Chase - Amazon.com Visa Review

Even though I still go to a mall every so often, more than likely it's to get a hair cut at my favorite barber shop, buy a new pair of prescription glasses or go to the movies at a multi-screen theater.  Very rarely is it to do what I used to go to the mall for: to browse at my favorite bookstore, look for the latest CD, video or (after 1999) DVD at a "music and video store," or the occasional jaunt to a Toys R Us or KB Toys store to look for new Star Wars action figures.

Since, oh, 2001, when I used a  complimentary Amazon gift certificate we received from BellSouth (now AT&T) for trying their online billing system, I have been more of an online shopper than a constant visitor to a mall, even though I live within theoretical walking distance of two malls and "spitting distance" of a plethora of strip malls.  Though not entirely by choice - I don't drive, and if I were to write a review of Miami-Dade's public transportation system, it would be a scathing one - I have willingly given up the instant gratification of going to a store and buying things now and traded it in for the slower but more convenient process of online shopping.

Of course, online shopping venues now have various payment options (personal checks, debit cards, and electronic payment services such as PayPal), but almost all of them often require credit cards. 

And though I have several credit cards (Sears Master Card, Discover, and regular Visa), the one I use the most is Chase's Amazon.com Rewards Visa Card. (Note: Mine is being upgraded to the Amazon.com Rewards Signature Viisa Card level as of my next billing cycle.)

 For the first four years of my eight-year relationship with Amazon, I often alternated my credit cards when making purchases.  This allowed me to keep all my accounts active and helped me get a really good credit score going.

But in 2004, while I was shopping around for new movies, I happened to see an ad on Amazon for its Amazon Rewards Visa card.  Not only did it offer the usual enticements - no annual fee, low annual percentage rates (APRs), a considerable line of credit, and so on - but it had a simple-to-understand points-based reward system.

The original terms went something like this:

• For each dollar spent at Amazon.com with the Amazon.com Rewards Visa card, you would receive three reward points. 
• For each dollar spent where Visa cards are accepted, you would receive one reward point.
• When your purchases ended up earning a total of 2,500 points, the Rewards Program would send you a $25,00 gift certificate good for purchases at Amazon.com.

Not only that, but to get you to sign up for the Amazon.com Visa Rewards card, Chase (or its predecessor in 2004) gave new users $25.00 off from their first Amazon purchase once the card had been approved, mailed and received.

Currently, the rewards have been expanded somewhat; according to the information at Amazon, cardholders still get $25 Amazon gift certificates, but now if they use the credit card to buy groceries, medicines, and dining out where Visa is accepted, they get two points, while most other non-Amazon.com purchases earn the original one-point bonus.

Also, the more cardholders spend and the more points they accumulate, the more rewards options there are. 

For instance, if you sign up for the Amazon.com Rewards Visa card and earn 5000 points. you can exchange your 5000 points for a $50 cash back check or a $50 BP Gas card.  Earn 6000 points, you can get 5,000 British Airways miles.  Earn 15,000 points and you can get $150 off any airline ticket.  (The list of Rewards Points awards may be found at http://www.amazon.com/gp/cobrandcard/marketing.html/ref=amb_link_6728672_3?ie=UTF8&pr=con321&pf_rd_m=ATVPDKIKX0DER&pf_rd_s=auto-sparkle&pf_rd_r=1E48PHRXF3FCJXVQZ2ES&pf_rd_t=301&pf_rd_p=413151801&pf_rd_i=amazon%20visa%20credit%20card)

My Experiences: Because of my long-standing relationship with Amazon and due to my growing reliance on online shopping, that initial offer was good enough for me.  I applied - if you have a good credit history and some steady income, you will more than likely be approved almost as soon as you submit your online application - and was very quickly a cardholding member.  (Well, not literally; it took about a week to get the card....)

Since the summer of 2004, I've used my Amazon Rewards Visa card quite a bit.  Mostly at Amazon, but every so often I've used it to pay my dentist, buy a pair of eyeglasses and to purchase my 26-inch Samsung LCD TV at the now-vanished Circuit City.

And, of course, most of the time my credit card is relatively small; I usually have balances of less than $100, though sometimes - such as when I buy things like a laptop or an Amazon Kindle 2 within a two-week period - the statement exceeds this considerably.  (Fortunately I can pay this off in one or two installments, but I get nervous when the bill does pass the $50-60 range!)

Obviously, Chase does want to try to make money off its cardmembers while protecting its liabilities, so it offers, for a monthly fee that comes close to $12, a credit monitoring/identity theft protection service.  I signed up for it two years ago, and though it means that I have a balance on the card whether I go to Amazon or not, it does ease my mind because they have an obligation to alert me if there is unusual activity on my account that constitutes fraudulent use of my card. 

With so many hackers and criminals out there, including young kids who work for the Russian Mafia, identity theft and credit card-related crime is rampant, thus it's important to have some sort of protection. For $144 a year, this service gives me peace of mind and allows me to shop online with some sense of security. 

All in all, I like my Amazon.com Visa Rewards card; it's a convenient credit card that is accepted not only at Amazon but everywhere that takes Visa, plus it has a nifty and easy-to-understand rewards program.  I've been able to "cash in" several Amazon gift certificates over the years, and pretty soon I'll be receiving another one!