Amazon Card

[Anonymous]

Hello everyone!

I have been lurking for awhile. I stumbled upon this forum just recently and I wish I would have found this 2 years ago when I was in the worst credit slump of my life.

I have since payed off all my credit cards with the exception of 1 and I'm just $400 shy of $0. I was disappointed to realize my credit score still sucked pretty bad. I went from 490 to 607, just by paying all credit cards off in 2 years, and not using the ones that are still revolving.

I applied for Cabelas, not hoping for approval but I got it, $1k. Then I bought a Mac computer and financed it with a Barclay's card, $2k. My Score jumped 70 points. 

Anyway, this is not a rebuilding question, but an Amazon one: I had an Amazon store card and got approved for $1400. I was young and dumb and maxed it out instantly, with junk, dust gatherers, aka books, etc. I drained my wish list in a matter of weeks. I bought a water flosser and while it was great when I first got it, it is now sitting in a box at a relative's house.  Young and dumb. Get it?

This was one of the cards that unfortunately for me, I was not able to salvage and it got sent to collections. I think the balance was about $1000, maybe $1200. I paid it off with Collections; it was one of the first that I worked on. That was probably late 2014, October ish. Now that I'm rebuilding my score, what are my chances that Amazon would lend to me again?  I tried with JCPenney but was denied. This was another card that went to collections but I have since paid it with collections. This young and dumb business will not repeat itself. 

My ultimate goal is to apply for a travel rewards card and finance a Vegas trip to see King George with my fiancé. 

[Anonymous]

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@Anonymous wrote:

Hello everyone!

I have been lurking for awhile. I stumbled upon this forum just recently and I wish I would have found this 2 years ago when I was in the worst credit slump of my life.

I have since payed off all my credit cards with the exception of 1 and I'm just $400 shy of $0. I was disappointed to realize my credit score still sucked pretty bad. I went from 490 to 607, just by paying all credit cards off in 2 years, and not using the ones that are still revolving.

I applied for Cabelas, not hoping for approval but I got it, $1k. Then I bought a Mac computer and financed it with a Barclay's card, $2k. My Score jumped 70 points. 

Anyway, this is not a rebuilding question, but an Amazon one: I had an Amazon store card and got approved for $1400. I was young and dumb and maxed it out instantly, with junk, dust gatherers, aka books, etc. I drained my wish list in a matter of weeks. I bought a water flosser and while it was great when I first got it, it is now sitting in a box at a relative's house.  Young and dumb. Get it?

This was one of the cards that unfortunately for me, I was not able to salvage and it got sent to collections. I think the balance was about $1000, maybe $1200. I paid it off with Collections; it was one of the first that I worked on. That was probably late 2014, October ish. Now that I'm rebuilding my score, what are my chances that Amazon would lend to me again?  I tried with JCPenney but was denied. This was another card that went to collections but I have since paid it with collections. This young and dumb business will not repeat itself. 

My ultimate goal is to apply for a travel rewards card and finance a Vegas trip to see King George with my fiancé. 

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Welcome to the forum!

I apologize in advance that I'm going to be "that guy", but... you learned a hard lesson, you have somewhat recovered from it (congrats on the new approvals), but you financed a $2000 computer and now want to finance a trip to Vegas? If you are going to ease back into the world of credit you need to do it responsibly. The goal of credit in my view is to have it there if you absolutely need it. 

If I were you, I would:

• Pay off the computer quickly (if you indeed do need a $2000 computer)
• As you work down the Barclays balance, your score recovers and you can app for a couple of new cards
• Get a travel rewards card and SAVE UP for your trip to Vegas
• Fly to Vegas on points + your money that you saved up to go

Not trying to be the bad guy on your first thread, just hoping to help...

To answer your question: are you referring to the Synchrony or the Chase Amazon card? Synchrony will probably forgive your past misdeeds... if it's Chase, forget it as they hold grudges.

[Anonymous]

"Get a travel rewards card and SAVE UP for your trip to Vegas
Fly to Vegas on points + your money that you saved up to go"

THIS. THIS is what I want to do! We are currently saving for it now and it's not going to happen for awhile. 

Your advice is appreciated, so long as you forgive my newbie techniques. I do not know all of the tools of the forum yet, like how to quote. 

And I'm referring to Synchrony.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Hello everyone!

I have been lurking for awhile. I stumbled upon this forum just recently and I wish I would have found this 2 years ago when I was in the worst credit slump of my life.

I have since payed off all my credit cards with the exception of 1 and I'm just $400 shy of $0. I was disappointed to realize my credit score still sucked pretty bad. I went from 490 to 607, just by paying all credit cards off in 2 years, and not using the ones that are still revolving.

I applied for Cabelas, not hoping for approval but I got it, $1k. Then I bought a Mac computer and financed it with a Barclay's card, $2k. My Score jumped 70 points. 

Anyway, this is not a rebuilding question, but an Amazon one: I had an Amazon store card and got approved for $1400. I was young and dumb and maxed it out instantly, with junk, dust gatherers, aka books, etc. I drained my wish list in a matter of weeks. I bought a water flosser and while it was great when I first got it, it is now sitting in a box at a relative's house.  Young and dumb. Get it?

This was one of the cards that unfortunately for me, I was not able to salvage and it got sent to collections. I think the balance was about $1000, maybe $1200. I paid it off with Collections; it was one of the first that I worked on. That was probably late 2014, October ish. Now that I'm rebuilding my score, what are my chances that Amazon would lend to me again?  I tried with JCPenney but was denied. This was another card that went to collections but I have since paid it with collections. This young and dumb business will not repeat itself. 

My ultimate goal is to apply for a travel rewards card and finance a Vegas trip to see King George with my fiancé. 

---

Welcome to the forum!

I apologize in advance that I'm going to be "that guy", but... you learned a hard lesson, you have somewhat recovered from it (congrats on the new approvals), but you financed a $2000 computer and now want to finance a trip to Vegas? If you are going to ease back into the world of credit you need to do it responsibly. The goal of credit in my view is to have it there if you absolutely need it. 

If I were you, I would:

• Pay off the computer quickly (if you indeed do need a $2000 computer)
• As you work down the Barclays balance, your score recovers and you can app for a couple of new cards
• Get a travel rewards card and SAVE UP for your trip to Vegas
• Fly to Vegas on points + your money that you saved up to go

Not trying to be the bad guy on your first thread, just hoping to help...

To answer your question: are you referring to the Synchrony or the Chase Amazon card? Synchrony will probably forgive your past misdeeds... if it's Chase, forget it as they hold grudges.

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Good advice here...

[Anonymous]

Why would you want Amazon store card? It's 26.24% APR. And to get 5% cash back you will need to purchase Prime for $99.99 in one lump sum. I wouldn't recommend Prime for the streaming services. I would recommend this card if you don't plan to carry a balance and plan to spend big to cover the Prime fee.

[Anonymous]

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@Anonymous wrote:

Why would you want Amazon store card? It's 26.24% APR. And to get 5% cash back you will need to purchase Prime for $99.99 in one lump sum. I wouldn't recommend Prime for the streaming services. I would recommend this card if you don't plan to carry a balance and plan to spend big to cover the Prime fee.

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I don't recommend the card because it's with Synchrony.  The card in general though is fantastic.  Amazon sells almost everything a person could need and the Amazon card gives 0% APR for up to 18 months.  It's amazing how many people overlook the benefit of that, or they just don't know it...

[Anonymous]

For people who shop there often Prime is a no-brainer.  In many places deliveries come next day and they've rolled out same day delivery in some places, but even the standard two day is great.  It's wonderful to know that anytime you need or want anything all you have to do is push a button and it shows up in a heartbeat.  I get very frequent use out of mine.

[Anonymous]

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@Anonymous wrote:

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card gives 0% APR for up to 18 months.  It's amazing how many people overlook the benefit of that, or they just don't know it...

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It might attract other people but certainly not me. I'm not the type to purchase anything if I don't have the cash for it. I don't like the idea of long term payments for things that aren't necessary. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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card gives 0% APR for up to 18 months.  It's amazing how many people overlook the benefit of that, or they just don't know it...

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It might attract other people but certainly not me. I'm not the type to purchase anything if I don't have the cash for it. I don't like the idea of long term payments for things that aren't necessary. 

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It's not your thread.  It's OP's thread and you gave incomplete information.

[takeshi74]

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@Anonymous wrote:

Now that I'm rebuilding my score, what are my chances that Amazon would lend to me again?  I tried with JCPenney but was denied. This was another card that went to collections but I have since paid it with collections.

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@Anonymous wrote:

I was disappointed to realize my credit score still sucked pretty bad. I went from 490 to 607, just by paying all credit cards off in 2 years, and not using the ones that are still revolving. 

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 No idea on your odds but if you want to improve then you need to pull your reports, idenitify the issues and work on addressing them.  If you have derogs and lates then you definitely want to work on removing the ones that you can remove.  Carefully research in the Rebuilding subforum before taking action as it is possible to make matters worse in some cases.  As long as you have derogs on your reports they will drag your scores down, impact approvals and even impact the limits and rates that you qualify for.

Make sure you're addressed the causes of what led to this situation.  Make sure you're budgeting and sticking to it.  Pay every statement balance in full.  Build a liquid reserve and don't rely solely on credit for emergences.  Unless you take care of all these things you will not be able to make long term progress.