Chase $200 offer for credit card: Is it really worth it?

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Josea
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Chase $200 offer for credit card: Is it really worth it?

Postby Josea » Sun Mar 18, 2012 5:45 pm

I was approved for the Amazon Chase card (this is my first card) with a $2000 limit. I did this all online and got $30 off my purchase, the details said my score is 689 (out of 1000).

NOW I see a Chase offer of spend $500 from 4-1-2012 til 6-30-2012 and get points equal to a $200 bonus. Would it be worth my time to apply?

I have very limited credit history, am retired, income 50K annual, own my home and have no debts.

Thanks for any replies, J


irvine801
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Postby irvine801 » Mon Mar 19, 2012 11:06 am

It's a great deal. I missed out on it! But the Chase card is a great cash rewards card. I would know! :)
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit

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bisbicos
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Postby bisbicos » Mon Mar 19, 2012 1:05 pm

I got my chase freedom a few weeks ago with the 200 cash back offer. I spent the required 500 and immediately paid it off. I'm waiting for my check now. I like the card but hate the 22.99 %apr
Credit Cards
American Express: Fidelity Rewards (2% cash back) 9.5k
Zync NPSL
Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
Visa: Citi Forward (5x pts on restaurants) 15.7k
Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
BofA AAA (5% on gas) 2.5k
PenFed Platinum Rewards (5% on gas 3% groceries) 7.5k

Future Cards
US Bank Cash +
Chase Ink

irvine801
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Postby irvine801 » Mon Mar 19, 2012 4:09 pm

My Chase card Apr is crap well. 23.99 %!!
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit

Celestine
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Postby Celestine » Mon Mar 19, 2012 5:05 pm

Josea wrote:I was approved for the Amazon Chase card (this is my first card) with a $2000 limit. I did this all online and got $30 off my purchase, the details said my score is 689 (out of 1000).

NOW I see a Chase offer of spend $500 from 4-1-2012 til 6-30-2012 and get points equal to a $200 bonus. Would it be worth my time to apply?

I have very limited credit history, am retired, income 50K annual, own my home and have no debts.

Thanks for any replies, J


Basic Personal Finance... If you think you can spend $500.00 worth of living expenses between those days, then go for that offer. I assume you have tons of savings in your bank so you might get approved for it.

But if you only want to spend $500.00 worth of purchases only to get those points equal to $200.00 bonus, then it is not good. Let's put it this way... you want to spend $500.00 worth of purchases just to get a $200.00 worth of bonus points.

As for the APR... if you don't want or won't carry a balance on the mentioned card, then APR will not be an issue to you regardless it is high or low.
"Nearly all men can handle adversity, but if you really want to test a man's character - give him power." - Abraham Lincoln

JCarter
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Postby JCarter » Wed Mar 21, 2012 12:20 am

You could call Chase directly and ask them if they would consider switching you out to that card. They'll conduct a credit review and see if you qualify. Be sure to read the terms and conditions to make sure it doesn't apply to new customers only.

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Josea
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Postby Josea » Sun Mar 25, 2012 6:55 am

^^^ Thanks for all replies, JCarter, I got my rejection letter Friday for the Chase card with the $200 bonus, stating I had made too many recent applicaitions. I called and was told nothing can be done AFA switching out. Also asked for a supervisor who seemed to read from the same script.

~ Celestine thanks for your input as well, I never will carry a balance and spend about $2500/ month. I am considering canceling the AMAZON/chase card and applying for the Chase Freedom (with the spend $500 get $200)

Does anyone think this is a good move or should I look to other companies? (and keep the Chase Amazon card).

I truly appreciate all the help, I am fairly clueless about credit cards/rewards etc.



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