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How stupid do the banks and Amazon think we are?

efficientPV

Solar Addict
Joined
Sep 24, 2019
Messages
1,329
Well, they are probably right. I have Chase Rewards on my Visa. It is like Monapoly money and I use it to get gift cards for people. Not a big fan of Amazon, but sometimes they have a deal. Just got an email from Chase telling me I can redeam my rewards at Amazon directly. That's convenient, easy to spend imaginary money and no left over balances when using a gift card. Then read the fine print. 10,000 points = $80. I can get a $100 Amazon gift card for the same points. They are taking 20% for this convenience! I remember back when they had deals giving you a 100 gift card for $95 in points. I wonder how many will miss this and just click on use points?
 
I have have Amazon Prime Visa by Chase. I don't lose 20% of my points. I do get 5% points on Amazon purchases.
 
IF you pay by credit card. I just got something and got the 5%. This is a new direct payment to Amazon from your rewards program. This is a direct copy from email.

When using points at checkout, each point is worth $0.008, which means that 100 points equals $0.80 in redemption value.
 
The way it's supposed to work is:
I'm getting the $0.01 per $1 transferred from my Chase Visa, and I *think* it transfers all the way through checkout. I''l verify the next time I purchase.
 
I have bought a lot of stuff these last 5 months. All my points are 'redeemed' at $1 per 100 points. Chase Visa that I got from Amazon Prime.
 
Call me crazy, but i just placed an order with Amazon and look what appeared on the screen. This is exactly what was printed.

Use Chase Ultimate Rewards points balance.
33,657 points available ($269.25 on Amazon.com)

No thanks, I won't take that offer.
 
Is your Chase card sponsored? I have a card through my union. It says Teamster Chase Reward Card. I don't use that one so I don't know how it works.
 
I’ve been using the Chase reward card on Amazon goodies for 2-3 years now and I have always got the full 5% credits back. Spent $100 got $5 or 500 points in credit. Spend $1 get 50 points or .05. It’s available usually the date your card statement comes out each month. I alway pay it off each month because their interest rate is high. Safer than a debit card purchase.
 
Discover also gives you 100 cents on the dollar at Amazon.

I think credit cards are like BMS’s. Many nuances and there is no “single best one” to suit all needs. ?
 
A CC is a dangerous plastic weapon of ruination that can cause major financial issues for out of control solar junkies. Chaarge it!!? Aaaaayeee
 
where do i sign up for that card that gives 100 cents back on a dollar purchase?

In the OP they are talking about 80 cents on the REWARD dollar.

Sorry for not being extremely specific ?
 
These things are always a sign of the future. Banks are always trying out new ideas and seeing what customers will tolerate. I'm not making anything up. This will effect some now, maybe others in the future. Many instantly delete any notices from their bank. Click and pay is just so seductive. I'm just saying read the fine print because things are subject to change. It's a free market, just thought 20% was a little egregious especially when Amazon usually tries everything to get you to shop.
 
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