Discover It pushed out for New Chase Amazon Prime Card

[Anonymous]

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@Anonymous wrote:

I'm a bit late to the party here, so could someone fill me in on this "new" Chase Amazon card compared to the other Amazon card (I believe through Synchrony) that many have?

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Well, there is the obvious difference that the Synchrony is a store card which is only valid at Amazon.  The Chase Amazon card is a Visa that can be used anywhere Visa is accepted.

Chris.

[Anonymous]

For the cards that can be used outside of Amazon, Sallie Mae can only get 5% cash back up to the first $250 spent on Amazon. Discover It or Chase Freedom up to $1,500 per quarter ($500 per month). Chase Amazon Prime Rewards card is unlimited 5% for purchases on Amazon within your credit limit. So if your credit limit is $5k, you could hypothetically get 5% cash back for the full $5,000 limit if you were to spend that much on Amazon in a month.

[Anonymous]

Yes! That is a huge benefit with Discover It. Minimum redemption is $0.01 while Chase Amazon Prime Rewards is $20 worth.

[longtimelurker]

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@Anonymous wrote:
For the cards that can be used outside of Amazon, Sallie Mae can only get 5% cash back up to the first $250 spent on Amazon. Discover It or Chase Freedom up to $1,500 per quarter ($500 per month). Chase Amazon Prime Rewards card is unlimited 5% for purchases on Amazon within your credit limit. So if your credit limit is $5k, you could hypothetically get 5% cash back for the full $5,000 limit if you were to spend that much on Amazon in a month.

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SInce the Sallie Mae dies at the end of next month, it doesn't really matter, but the "bookstore" spend allowed is $750 a month, so greater than Freedom/DIscover IT or even Cash + ($2000 a quarter)   The $250 per month on Sallie Mae is for  the gas and groceries categories

[longtimelurker]

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@Anonymous wrote:
Yes! That is a huge benefit with Discover It. Minimum redemption is $0.01 while Chase Amazon Prime Rewards is $20 worth.

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Yes, if you want cash back.   But you can use any amount as credit on an Amazon purchase.   This loses you 5% on the amount you redeem (making it a 4.95% card) but if your spend rarely gets up to the $20 cash back, it doesn't really matter.

[iced]

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@Anonymous wrote:

With the New Chase Amazon Prime credit card providing unlimited 5% cash back for Amazon purchases, does it make the Discover It card irrelevant during the months of July through December?  That is the time frame when Discover It has Amazon purchases as its rotating 5% category.  The Discover It card has a spend limit of $1,500 per quarter ($500 per month) to get 5% cash back.  

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Choosing between just these two cards I would take the Chase. The 2% back on dining is good and it doesn't cap. If I didn't eat out much, the Discover 5% category would be tempting but it caps too low (unless dining managed to be a category in all 4 quarters). If you don't dine out a lot though, maybe the Discover 5% makes more sense for you.

I spent maybe $10 last year at Amazon so the Amazon-specific perks are meaningless to me. Opposite to the above, if you do shop on Amazon a lot, maybe the perks make it more valuable.

Finally, there's the fact that the Chase has no FTF and is accepted much more widely internationally than Discover. That's a big deal to me but maybe not so much to you.

Like most things credit, it really comes down to your spending habits.

[Anonymous]

How does this card work with a Prime membership?  I'm assuming you need a Prime membership to get the card?  The 5% CB on Amazon purchases would be nice since I do use Amazon quite a bit.  I don't really care about the "second tier" categories that most cards have like the 2% on whatever and 1% on everything else as my 2% general spend daily driver covers all of those categories; I basically only get a card for the top CB category/categories.  But that's just me.

[Anonymous]

One more question about this card.  The thread title suggests that this card hasn't been around for long, but in checking out the credit pulls database for Chase Amazon there is data going back to 2006 on this card?  Was this a different version of the card back then and perhaps a newer version was released recently?  If that's the case, when did the change happen and what's the difference between the "old" and "new" versions of the Chase Amazon if there is such a thing?  I'm trying to determine from the credit pulls database how far I can look back at the data that pertains and is relevant to the current version of the card.

[longtimelurker]

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@Anonymous wrote:

How does this card work with a Prime membership?  I'm assuming you need a Prime membership to get the card?  The 5% CB on Amazon purchases would be nice since I do use Amazon quite a bit.  I don't really care about the "second tier" categories that most cards have like the 2% on whatever and 1% on everything else as my 2% general spend daily driver covers all of those categories; I basically only get a card for the top CB category/categories.  But that's just me.

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There have been lots of threads here about it.   Or go to the source:

https://www.amazon.com/iss/credit/rewardscardmember?bypass=1&

[Anonymous]

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@Anonymous wrote:

How does this card work with a Prime membership?  I'm assuming you need a Prime membership to get the card?  The 5% CB on Amazon purchases would be nice since I do use Amazon quite a bit.  I don't really care about the "second tier" categories that most cards have like the 2% on whatever and 1% on everything else as my 2% general spend daily driver covers all of those categories; I basically only get a card for the top CB category/categories.  But that's just me.

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Yes and no. You apply for the Chase Amazon Visa card. If you have a Prime account, you get automatically upgraded to the Prime card, same as with the Amazon store card.