Credit Cards

Chase Visa from Amazon - All cards will be closed on March 15th, 2018

  • Last Updated:
  • Jul 18th, 2018 2:49 am
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[OP]
Newbie
Apr 8, 2010
4 posts
45 upvotes
St. Catharines, ON

Chase Visa from Amazon - All cards will be closed on March 15th, 2018

Does anyone on here have any experience with Chase Canada? I just got a notice about a new Amazon.ca Visa through Chase....and it's a cash back. It sounds like a pretty good deal for me, as I do buy from them and it's a large part of my online shopping, but I don't know anyone who's dealt with Chase. I'd love to hear from anyone here, good or bad....especially anything bad to look out for.

Thanks!

[NOTE]This card will be closed as of March 15th, 2018: https://www.amazon.ca/gp/cobrandcard/marketing.html
Thread Summary
*March 14 is the last day you can use your card. March 16 is the first day you should start requesting for a refund cheque and any credit.
Don't bother closing the card yourself or your points are forfeited.

Official notice and FAQ regarding the closure

https://www.chase.com/online/canada/amazon-ca-home.htm
What will happen to my Amazon.ca Rewards Visa Card cash back?

As your account will be closed as of March 15, 2018, you will no longer earn cash back on your Amazon.ca Rewards Visa Card account after March 14, 2018. If you had unredeemed cash back points on your account prior to closure, we will apply a statement credit to your account for the cash back amount.
Visa sets a SINGLE exchange rate per day

The "exchange rate" shown on your statement isn't the actual rate used to calculate the CAD amount, it's the amount of the rounded-to-the-nearest-penny CAD charge divided by the original currency charge.

This leads to "multiple exchange rates" on the same day and confuses people every few pages in the thread :)

Here's the umpteenth explanation I just posted:

https://forums.redflagdeals.com/viewtop ... p=27991777
ace604 wrote:
Jul 11th, 2017 6:29 pm
1) Take amount in USD.
2) Multiply by real Visa exchange rate not shown anywhere on your statement.
3) Round the CAD amount to the nearest penny.
4) Show you a fake exchange rate for that transaction that exactly equals (3) / (1)
5) Confuse people who post to forums (once a month it seems) to ask the same question :D

If you take the US amount and multiple by the "exchange rate" they show you, you will likely get an amount that ends in $x.yz0001 or basically exactly round numbers of pennies.

What are the odds of that happening for all your transactions? Zero :)

Example rate 1.3000
$9.99 purchase = $12.987 = $12.99 ($9.99 @ 1.3003)
$10.00 purchase = $13.00 ($10 @ 1.3000)
$10.01 purchase = $13.013 = $13.01 ($10.01 @ 1.2997)

Now their "rates" are rounded too, but when you multiply by the USD amount you get very VERY close to exact pennies.
$9.99 x 1.3003 = $12.989997
$10.00 x 1.3000 = $13.00000
$10.01 x 1.2997 = $13.009997
Official daily Visa rates visible here:
https://usa.visa.com/support/consumer/t ... lator.html
5282 replies
Newbie
Nov 12, 2007
45 posts
7 upvotes
I have a Best Buy Chase Visa, nothing spectacular but no complaints, either. I like this Amazon card if you buy a lot on Amazon since it's really a cash back card and pays out in $20 increments... but I also like it since it appears to have no foreign transaction fees, which is awesome if you shop or travel to the US, compared to most cards I have, which all seem to charge 2.5% on top of the exchange rate...
Deal Fanatic
Nov 11, 2008
7213 posts
1076 upvotes
Nothing special. The only thing that really caught my eye is the foreign fee. Everything else just works out to 1% on everything, 2% on amazon.ca purchases. I don't purchase from amazon.ca enough to take advantage of this.

here's the link for anyone that's interested.

https://www.chase.com/online/canada/amazon-ca-home.htm
Member
User avatar
Sep 19, 2010
451 posts
76 upvotes
Marieville
Only good thing is the NO foreign fee...i already have 2% with my cap1 aspire travel world....so maybe i'll check it more seriously if the gave sign up bonus or amazon gc...
Deal Addict
Oct 8, 2006
2051 posts
124 upvotes
Hmm, as my shopping is mostly in the US, this card looks interesting. I wish only one thing, Amazon.ca to have same selection as Amazon.com.
Moderator
User avatar
Mar 23, 2004
36983 posts
3598 upvotes
Markham
Vasyl wrote:
Apr 3rd, 2012 9:39 pm
I wish only one thing, Amazon.ca to have same selection as Amazon.com.

+1.
「もし、奇跡を起こせたら……」
Deal Addict
User avatar
Oct 16, 2008
4196 posts
1238 upvotes
So they come out with an Amazon visa with no foreign transaction fee, and they fail to provide bonus points for purchases on Amazon.COM

Seriously, who even uses Amazon.ca? I buy stuff from there maybe once a year if that. And 2% is hardly appealing, as Chase offers Americans 3% for Amazon.COM purchases. Once again, Canadians get shafted.
[OP]
Newbie
Apr 8, 2010
4 posts
45 upvotes
St. Catharines, ON
Vasyl wrote:
Apr 3rd, 2012 9:39 pm
Hmm, as my shopping is mostly in the US, this card looks interesting. I wish only one thing, Amazon.ca to have same selection as Amazon.com.

Couldn't agree with you more.....but they seem to be improving. Some day, they may catch up but heaven only knows when that might be... :confused: Thanks for all the responses, you all are great!
Deal Addict
Dec 31, 2009
1568 posts
138 upvotes
ilove wrote:
Apr 4th, 2012 4:03 am
Seriously, who even uses Amazon.ca? I buy stuff from there maybe once a year if that.
The next time you see a UPS delivery vehicle, try and sneak a peek in the back. Or ask the driver. You'll see how many people use Amazon.ca.

I'm a Blu-Ray/DVD collector and it's the first place I check for prices. Anything electronic? Yup, I go there first. And there's a good chance that's where I complete my purchase. It's free shipping and I get Air Miles. If I order by 3pm there's a good chance it'll be at my door by 10AM the following day (yes, even with the free-shipping option.)

I've bought quite a bit of other stuff there too. It was the only place I could find a break maker that the finished product looks like an actual loaf of bread, not those tall square things that make your slice of bread look like it came from the moon.

Back on topic. At one time or another I had the Chase Best Buy Visa, and the plain Best Buy in-store card (thru Chase), and the Future Shop card (again, thru Chase). I cancelled them all though because I get better rewards with other credit cards. Chase is pretty good to deal with. Their website is usable and has lots of options for alerts and such.
Deal Addict
Mar 2, 2005
1996 posts
270 upvotes
I second amazon.ca's shipping, it has blown me away at times. Sometimes I order on Wednesday (thinking they will arrive by Friday in time for the weekend) and most of the times they arrive on Thursday. Their collection of movies (international) is awesome, not to mention if one's looking for an old Hollywood classic, dude at BestBuy doesn't know what it is, finds it in the system and doesn't find it on the shelf. I have better things to do than waste time with that.

Before I get bashed for purchasing movies (this is RFD) its my hobby and something that's very dear to me. I have also scored some amazing deals on power tools from amazon.ca as well. Sure it doesn't have clothing and shoes and $5 goggles but it still has as much (if not more) as a big box Canadian store.

The only thing that surprised me is the fact that they never advertised it on their website and are not offering any sign up bonuses. Card doesn't seems like a bad deal if one is to include no foreign exchange fees.
Deal Expert
User avatar
Dec 11, 2005
18786 posts
1204 upvotes
Chase is the worst credit card issuer in Canada. They are the issuer of Sears Canada cards as well. Avoid.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
Deal Addict
User avatar
May 19, 2005
3419 posts
442 upvotes
Markham
I think I bought maybe 1 thing from amazon.ca, I've shopped at amazon.com and amazon.co.uk more. Too bad you can't get a Amazon.com credit card without a SSN. This amazon.ca card probably isn't worth it unless you do a lot of foreign transactions.
Jr. Member
Oct 29, 2008
168 posts
10 upvotes
yeah but wouldn't this amazon.ca visa be just as good as a US$ credit card that some people carry.
Deal Addict
User avatar
May 19, 2005
3419 posts
442 upvotes
Markham
ukilledanoob wrote:
Apr 4th, 2012 6:31 pm
yeah but wouldn't this amazon.ca visa be just as good as a US$ credit card that some people carry.

Not quite. If you notice the fine print says they use the Visa rates, which is typically about 1%. You save the 2.5% most banks pile on top of this. A USD credit card will mean there's no conversion costs (assuming you already have USD available and don't need to buy more).
Sr. Member
User avatar
May 23, 2011
715 posts
158 upvotes
How do you apply for it? The "Start Now" button just takes you to a login page :\

I order a lot of stuff from US sites, the no foreign fee could come in handy.

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