Is it worth getting an Amazon Visa just to save $50 on a Cameo?

Two Peas is Closing
Click here to visit our final product sale. Click here to visit our FAQ page regarding the closing of Two Peas.

Posted 12/1/2012 by naby64 in General Scrappin'
 

naby64
Made 5000, now what?

PeaNut 180,263
December 2004
Posts: 7,868
Layouts: 156
Loc: Arkansas

Posted: 12/1/2012 8:07:37 PM
Talked myself back into the Cameo. I want the SD card capability. So I load it into my cart and get a popup about saving $50 IF I get the Amazon Visa. Now DH works for a bank that has one of the lowest rates out there on Visas(or it did). We don't use a Visa at most times so it is not even a card that will get used. Does anyone have one? Is there a fee? I wonder if I can cancel it after so long?

So what would the Peas do?


Renee
mom to 3 great kiddos - 21, 19, 16
GO HOGS!!!
GO RED WOLVES!!!

Renee's Musings



weaselwatchr
Ancient Ancestor of Pea

PeaNut 26,011
December 2001
Posts: 5,649
Layouts: 212
Loc: Peaing in my living room

Posted: 12/1/2012 8:31:09 PM
I wouldn't do it.


Danica





Uploaded with iPhone client

naby64
Made 5000, now what?

PeaNut 180,263
December 2004
Posts: 7,868
Layouts: 156
Loc: Arkansas

Posted: 12/1/2012 8:36:41 PM
DH is asleep or I would ask him. I have to think he would say no to it also. Danggit, I hate it when common sense and the right thing overrule saving money.


Renee
mom to 3 great kiddos - 21, 19, 16
GO HOGS!!!
GO RED WOLVES!!!

Renee's Musings



KrissaChelon
PeaNut

PeaNut 534,649
December 2011
Posts: 365
Layouts: 7
Loc: Kentucky

Posted: 12/1/2012 8:40:13 PM
If you don't already have Prime.. you can do a free 30 day trial so you can get free 2 day shipping. Then you can cancel before your trial is up with no pinalties. That's what I did.

scrappinbetty
Kindness & Compassion - Free to Give, So Valuable

PeaNut 61,111
January 2003
Posts: 13,653
Layouts: 18
Loc: Texas y'all

Posted: 12/1/2012 10:32:10 PM
If you are at all concerned about your FICO score, then my advice would be don't do it unless you really need that card. Your FICO score is affected by available credit vs. debt and by the age of your credit accounts. Opening and closing credit accounts can be damaging to your score.

Getting a card just to save $50 does not make financial sense, to me.


Steph
Scrappinbetty

My Blog:
PaperCraftersCorner

Twitter:
@papercrafters


mama nay
StuckOnPeas

PeaNut 191,474
February 2005
Posts: 2,289
Layouts: 0
Loc: in the sunshine

Posted: 12/2/2012 12:27:35 AM
I would. 50$ is a decent amount of savings especially if you aren't looking to make a BIG purchase such as a house or car, etc where you credit card score comes into play AND you have good credit that this kind of thing won't hurt. You can always cancel it when it comes. It will still be reflected on your credit score even after you cancel it though.

If your credit is iffy I would not.


~~Mama Nay~~

naby64
Made 5000, now what?

PeaNut 180,263
December 2004
Posts: 7,868
Layouts: 156
Loc: Arkansas

Posted: 12/2/2012 8:12:35 AM
We just pulled our score on Friday and it is GREAT!! I guess I am not understanding if this purchase gets applied to that new Visa or if I just apply and then have it for use. Which it will not get used. Or if I am just applying and then can buy the Cameo outright. I guess it is just not worth it. Hope I can pull the trigger today.


Renee
mom to 3 great kiddos - 21, 19, 16
GO HOGS!!!
GO RED WOLVES!!!

Renee's Musings



gerryglow
PeaNut

PeaNut 77,852
March 2003
Posts: 377
Layouts: 7
Loc: Illinois

Posted: 12/2/2012 8:23:16 AM
I did it when I bought my Cameo and it was totally worth it. The next time I made a purchase at Amazon it automatically billed to my Amazon Visa. I'm okay with that as I don't carry a balance on my credit cards. Here's the point of my reply though - I recently went to order some Christmas presents and when I checked out it said I had $10.20 in Visa points and did I want to apply it to that purchase. Now that was a bonus I was not expecting! I only use the card for Amazon purchases and I don't know the details of the rewards program but this seemed pretty good to me.


Gerry



Shih Tzu Mommy
Million dollar camera, 10 dollar lock!

PeaNut 224,352
September 2005
Posts: 24,004
Layouts: 0
Loc: Right here

Posted: 12/2/2012 6:07:26 PM
Get it, get the discount, pay it off and close it.



Dog people are a special breed!

scrappinbetty
Kindness & Compassion - Free to Give, So Valuable

PeaNut 61,111
January 2003
Posts: 13,653
Layouts: 18
Loc: Texas y'all

Posted: 12/2/2012 7:25:18 PM
Naby64, Congrats on your great score! Obviously you manage your finances well. I think if one is responsible about their finances and manages their credit well, then taking out a new account is not an issue. But, I would not buy that one thing and then close the account.


Steph
Scrappinbetty

My Blog:
PaperCraftersCorner

Twitter:
@papercrafters


FurryPea
Sit. Stay. Pea!

PeaNut 115,196
November 2003
Posts: 8,538
Layouts: 110
Loc: It's dark in here......I can't see a thing!

Posted: 12/2/2012 7:36:59 PM
If you were ok with the price before you found out about the card, then just skip getting the Amazon Visa.

You may not be their target shopper---one that will continue using it, not paying it off in full, paying interest, etc....but you have other factors to consider:

How is your debt to credit ratio?
How many inquiries on your credit report recently?
Have you opened new accounts recently?
Will you be applying for any type of credit any time soon?
Do you have a lot of open revolving accts..even if they have no balances?

These are all factors to consider (I am sure there is more) regarding your FICO score. And also what is a great score to you may not be great enough for a creditor since many have tightened up.

See? Too much to think about. Just pull the trigger without the discount.

If you don't have Prime, sign up for the trial so you can get it shipped for free in two days! Don't forget to cancel it if you don't want to pay for it later.


~~~~JMO~~~~





Love is love. It doesn't matter if it is a dog. ~Diane Keaton in Darling Companion~


tinaev
PeaFixture

PeaNut 370,270
April 2008
Posts: 3,076
Layouts: 22

Posted: 12/2/2012 7:44:57 PM
I would do it. $50 is a really good discount. You apply and pay off the balance as soon as the bill comes in and file the card in a drawer. You don't ever have to use it again and you boost your available credit vs used credit.
Show/Hide Icons . Show/Hide Signatures
Hide
{{ title }}
{{ icon }}
{{ body }}
{{ footer }}