Quick Answer: Is A Amazon Credit Card Worth It?

What is the catch with Amazon credit card?

There is a small catch: The 5% cash back benefit, which also applies to Amazon.com purchases, is only available to active members of Amazon Prime, a subscription program that offers free two-day shipping, access to streaming video and music, and a variety of other Amazon-specific perks for $119 a year..

Which Amazon credit card is better?

The Amazon Prime Rewards Visa Signature Card is the best credit card for Amazon purchases. It has $0 (other than the $119 Amazon Prime subscription). It also offers 5% back at Amazon and Whole Foods Market with an eligible Prime membership*. 2% back at restaurants, gas stations, and drugstores*.

Will I be approved for Amazon credit card?

A score of 640 or higher is the credit score needed for the Amazon Store Card. The better your credit score is, the higher your approval odds will be. Keep in mind that they will also look at your income, past delinquencies (if any), credit utilization, employment status, etc.

Is there an annual fee for Amazon credit card?

Prime Rewards card at a glance: … Annual fee: $119 Amazon Prime membership. Bonus: $70 Amazon gift card. Variable APR: 15.74 to 23.74 percent based on your credit score.

Do Amazon monthly payments build credit?

Building Credit with Amazon Credit Builder Synchrony Bank will report to the major credit bureaus whether you make at least the minimum payment due on time every month. Building a history of on-time payments can help build your credit.

Is it easy to cancel Amazon credit card?

How can I cancel my Amazon Credit Card? You can cancel your Amazon credit card by calling customer service at 888-247-4080. There is no fee associated with closing your account, but you will have to repay any outstanding balances.

How long do you have to pay off Amazon credit card?

21 daysYou have 21 days after the end of the billing cycle to pay the balance in full to avoid any interest charges. The late payment fee is up to $39 depending on your balance.

What is the credit limit for Amazon credit card?

Consumers can establish credit lines ranging from a minimum of $100 to a maximum of $1,000. Like many other retail cards, however, the Amazon Credit Build card can only be used for Amazon purchases, making it a “closed-loop” card.

Does Amazon store card affect credit score?

Will it affect my credit score as a credit card, or as a payment plan (not even sure if I’m explaining it). It is a credit card, like a store credit card that you can only use at the store, this one being Amazon.com. It does show up on your credit report as a revolving credit card.

What are the benefits of an Amazon credit card?

Welcome bonus* $60. Amazon Gift Card instantly upon approval. … Rewards at Amazon and Whole Foods Market* 3% back. 5% back. … Rewards at restaurants, gas stations, and drugstores* 2% back. … Rewards on all other purchases* 1% back. … No annual credit card fee†No foreign transaction fees†Bonus rewards at Amazon* Up to 20% back.

Is the Amazon credit card good?

The Amazon Prime Rewards Visa Signature Card is a fantastic card for die-hard Amazon shoppers. The 5% rewards rate on Amazon purchases and the $70 gift card you get once approved are both great rewards that are tough to beat by any other offer currently on the market.

Can I use my Amazon credit card anywhere?

The Amazon Credit Card can be used anywhere Visa is accepted, which is virtually anywhere domestically and in over 150 countries around the world. The Amazon Store Card can only be used to make purchases on Amazon.com and through select “Pay with Amazon” merchants.

Do you need Amazon Prime for credit card?

And while there is technically no annual fee associated with this card, you do have to have an Amazon Prime membership, which costs $119 a year. Amazon’s fee beats out issuers like American Express and some Citibank cards, but is higher than those of Wells Fargo or Bank of America.

What happens to my Amazon credit card if I cancel Prime?

Canceling Prime while using an Amazon Prime Rewards card When your current membership expires, Amazon will bill the annual membership fee to your account automatically. … The card can still be used for Amazon purchases, however, and still provides access to special financing offers.

How do I pay off my Amazon credit card?

Make a Payment on an Amazon Store Card or Amazon Credit Builder AccountHover over Payments at the top of the page, then scroll down and select View and Make Payments.In the first field, select Minimum Payment, Statement Balance (as of your last statement), Current Balance, or Other.More items…

Does Amazon do a hard credit check?

When you went outside of Amazon to Chase, they did a hard pull on their side which is what you saw. You’ll see a hard inquiry for both, but not necessarily on all three agencies (Experian, TransUnion and Equifax). … Amazon Chase, is obviously through Chase bank. Amazon Store Card is through GE Money.