20% Off Code for Amazon Rewards Visa Cardholders

aubsxc said:
You can also credit your Amazon visa (issued by Chase) for the cashback or get a check from Chase. You don't have to use the caskback on future Amazon purchases.

Not that I know of. I spend a shit ton of money on Amazon and have never hit the limit.
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You beat me to it. I just looked that up.

I don't know what Amazon card page I saw earlier because when I looked now on a different page all the main questions are answered right at the top. No points limits, you get 2 points for gas, and you can redeem points at a 1% cashback rate at Chase's website.

So, interest rate comparisons aside since those can vary and I haven't looked, it looks pretty good. Discover still gives 5% back on certain things, but there is a monthly cap and then it drops back to the normal 1%, but that ShopDiscover is actually better than first mentioned because it's often 5% off at Walmart and Best Buy and places but can be 10 or even 20% at certain places like for ordering flowers or even the occasional deal for less-popular department stores like Kmart. (but I've never seen an Amazon % off on there).

Both of the above can perhaps pale in comparison to the American Express Blue card rewards, but I don't think their best rates kick in until you've spent x amount for the year.

One other thing is if the Amazon card doubles warranties like Discover and most other cards do. If it's linked to Chase, it should, but not sure.

edit: The Amazon Chase cashback looks to be even better than I thought. I was thinking redeeming points for cash at Chase drops the points to a 1:1 ratio.
"Cash back: Choose from a check or statement credit. Get $20 cash back for 2,000 points."
If you can get 3 points per $1 at Amazon and 2 points per $1 on gas, and then redeem $20 for 2000 points, you're still getting 3% and 2% cashback on those things, not just 1%. Very nice. SHOPDiscover is still better for Walmart and similar, plus whatever 5% thing you choose, though.
 
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thanks, i had just ordered something before i saw this thread. luckily there was time to cancel it
 
What sort of limitations are there on these codes? Because I just tried to check out with about $30 worth of AmazonBasics cables and I wasn't allowed to use either code.
 
TheOrangeJuicer said:
I buy stuff from amazon all the time, and I have prime, so I'm tempted to sign up for the Rewards card. Does anyone who has it think it's worth it? I had no idea it existed until I saw this thread. The points seem pretty low but if I'm buying stuff anyway then I may as well take advantage of it... That's my thoughts on it anyway.

Those who have it, is it worth getting in your opinion? I read some of the terms and the APR seems high, but I plan on paying off my balance each time so I'm not too worried about it.
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It depends. I got my Amazon visa like 3 years ago and I loved it for the 3%/2% and I thought it was the best credit card ever. If you are not interested in leveraging credit cards for huge values through flights and hotels and would be scared to open a few credit cards 3 or 4 times a year, then the amazon visa is a fine card.

However, if you are interested in maximizing your rewards, there are about 20 better cards from Chase to get before the Amazon card, and the $30 signup bonus is pure crap. Mine sits in my dresser and I haven't used it in over a year, except to get this code for $20 off a roku 3.
 
JordanCL said:
It depends. I got my Amazon visa like 3 years ago and I loved it for the 3%/2% and I thought it was the best credit card ever. If you are not interested in leveraging credit cards for huge values through flights and hotels and would be scared to open a few credit cards 3 or 4 times a year, then the amazon visa is a fine card.

However, if you are interested in maximizing your rewards, there are about 20 better cards from Chase to get before the Amazon card, and the $30 signup bonus is pure crap. Mine sits in my dresser and I haven't used it in over a year, except to get this code for $20 off a roku 3.
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Well, i'm one of those people who mainly pays everything in full. I only have one credit card with a low limit because I just don't need anything higher. The only reason I really have it is to keep my credit score high. I only use it for Gas and groceries on occasion, and I always pay it off in full every month. I use my debit card for Amazon purchases since I don't have a limit and just prefer to pay for big items in full at once. I hate the thought of keeping track of yet another credit card, but two should be fine and I only plan on using it for Amazon purchases anyway so I'll know what I'm spending.

It was actually $50 sign up bonus! I will not be opening more credit cards no matter how many offers I get in the mail. Two is by far enough in my eyes. I hope I made the right decision! If not I will just buy something and pay it off in full and shred it afterwards.

I learned my lesson on cancelling credit cards a few years back... DON'T DO IT, EVER. Hurts your credit score even if you have no debt. Let that shit expire and don't sign back up.
 
TheOrangeJuicer said:
Well, i'm one of those people who mainly pays everything in full. I only have one credit card with a low limit because I just don't need anything higher. The only reason I really have it is to keep my credit score high. I only use it for Gas and groceries on occasion, and I always pay it off in full every month. I use my debit card for Amazon purchases since I don't have a limit and just prefer to pay for big items in full at once. I hate the thought of keeping track of yet another credit card, but two should be fine and I only plan on using it for Amazon purchases anyway so I'll know what I'm spending.

It was actually $50 sign up bonus! I will not be opening more credit cards no matter how many offers I get in the mail. Two is by far enough in my eyes. I hope I made the right decision! If not I will just buy something and pay it off in full and shred it afterwards.

I learned my lesson on cancelling credit cards a few years back... DON'T DO IT, EVER. Hurts your credit score even if you have no debt. Let that shit expire and don't sign back up.
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It's a personal decision of course, and if 2 cards is a lot to you then you do what you're comfortable with.

However, you're mistaken about having a small limit because you don't need more. Having a small limit on a credit card you have hurts your score through credit utilization, and accounts for a very large % of your credit score (30%, second only to payment history at 35%). Ideally, you should never use more than 20% of your total credit limits available to keep your score healthy. Also, typically, cancelling a credit card doesn't hurt your score. If the history was good, it stays on your credit report for 10 years. What hurts your score is again the credit utilization ratio I mentioned above.

It's calculated like this: Total credit used / Total Credit available

Total credit used is the balance on your card(s) whenever the numbers are evaluated, not after you pay your statement. So just because you pay your card off every month doesn't mean your "credit used" is reported as $0.
Total credit available is the sum of all the credit extended to you, or simply the credit limits of your card(s) added up.

So for example, you have one credit card with a $2000 limit. You charge $1200 on it in a month and pay it off immediately. Your credit utilization may report as 1200/2000 = 60%, which is REALLY high, and your score will tank.
Same card, but you ask for a credit limit increase and you get approved to $6k. Now your utilization may report as 1200/6000 = 20%, your score will be in much better shape.
This is why your credit score may have taken a dive after cancelling a card, as your denominator (total credit available) would have gotten smaller while your numerator stayed the same, artificially increasing your utilization ratio.

I've written a thread on this on 2p2, a poker forum, and I cross posted it on Anandtech, but [H] didn't have a forum that seemed appropriate for the topic. If you want to read more you can see here: http://forumserver.twoplustwo.com/34/other-other-topics/credit-primer-discussion-w-jl-1264513/
 
JordanCL said:
It's a personal decision of course, and if 2 cards is a lot to you then you do what you're comfortable with.

However, you're mistaken about having a small limit because you don't need more. Having a small limit on a credit card you have hurts your score through credit utilization, and accounts for a very large % of your credit score (30%, second only to payment history at 35%). Ideally, you should never use more than 20% of your total credit limits available to keep your score healthy. Also, typically, cancelling a credit card doesn't hurt your score. If the history was good, it stays on your credit report for 10 years. What hurts your score is again the credit utilization ratio I mentioned above.

It's calculated like this: Total credit used / Total Credit available

Total credit used is the balance on your card(s) whenever the numbers are evaluated, not after you pay your statement. So just because you pay your card off every month doesn't mean your "credit used" is reported as $0.
Total credit available is the sum of all the credit extended to you, or simply the credit limits of your card(s) added up.

So for example, you have one credit card with a $2000 limit. You charge $1200 on it in a month and pay it off immediately. Your credit utilization may report as 1200/2000 = 60%, which is REALLY high, and your score will tank.
Same card, but you ask for a credit limit increase and you get approved to $6k. Now your utilization may report as 1200/6000 = 20%, your score will be in much better shape.
This is why your credit score may have taken a dive after cancelling a card, as your denominator (total credit available) would have gotten smaller while your numerator stayed the same, artificially increasing your utilization ratio.

I've written a thread on this on 2p2, a poker forum, and I cross posted it on Anandtech, but [H] didn't have a forum that seemed appropriate for the topic. If you want to read more you can see here: http://forumserver.twoplustwo.com/34/other-other-topics/credit-primer-discussion-w-jl-1264513/
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Dude/Dudette... Whoever you are, I really appreciate this. This is exactly what happened. The card I cancelled was only $500 (was as student Visa I got like 5 years before I cancelled it). I don't know what balance I had before I paid it off before cancelling, but I imagine it was probably at least half or close to it. That must be what happened because I cancelled it just a few days after paying it off. I feel like a moron because I should probably know what you just told me. Well I learned something very useful from you today, and I have to say I very much appreciate it. My current limit is only $1000 since I figured the limit really didn't matter. Now that you're mentioning this, I'm going to try and increase it to something higher.

again, thank you for the life lesson. I'm young and have all my shit in order so I'm not too worried about my loss in score (it's still very high), but it was discouraging to hear how much it dropped once I found out. I will not let that happen again. I thank you again.
 
TheOrangeJuicer said:
My current limit is only $1000 since I figured the limit really didn't matter. Now that you're mentioning this, I'm going to try and increase it to something higher.
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And if you can't increase the limit, just go another route and get 17 or so cards with $1000 limit on each. Having credit cards doesn't mean you have to use them. Though that is a problem for some people, of course.
 
Telling someone to get 17 credit cards is told he should be a financial advisor. LOL
 
TheOrangeJuicer said:
Well, i'm one of those people who mainly pays everything in full. I only have one credit card with a low limit because I just don't need anything higher. The only reason I really have it is to keep my credit score high. I only use it for Gas and groceries on occasion, and I always pay it off in full every month. I use my debit card for Amazon purchases since I don't have a limit and just prefer to pay for big items in full at once. I hate the thought of keeping track of yet another credit card, but two should be fine and I only plan on using it for Amazon purchases anyway so I'll know what I'm spending.

It was actually $50 sign up bonus! I will not be opening more credit cards no matter how many offers I get in the mail. Two is by far enough in my eyes. I hope I made the right decision! If not I will just buy something and pay it off in full and shred it afterwards.

I learned my lesson on cancelling credit cards a few years back... DON'T DO IT, EVER. Hurts your credit score even if you have no debt. Let that shit expire and don't sign back up.
Click to expand...

If your debt to credit ratio is good and your score is excellent cancelling a CC has a negligible effect. It will drop your score just barely and if you keep your debt to credit ratio good or excellent for a couple of months you'll recover that score drop easy. Now if your credit score is in the low 600s then that score drop will hurt and letting a CC expire would be a much better option.
 
I tried the code today and it didn't work. was this only for the 6th?
 
Butter said:
I tried the code today and it didn't work. was this only for the 6th?
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I tried both codes yesterday, 08/06 and neither worked. I tried to preorder GTA V and have the rewards visa card. I think this is dead.
 
JUL10PER works fine for me. Maybe it is because I entered JUL10PER a few days ago as Amazon is auto-applying it for me whenever I enter the checkout page.

I don't know about JUL20PER since I've already used it on 8/2.
 
Just tried JUL10PER and it's not working for me. JUL20PER worked fine a couple days ago though.
 
deal is dead I think cuz the 10% didnt work for me yesterday (already had used the 20% a few days ago)
 
I used the 20% several days ago and used the 10% early this morning (around 2AM PDT). Both were valid.
 
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