Getting authorized for a credit card takes some forethought. The majority of credit card offers necessitate excellent credit. As a result, knowing your credit ratings and what’s on your credit reports is critical when applying for new credit.
For everyone with an Amazon Prime membership and at least good credit, the Amazon Store Card is a no-brainer. Prime membership entitles you to 5% “cash back” on all Amazon.com purchases, transforming an otherwise mundane offer into one of the greatest store credit cards available.
Issuers of credit cards prefer to see a good credit history, consistent income, and low credit utilization. It’s a hint that you may not be able to repay your existing revolving credit if you’re using too much of it.
You should also check to see whether you’ve applied for too much credit recently. Having too many credit queries can make it more challenging to be accepted.
There are 5 Amazon Credit Cards the first one is Amazon Store Card by Synchrony, and then you have Amazon Prime Card, Amazon Prime Rewards Visa Signature Card by Chase Bank. Then there are two other amazon credit cards by American Express for business. The difference between prime and non-prime credit cards is if you have a prime card, you will get 5% percent back, and to get the amazon prime card, you need to have an account of amazon prime.
Let’s check a few of them.
Amazon Store Card
People who shop online frequently will benefit from the Amazon Prime Store Card. Synchrony Bank issued the card, which pays 5% cashback on all purchases. The card may only be used on Amazon purchases, although it does offer promotional no-interest financing for large purchases.
The Amazon.com Store Card requires a credit score of at least 640, which indicates you must have at least fair credit to qualify. The higher your credit score, the more likely you will be approved.
How does it Work?
To acquire this card, you must have a current Amazon Prime membership. It can only be applied to Amazon purchases. When you use your Prime account to make purchases, you can earn rewards and take advantage of promotional, interest-free financing on expensive items. Consider this card if you already have a Prime membership and conduct the majority of your shopping on Amazon.
Benefits and Rewards
After you’ve been accepted, you’ll get 5% back on all Amazon purchases. You can use your reward to pay off your bill or put it toward new purchases. After your application is approved, you’ll also receive a $60 Amazon gift card. For orders over $149, the Amazon Prime Store Card offers financing alternatives. You won’t have to pay interest for six months (on purchases of $149 or more), 12 months ($599 or more), or 24 months (on purchases of $199 or more) (select Amazon products).
Cost and Fee
There is no yearly charge on the Amazon.com Store Card, and it can only be used on Amazon.com. But you must have an active Prime account ($119 per year) to be eligible. While buying directly from Amazon with a credit card is generally safe, buying from third-party retailers on Amazon is a little different because you’re dealing with individual sellers rather than Amazon.
Amazon Prime Rewards Visa Signature Card
Chase Bank is the issuer of the Amazon Prime Rewards Visa Signature Card. It can be applied to any purchase and is only accessible to Amazon Prime subscribers. Customers that are authorized receive a $70 gift card and a Visa card that can be used anywhere. Cardholders can earn various incentives when they shop for a variety of daily things, including 5% back on Whole Foods purchases. Only Amazon.com can be used to redeem rewards.
How does it Work?
The Amazon Prime Rewards Visa Signature Card gives you points that you may use on Amazon.com when you make everyday purchases. It helps Amazon Prime members who do a lot of online shopping, including protections for regular travelers and drivers. The card also comes with some of the same benefits as standard Visa Signature cards, such as access to the company’s concierge service. It has a relatively high APR, like other rewards cards.
Benefits and Rewards
Once approved for an Amazon Prime Rewards Visa Signature Card, you receive a $70 Amazon gift card. The benefits can only be used on products from Amazon.com. Benefits include 5% back at Whole Foods, 2% back at restaurants, drugstores, and gas stations, and 1% back on everything else. The card also comes with travel benefits (no foreign transaction fees), protections from the unexpected, and some premium perks from Visa.
Cost and Fee
To be eligible for the card and take advantage of its benefits, you must have an Amazon Prime account. Although the card has no annual fee, an Amazon Prime membership costs $119 per year. There are fees for balance transfers ($5 or 5%, whichever is higher) and cash advances ($10 or 5%, whichever is larger).
Where can you use the Amazon Prime Rewards Signature Visa Card?
The Amazon Prime Rewards Signature Visa Card can be used in various places.
You may use your Amazon credit card anywhere that accepts Visa, most certainly anywhere in the United States and more than 150 countries worldwide. In many aspects, a visa card linked to Amazon.com is a typical credit card, unlike shop cards related to a specific business.
You’ll get points if you shop on Amazon.com or Whole Foods with it, but you’ll also get points if you use it at partner gas stations, pharmacies, and other businesses.
Who Should Think About Getting an Amazon Prime Rewards Signature Visa Card?
Given the rebates and incentives, this card may make sense if you frequently shop at Whole Foods Markets and on Amazon.com as a Prime member. A co-branded card like this offers not only incentives but also a line of credit, as well as the convenience of being able to use it anywhere that accepts Visa.
If you don’t want to have a credit card but love Amazon’s brand and buy there frequently, you might want to consider an Amazon.com or Amazon Prime Store card.
Amazon Prime Rewards Signature Visa Card Alternatives
Amazon offers two store-only cards, comparable to credit cards, with the Amazon Prime store card providing additional benefits to Prime members. The Amazon.com Store Card and the Amazon Prime Store Card are issued by Synchrony Bank and are beneficial if you purchase on Amazon.com frequently.
Do you want to Improve your Credit Score?
Removing bad things from your credit record is one of the most effective strategies to enhance your credit ratings. The following items can be disputed (and possibly removed) with the help of Lexington Law:
- Bankruptcies are examples of late payments.
They have over 18 years of experience and have deleted more than 7 million harmful elements for their clients in just 2020. Give them a call at (800) 220-0084 for a free credit consultation if you’re battling with bad credit and want to improve your chances of getting approved for new credit.
Despite the fact that the card is still only offered to Prime members, the rewards structure from either Amazon Visa card could be advantageous even for people who only purchase at Amazon occasionally.
Although the APR is still larger than other non-retail cards, the parameters of this card are appealing in the retail sector.
People who don’t have a balance get the most from rewards because if you don’t pay it off, you’ll end up paying more in interest than the advantages are worth.
Second, it’s probably not a good idea to make purchases just for the sake of earning incentives. Saving and investing your money will still win out over-consuming.
Frequently Asked Questions(FAQs)
Is it possible to receive an Amazon card if you have bad credit?
Yes, you can apply for the Amazon.com Secured Credit Card even if you have bad credit. This card, which has a $0 annual charge and welcomes applicants with weak credit, is designed to help build credit. It also sends payment history to major credit bureaus.
Is there a fee for using an Amazon store card?
Like most store credit cards, the Amazon shop card has no annual fee. However, it can only be used on Amazon.com and cannot be used elsewhere. Still, with no cost and no cashback, it’s a no-brainer.
How can I get my Amazon store card to work?
Alternatively, you can contact 800-432-3117 and follow the directions to activate your card. Call 866-634-8379 to activate your Amazon Credit Card if you have the store version (issued by Synchrony Bank).
What is the number on my Amazon store card?
Click Edit My Account Settings after logging into your Amazon Payments account. To access your current credit card information, click Add, modify, or delete my credit cards.
How can I make a payment on my Amazon account?
To top up your Amazon Pay balance, go to ‘Your account’ and select ‘Top-up Amazon Pay balance.’ Choose an amount and click ‘Continue’ to add money using your credit card, debit card, or Net banking.
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