying is: QFT (quoted for truth)

2017-09-09 FICO 08: EQ 677, TU 640, EX 705
2019-09-07 FICO 08: TU 783
2019-09-05 FICO 08: EX 748

Gardening again until... soon(I need to replace my car)

Message 9 of 43
Established Contributor

Re: Chase Amazon - Thumbs down

After getting my first card with them I just assume chase will give out terrible APRs that scores & profile just dont justify (looking at you 23.99% CSP). We're a pif house so while it strikes me as somewhat insulting at the end of the day it doesn't matter. Will eventually pickup one of the two flavors of amazon cards as we buy a lot from there but at the moment the discover 10% covers it nicely. I dont pretend that amazon is always, or even somewhat frequently cheapest but the convienence factor, speed of free shipping and easy peezy returns make it worthwhile to me instead of checking multiple sites that in the end might save me a couple bucks but wont come as quickly. The return/RMA process is especially handy with the volume of hard drives I purchase and their inherant tendancy to fail or be DOA.

 

We do save a decent amount with their sexist "amazon mom" program (because I, as a stay home dad, apprently dont count or deserve inclusion. J/k, mostly) getting regular autoshipments of diaper and kid essentials at upwards of 20% on top of 10% with disco, but otherwise I like having a central place for lists and registries thats often on par with most prices but with fast shipping. I can certainly see how people without impulse control could spend a lot more on junk they dont need because of "its 5% off" but thats not something we tend to do.

Fico8 (Jan '19) - EQ 699 TU 798 EX 798

Message 10 of 43
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