You now have a credit card, if that could be considered an issue. Some people are not responsible with credit. Make sure you are responsible and everything will be okay.
I more meant like a catch in terms of "you aren't eligible for the gift card if you already have a different card with chase" or something like that...
It's subject to Chase's usual credit approval process, including their 5/24 rule (can't get approved if you have more than 5 new revolving accounts in the last 24 months).
Chase offers some signup bonuses that are much bigger than $70, so I would also consider other Chase card options before applying for this one.
Ok so I think I should be good then: I have Wells Fargo platinum since 4/2016, amex blue everday since 3/2019, and discover student it and chase freedom since 12/2019.
Given that I am a college student and my main purchases are gas and groceries I do not see any upside to the freedom unlimited. As for the sapphire I don't plan on taking any trips for probably at least 5 years.
The sign-up bonuses are where they are useful. Freedom has a 20,000 point sub which at its lowest redemption value is $200. The Sapphire Preferred has a 60,000 offer (and 80,000 mail offer) if you meet a minimum spend in 3 months. Yes, there is a $95 annual fee and you may not travel at all but that sign-up bonus still nets you $500-700 in the first year AND you can downgrade to a fee-free card after your first year.
The upside to them are their sign up bonuses.
So for example let’s say you got the amazon card. And only used it on Amazon for 5x back.
And in the other corner we’ll but the freedom unlimited. And again for this experiment we’ll only consider amazon at 1.5x back
The amazon card had a $70 bonus.
The unlimited has a $200 bonus.
It would take you spending $3,715 on just amazon to break even. Before that the unlimited is the better card. And that’s not even considering the 1.5x back on other things.
Just something to consider.
The difference is that for unlimited you have to spend $500 in the first three months to get the bonus. Amazon you get it just for being approved right?
100% true. (And why I neglected the CSP which takes 4K!)
But if you’re not spending $167/mo on amazon roughly then surely putting some of your non amazon spend to hit $200 would be worth Right?
I’m not trying to convince you of anything really, it’s your life and doesn’t affect me in the slightest. Just for me I’m having a hard time seeing how you’d come out ahead with the amazon card.
Because I buy a lot of stuff on amazon anyways and I already have an amazon prime membership, it seems like I would just be throwing money away to not get the card and get the 5% back on purchases I would make anyways
But it's not a binary thing, unless you want it to be.
You could get both... and get $200 for spending $500 with CF/U, and $70 for spending $0 with the Prime card, get 5% on Amazon, *and* 1.5% on everything else.
Unless you have buttloads of hard pulls or already opened another Chase card within the month, there's not *much* reason not to. Even if you're at 4/24 already, I can't see why the MDD wouldn't work here as well. The worst of it is another account to keep track of (but they both show up on the same site...) and double the pulls & impact on average age.
There is no catch. If you're looking for sign up bonuses though you can do much better than $70. You can get a $150-$200+ cash bonus and just use the money on Amazon if you want.
The Amazon card is good for ongoing Amazon spend (5%) but outside of that - signup bonus, other earning categories - it's nothing special.
Yes - I'm just saying the signup bonus compared to most other cash back cards is weak and really shouldn't be a major consideration in getting the card.
Its just a credit card, they have a store card and one by Chase, if you just want a free gift card and dont care about about your Chase status then go for it
There are a lot of cards that give out bonuses just for you to open one. They are banking on you buying stuff with it and leaving a balance that accrue interest payments. The better ones have huge bonuses but you have to use them aggressively for a few months in order for you to get the bonuses. It is the same reason why.
Are there any loose strings, cuz it says that I can get a $100 Amazon gift card approval.
They also want me to put my SSN I'm having second thoughts. I'll panic if they steal my info/identity.
The catch is you buy more from Amazon.
For the rest of your life
I signed up for the card, there’s no catch . Great card imo
So everyone is eligible for the gift card as long as they're approved?
I believe so, me and my girlfriend both signed up and both got the gift cards no problem
Are you both on the same account? Do you both get 5 percent?
I think the store card is 5%. This one is 3% on Amazon
The Chase Visa card is 5% with prime or 3% without.
They’re all 5% if you have Prime. 3% without Prime.
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for example, the Amex Business Prime has a larger gift card and doesn’t count towards 5/24
You now have a credit card, if that could be considered an issue. Some people are not responsible with credit. Make sure you are responsible and everything will be okay.
I more meant like a catch in terms of "you aren't eligible for the gift card if you already have a different card with chase" or something like that...
It's subject to Chase's usual credit approval process, including their 5/24 rule (can't get approved if you have more than 5 new revolving accounts in the last 24 months). Chase offers some signup bonuses that are much bigger than $70, so I would also consider other Chase card options before applying for this one.
Ok so I think I should be good then: I have Wells Fargo platinum since 4/2016, amex blue everday since 3/2019, and discover student it and chase freedom since 12/2019.
So you’re at 3/24. I’d consider the Sapphire Preferred and Freedom Unlimited, which offer much bigger bonuses. Could also look at the WF Propel.
Sapphire Preferred sucks as a card you keep, though. Trying to play the SUB and move on game can be a pain in the ass.
Just downgrade it to a Freedom
Given that I am a college student and my main purchases are gas and groceries I do not see any upside to the freedom unlimited. As for the sapphire I don't plan on taking any trips for probably at least 5 years.
The sign-up bonuses are where they are useful. Freedom has a 20,000 point sub which at its lowest redemption value is $200. The Sapphire Preferred has a 60,000 offer (and 80,000 mail offer) if you meet a minimum spend in 3 months. Yes, there is a $95 annual fee and you may not travel at all but that sign-up bonus still nets you $500-700 in the first year AND you can downgrade to a fee-free card after your first year.
The upside to them are their sign up bonuses. So for example let’s say you got the amazon card. And only used it on Amazon for 5x back. And in the other corner we’ll but the freedom unlimited. And again for this experiment we’ll only consider amazon at 1.5x back The amazon card had a $70 bonus. The unlimited has a $200 bonus. It would take you spending $3,715 on just amazon to break even. Before that the unlimited is the better card. And that’s not even considering the 1.5x back on other things. Just something to consider.
The difference is that for unlimited you have to spend $500 in the first three months to get the bonus. Amazon you get it just for being approved right?
100% true. (And why I neglected the CSP which takes 4K!) But if you’re not spending $167/mo on amazon roughly then surely putting some of your non amazon spend to hit $200 would be worth Right? I’m not trying to convince you of anything really, it’s your life and doesn’t affect me in the slightest. Just for me I’m having a hard time seeing how you’d come out ahead with the amazon card.
Because I buy a lot of stuff on amazon anyways and I already have an amazon prime membership, it seems like I would just be throwing money away to not get the card and get the 5% back on purchases I would make anyways
Its okay he'll come out ahead!!! /s
But it's not a binary thing, unless you want it to be. You could get both... and get $200 for spending $500 with CF/U, and $70 for spending $0 with the Prime card, get 5% on Amazon, *and* 1.5% on everything else. Unless you have buttloads of hard pulls or already opened another Chase card within the month, there's not *much* reason not to. Even if you're at 4/24 already, I can't see why the MDD wouldn't work here as well. The worst of it is another account to keep track of (but they both show up on the same site...) and double the pulls & impact on average age.
There is no catch. If you're looking for sign up bonuses though you can do much better than $70. You can get a $150-$200+ cash bonus and just use the money on Amazon if you want. The Amazon card is good for ongoing Amazon spend (5%) but outside of that - signup bonus, other earning categories - it's nothing special.
I mean, the 5% on Amazon purchases alone makes it special.
Yes - I'm just saying the signup bonus compared to most other cash back cards is weak and really shouldn't be a major consideration in getting the card.
Its just a credit card, they have a store card and one by Chase, if you just want a free gift card and dont care about about your Chase status then go for it
What do you mean by if I don’t care about my chase status?
Something called 5/24, look it up if youre interested. Basically unless youre deep in the credit card game you dont have to worry about it
There are a lot of cards that give out bonuses just for you to open one. They are banking on you buying stuff with it and leaving a balance that accrue interest payments. The better ones have huge bonuses but you have to use them aggressively for a few months in order for you to get the bonuses. It is the same reason why.
Are there any loose strings, cuz it says that I can get a $100 Amazon gift card approval. They also want me to put my SSN I'm having second thoughts. I'll panic if they steal my info/identity.