Amazon.com $30 off

[navyjay]

Amazon.com is giving $30 off the first purchase for signing up for their VISA credit card. I just used it on several books, but I believe it's for any type of purchase. No fee and can be used immediately at their website.

You can just cancel it and remove your name from their mailing (selling) list when you receive it. Unless you're having your credit checked every month of the year it shouldn't affect your credit rating.

 

[Baked]

This deal precedes the creation of ATF.

 

[dealseaker]

i did this and got in on a 200gb seagate for ~50 after rebate <--- did this a while back

 

[welst10]

I've done it twice (apply - cancel - reapply after several months). Saved $60 in total.

 

[Monster8]

I've applied but I haven't been approved. It has been a week now. I guess I just don't make enough money. :-\

 

[The Sauce]

Originally posted by: welst10
I've done it twice (apply - cancel - reapply after several months). Saved $60 in total.

Yes, and now your credit rating is probably pure crapola. Be careful guys. Every time you apply for a new credit card it affects your credit rating...especially switching cards rapidly. That $60 you saved will look like peanuts compared to the thousands you will waste in paying higher mortgage and auto financing rates.

 

[welst10]

Originally posted by: Snatchface

Originally posted by: welst10
I've done it twice (apply - cancel - reapply after several months). Saved $60 in total.

Yes, and now your credit rating is probably pure crapola. Be careful guys. Every time you apply for a new credit card it affects your credit rating...especially switching cards rapidly. That $60 you saved will look like peanuts compared to the thousands you will waste in paying higher mortgage and auto financing rates.

I doubt you know what you talkin about. As far as i know, only factors like number of OPEN (not including closed) credit lines, number of late payment, balance to credit limit ratio, balance to income ratio, affect credit score. Btw, I have opened and closed at least a dozen cards in last 5 yrs and my credit score is over 700 as of now.

 

[jdub1107]

Your credit scores depends on numerous factors. Applying for a credit card a couple of times isn't going to hurt your credit score very much. Of course, the higher your credit is, the more your score could drop. But $60 is a lot to save.

 

[Greg04]

Originally posted by: Snatchface

Originally posted by: welst10
I've done it twice (apply - cancel - reapply after several months). Saved $60 in total.

Yes, and now your credit rating is probably pure crapola. Be careful guys. Every time you apply for a new credit card it affects your credit rating...especially switching cards rapidly. That $60 you saved will look like peanuts compared to the thousands you will waste in paying higher mortgage and auto financing rates.

Take this with a grain of salt. My credit rating is 790 and I have had more than 100 credit cards (mostly for biz) in the past 5 years (also, I have zero CC debt now). The number is important, but not the end all of credit rating.

 

[lsman]

you can carry 20-30 cc and high credit score.

 

[boxoreds]

Originally posted by: Snatchface

Originally posted by: welst10
I've done it twice (apply - cancel - reapply after several months). Saved $60 in total.

Yes, and now your credit rating is probably pure crapola. Be careful guys. Every time you apply for a new credit card it affects your credit rating...especially switching cards rapidly. That $60 you saved will look like peanuts compared to the thousands you will waste in paying higher mortgage and auto financing rates.

A little extreme I'd say . . .

Aplly for a credit card and your life is ruined!!!

 

[osiris3mc]

Originally posted by: Baked
This deal precedes the creation of ATF.

Hilarious.

 

[welst10]

Originally posted by: Baked
This deal precedes the creation of ATF.

I just had my ATF changed at a local dealer.

 

[paulmob]

ATF?

 

[ChiDestroyer]

Originally posted by: welst10

Originally posted by: Snatchface

Originally posted by: welst10
I've done it twice (apply - cancel - reapply after several months). Saved $60 in total.

Yes, and now your credit rating is probably pure crapola. Be careful guys. Every time you apply for a new credit card it affects your credit rating...especially switching cards rapidly. That $60 you saved will look like peanuts compared to the thousands you will waste in paying higher mortgage and auto financing rates.

I doubt you know what you talkin about. As far as i know, only factors like number of OPEN (not including closed) credit lines, number of late payment, balance to credit limit ratio, balance to income ratio, affect credit score. Btw, I have opened and closed at least a dozen cards in last 5 yrs and my credit score is over 700 as of now.

Although he probably exaggerated, there is truth to what he says. Here?s an article:

?Don't shop for several cards at the same time. That mistake -- called shotgunning your credit -- is sure to sabotage your chances. ?Any time you apply for a card, you get the credit process started,? says Paul Richard of the National Center for Financial Education.

Card issuers checking your credit report will see the other inquiries and assume the worst -- that you'll get the cards and use the entire credit limit. If issuers think you have too many cards, they'll be less confident that you'll be able to pay your debts.

?Each inquiry counts anywhere from two to five points off your credit score,? says Kelly Snowden of American Credit Consulting, which works with consumers who have credit problems. Pulling your own report to check its accuracy has no effect on your score.?

http://banking.yahoo.com/firstcc.html

 

[weepul]

i applied for this stupid credit card twice, and got denied twice. not going to try again.

//krunk (^_^x)

 

[pyro451]

I did this a while ago and got my $30 off. I really only keep open one AMEX account and one VISA or MC account (for places that don't take AMEX). This way I can maximize my AMEX points.

The other added benefit of the Amazon card is the gift certificates ($2,500 in spending = $25 gift card). I just got my first one last week. 1% rewards on spending is about average these days. Overall, not a bad deal.

 

[welst10]

Originally posted by: ChiDestroyer

Although he probably exaggerated, there is truth to what he says. Here?s an article:

?Don't shop for several cards at the same time. That mistake -- called shotgunning your credit -- is sure to sabotage your chances. ?Any time you apply for a card, you get the credit process started,? says Paul Richard of the National Center for Financial Education.

Card issuers checking your credit report will see the other inquiries and assume the worst -- that you'll get the cards and use the entire credit limit. If issuers think you have too many cards, they'll be less confident that you'll be able to pay your debts.

?Each inquiry counts anywhere from two to five points off your credit score,? says Kelly Snowden of American Credit Consulting, which works with consumers who have credit problems. Pulling your own report to check its accuracy has no effect on your score.?

http://banking.yahoo.com/firstcc.html

True. too many recent credit inqueries at the time of applying for a credit line or loan does look bad. But I think that effect is only short term. A credit issuer won't pay much attention to older (eg, >3 months old) inqueries. Instead they will look at how many lines of credit/loan you currently have.

 

[Darknight]

A lot of discussion about this kind of stuff over on creditboards.
I've learned a lot of interesting things;

• 
  * Using "bumpage" to remove inquiries
  * How shotgunning credit card applications can - in some cases - be a good idea.
  * How adding credit cards (but no cc debt) can increase your credit score.

 

[The Sauce]

Ok, maybe I don't know what I am talking about...I thought I did, though. Last time I checked my credit report I had lots of entries for credit cards I had applied for to save a few buck but never used and Equifax warned me that that was the reason that my credit score was not higher.

 

[jai6638]

Originally posted by: Darknight
A lot of discussion about this kind of stuff over on creditboards.
I've learned a lot of interesting things;

• 
  * Using "bumpage" to remove inquiries
  * How shotgunning credit card applications can - in some cases - be a good idea.
  * How adding credit cards (but no cc debt) can increase your credit score.

hey .. can u please elaborate on the abovementioned points or direct me to a link wherein i can read as to how the above statements are true ??

thanks

 

[Darknight]

Originally posted by: jai6638

Originally posted by: Darknight
A lot of discussion about this kind of stuff over on creditboards.
I've learned a lot of interesting things;

• 
  * Using "bumpage" to remove inquiries
  * How shotgunning credit card applications can - in some cases - be a good idea.
  * How adding credit cards (but no cc debt) can increase your credit score.

hey .. can u please elaborate on the abovementioned points or direct me to a link wherein i can read as to how the above statements are true ??

thanks

Sure.

Link to *Bumpage* Explained.
The concept is that because there is a finite amount of space for each person's credit report, you get hard inquiries removed from your credit report by making your own soft inquiries frequently through a service like privacyguard.

Regarding my second point, Search for "app spree" on the Credit Forum on creditboards. There are many posts about it. This concept is if you apply for 5 credit cards on the same day (for example) , all five card providers will usually pull hard on your credit report the same day. When they do, the Inquiries from the other application will (usually) not have posted to your account yet. So basically, for a 24 hour period, everybody sees a report with no inquiries. (Or however many you started with before your spree).

The third point is related to the concept of "utilization". What percentage of your total credit limits as well as what percentage of the credit limit on each card is a major factor in a FICO score. Let's take a simple example:

• 
  Bob has 3 credit cards, each has a limit of $1,000 dollars. Bob is using $900 on each credit card. This gives him a total revolving credit utilization of 90%. If Bob were to add 3 more cards each with a $2,000 credit limit, his utilization drops dramatically to 30%. While there WILL be an initial hit from the hard inquries (estimates range from 5-10 FICO points per hard), this app spree will be very benificial to his FICO score in the long run since the FICO effects of inquiries are temporary, especially if Bob uses the bumpage concept from my first point.

I'm no expert. These are just concepts that are discussed on creditboards.

Of course, IANAL, YMMV, not responsible if you burst into flames and the IRS takes your girlfriend.

 

[Zap]

I just got the card. How do I get my $30 off? Does it happen automagically?

 

[joedogma]

Originally posted by: Zap
I just got the card. How do I get my $30 off? Does it happen automagically?

Should be deducted at "shopping cart" or "check out." This deal has been going on for a while now, got it a lil while ago...not a bad deal at all. As far as opening new cc cards and canceling them, i think it may hurt your score a VERY little bit but if you have good credit to begin with...no worries. More important is how much outstanding debt you have, for how long, and if the debt is shrinking or increasing...

 

[Zap]

Thanks, joedogma.