What’s the Catch With the Amazon Credit Card? (2024)

FAQs

Does the Amazon card hurt your credit? ›

Applying for the card will drop your score a bit, regardless of whether you're approved or denied. This is easy to bounce back from after a few months of responsible use. The Amazon Store Card's issuer will report your payment status to the credit bureaus on a monthly basis.

Erinn Dimond, WalletHub Writer

All of the Amazon credit cards are free in the sense that none of them charge annual fees, and you can avoid interest charges by paying your bill in full monthly.

Yes, the Amazon Credit Card is safe. This card is issued by Chase on the Visa network and has standard security features such as $0 fraud liability protection and a 3-digit security code printed on the back. Keep in mind that if your card is ever lost or stolen, you will need to call customer service at (888) 247-4080.

Yes, the Amazon Store Card builds credit, since Synchrony Bank reports your account information to all three major credit bureaus each month. Making on-time payments and keeping your balance low will improve your score. On the other hand, missing payments and maxing out your limit can hurt your credit.

To get approved for this card, you'll need to have a good credit score of at least 670, though having a higher one certainly won't hurt your chances. Subscribe to the CNBC Select Newsletter!

The Prime Visa card doesn't charge an annual fee, but you'll have to pay for an eligible Amazon Prime membership. Not including taxes, membership fees are either $14.99 per month or $139 per year. The Prime Visa card doesn't charge an annual fee, but you'll have to pay for an eligible Amazon Prime membership.

No interest will be charged on the promotional purchase balance (which includes the purchase amount, taxes, shipping charges and any optional debt cancellation charges related to the relevant purchase) and equal monthly payments are required in the amount of the total initial promotional purchase (including the ...

5% back or 3% back at Amazon.com, Whole Foods Markets and the participating Amazon stores and sites: You'll earn 5% back with an eligible Prime membership or 3% back without an eligible Prime membership for each $1 of eligible purchases made using your card account at Amazon.com (including digital downloads, Amazon.com ...

Amazon Visa credit cards are issued by JPMorgan Chase Bank, N.A. Member FDIC. Accounts subject to credit approval. Restrictions and limitations apply.

How much is the Amazon card security fee? ›

The fee for the Amazon Store Card security program is $1.66 per $100 of your monthly ending balance. Each month, the cost is billed to your account, so there is no extra bill or check to write.

You'll likely need at least a good credit score (670 to 739) to qualify for the co-branded Amazon Prime Visa. This means you may need to work on improving your credit score if you're below that range and still prefer the Prime Visa's offerings.

The good news is that even though applying for an Amazon card will hurt your credit, the damage will be minor and won't last long. Your score should bounce back after a few months of responsible credit use. You should strive to always pay on time, and in full if possible.

AT A GLANCE. Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases with an eligible Prime membership, unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare), and unlimited 1% back on all other purchases.

If you want to cancel your Amazon Store Card, you will have to call (866) 634-8379 instead; the store card is issued by a different bank. There is no fee associated with closing your account, but you will have to pay off any outstanding balances.

Absolutely, the Amazon Pay ICICI credit card can help you improve your CIBIL score. This is due to one simple fact: the Amazon Pay ICICI payment card generates reward points, which can be earned and then redeemed for cash.

After the Amazon Credit Card reports your account information to a credit bureau each month, it may take a few days before the updates appear on your credit report.

Yes, the Amazon Store Card does a hard inquiry on your credit report when you apply.

Failure by you or anyone who pays your premium on your behalf to keep up your monthly payments will be reflected in your credit score.