Chase Amazon V.S. New Options

[UH_HUH]

So I got this email about 10 minutes ago.

It says that you can now choose between rewards,

or pay over time zero % financing.

I will let my bad photography explain this better :-)

[Anonymous]

I've never been a 0% guy, as it just takes away rewards in many cases.  It's like getting 5% off at Lowe's.  I've never used their 0% financing since it would result in giving up the 5%.  Same thing here.  I get it if you're in a financial pinch for the holidays or whatever that such an offer can sound enticing, but I personally never put myself into such a position.

[UH_HUH]

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@Anonymous wrote:

I've never been a 0% guy, as it just takes away rewards in many cases.  It's like getting 5% off at Lowe's.  I've never used their 0% financing since it would result in giving up the 5%.  Same thing here.  I get it if you're in a financial pinch for the holidays or whatever that such an offer can sound enticing, but I personally never put myself into such a position.

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I agree completly @Anonymous 

But I do like trying to understanding WHY they are

trying this new approach. Seems "cheapish" to me.

[ccquest]

Competes with cards like Best Buy where they let you break up that big purchase to avoid being so tight on spending around the holidays probably. Not sure if that's been a feature prior and maybe they're just promoting it now?

[blindambition]

I received the same. Not worth it on most purchases. Also, you're charged full amount affecting utilization on card.

Amazon and Chase long ago removed equal payment plan. You were charged monthly, up to 5 months I believe, but not charged full amount. On Amazon devices.

[UH_HUH]

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@blindambition wrote:

I received the same. Not worth it on most purchases. Also, you're charged full amount affecting utilization on card.

Amazon and Chase long ago removed equal payment plan. You were charged monthly, up to 5 months I believe, but not charged full amount. On Amazon devices.

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That was an impressive feat of credit intellect @blindambition 

^5 <high five> 

:-)

[ccquest]

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@blindambition wrote:

You were charged monthly, up to 5 months I believe, but not charged full amount. On Amazon devices.

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That's still an option through Amazon directly, not based on the card.

That's from the Echo Show product page and here is the linked info page.

[UH_HUH]

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@ccquest wrote:

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@blindambition wrote:

You were charged monthly, up to 5 months I believe, but not charged full amount. On Amazon devices.

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That's still an option through Amazon directly, not based on the card.

That's from the Echo Show product page and here is the linked info page.

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Gotta put on a hat. Getting some serious credit knowlege

dropped in here. Good stuff @ccquest 

[blindambition]

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@ccquest wrote:

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@blindambition wrote:

You were charged monthly, up to 5 months I believe, but not charged full amount. On Amazon devices.

---

That's still an option through Amazon directly, not based on the card.

That's from the Echo Show product page and here is the linked info page.

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That page still shows you're charged full price on purchase, then broken into payments.

It used to charge let's say $125. $25+tax on first payment, remaining was $25 a month, but that $100 wasn't charged at beginning.

[ccquest]

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@blindambition wrote:

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That page still shows you're charged full price on purchase, then broken into payments.

It used to charge let's say $125. $25+tax on first payment, remaining was $25 a month, but that $100 wasn't charged at beginning.

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Not at all?

It says broken into 5 payments on the page then the table shows the due dates of those. Initial payment when it ships (like always, but 1/5 the price), then first (really second, that's misleading) through fourth (actually fifth) payments over the next 4 months.

I guess it depends on your interpretation of:

You will be charged the full price of the qualifying product you selected in one initial payment and four subsequent monthly payments

I read it as the initial AND four more, not as one big initial then splitting it (that makes no sense to me).