Hi all,
I'm very new to the credit game after finally paying off some issue accounts I had from my 20's, and finally having a good, healthy credit score approaching 800. I'd like to open a new card to further build my credit so I've been doing some research and keep coming back to the Amazon card.
We as a family spend a bit more at Amazon monthly than I'd probably prefer, so the 5% back on Amazon purchases seems like it would be most useful vs. a straight 2% cashback card. I was only planning on using it on things I can afford to pay off immediately, and with Amazon purchases already being built into our monthly budget it seems like a no brainer to me. I figured I would check with the experts here though in case there is a detail I'm overlooking, being so new to this.
Questions about Amazon Chase card vs. flat 2% ashback Card
byu/External_Entry_5746 inCreditCards
Posted by External_Entry_5746
7 Comments
Amazon Chase Prime is a one of a kind card (unless you count BofA ccr), whereas you can get a 2 percent card from a variety of issuers at whatever point you desire
If you are a prime member and shop frequently at Amazon, its a must have card from a rewards perspective
I have the Amazon Visa. I only use it for Amazon purchases and Whole Foods. They do often have really good 5% cash back bonuses on other categories but they are really hard to find. I use my 2% cash back card (Citi) for everything else. I use my Discover card only on the quarterly 5% bonuses.
Not sure what you’re asking exactly, but the card is a no-brainer if you have Amazon Prime and spend any amount of money there. You can actually get 6% back on the majority of purchases by selecting slower shipping at checkout, which is really nice for big ticket items you don’t need immediately.
In addition to the Amazon prime benefits, it will be a 2% card for gas and dining as well as no ftf fees if traveling.
Both are great first options, your reasoning is solid. You may want to hold off on the Amazon card, as the sign up bonus will regularly go from $100-$150 to $250 during special promotions.
If you’re open to **two** cards, I’d get a 2% catch all now, get the sign up bonus (usually $100-$250), and wait for the prime card to hit a $250 sign up bonus. You’d use the 2% card on all purchases that the Amazon card would just get 1% on, a very competent duo.
Without your spending breakdown, there’s no definitive answer for you.
If your Amazon spend is super high in comparison to your other spend that a 2% card would cover, then Amazon is definitely the way to go. You can do the math yourself.
For example, $500/mo Amazon spend and $1000/mo other (2% card) spend. $500*5%=$25 and $1000*2%=$20. In this case the Amazon card would yield more cash back per month. But if your 2% card spending is $1500 (& $500 Amazon), you would be better off with a 2% card.