Seasider Posted December 19, 2014 Share Posted December 19, 2014 That credit card offer at checkout is sooooooo tempting, especially this year when things are really tight for Christmas. Have any of you done this? Gotten the credit card at checkout then immediately cancelled the card? I feel rather juvenile asking, but hey, seventy bucks... Quote Link to comment Share on other sites More sharing options...
QueenCat Posted December 19, 2014 Share Posted December 19, 2014 I have one but I kept it. You earn points from your purchases. Most months, I have about $20 worth of points to use on Amazon. I kind of doubt you'd be able to immediately cancel the card. Quote Link to comment Share on other sites More sharing options...
SKL Posted December 19, 2014 Share Posted December 19, 2014 I always pass on the offer. I don't want or need another credit card. Maybe I'm stupid but I'm OK with that. Quote Link to comment Share on other sites More sharing options...
mom2samlibby Posted December 19, 2014 Share Posted December 19, 2014 I have the amazon credit card and that is my primary card. I use it for everything and the points that come from it are pretty nice. I just redeemed $45 in points today. Quote Link to comment Share on other sites More sharing options...
QueenCat Posted December 19, 2014 Share Posted December 19, 2014 I always pass on the offer. I don't want or need another credit card. Maybe I'm stupid but I'm OK with that. You aren't stupid......... actually, from past experience, you are far from it :) I do have an Amazon one but I do keep store cards to a minimum. I think I have a total of three, including Amazon, and I have them as they hold a value to me, mostly in terms of savings. I don't think I'd get a card for a one time savings though. And then cancel it, as that wouldn't look that great on my credit report. Quote Link to comment Share on other sites More sharing options...
Seasider Posted December 19, 2014 Author Share Posted December 19, 2014 I always pass on the offer. I don't want or need another credit card. Maybe I'm stupid but I'm OK with that. This is my usual default reaction! I just had to stop and consider it this time, though. FWIW, if I were still ordering a boatload of schooling books and materials, I might consider it for the points. But I'm mostly into nonconsumable materials for just one student now, so I'd rather not have to keep track of anything. But yeah, $70..... they almost caught me. Quote Link to comment Share on other sites More sharing options...
JFSinIL Posted December 19, 2014 Share Posted December 19, 2014 Our Amazon Visa has been our sole card for years, and we get about $600 a year in FREE stuff by using it even for groceries, etc - and paying in full each month so no fees. Whether you use a card to get points from Amazon, or dollars for Disney, or airline miles - you have to pick ONE card and use it solely in order to rack up the benefits. So - go ahead and get the card IF it will be your only credit card. Quote Link to comment Share on other sites More sharing options...
Guest Posted December 19, 2014 Share Posted December 19, 2014 I have it and I love it because it drives me insane to have all those little charges on my checking account. I pay Amazon once a month and my checkbook is much easier to balance. Quote Link to comment Share on other sites More sharing options...
Tess in the Burbs Posted December 19, 2014 Share Posted December 19, 2014 Don't do it. I think it was last year I wanted something $20 over my budget for Dh's gift. Don't ask me how much is on that card now. Just don't do it. It's not worth the extra you get. It's not. I wish I hadn't gotten the stupid card. Quote Link to comment Share on other sites More sharing options...
Seasider Posted December 19, 2014 Author Share Posted December 19, 2014 Our Amazon Visa has been our sole card for years, and we get about $600 a year in FREE stuff by using it even for groceries, etc - and paying in full each month so no fees. Whether you use a card to get points from Amazon, or dollars for Disney, or airline miles - you have to pick ONE card and use it solely in order to rack up the benefits. So - go ahead and get the card IF it will be your only credit card. Right now we are trying to stay cc-free, but I do have one store card that has gotten my kids through changes of season the past couple of years! So I guess I really want to whittle that off first. Perhaps I will revisit this method later in 2015. Sounds like it's worked well for you! Quote Link to comment Share on other sites More sharing options...
gardenmom5 Posted December 19, 2014 Share Posted December 19, 2014 no. I have no interest in an amazon card. if you cancel a credit card - it will show up on your credit report - and not in a good way. (we use ccs, and have no problem with it - there are advantages that are much more than convenience - but we control where he have them.) Quote Link to comment Share on other sites More sharing options...
monstermama Posted December 19, 2014 Share Posted December 19, 2014 I wouldn't get it and immediately cancel it. We have the card and and love the rewards, but we shop a lot at Amazon (subscribe & save, plus gifts) and never carry a balance. If you rarely shop there or have a lot of other credit cards, it's probably not worth it. Quote Link to comment Share on other sites More sharing options...
SparklyUnicorn Posted December 19, 2014 Share Posted December 19, 2014 I have the store card. I use it for the free finance periods. Quote Link to comment Share on other sites More sharing options...
Katy Posted December 19, 2014 Share Posted December 19, 2014 If you're the type of person who can make sure you either pay it off immediately and cancel OR pay monthly and keep it, it could be great. I have a friend who signs up for every store card come Christmas, pays it off immediately and then cancels it. She's got great credit, but she says that's because she's had two charge accounts for twenty years and closes all the other cards. I think your credit rating depends on average length of open revolving accounts, not ones that were closed after 22 days. Quote Link to comment Share on other sites More sharing options...
Pawz4me Posted December 19, 2014 Share Posted December 19, 2014 A rewards card can be a very good thing. If you are disciplined with your purchases and pay the balance off every month so that you don't incur interest charges. Both DH and I have cash back rewards cards where we "earn" back a percentage of every single purchase. We put everything on the cards and save many hundreds of dollars a year. I wouldn't get a card that only earns points for Amazon purchases, no matter how good the initial deal. I'd get one that earns cash back rewards for every purchase no matter where it's made. Quote Link to comment Share on other sites More sharing options...
Zuzu822 Posted December 20, 2014 Share Posted December 20, 2014 A rewards card can be a very good thing. If you are disciplined with your purchases and pay the balance off every month so that you don't incur interest charges. Both DH and I have cash back rewards cards where we "earn" back a percentage of every single purchase. We put everything on the cards and save many hundreds of dollars a year. I wouldn't get a card that only earns points for Amazon purchases, no matter how good the initial deal. I'd get one that earns cash back rewards for every purchase no matter where it's made. The Amazon Visa does give rewards on all purchases, it's just higher for Amazon. 3% for Amazon, 2% for gas, drugstores, and...something else, and 1% for all others. I have an Amazon card I use now and then for books or curriculum or gifts for DH and pay off immediately. The rewards do add up! Otherwise, we have another card with cash back rewards we use for expenses and also pay it off every month. Note, that Amazon also has a store card only that offers the financing perk that Sparkly mentioned. :) Quote Link to comment Share on other sites More sharing options...
BlsdMama Posted December 20, 2014 Share Posted December 20, 2014 That credit card offer at checkout is sooooooo tempting, especially this year when things are really tight for Christmas. Have any of you done this? Gotten the credit card at checkout then immediately cancelled the card? I feel rather juvenile asking, but hey, seventy bucks... Dangerous. :) The Visa is backed by Chase ?? I think... The store card is backed by Synchrony / GE. GE is amazingly generous. ;) Honestly, don't get it and cancel it. It affects your age of accounts. If you're going to take a hard inquiry on your credit report, get the card, then keep it. You use it every few months then keep it in your sock drawer. That's all. Needless to say I like Amazon. I also like GE. They're a good company, generous with their limits, and have a very good interest rate as long as you buy in large purchases, lol. Quote Link to comment Share on other sites More sharing options...
tori@thehomefront Posted December 20, 2014 Share Posted December 20, 2014 Kind of off topic, but maybe someone can help me. We have the amazon card for points, but none are showing up. Do you have to let your purchases stay on the balance until the next bill comes before the amounts count toward points? I've been paying ours off as soon as a charge processes, because we don't want to run up a big bill. Quote Link to comment Share on other sites More sharing options...
forty-two Posted December 20, 2014 Share Posted December 20, 2014 Kind of off topic, but maybe someone can help me. We have the amazon card for points, but none are showing up. Do you have to let your purchases stay on the balance until the next bill comes before the amounts count toward points? I've been paying ours off as soon as a charge processes, because we don't want to run up a big bill. As far as I can tell, the points show up a few days after the "pay at least the minimal payment by "x" date" day. So let's say the statement has charges 10/15 to 11/14, and the payment is due on 12/12. The points from the purchases made between 10/15 and 11/14 will show up during the week after 12/12 (maybe 3-4 days). So it can be a full two months from the time a charge is made to the time the points are credited. As far as I can tell, the points are credited after the payment due date - it doesn't matter when you actually make the payment. Quote Link to comment Share on other sites More sharing options...
Forget-Me-Not Posted December 20, 2014 Share Posted December 20, 2014 I have the one with points too. I only use it for Amazon. And I use the points for something fun once in a while. The downside is that I get to see exactly what I spend at Amazon every month. It's not mixed in with other purchases :D Quote Link to comment Share on other sites More sharing options...
Seasider Posted December 20, 2014 Author Share Posted December 20, 2014 Thanks for all the feedback! Quote Link to comment Share on other sites More sharing options...
SweetIrony Posted December 20, 2014 Share Posted December 20, 2014 Honestly, don't get it and cancel it. It affects your age of accounts. If you're going to take a hard inquiry on your credit report, get the card, then keep it. You use it every few months then keep it in your sock drawer. That's all. I did get one this year for the $70, and this is exactly what I did with it... it is in my sock drawer! Quote Link to comment Share on other sites More sharing options...
tori@thehomefront Posted December 21, 2014 Share Posted December 21, 2014 As far as I can tell, the points show up a few days after the "pay at least the minimal payment by "x" date" day. So let's say the statement has charges 10/15 to 11/14, and the payment is due on 12/12. The points from the purchases made between 10/15 and 11/14 will show up during the week after 12/12 (maybe 3-4 days). So it can be a full two months from the time a charge is made to the time the points are credited. As far as I can tell, the points are credited after the payment due date - it doesn't matter when you actually make the payment. Thank you for clearing that up for me! I was beginning to worry that I had done something wrong in trying to earn points, lol. :) Quote Link to comment Share on other sites More sharing options...
QueenCat Posted December 21, 2014 Share Posted December 21, 2014 Kind of off topic, but maybe someone can help me. We have the amazon card for points, but none are showing up. Do you have to let your purchases stay on the balance until the next bill comes before the amounts count toward points? I've been paying ours off as soon as a charge processes, because we don't want to run up a big bill. The points show up a few days after the end of the statement period ends. So if your billing period is 11/1-11/30, they would show up around 12/2. You won't see any of them from the previous statement period until the period ends. You can see how many points you have that are available to use if you go to your account and select "shop with points". You will also see available points to apply to a purchase during the check out phase. Quote Link to comment Share on other sites More sharing options...
QueenCat Posted December 21, 2014 Share Posted December 21, 2014 As far as I can tell, the points show up a few days after the "pay at least the minimal payment by "x" date" day. So let's say the statement has charges 10/15 to 11/14, and the payment is due on 12/12. The points from the purchases made between 10/15 and 11/14 will show up during the week after 12/12 (maybe 3-4 days). So it can be a full two months from the time a charge is made to the time the points are credited. As far as I can tell, the points are credited after the payment due date - it doesn't matter when you actually make the payment. Mine show up just after the statement period ends, long before the due date. Quote Link to comment Share on other sites More sharing options...
forty-two Posted December 21, 2014 Share Posted December 21, 2014 Mine show up just after the statement period ends, long before the due date. Interesting - I'll have to pay closer attention. The end of the statement period and the due date of the previous statement seem to be pretty close together on my card (throws me off, tbh) and I haven't paid close enough attention to the exact amount of points to verify which statement period it goes with. It just seems like a *very* long time, and this time I happened to notice they were posted shortly after the payment due date; maybe it was also the end of the next statement period. Quote Link to comment Share on other sites More sharing options...
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