Apple Card vs Amazon Prime Rewards Visa: which credit card offers the most cash back and b...

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  • Reply 21 of 41
    Can you use the Amazon card for Apple Pay though and add intro your Apple wallet?
  • Reply 22 of 41
    Maybe I’m wrong here, but I see this tie-up with Goldman Sachs and Visa the first step for Apple. There’s no reason they can’t learn this business inside and out and eventually have their own secure network to compete against the VisaNet and there’s no reason they couldn’t offer the financial services of Goldman Sachs.

  • Reply 23 of 41

    Unfortunately as an expat living overseas cannot get the apple card! Why!
    watto_cobra
  • Reply 24 of 41
    GeorgeBMacGeorgeBMac Posts: 4,463member
    mdirvin said:
    I'm not sure the Amazon 5% cash back is that great.  Yes you can cherry pick items that are less at amazon, but most items can be found at least 5% cheaper elsewhere /w free shipping.  No prime needed at $119 per year.  Many smaller to intermediate  businesses don't charge TN sales tax as they don't do enough $$$ sales to trigger the requirement.  For me anyway I don't see any upside the the Amazon Card. As far as the interest rates go I haven't paid a CC company interest for at least two +  decades.

    Hmm don’t know what you are buying from Amazon but that is most definitely not myself or my wife’s usage case.  Sure other sites like Newegg sometimes best Amazon pricing but usually not. Amazon usually has the best price and with free shipping and hassle free returns.  

    Those lower eBay prices come with a dose of potential problems like wrong items, used items, and plan old ripoffs and a nightmare.  
    My experience with EBay, after many hundreds of purchases, has been quite the opposite:  Nothing but positive, very positive.
    But, you need to do your homework:   Know what you're buying, read the description and the seller's ratings (which I have found to be accurate).

    Plus, the addition of used items expands the field far more than Amazon can:   One of my recent purchases was a used throttle cable for a very old Mantis Tiller that is no longer made and you just can't get it new anymore.   And another was late last year I picked up a very nice 8Gb, 2014  MacBook Air for $239.

    As for returns:   most vendors offer them.   But, even if they don't, returns remain free and easy if the seller misrepresented the item. 
    For myself:  if it isn't gas or food, it probably came from EBay.   
    watto_cobra
  • Reply 25 of 41
    GeorgeBMacGeorgeBMac Posts: 4,463member
    mazda 3s said:
    mdirvin said:
    I'm not sure the Amazon 5% cash back is that great.  Yes you can cherry pick items that are less at amazon, but most items can be found at least 5% cheaper elsewhere /w free shipping.  No prime needed at $119 per year.  Many smaller to intermediate  businesses don't charge TN sales tax as they don't do enough $$$ sales to trigger the requirement.  For me anyway I don't see any upside the the Amazon Card. As far as the interest rates go I haven't paid a CC company interest for at least two +  decades.

    I use my Amazon card frequently since I shop a lot at Amazon, and it works for me. I use it along with three other cards (primarily) and pull one out depending on the purchase. I have a card for every occasion. 

    Amazon Rewards: I put all my Amazon purchases (5%) on the card and buy gas with it (2%). 
    Uber Credit: 4% dining, 3% travel, 2% all online purchases, 1% everything else
    Chase Freedom: 1% everyday, 5% quarterly rewards categories (gas, home improvement, grocery stores, etc)
    Amex Everyday: I only use it for the special $$$ cash back store offers.

    I don’t do cards with annual fees and I pay my balances in full each month. Not really seeing how the Apple Card would really help me much though. Only time I use Apple Pay is at Sheetz for gas. 
    To a lesser extent, I do the same -- except I use Discover and a Chase Freedom Unlimited because it offers 1.5% on everything (I switch to Discover for its  specials).   And, I avoid anyplace  that doesn't take ApplePay.   I go mostly to Sheetz because you can use ApplePay right at the pump.
    watto_cobra
  • Reply 26 of 41
    GeorgeBMacGeorgeBMac Posts: 4,463member
    There’s another factor not covered in this article, and that’s security and privacy.  I’d love to see an article delving into those aspects.  
    My concern as well. I don’t shop Amazon at all, partly for privacy concerns. I do use Apple Pay and very much appreciate the security of it. Every year or two we’ve had our credit card compromised. It doesn’t cost anything but it is a royal PITA because of all the auto-payments we have tied to the card. 
    That's a good reason to get the Apple Card:  Use it for "mobile" purchases and reserve the other for auto-pay.
    watto_cobra
  • Reply 27 of 41
    GeorgeBMacGeorgeBMac Posts: 4,463member
    robbyx said:
    Apple Card is good card with pretty good cashback rewards and exceptional tools for managing your money.
    Except that no one actually has an Apple Card yet.  Calling tools you've never used "exceptional" smacks of propaganda, not journalism.  Sure, Apple has detailed some of the features, but until we get to use them and compare them to features found in other bank and financial management apps, one can't really call Apple's offerings "exceptional", or anything else for that matter.

    This article did convince me to get a Prime card, though!  I had never paid any attention to it because I didn't want another credit card, so I didn't realize they offered 5% back at Amazon and Whole Foods.  The Apple Card doesn't interest me.  Some of the demoed features look cool, but I prefer using a full-blown finance app (I use Banktivity) because my credit card charges don't live in a vacuum and I want to see my whole financial picture - and plan accordingly.
    It is very unlikely that its tools will match those of Quicken:
    20 years ago I stopped using cash and started using credit cards for everything -- mostly so that, when I got home I recorded the receipt (Who it paid and what it was for) into Quicken.   Not only do I get a quick easy, reconciliation at the end of them month, but an instant and accurate fraud check (no memory required).   And, best of all:   I can tell you where every penny came from and went to (and why) for the past 20 years.
    edited April 28 watto_cobra
  • Reply 28 of 41
    Does the Amazon card give you credit when you buy gas from a warehouse club ? Do you get 1% or 2%...all credit cards that I know of only give 1-to 1.5%...except buying at costco with their credit card.
    edited April 28 watto_cobra
  • Reply 29 of 41
    davendaven Posts: 525member
    One card keeps your transactions anonymous and the other tracks your every move for marketing and whatever. Hmmmm..... I have nothing to hide but I don't like my every move being tracked. Sure I could pay cash for everything but I like the cash back, convenience, and easy budget tracking of a credit card.
    lostkiwiGeorgeBMacwatto_cobra
  • Reply 30 of 41
    chasm said:
    In addition to avoiding fees on any card by paying the balance promptly within a month, paying regularly and promptly also does wonders for your credit rating, though to really maximize your credit rating, it's best to (occasionally) carry a small outstanding balance for a quarter ever few years. People who religiously pay zero interest because they are so prompt in paying off their debt don't get the best ratings from the CC companies for fairly obvious reasons, but there's no need to pay very much interest if you are careful in when it's worth paying off a balance a bit slower than "all at once within the month."
    This is patently false. There is absolutely zero benefit to the customer in ever paying interest. This is a lie told by banks to get you to carry a balance.  You do need to use a card to get maximum benefits to your credit but the information on your credit report does not indicate whether or not you are paying the card off or not. 
    watto_cobra
  • Reply 31 of 41
    eightzeroeightzero Posts: 2,354member
    mazda 3s said:
    mdirvin said:
    I'm not sure the Amazon 5% cash back is that great.  Yes you can cherry pick items that are less at amazon, but most items can be found at least 5% cheaper elsewhere /w free shipping.  No prime needed at $119 per year.  Many smaller to intermediate  businesses don't charge TN sales tax as they don't do enough $$$ sales to trigger the requirement.  For me anyway I don't see any upside the the Amazon Card. As far as the interest rates go I haven't paid a CC company interest for at least two +  decades.

    I use my Amazon card frequently since I shop a lot at Amazon, and it works for me. I use it along with three other cards (primarily) and pull one out depending on the purchase. I have a card for every occasion. 

    Amazon Rewards: I put all my Amazon purchases (5%) on the card and buy gas with it (2%). 
    Uber Credit: 4% dining, 3% travel, 2% all online purchases, 1% everything else
    Chase Freedom: 1% everyday, 5% quarterly rewards categories (gas, home improvement, grocery stores, etc)
    Amex Everyday: I only use it for the special $$$ cash back store offers.

    I don’t do cards with annual fees and I pay my balances in full each month. Not really seeing how the Apple Card would really help me much though. Only time I use Apple Pay is at Sheetz for gas. 
    This does take some management, and I do something very similar. The Costco branded card is 4% at their fuel concession, and it is always the least expensive fuel (and top their at that.) And it is 3% on travel. Yes, it there is a "club" fee, but once you decide you are going to pay that fo access to the store anyway, it isn't a discriminator. 

    It is true that Amazon often does not always have the cheapest prices. For anything major, I generally shop things, but you sure can't beat the convenience of click, click, done and it shows up at your door. Prime makes this possible I also have had good results with returns, as there is an Amazon retail location within easy walking distance from my house. 

    Discover (and others) offers rotating 5% categories. Once a year they do grocery stores, and thats a fast $75 (the limit.)

    I can see the Apple Card being my go to default for the 2% when nothing else suits.

    It does take a bit of planning, but I've pocketed over $1000 year doing it, so it is worth it. To me.
    Solichemenginwatto_cobra
  • Reply 32 of 41
    eightzeroeightzero Posts: 2,354member
    mdirvin said:
    I'm not sure the Amazon 5% cash back is that great.  Yes you can cherry pick items that are less at amazon, but most items can be found at least 5% cheaper elsewhere /w free shipping.  No prime needed at $119 per year.  Many smaller to intermediate  businesses don't charge TN sales tax as they don't do enough $$$ sales to trigger the requirement.  For me anyway I don't see any upside the the Amazon Card. As far as the interest rates go I haven't paid a CC company interest for at least two +  decades.

    The sales tax issue is going to quickly go away as well. SCOTUS held that states can charge sales tax on a much broader basis, and you can expect states to pass statutes quickly to do just that. And Amazon will be one of the first targets for states to audit. 
    GeorgeBMac
  • Reply 33 of 41
    FolioFolio Posts: 555member
    I use my Amazon Prime card only for purchases at Amazon and their affiliated Whole Foods. That limits their knowledge to what is already known (although wine/ beer purchases, Whole Food ck out person entered my birthdate from drivers licence into computer). I admire Amazon in many ways, but have already experienced what seemed like adaptive pricing based on perceived urgency for an item. So I compartmentalize info across several credit cards. I plan to get Apple Card too.
    watto_cobra
  • Reply 34 of 41
    GeorgeBMacGeorgeBMac Posts: 4,463member
    chasm said:
    In addition to avoiding fees on any card by paying the balance promptly within a month, paying regularly and promptly also does wonders for your credit rating, though to really maximize your credit rating, it's best to (occasionally) carry a small outstanding balance for a quarter ever few years. People who religiously pay zero interest because they are so prompt in paying off their debt don't get the best ratings from the CC companies for fairly obvious reasons, but there's no need to pay very much interest if you are careful in when it's worth paying off a balance a bit slower than "all at once within the month."
    This is patently false. There is absolutely zero benefit to the customer in ever paying interest. This is a lie told by banks to get you to carry a balance.  You do need to use a card to get maximum benefits to your credit but the information on your credit report does not indicate whether or not you are paying the card off or not. 
    It is, well, sorta, kinda false.   A little.
    Actually, having a loan that you pay on regularly boosts your credit score.  When I paid off my student loan my credit score dropped 35 points within a month.   So, in a sense, paying interest boosts your credit score.
    watto_cobra
  • Reply 35 of 41
    chasm said:
    In addition to avoiding fees on any card by paying the balance promptly within a month, paying regularly and promptly also does wonders for your credit rating, though to really maximize your credit rating, it's best to (occasionally) carry a small outstanding balance for a quarter ever few years. People who religiously pay zero interest because they are so prompt in paying off their debt don't get the best ratings from the CC companies for fairly obvious reasons, but there's no need to pay very much interest if you are careful in when it's worth paying off a balance a bit slower than "all at once within the month."
    This is patently false. There is absolutely zero benefit to the customer in ever paying interest. This is a lie told by banks to get you to carry a balance.  You do need to use a card to get maximum benefits to your credit but the information on your credit report does not indicate whether or not you are paying the card off or not. 
    It is, well, sorta, kinda false.   A little.
    Actually, having a loan that you pay on regularly boosts your credit score.  When I paid off my student loan my credit score dropped 35 points within a month.   So, in a sense, paying interest boosts your credit score.
    You are comparing 2 different scenarios. The original comment was referring to carrying a balance in a credit card instead of paying it off every month.  This does not effect your score. Having open accounts can impact your score. Also having different types of open accounts such as revolving, installment loan, and mortgage. So yes having a loan close could negatively impact your score especially if it was the only installment loan open. 
    chemengin
  • Reply 36 of 41
    jdwjdw Posts: 742member
    robbyx said:
    My card gets compromised at least once a year.  I've never had to pay for anything.  No big deal.  I think a lot of people get a bit histrionic when it comes to "security and privacy" quite honestly.  
    Dealing with fraud charges is a pain, and that is the plain truth.  No drama or hysteria.  I know this from having to deal with it this year.  Multiple voice calls initiated by me were required, being put on hold every time.  They refunded for one fraud charge, but then forgot to refund the other fraud charge, promoting yet more call backs by me.  In the end, they took care of it, but let's face it, better security that would prevent ANY charges without my first approving those charges (via password or biometrics on my iPhone, for example) would eliminate that headache once and for all.  I don't care of wicked thieves make "attempts" to charge my card.  I only card when they are successful because then I have to deal with getting compensated for the fraud charges.  It's not automatically taken care of for me.  Indeed, when I first called my credit card company, they told me only about 1 fraud charge, but then I reviewed my transactions over the 30 days prior and spotted a second fraud charge.  So dealing with this is a big deal to me.

    I want to know if the Apple Card will offer me the level of security I seek (which is what you all seek, if you're honest), such that fraud charges are a thing of the past.  Hopefully AppleInsider can clarify this in a future article.
    watto_cobra
  • Reply 37 of 41
    GeorgeBMacGeorgeBMac Posts: 4,463member
    jdw said:
    robbyx said:
    My card gets compromised at least once a year.  I've never had to pay for anything.  No big deal.  I think a lot of people get a bit histrionic when it comes to "security and privacy" quite honestly.  
    Dealing with fraud charges is a pain, and that is the plain truth.  No drama or hysteria.  I know this from having to deal with it this year.  Multiple voice calls initiated by me were required, being put on hold every time.  They refunded for one fraud charge, but then forgot to refund the other fraud charge, promoting yet more call backs by me.  In the end, they took care of it, but let's face it, better security that would prevent ANY charges without my first approving those charges (via password or biometrics on my iPhone, for example) would eliminate that headache once and for all.  I don't care of wicked thieves make "attempts" to charge my card.  I only card when they are successful because then I have to deal with getting compensated for the fraud charges.  It's not automatically taken care of for me.  Indeed, when I first called my credit card company, they told me only about 1 fraud charge, but then I reviewed my transactions over the 30 days prior and spotted a second fraud charge.  So dealing with this is a big deal to me.

    I want to know if the Apple Card will offer me the level of security I seek (which is what you all seek, if you're honest), such that fraud charges are a thing of the past.  Hopefully AppleInsider can clarify this in a future article.
    I have found the most effective method is to turn on "alerts" so that the card company texts me every time a charge is made on my card - and that typically happens within seconds of the charge being made.

    I've caught two separate cases of fraud that way that I would not have caught otherwise.  The first was a $25 charge for gas at a BP.  Just reviewing a statement 30 days later I would not have questioned.  But, from the text I knew something was up.  And, when I called the card company they told it had been made 300 miles away.  (It also helps with Apple's "Family Sharing" since I have the Apple Alert turned off.)

    The other thing I've done to protect myself is to try to only shop at places that take ApplePay.  And that includes Sheetz who take right at the pump.
    watto_cobra
  • Reply 38 of 41
    In speaking of the Amazon prime card you state
    At checkout time, you can choose to reduce the price by using this cashback figure. All credit card experts say no, though, don't do it. Pay the full price and let your cashback accrue through the month.”
    I can see no logic to this. If your points have a greater value than cash then it makes sense to save them and spend them in a way that gives greater value than cash. If not which is the case with the Amazon card, use the cash back as soon as you can. Your not earning interest on it, and if you carry a balance (which is almost always the wrong decision) you are paying interest on your purchases. Minimize your carried interest, use your points as soon as you can. There is no benefit I can see on saving points. If you want to save, do it in a way that earns interest.

    As far as credit cards in general, your particular spending profile (some times a card with a fee will net more savings than a card without a fee) and overall financial picture will determine which cards are best for you. The Points Guy and NerdWallet are reasonable places to start. They are, like most everything, financed by advertising and may not review cards offered by everyone but they are good resources none the less.


    watto_cobra
  • Reply 39 of 41
    Maybe I’m wrong here, but I see this tie-up with Goldman Sachs and Visa the first step for Apple. There’s no reason they can’t learn this business inside and out and eventually have their own secure network to compete against the VisaNet and there’s no reason they couldn’t offer the financial services of Goldman Sachs.
    I can think of loads of reasons why Apple doesn't want to be a bank.  They're called "Banking Regulations".  And can be different from country to country,
    chemengin
  • Reply 40 of 41
    sarthossarthos Posts: 22member
    "That said, an Apple Card is a bit useless to you without at least an iPhone. So you could argue that the up-front cost of Apple Card is a lot more than Amazon's."

    Umm, no.  Unless you need to switch from Android to iPhone you most likely already have a paid-for iPhone.  Even if you don't, you can get a decent used phone for a 100-300 dollars one-time cost.  Then you're back to whatever phone update schedule you had before.

    You also fail to mention all of the fees on the Amazon cards and the predator billing practices of Chase bank who manages their cards.
    watto_cobra
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