Amazon Gift Cards for "Applying" for Amazon Credit Card?

[myxomatosii]

I don't get this. Why are they offering $60 gift cards for me to apply for a credit card?

I know me, I'd never use it, might as well just get it, shred it and cancel the account.

I've never used a credit card so I don't know all the terms.

What am I missing? Why shouldn't I just apply, use the free $60 and shred the card and forget about the account?


Link with details
http://www.amazon.com/gp/cobrandcard/marketing.html/ref=cobrand_ch_gw60?ie=UTF8&place=camp&plattr=CBGWBD&pr=con321&source=h&pf_rd_m=ATVPDKIKX0DER&pf_rd_s=right-6-contract&pf_rd_r=1T6YRC8YND9855RX8877&pf_rd_t=101&pf_rd_p=1752949342&pf_rd_i=507846

[Miller]

They do it because they make money on it. The majority of people that would apply for this card won't shred it and cancel it, also you should check to see if there are any terms on canceling it before a certain time has elapsed since it had been open.

Also I like your sig

[Ahldagor]

they also sell your info from it

[Mirana]

I've read somewhere that applying for credit cards can lower your credit score. I have no evidence to support this, I've just seen it multiple times. Something to think about.

[Old_PVP]

I've read somewhere that applying for credit cards can lower your credit score. I have no evidence to support this, I've just seen it multiple times. Something to think about.

Not necessarily. There are a bunch of factors that can impact your score. Your credit to debt ratio can influence your credit score. So if he has this card and never used it, but just keeps it open then the credit bureaus see this as a good thing; he will have credit available to him, but no debt incurred, which would eventually raise his score.

However the average age of your accounts also plays a role in your overall credit score. So by opening a new account which is 1 day old, this will lower the average age of the total, which can then lower your score. This is why if you open accounts, it is recommended to leave them open with a $0 balance, so they grow old and eventually raise your score. Opening and then closing an account will usually have a negative impact on your credit score, because that account will bring down the average age of your remaining accounts.

[myxomatosii]

Eh fuckit, I applied to save $60 off last night's purchase. Card will sit in a closet and collect dust, I don't carry credit cards.

Hope nothing terribad happens, I just got 5 lbs of whey protein free if not :o

[ymw]

Where are you seeing $60? I only see $30 - was there a promo?

[Portasaurus]

Applying for a credit card DOES negatively impact your score slightly, and that sort-of makes sense because it prevents you from applying for (and getting) 100 cards with an aggregate available credit line that you have not proven you can manage. After the 4th or 5th inquiry in a close time span, your rating will probably be impacted enough that you won't get approved for any more cards, or the credit line/APR you get will be so bad that it's not worth the application process anymore.

If this is the only card you've applied for in a while, then it will probably have a marginal impact on your actual score, if any.

The good news is: after a while of proving you can manage that credit card, your score should improve overall because you have more available credit to your name and therefore a lower debt/credit ratio.

They (the card company) are, of course, hoping and assuming that you will fuck up and leave a balance on the card, and that's when the fleecing begins.

[Lyrith]

I don't know about you guys, but I buy almost everything through Amazon it seems. Might not be a bad idea to have one and start racking up some of them there points... =D

[Orruar]

I don't know about you guys, but I buy almost everything through Amazon it seems. Might not be a bad idea to have one and start racking up some of them there points... =D

If you use the card just for Amazon purchases and pay it fully each month, you pay $0 in interest and essentially get 3% off all your purchases. Some smart people do that.

[Swish]

If you use the card just for Amazon purchases and pay it fully each month, you pay $0 in interest and essentially get 3% off all your purchases. Some smart people do that.

^^

You could also be a good guy and purchase 1 time on that credit card, just to make Amazon think their ploy has worked and preserve the deal for others.

[Softcore PK]

We get free Amazon Prime for being a student? Wtf no one told me.

Overdue library books affect credit score negatively. Fun fact.

[pharmakos]

credit scores are fucking stupid so ya it would 100% lower it

the average credit score in america is 666. wrap your mind around that.

[myxomatosii]

Where are you seeing $60? I only see $30 - was there a promo?

Actually I had never seen this junk before. I was buying like $200 of tools the other day and it offered me $20 off if I financed $200 over 6 months with some Amazon card.. which was the cost of like two of my tools so I was like uhh sure why not.

Then I had to re-buy protein which was like $120 and they offered me a $60 card to apply for some other card with Chase.

Anyways I'm done doing it now, I don't imagine I'll get more offers.