Amazon Store Card vs Amazon Rewards Visa Card

[chalupaman]

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.

[Anonymous]

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. 

[chalupaman]

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@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. 

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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.

[Anonymous]

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.

[Anonymous]

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@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.

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Most store cards are.

[Turbobuick]

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@Anonymous wrote:

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@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.

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Most store cards are.

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@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.

[CreditUnionFan]

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@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.

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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%.