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DansDeals Forum => Credit Cards => Topic started by: Flying Fish on January 11, 2017, 11:05:07 AM

Title: Amazon launching new 5℅ back card for Amazon purchases
Post by: Flying Fish on January 11, 2017, 11:05:07 AM
http://www.wsj.com/articles/amazon-to-launch-credit-card-for-prime-members-1484136003
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 11, 2017, 11:38:46 AM
Big meh.

Can already get 5% back (and more) by buying GC at drug or office supply stores.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: David Smith on January 11, 2017, 11:50:42 AM
Can already get 5% back (and more) by buying GC at drug or office supply stores.

doesn't equal
Big meh.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: mmgfarb on January 11, 2017, 11:52:39 AM
There are probably people who would be able to milk this for a lot of money and have other ways of maxing out their IP's.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: ariIs on January 11, 2017, 12:38:04 PM
Big meh.

Can already get 5% back (and more) by buying GC at drug or office supply stores.

This is way easier - no going to the store, loading GCs, etc.
Not clear if these are UR points, or 'amazon' points that can only be used for amazon or cash back.
If these are UR points, it's pretty good for a no-annual fee card.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 11, 2017, 12:40:29 PM
There are probably people who would be able to milk this for a lot of money and have other ways of maxing out their IP's.
Yes, there are some people on the planet who, despite having multiple inks per spouse, and multiple blue cash's per spouse,  will still spend over a million bucks a year on 5x categories.

For those people, of whom there are very few, this card may be useful.

To everyone else, big meh. Or perhaps even worse, this amazon card with ear you *less* than some other options.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: 12HRS on January 11, 2017, 12:44:53 PM
per spouse  ;D
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 11, 2017, 12:46:51 PM
This is way easier - no going to the store, loading GCs, etc.
Not clear if these are UR points, or 'amazon' points that can only be used for amazon or cash back.
If these are UR points, it's pretty good for a no-annual fee card.
This card is effectively cash back (as they are Amazon points), it's not UR points.

And buying and loading Amazon credit is going to get even easier at many retailers with Amazon cash loads.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: mmgfarb on January 11, 2017, 12:47:20 PM
And there are some people who are single and only have one IP
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 11, 2017, 12:49:33 PM
And there are some people who are single and only have one IP

Being single is no excuse for having one IP. And not having (multiple) Blue Cash and other 5x cards.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: David Smith on January 11, 2017, 12:50:07 PM
Yes, there are some people on the planet who, despite having multiple inks per spouse, and multiple blue cash's per spouse,  will still spend over a million bucks a year on 5x categories.

For those people, of whom there are very few, this card may be useful.

To everyone else, big meh. Or perhaps even worse, this amazon card with ear you *less* than some other options.
There are some people that don't say "big meh" to something that may be useful to many people just because they have a strategy that works better for their personal tastes and habits.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: mmgfarb on January 11, 2017, 12:50:22 PM
Being single is no excuse for having one IP. And not having (multiple) Blue Cash and other 5x cards.
5/24 + starting too late in this game= one IP
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 11, 2017, 01:05:16 PM
There are some people that don't say "big meh" to something that may be useful to many people just because they have a strategy that works better for their personal tastes and habits.

And my point is that, if one is doing it right, this card *should* be a big meh. Especially for people that are on DDF. Not sure what you're not following.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: David Smith on January 11, 2017, 01:06:55 PM
Right is relative.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 11, 2017, 01:15:17 PM
Right is relative.

That 7.5% > 5% is objective and not really debatable.

Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: NYHeel on January 11, 2017, 02:53:11 PM
Big meh.

Can already get 5% back (and more) by buying GC at drug or office supply stores.
Completely disagree. I don't like buying Amazon stuff on gift cards. I will use gift cards when I get a significant discount like Lowe's Amex offers but I'd much rather have 5% cash back to spend on Amazon over using an ink plus to buy gift cards, even if those points are worth 7.5% back. The credit card protection benefits, lack of cash flow issues, and not having to deal this the hassle are worth the extra 2.5% if a credit card is going to give me 5% value for no hassle or effort. Last week I was going to use a credit card to return a suit I bought on Amazon 2 months ago. Unfortunately when I looked I saw that I bought the suit on a gift card. That's $140 right there. There are other times I've used extended warranties on Amazon purchases. I'd rather use a credit card that has those benefits vs. gift cards that have no benefits.

Plus, the extra 2.5% is only for travel. I do travel but not that much. I already have a lot of Chase points between my wife and I. It's going to take awhile to use those points. Especially since using the Chase points for anything but flights is dicey. Hotels sometimes offer better rates/deals through other sites or I usually use AirBnb when travelling with my family. Costco typically gives me much better rates for car rentals. So figure it will probably take me somewhere in the range of 3-7 years to consume my current balance of Chase points, if not longer. The present value of the 7.5% lowers that number closer to 5%. I'll take the 5% cash that I can use on my next month's Amazon purchases.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: Dan on January 11, 2017, 02:55:39 PM
If you bought a suit 2 months ago then it still qualifies for holiday returns.

Besides, how will the Amazon CC help you with extended returns exactly??

If you want a warranty that will pay out or if you want return protection you won't get help from this card anyway.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: NYHeel on January 11, 2017, 03:14:43 PM
If you bought a suit 2 months ago then it still qualifies for holiday returns.

Besides, how will the Amazon CC help you with extended returns exactly??

If you want a warranty that will pay out or if you want return protection you won't get help from this card anyway.
I checked and it was purchased before the holiday returns on 10/30. Can't return it.

Does the Amazon CC not have extended returns and warranty protection? I'm pretty sure I used the second year warranty before on that card. Wasn't fun but not too terrible either. Had to fill out a few things and send back. If it doesn't have return protection then that may change the equation a bit. I have a possible trip to Hawaii a year from now and a trip to Israel three years from now as our only trips coming up on the horizon.But we already have almost 1 million combined Chase and Amex points. After a while there's some diminishing returns from additional points.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: Dan on January 11, 2017, 03:16:28 PM
No return protection and Chase warranty coverage is a joke compared to AMEX.

Your reasons are sound, but they aren't reasons to use this card.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: NYHeel on January 11, 2017, 03:37:33 PM
No return protection and Chase warranty coverage is a joke compared to AMEX.

Your reasons are sound, but they aren't reasons to use this card.
I've used the Chase warranty coverage twice and it wasn't so bad. Have never used Amex so I don't have a point for comparison. It wasn't an enjoyable experience but it also wasn't ridiculous. I'd put it at a headache but usable. Maybe I'll use gift cards for smaller purchases and an Amex for the larger purchases that may need some protection.

Truth is that I still have about $300 in gift cards from the most recent Lowe's $10 off $50 Amex offer. I used that one to buy $600 in Amazon gift cards for $480.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: JTZ on January 11, 2017, 03:38:43 PM
If it is a 5x card then there is a need to find the loopholes.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: rileywiles23 on January 11, 2017, 03:44:52 PM
Being single is no excuse for having one IP. And not having (multiple) Blue Cash and other 5x cards.
It's got nothing to do with being single.
Alot of people have never had success getting one IP, let alone multiple.

I've tried 4 times over the last 3 years with nothing to show, besides 4 hard inquiries.
Granted I do have a few other 5X card's.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 11, 2017, 06:30:03 PM
Your inability to get an IP is solely on you... or your lack of a legitimate (sounding) business.

Even so, your last line undercuts your point and supports mine.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: Dan on January 11, 2017, 06:35:38 PM
Can still get IC
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 11, 2017, 06:40:23 PM
Completely disagree. I don't like buying Amazon stuff on gift cards. I will use gift cards when I get a significant discount like Lowe's Amex offers but I'd much rather have 5% cash back to spend on Amazon over using an ink plus to buy gift cards, even if those points are worth 7.5% back. The credit card protection benefits, lack of cash flow issues, and not having to deal this the hassle are worth the extra 2.5% if a credit card is going to give me 5% value for no hassle or effort. Last week I was going to use a credit card to return a suit I bought on Amazon 2 months ago. Unfortunately when I looked I saw that I bought the suit on a gift card. That's $140 right there. There are other times I've used extended warranties on Amazon purchases. I'd rather use a credit card that has those benefits vs. gift cards that have no benefits.

Plus, the extra 2.5% is only for travel. I do travel but not that much. I already have a lot of Chase points between my wife and I. It's going to take awhile to use those points. Especially since using the Chase points for anything but flights is dicey. Hotels sometimes offer better rates/deals through other sites or I usually use AirBnb when travelling with my family. Costco typically gives me much better rates for car rentals. So figure it will probably take me somewhere in the range of 3-7 years to consume my current balance of Chase points, if not longer. The present value of the 7.5% lowers that number closer to 5%. I'll take the 5% cash that I can use on my next month's Amazon purchases.

You have some good points, but I still don't agree.

Floating $500 in Amazon credit, given how often I buy from them, is not really a cash flow issue for me.  To the extent it is for you, or others, you can reduce that amount accordingly, depending on the frequency with which you shop there.  Bottom line, given how often people buy groceries, pass by an office supply store or a CVS, one should easily be able to manage having the right amount of Amazon cash on hand to extract better value than Amazon 5%.

Additionally, your Amazon 5x only gets you 5% off at Amazon, whereas Ink 5x gets you a minumum of 5x on *anything* or 7.5% on travel (or on anything based on gray-market value).

With respect to your warranty issue, I simply don't have it.  I only buy things with Amazon GC that are either consumable, perishable, or otherwise not going to be returned.  Anything not fitting those categories gets put on an AmEx. It would not be put on this Amazon card, or any Chase card for that matter.

Finally, there are often ways to get better than 10% off Amazon using 5x cards and stackable offers.  Constraining yourself to using Amazon card leaves substantial amount of money on the table.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 11, 2017, 06:40:54 PM
Can still get IC

Non-sequitur?
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: Dan on January 11, 2017, 06:43:40 PM
Non-sequitur?
For those saying they only managed to get in 1 IP.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: mmgfarb on January 11, 2017, 06:44:24 PM
For those saying they only managed to get in 1 IP.
5/24
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 11, 2017, 06:46:01 PM
For those saying they only managed to get in 1 IP.

He's saying he couldn't even get an IP, so IC, too, is out of reach, for presumably the same reason.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: yitzgar on January 11, 2017, 08:48:34 PM
Your inability to get an IP is solely on you... or your lack of a legitimate (sounding) business.

Even so, your last line undercuts your point and supports mine.
What about 5/24 :(
Can still get IC
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: rileywiles23 on January 11, 2017, 11:48:20 PM
Your inability to get an IP is solely on you... or your lack of a legitimate (sounding) business.


Ouch.
I ain't the best of liars.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 11, 2017, 11:59:34 PM
Nor am I... no one is suggesting lying, certainly not me.

Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: LoLo on January 12, 2017, 12:17:25 AM
What about 5/24 :(
if you have a business profile you get business card pre approvals.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: yitzgar on January 12, 2017, 12:56:42 AM
if you have a business profile you get business card pre approvals.
Online?
Title: Amazon Visa credit card 5% back + 70GC
Post by: davidmal on January 12, 2017, 09:59:25 AM
https://www.amazon.com/dp/BT00LN946S?&_encoding=UTF8&tag=Cl03f-20&linkCode=ur2&linkId=47873fa098efc4a9f63ac4af2b218378&camp=1789&creative=9325

No annual fee.
Title: Re: Amazon Visa credit card 5% back + 70GC
Post by: yuguy on January 12, 2017, 10:02:35 AM
https://www.amazon.com/dp/BT00LN946S?&_encoding=UTF8&tag=Cl03f-20&linkCode=ur2&linkId=47873fa098efc4a9f63ac4af2b218378&camp=1789&creative=9325

No annual fee.

Prime Membership is sort of an annual fee...
Title: Re: Amazon Visa credit card 5% back + 70GC
Post by: Emkay on January 12, 2017, 10:06:02 AM
We will have to wait to see if there is a referral bonus to decide if this card is worth anything.
Title: Re: Amazon Visa credit card 5% back + 70GC
Post by: puddles on January 12, 2017, 01:18:59 PM
We will have to wait to see if there is a referral bonus to decide if this card is worth anything.
I would assume there is not. If it aint on the Master Site... :)
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: puddles on January 12, 2017, 01:19:50 PM
Also, slightly off topic but the Amex Return Protection/Warranty is 1 Billion times better than Chase. They cant even be mentioned in the same sentence. Tried to do a return protection a few weeks ago with the reserve. What a disaster.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: yitzgar on January 12, 2017, 01:43:39 PM
Also, slightly off topic but the Amex Return Protection/Warranty is 1 Billion times better than Chase. They cant even be mentioned in the same sentence. Tried to do a return protection a few weeks ago with the reserve. What a disaster.
Doesn't chase give 4 months instead of amexs 3?
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: David Smith on January 12, 2017, 01:46:46 PM
Doesn't chase give 4 months instead of amexs 3?
You have to ship back item 100% of time at your own cost, and team doesn't know how to handle cases.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: etech0 on January 12, 2017, 01:55:30 PM
You have to ship back item 100% of time at your own cost, and team doesn't know how to handle cases.
And they mail you a check in an unmarked envelope that looks like junk mail. With amex you get a statement credit.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: puddles on January 12, 2017, 02:06:22 PM
And they mail you a check in an unmarked envelope that looks like junk mail. With amex you get a statement credit.
Yup, took me four different calls just to speak to the right person. Who didnt have a clue. Not Worth it. Amex offers and return protection make it worth the fee ten times over.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: etech0 on January 12, 2017, 02:21:56 PM
Yup, took me four different calls just to speak to the right person. Who didnt have a clue. Not Worth it. Amex offers and return protection make it worth the fee ten times over.
absolutely
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: PillanSmye on January 12, 2017, 07:52:51 PM
Big meh.

Can already get 5% back (and more) by buying GC at drug or office supply stores.

It's meh for us credit geeks,  but for Joe Blow general public this card will be a hit.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: PillanSmye on January 12, 2017, 07:54:28 PM
This is way easier - no going to the store, loading GCs, etc.
Not clear if these are UR points, or 'amazon' points that can only be used for amazon or cash back.
If these are UR points, it's pretty good for a no-annual fee card.

What makes you think Amazon wants to give you UR's?  Are there other Chase co-brand cards that give UR's?
Title: Amazon launching new 5℅ back card for Amazon purchases
Post by: ariIs on January 12, 2017, 07:59:23 PM
What makes you think Amazon wants to give you UR's?  Are there other Chase co-brand cards that give UR's?

This is different because it gives back 'cash' as opposed to other cobrands that give points on that brand. The t&c of the reward program mention redeeming for travel as well. However a closer read seems to indicate a fixed 1cpp value - so it's just cash back.

Edit: freedom card is also marketed as 'cash' but gives UR which is what made me think of it.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: PillanSmye on January 12, 2017, 08:13:56 PM
If it is a 5x card then there is a need to find the loopholes.

^^^This
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: PillanSmye on January 12, 2017, 08:16:02 PM
This is different because it gives back 'cash' as opposed to other cobrands that give points on that brand. The t&c of the reward program mention redeeming for travel as well. However a closer read seems to indicate a fixed 1cpp value - so it's just cash back.

Edit: freedom card is also marketed as 'cash' but gives UR which is what made me think of it.

Freedom is a Chase branded card.  UR's are Chase rewards currency.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: David Smith on January 12, 2017, 08:54:43 PM
AARP is cash.
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: AJK on January 12, 2017, 09:02:01 PM
It's meh for us credit geeks,  but for Joe Blow general public this card will be a hit.

I don't post here for the hoi poloi  ;D
Title: Re: Amazon launching new 5℅ back card for Amazon purchases
Post by: mmgfarb on January 12, 2017, 09:30:54 PM
I don't post here for the hoi poloi  ;D
Lol
Title: Amazon Visa - NO FOREIGN TRANSACTION FEE, 5% back for Prime members
Post by: Jack out of the box on January 19, 2017, 04:55:08 AM
Just got this message from Chase.

What's changing?

    Eligible Prime members earn 5% Back on Amazon.com purchases.*
    There are no foreign transaction fees on international purchases made with the Amazon Rewards Visa Signature Card.
    Office Supply Store purchases will earn 1% Back as of June 1, 2017.*

What's not changing?

    Your APR that varies with the Prime Rate (as published in The Wall Street Journal), credit line, and account terms all remain the same.
    You will earn 3% Back on Amazon.com purchases if the Amazon.com account associated with your Amazon Rewards Visa Signature Card does not have an eligible Prime membership.*
    You will continue to earn 2% Back on purchases at restaurants, gas stations, and drugstores, and 1% Back on all other purchases.*

To learn more about the rewards program, please see your Rewards Program Agreement.

IMPORTANT CHANGES TO YOUR ACCOUNT TERMS
This notice provides a summary of changes made to your Cardmember Agreement. The change in the Revised Terms table took effect on January 10, 2017.
Revised Terms, as of January 10, 2017
Foreign Transaction Fee   None

FOREIGN TRANSACTION FEE

This is the change: Your account is no longer subject to a Foreign Transaction Fee.
These are the details: The Foreign Transactions/Fees section or Using your Card - Foreign Transaction Fee and Exchange Rate section, as applicable, no longer applies.

Sincerely,
Cardmember Services
Title: Re: Amazon Visa - NO FOREIGN TRANSACTION FEE, 5% back for Prime members
Post by: Emkay on January 19, 2017, 05:08:22 AM
http://forums.dansdeals.com/index.php?topic=71577.0
Title: Re: Amazon Visa - NO FOREIGN TRANSACTION FEE, 5% back for Prime members
Post by: Jack out of the box on January 19, 2017, 05:15:31 AM
http://forums.dansdeals.com/index.php?topic=71577.0
I searched before I posted but I didn't find that thread. I see that over there they talk about 5% but I didn't find anything about foreign transaction fees. It's nice to see a free card other than Capital One that doesn't have foreign fee.
Title: Re: Amazon Visa - NO FOREIGN TRANSACTION FEE, 5% back for Prime members
Post by: David Smith on January 19, 2017, 09:06:22 AM
Discover doesn't either.
Title: Re: Amazon Visa - NO FOREIGN TRANSACTION FEE, 5% back for Prime members
Post by: Jack out of the box on January 19, 2017, 09:18:25 AM
Discover doesn't either.
True. But I think Visa is accepted in more places. And, Discover seems to take about 1% hidden into the exchange rate.