Amazon Prime Store Card switching to points instead of cashback!

[Gregory1776]

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@UpperNwGuy wrote:

Be very afraid.  Unlike cash, points can be devalued.

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Go ahead, Chase. I just got the card, and I dont need it. Ill use PenFed.

[sdsoccerdad]

I haven't received it either.  

[Anonymous]

If I understand this right I like it. I tend to hoard Cashback and points. 

[kberly69]

I got the email today and opened the card in July of this year.

[SGR]

It seems like current card holders can request that they still receive the 5% cash statement instead of being converted to points. It says you can select this option on the account management website but I'm unable to locate the option so far. Here's where it says this in the email I received:

"On or after October 31st, you will automatically start receiving the 5% back benefit as rewards points. Once rewards points are posted to your account (which may take up to two billing cycles), you will have the option to redeem them for eligible purchases at Amazon.com. If you wish to continue redeeming the 5% back in the form of a statement credit, you can do so by choosing this option within the Synchrony Bank online account management page"

[K-in-Boston]

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@SGR wrote:

It seems like current card holders can request that they still receive the 5% cash statement instead of being converted to points. It says you can select this option on the account management website but I'm unable to locate the option so far. Here's where it says this in the email I received:

"On or after October 31st, you will automatically start receiving the 5% back benefit as rewards points. Once rewards points are posted to your account (which may take up to two billing cycles), you will have the option to redeem them for eligible purchases at Amazon.com. If you wish to continue redeeming the 5% back in the form of a statement credit, you can do so by choosing this option within the Synchrony Bank online account management page"

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Woohoo!  If I ever get the email I'll be sure to do that.  I'll assume that will show up on my Rewards tab "on or around October 31st" if they are rolling it out to all cardholders.

[Anonymous]

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@K-in-Boston wrote:

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@Anonymous wrote:

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@K-in-Boston wrote:

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@Dalmus wrote:

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@Anonymous wrote:

idk but i use my card like i stole it and still no CLI, if i get this email i may probably finally close it and just use my Discover

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 If you really use Amazon that much, that'd be silly...   Except for when its a bonus category, you'd only be earning 1% if you use your Discover card.

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+1 and it’s capped at $1500/quarter when it is 5%.  Have you tried calling the overseas Credit Solutions number to request a CLI? For the first 4 years mine grew just a few hundred bucks at a time. One call to CS and it was $12k with a soft pull. 

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Chase Amazon VS is unlimited 5% so I'm sure that's a better alternative. 

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Not necessarily.  Underwriting for Chase can be a concern for some, a CLI with Chase will almost always require a hard inquiry, and the Chase card lacks the very flexible 0% APR offers for new purchases.  The Chase card also has its own set of advantages, too (most obvious being that you can use it anywhere Visa is accepted).

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The underwriting standards are lower for the store card, but for those with scores 640 and above, the Chase Amazon VS is an easy card to obtain. 

Personaly I have both, and I don't utilitze the store card as much as I should. 

[Anonymous]

I usually use my Chase Amazon or Discover for my Amazon purchases. I'm not a huge fan of statements credit and I haven't used my card since about November of last year.

[Cprman]

Got the email today, overall just sort of annoying, but not at all suprising. 

It's a brilliant move really that will instantly make them a ton of money I suspect without really changing the program. 

They note now it may take 2 billing cycles before your points post (just more time for them to keep the money)

By making us actively have to claim your points, Im sure there's a ton of people who will never claim the points and even those that do there will likely more of delay in claiming that money. 

Frankly I was kind of suprised at the instant credit, as most other cards don't do this. 

Here's hoping they don't cap that 5% or devalue, then I'll be really frustrated, such a good card right now. 

[sdsoccerdad]

Just got the letter.  I will stick to the 5% statement credit.