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I was reading reviews of the Amazon card and it sounded like there was a huge catch with fees and interest making that 5% not worth it. That's the only card I t
by plagiarist 3y ago
I was reading reviews of the Amazon card and it sounded like there was a huge catch with fees and interest making that 5% not worth it. That's the only card I think would be worth adding for me. I don't do enough travel or shopping at Apple to make other cards worth using if I have a regular cash back card.
- paulmd 3y agoThe amazon card has absurdly bad interest rates if you're carrying a balance, but that's not unusual with points cards, most of them are >= 25% APY. There is also a weird gotcha if you use the cash advance balance transfer offers. It's 4% transfer fee, 2% APY for a year, but the cash advance pays off first, so, any purchases will continue to accrue at the 25% APY if you make them - but if you want to do a balance transfer just lock the card afterwards. Other than that it's fine, actually great. I make a shitload of rewards on those amazon purchases, pay the balance monthly, and cash it out every month and don't pay any fees/interest.
- Schnitz 3y agoYou should never carry a balance on any card anyways so I think the high interest rate is moot. I don’t even know the interest rate of any of my cards. The 5% back on Amazon is worth it if you buy a lot on Amazon.
- matwood 3y agoYou do have to maintain a Prime membership, but there are no other regular fees. It's trivial to use the earned money on other Amazon purchases. No CC points/cash back are worth carrying a balance on any card.