Amazon cedit card WARNING

vonjosrob

I have just realised after receiving statement that amazon only offer the interest free on purchases made from amazon site, anything else will be charged interest and will only be cleared off once amazon purchases are cleared first, wish i had noticed thir :mad:

DorsetDave2

I've just been caught the same way too. You just don't realise it when you apply. I queried it when it gave a figure on my statement for estimated interest for next month. I bet hundreds have been caught this way. (Trust those Bankers to work another flanker)
I just wonder if vonjosrob you should rename your Thread as " Amazon Credit Card WARNING" which would alert more people to this. I think they may be more inclined to go to your thread then.

Consumerist

I recently made a purchase from Amazon and they were pushing their card during the process. I very nearly went for it and I wasn't aware of the catch you have highlighted.

I agree that their advertising headline is misleading.

Thanks for your warning. :beer:
.

1984ReturnsForReal_2

To be fair I think their on line marketing is pretty clear.

The New Amazon.co.uk MasterCard

• £15 will be credited to your Amazon.co.uk MasterCard once you make a purchase on your card within 180 days of the account opening

• 0% on all purchases at Amazon.co.uk for 9 months from the date your account is opened.*

• 0% on all balance transfers for 12 months (3% handling fee). For this great rate your balance needs to be transferred within the first 90 days of the account opening.

• 16.9% APR Typical rate (variable).

• Earn 1 Loyalty Point for every £1 spent at Amazon.co.uk and 1 Loyalty Point for every £2 spent elsewhere.**

• For every 1,000 Loyalty Points that you earn, you will automatically be emailed a £10 Amazon.co.uk gift certificate.

• Already have a card? Go to secure online banking to make payments and view your Loyalty Points balance.

adrianelliott

The problem isn't with their terms and conditions - those are stated pretty clearly.

Payment hierarchy is described thus: "If you do not pay your balance in full we will use your payments to reduce lower rate balances before higher rate balances."

However I do notice that payment hierarchy on credit cards catches a lot of people out. The problem is that to understand its impact on you, you have to read multiple sections of the T&Cs to know the rates, the hierarchy rule etc. Might be good if lenders were forced to summarise the info together in a 'box' somewhere

vonjosrob

yes thats the problem, if you purchase goods outwith Amazon you will be paying interest on them till you clear whatever is on interest free first. If i had paid more attention to this I would not have used Amazon card for anything else, but im glad i noticed it sooner rather than later

ElkyElky

All of that information is clearly displayed should you take the time to read the documentation that accompanied your card. It really isn't that difficult to read the terms and conditions when applying for a card.. that is of course you can read.

So many people come on this forum moaning about getting stung with interest charges and god knows what else... it is what they agreed to upon taking up the card. Don't like it? Tough.

jonnyd281

adrianelliott wrote: »

The problem isn't with their terms and conditions - those are stated pretty clearly.

Payment hierarchy is described thus: "If you do not pay your balance in full we will use your payments to reduce lower rate balances before higher rate balances."

However I do notice that payment hierarchy on credit cards catches a lot of people out. The problem is that to understand its impact on you, you have to read multiple sections of the T&Cs to know the rates, the hierarchy rule etc. Might be good if lenders were forced to summarise the info together in a 'box' somewhere

Both my credit cards have this information written on the monthly statement.
Interest rates for
Purchases
Balance Transfers
Cash Advances

It even tells me in what order things are paid off.

Rgds

Jon

jm28cardiff

You can earn Amazon points on non Amazon purchases, so for me its still a good card to do my daily spending on....well, once the balance is cleared anyway!

marksoton

The amazon card is effectively a reward card. You will never make as much back in rewards as the interest will be if you leave a balance on it.

In other words, if you don't pay in full each month it isn't the card for you !

vonjosrob

Ok point taken, on reading it it seems clear enough, ill just need to clear it, but this is not so much of a moan but a warning to those who may not realise and purchase outwith Amazon website