Posted: 1/28/2014 3:52:48 PM EDT
Worth it?
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Quoted:
Looked into it. The interest rate is awful. The points accrue too slowly. You get $50 off your first purchase. I guess if you pay it off every month and those other things seem beneficial to you go for it. If you pay it off, the interest rate doesn't matter, you get 3% in points, it adds up. I buy all kinds of shit, just since late November I have about $70 in points, both from Amazon and other stuff. Anything I buy online goes on it. |
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I just got one this past month, was looking at a USGI sleeping bag on Amazon from Allegheny outlet for ~$81. Signed up for the Amazon credit card and got a $50 Visa gift card. Brought my total for the complete used (Very Good cond.) sleep system to $31. Deal of the century?
On top of that I got triple points for making that purchase thru Amazon with my Amazon card. Gas and restaurants earn 2x points. I am enjoying this so far. |
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Quoted:
Yep, as long as you pay it off every month Set up autopay, even if you totally forget about your bill it gets paid in full. You can set it up to pull your payment on the last possible day, letting your cash earn interest up to the last minute 
Some months Discover or Chase Freedom have a 5% for online purchases deal, but otherwise it's the cat's pajamas for buying stuff on Amazon. You won't get rich on credit card points, but OTOH you don't get rich leaving free money on the table. Putting all of your purchases on reward cards (except for the rare opportunities for a cash discount) is like getting a 1%-5% raise. |
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The Amazon card has terrible interest but I guess if you pay it off it's okay.
Keep in mind if you go with a card that gives you 5 points on purchases at somewhere like Staples, you can buy Amazon gift cards there and get 5 points back vs. the 3 points you get with the Amazon card. Obviously it is more work this way, but you can nearly double your points if you are smart. |