New Chase Amazon Prime Rewards Card

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#51
I use Amazon all the time and I'm a Prime member. I think I'm going to jump on this. I've been meaning to stop using my debit card for everyday purchases and just put everything on a credit card and pay off the balance every month. My wife and I are very responsible with money, so I'm not concerned about keeping a balance and paying interest. Good idea?
That is basically what I did. I treat my credit card as basically a debit card. The past two years, I had saved up $500 on cash back.
 
#53
I wonder if they will mail new cards with the changes or you just use the old card until its time to replace it and then they'll mail you the new card design.
 
#55
Oh, I didn't know this was added but the amazon visa also has no foreign transaction fees. Maybe that's old news but I didn't know. Pretty great card now.

Edit: Coldpizza already caught this.
 
#62
It's okay, I guess. I still have a card that give 5% back to bookstores and Amazon is categorized as a bookstore for the transaction so I'll just keep the card that I have.
 
#65
If you aren't seeing the upgrade, you need to do this:

Go to Your Account and click Manage Payment Options.
Expand the details of your Amazon Rewards Visa Signature Card. If it says your card could be earning 5% Back, click Learn how.
Enter the complete card number and click Start earning 5% Back.
 
#66
Heads up for everyone who loves their Chase card btw - today's the last day to apply (online, in-person til March) for the Chase Sapphire Rewards card http://www.neogaf.com/forum/showthread.php?t=1322796

It's awesome and you get $1000 back ($1500 if spent through their internal travel site) if you spend 4K in the first 3 months. Annual fee is 450, but the first 300 in Travel is written off each year, and you get a free TSA precheck, so it's really $50 year 1, $150 year 2+.
 
#67
So, I'm a little lacking in credit card knowledge - how do these rewards work? Can you apply them to your bill or is it like a gift card equivalent that you get in return?
 
#70
How do they make money then? Whats the catch?
Credit card companies like Visa, MasterCard, etc., get a cut of every purchase made with that card from the retailer. Banks that oversee lending (e.g., Chase, Santander, Bank of America, etc) and partner with Visa, etc., get a small cut of that profit (which is immense). The banks make the majority of their profit on interest, which many (if not most) people carry from month to month.

If you pay it off every month, as long as there aren't fees on the card (this one has no annual fees), then there is no catch for you. If you don't pay it off every month, then you'll pay a percentage of your balance extra. Let's say you get a 12% APR/APY, that's 1% interest on the balance you carry each month, so if you carry a balance of $100 over 1 month, then you'll have to pay $101.

Lenders like Chase make money on credit cards because a very large percentage of people carry balances, and many of those balances are high, and so for every person like you who may not carry a balance, there's someone like me who carried a ridiculously high balance for 3 months last year as I was hoarding cash for my wedding and charging virtually everything. That 3 months of interest profit they got from me will negate hundreds of months of no profit for you.
 
#72
So, I'm a little lacking in credit card knowledge - how do these rewards work? Can you apply them to your bill or is it like a gift card equivalent that you get in return?
Yes, you can apply them to your bill as a credit. With this card, you can also use the rewards directly on Amazon.com.
 
#75
So, I'm a little lacking in credit card knowledge - how do these rewards work? Can you apply them to your bill or is it like a gift card equivalent that you get in return?
You can use it as a statement credit on your bill or as a payment on Amazon. I'm not entirely sure if you can get it as a gift card.
 
#77
#78
I have an amazon card and I think I'm gonna call and see if I can get mine upgraded. Mine still shows as 3%.
What I did was add the card to manage payment options, and there is a prompt there that asks if you want to upgrade to 5%. All you do is enter your card number again, and it upgrades you to 5 percent. The only thing I'm not sure is if I will get a new card now.
 
#80
It's better to get cash back on the credit statement than use the points for purchases on Amazon, right?

Because you don't get additional points for items that cost $0?
 
#81
Thanks for the tip. I was getting 5 percent with a Prime store credit card, but you can only use that on Amazon. I can now start using my Amazon rewards card again.
 
#84
Are you currently able to apply them to your bill? Because I am not -- can't even see the rewards balance on chase.com

Worked fine before the upgrade
It's probably in flux cause of the upgrade.
Thanks. I actually dont mess with credit cards specifically much at all but i use amazon a lot so this sounds like its up my alley
Rewards card are the truth. They pay you for using them.
 
#85
I have an amazon card and I think I'm gonna call and see if I can get mine upgraded. Mine still shows as 3%.
Try this before you call:

What I did was add the card to manage payment options, and there is a prompt there that asks if you want to upgrade to 5%. All you do is enter your card number again, and it upgrades you to 5 percent. The only thing I'm not sure is if I will get a new card now.
I did this the same way that you did. Right next to where it says 3% there is a "Learn How" button. When you click that, it tells you to verify your card, which is just putting in the full card number.

Presto. 5% back. Amazing for me, since I've had this card for a loooooong time and it has served me very well over the years.
 
#86
Nice, I went to the checkout page and noticed it was different. 5% is much nicer.

Does this apply to orders from Anything on Amazon or does it have to be fulfilled by Amazon? I'm thinking of getting a drone and DJI doesn't charge tax so that's more than the 5%. But if I can use the amazon one that is attached to the DJI store I'd get charged no tax + get the 5% back.

I don't see any specifics on that though.
 
#92
I can confirm it doesn't. At least if you're on the grandfathered 4 member plan. The newer 2 member plan might work since that one does share the Amazon prime video and music features.
Damn, I'll have to get the husband to apply once we can start getting credit cards again. Right now he's just an authorized user on the card, but he's the one with the Prime account.

Can anyone confirm on the 2 member plan though?
 
#94
What I did was add the card to manage payment options, and there is a prompt there that asks if you want to upgrade to 5%. All you do is enter your card number again, and it upgrades you to 5 percent. The only thing I'm not sure is if I will get a new card now.
When my wife called they said the card was already on the way before she even called. Wouldn't hurt to call customer service and see if one is coming or not. Worked out as well, as we got it as our first credit card like 3 years ago with a $500 credit limit which we were able to increase to $2500 and they're putting in a request to lower the APR as well.
 
#95
Wait a minute...



This?

Husband is sharing the grandfathered plan with me, and he's an authorized user on my Amazon credit card. Looks like it worked? Or does it actually need to say Prime?
 
#99
Hmmm, might have to look into this. I use my PayPal rewards card for everything, but 5% back on all Amazon purchases plus $70 GC is very tempting. This would be my 3rd active credit card, which is the max I want. Feel like this is a good one to have though.

Can someone verify if I could use the points to get cash back deposited to my account at any financial institution? I just want to be sure this won't be for Amazon credit only.
 
Wait a minute...



This?

Husband is sharing the grandfathered plan with me, and he's an authorized user on my Amazon credit card. Looks like it worked? Or does it actually need to say Prime?
Expand it and see what it says under reward status, but since it doesn't say prime I don' t think you're upgraded.
 
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