Credit Cards

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

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  • Oct 21st, 2018 5:14 pm
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Member
Feb 11, 2004
260 posts
20 upvotes
Kamloops
I don't see any place to apply at all.... wierd, seeing as how they put out a press release about it on Monday. I want one... I would like to have a Visa with decent cashback (all my other cards are MC), and with the forex advantage seems like the perfect card to keep with a low limit for online purchasing.
Member
Jan 26, 2011
233 posts
14 upvotes
Coquitlam
halflife150 wrote:
Apr 5th, 2012 1:28 pm
Good to see finally 0 rate forex card in Canada, almost standard now for US cards. Hopefully this brings some competition, and other cards follow.

I disagree with other bashing this card, I think this will be very popular on RFD. Day doesn't go by without someone posting about how to avoid forex fees on purchases. Now you just need to get this card, avoid all fees and get 1% rewards as well. Don't need to bother with a USD card, unless you have USD source income which I doubt most people do. The 6/12 interest free months on amazon.ca purchases is good. Rewards average, and rest is crap, but that 0% forex is a big deal.



No where in the fine print does it say visa has an impeded 1% fee. I don't know where people keep on coming up with this. It's just a made up number with no proof. Visa buys at the wholesale rate, which is basically the market, maybe a most a couple of basis points higher depending market/limit, but not a 100 points.
See my post above for the markup in the past couple of days.

The visa markup ranges from minus 40 base points to 80 base points. Assuming Bank of Canada rate is mid market.
[OP]
Newbie
Apr 8, 2010
4 posts
45 upvotes
St. Catharines, ON
storm867 wrote:
Apr 4th, 2012 11:26 pm
well one of the reasons is they like to lower your credit limit after you make a big payment had a sears mastercard with a $4500.00 make a payment of $1900.00 then they lowered my limt to $1000.00 reasons for doing this its your credit report :/ pulled my credit report and all cards owing $0.00 but that one card with a score of 721 on equifax with 4 credit inquirys over the last 24 months

I don't quite follow what you're trying to say here.....why were there 4 credit inquiries over the last 2 yrs.? And, did this just happen to you or are there others you know of? There's always someone who's had a terrible experience but it looks, to me, that there have been more favourable ones. I'd really like to understand your displeasure.
Deal Addict
Feb 24, 2007
1371 posts
54 upvotes
hoveran wrote:
Apr 5th, 2012 3:12 pm
See my post above for the markup in the past couple of days.

The visa markup ranges from minus 40 base points to 80 base points. Assuming Bank of Canada rate is mid market.

That's not really proof since there is much variation in the markup, you would expect the markup to be consistent, so obviously your rate isn't correct. I've done the same thing with a much larger sample rate of over 100 transactions a few years ago. I found that 90-95% transactions were around the +/- 30 basis range, while the other 5-10% were way off, as much as +/- 400 basis points. Used the BOC mid market rate as well. In the end it completely evened out, I was only off by a couple pennies over what I should have paid. So was good enough for me to say no fees, or at least minimal fees.

According to Visa site regarding foreing exhange:
What is Visa’s fee structure for international transactions?
Visa Inc. does not assess any fees to cardholders or merchants.

How does Visa calculate its rate?
The Visa rate is selected from a range of rates available in wholesale currency markets or the government-mandated rate in effect one day prior to the applicable central processing date. Visa makes this rate available to issuing banks, which may adjust the rate when billing cardholders by applying a foreign transaction fee. The rate Visa makes available to issuing banks may vary from the rate Visa itself receives


The above at least suggests there isn't any fees or markups, though the whole thing is kind of vague, and the last line suggests there could be some markups.
Member
Jan 26, 2011
233 posts
14 upvotes
Coquitlam
halflife150 wrote:
Apr 6th, 2012 6:13 pm
That's not really proof since there is much variation in the markup, you would expect the markup to be consistent, so obviously your rate isn't correct. I've done the same thing with a much larger sample rate of over 100 transactions a few years ago. I found that 90-95% transactions were around the +/- 30 basis range, while the other 5-10% were way off, as much as +/- 400 basis points. Used the BOC mid market rate as well. In the end it completely evened out, I was only off by a couple pennies over what I should have paid. So was good enough for me to say no fees, or at least minimal fees.

According to Visa site regarding foreing exhange:
What is Visa’s fee structure for international transactions?
Visa Inc. does not assess any fees to cardholders or merchants.

How does Visa calculate its rate?
The Visa rate is selected from a range of rates available in wholesale currency markets or the government-mandated rate in effect one day prior to the applicable central processing date. Visa makes this rate available to issuing banks, which may adjust the rate when billing cardholders by applying a foreign transaction fee. The rate Visa makes available to issuing banks may vary from the rate Visa itself receives


The above at least suggests there isn't any fees or markups, though the whole thing is kind of vague, and the last line suggests there could be some markups.

Now I see why my calculation was wrong. Visa actually uses the mid-market rate of the prior date, not the rate on the same day of processing. Thanks for pointing that out.
Deal Fanatic
User avatar
Dec 25, 2003
8953 posts
1027 upvotes
Vancouver
Totally getting this card. I do tons of shopping in the US but have no USD income so this kills any other CC in terms of rewards/fees combo.
General Radek had some good ideas.
Deal Addict
Nov 6, 2003
3400 posts
289 upvotes
I want this card because i don't have U.S. income, but lots of U.S. expenses.

When can i apply for this card? There is no active application yet?
Deal Fanatic
User avatar
Dec 25, 2003
8953 posts
1027 upvotes
Vancouver
[with this. It's just a made up number with no proof. Visa buys at the wholesale rate, which is basically the market, maybe a most a couple of basis points higher depending market=cko64;14542084]I want this card because i don't have U.S. income, but lots of U.S. expenses.

When can i apply for this card? There is no active application yet?[/QUOTE]

http://www.chase.ca/amazon

Cardmembers Receive a $15 Amazon.ca Gift Certificate
Apply on Amazon.ca
Upon approval, instantly use the card to make purchases on Amazon.ca
Receive a $15 Amazon.ca Gift Certificate upon approval
Cardmembers Earn Rewards and Get Automatic Statement Credits
Double rewards points when shopping at Amazon.ca
One reward point per dollar spent everywhere the Amazon.ca Visa® credit card is accepted
Every 2000 points earned are automatically redeemed for a $20 statement credit
Cardmembers Take Advantage of Financing for Larger Qualifying Amazon.ca Purchases
6 month financing on individual items of $199 or more
12 month financing on individual items of $499 or more
No administration fees and the financed amount includes taxes
Visa payWave makes paying for everyday purchases quicker and easier than ever. Cardmembers simply look for the Visa payWave logo on a merchant's terminal and wave the Amazon.ca Rewards Visa Card. There is no need to enter a PIN or sign a receipt.
General Radek had some good ideas.
Deal Addict
Nov 6, 2003
3400 posts
289 upvotes
1226 wrote:
Apr 6th, 2012 8:13 pm
http://www.chase.ca/amazon

And it works for you? When i click on it, it ask for Chase credit card number. I think that link is only for current Chase card holder. There is no apllication that I can see.
Deal Fanatic
User avatar
Dec 25, 2003
8953 posts
1027 upvotes
Vancouver
cko64 wrote:
Apr 6th, 2012 8:21 pm
And it works for you? When i click on it, it ask for Chase credit card number. I think that link is only for current Chase card holder. There is no apllication that I can see.

Sorry, I guess I wasn't reading that closely. I thought it said "Apply Now".
General Radek had some good ideas.
Deal Addict
Nov 6, 2003
3400 posts
289 upvotes
I found a phone number for Amazon.ca Chase Visa which says I can apply over the phone.

Amazon.ca Rewards ® Visa® Card
English: 1-866-557-7811
French: 1-888-514-2015

But no luck. The CSR confirmed I can't apply it yet. I asked when I can apply, he said maybe next week.
Deal Addict
Oct 8, 2006
2051 posts
124 upvotes
cko64 wrote:
Apr 6th, 2012 11:11 pm
I found a phone number for Amazon.ca Chase Visa which says I can apply over the phone.

Amazon.ca Rewards ® Visa® Card
English: 1-866-557-7811
French: 1-888-514-2015

But no luck. The CSR confirmed I can't apply it yet. I asked when I can apply, he said maybe next week.

To call the above number was my idea for Monday. As I see, no point to call and "maybe" sounds not very promising. Going to Europe in two weeks, I need this card badly. :(
Newbie
Apr 1, 2012
13 posts
7 upvotes
VANCOUVER
This is absolutely bizarre that there's a press release yet no one can actually get this card, and even their CS is saying we have to wait...
Newbie
Apr 1, 2012
13 posts
7 upvotes
VANCOUVER
I think I found the card here:
http://www.amazon.ca/gp/cobrandcard/marketing.html ... I was able to open up the application page, but didn't send it in.

I was trying to compare the Canadian card to US and UK cards when I realized how similar the addresses were, and on a lark tried with .ca, and it worked :)

US card: http://www.amazon.com/gp/cobrandcard/marketing.html
UK card: http://www.amazon.co.uk/gp/cobrandcard/marketing.html

Card is not as good as the US w/ 3x points in the US.

There's also a Japanese card: http://www.amazon.co.jp/gp/cobrandcard/marketing.html that looks like an amex, but I can't understand anything on there. No French card.

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