Do I Have To Pay For Amazon Store Card
The Amazon.com Store Card has no annual fee, and can only be used at Amazon.com. If you want to earn rewards at Amazon with a card you can use anywhere Visa credit cards are accepted, check out some different cards in our 2021 Review: Amazon Prime Rewards Visa Signature Card Best for Amazon Prime Members.
Is It Worth Signing Up For Amazon Prime
Amazon Prime costs $119 per year, comparable to the cost of many credit cards with annual fees. Since the Amazon Prime Rewards Visa Signature Card is only open to existing Prime members, you may wonder if its worth opening a membership if you dont own one already. Here is the list of the ongoing benefits youll enjoy with Amazon Prime:
- Free two-day shipping on millions of eligible products, with free same-day or 2-hour delivery in select cities
- Extra 10% discount on sale items at Whole Foods
- Prime Video, offering access to thousands of movies and TV shows for free
- Prime Music, offering over two million songs ad-free with the opportunity to upgrade to Amazon Music Unlimited at a Prime member rate
- Amazon Photos, with free unlimited photo storage shareable to up to five family members or friends
- 30-minute early access to Amazon Lightning Deals
- Borrow one e-book for free on any Kindle device
If you live in a metropolitan area, Whole Foods offers free two-hour delivery or one-hour same-day pickup, which can be helpful to grocery shoppers who need items in a pinch. While the shipping benefit alone is why millions of people subscribe to Amazon Prime, there are many entertainment and shopping perks with this subscription.
Amazon Prime also offers a free six-month trial exclusively for college students. After that, youll enjoy a 50% discount on membership while youre still a student.
You May Like: Paypal Credit Soft Or Hard Pull
Is The Card For You
This card makes absolute sense for you if you are an Amazon Prime Member and/or Whole Foods enthusiast. While other cards such as the Discover it or Chase Freedom may offer cash back category bonuses on groceries or quarterly bonuses on Amazon purchases, its hard to find a card that offers a higher return rate on both.
Chances are that if you shop Amazon frequently, you already pay the $119 Amazon Prime membership fee so the card effectively has no annual fee. That said, dont hold a balance on this card as it charges a higher interest rate than many other cards available. If you do need to carry a balance on your card, consider a card thats best for 0% APReither on purchases or on balance transfers. As long as you pay your bill in full every month, you will come out ahead with the Amazon Prime Rewards card.
To view rates and fees of the Blue Cash Preferred® Card from American Express, please visitthis page.
To view rates and fees of the American Express® Gold Card, please visitthis page.
Read Also: Paypal Credit Hard Pull
You May Like: Remove Inquiries Off Credit Report
The Amazon Rewards Visa Card
The Amazon Rewards Visa Card was launched in 2017. It is also offered in two iterations, for Prime and non-Prime members. New cardholders can get an Amazon gift card upon approval. Both cards have an that ranges between 14.24% to 22.24% depending on the cardholder’s credit score.
The card is available to any registered Amazon customer. There is no annual fee and the card doesn’t charge foreign transaction fees. This card is offered by Chase Bank. The Rewards Visa Card rewards cardholders through cash back on multiple levels.
Amazon Rewards Visa cardholders can earn 3% cash back on purchases made through and at Whole Foods. These cardholders earn 2% cash back on purchases at restaurants, gas stations, and participating drug stores. Rewards Visa cardholders can also earn 1% cash back on any other purchases.
Cardholders with an Amazon Prime membership get approved for the . These cardholders earn an additional 5% on Amazon and Whole Foods purchases.
Using the cash back can help offset the cost of the yearly Prime membership fee of $119. Prime members who spend about $200 a month or more at Amazon will essentially recover the annual fee.
Who Should Apply For The Amazon Store Credit Builder Card
This card is suitable if you:
- Have a poor credit score or no credit history
- Prefer to purchase from Amazon
- Want access to regular Amazon cards
- Intend to borrow responsibly to build a good score and payment history
This card is not meant for you if you do not meet the criteria. You definitely need to be serious about building good credit habits and paying back on time.
This card has a high-interest rate so youll also have to make a deposit equal to the credit limit since this is a secured card.
This card is a stepping stone towards better Amazon rewards cards.
Read Also: Cbcinnovis Credit Report Inquiry
You May Like: How To Check Credit Score On Usaa
Drawbacks Of Amazon Prime Rewards Visa Signature Card
Like any co-branded card, the Amazon Prime Rewards Visa Signature has rewards most beneficial for frequent Amazon shoppers. And while the additional everyday rewards categories restaurants, gas stations, and drugstores can help add value, there are other cards with better rewards rates in these categories. If you dont have a Prime membership, buy from the online retailer often, or do most of your grocery shopping at Whole Foods, youll probably get a better value elsewhere.
Another drawback of this card is its relative lack of added benefits. The travel and purchase protections offered through Visa Signature are robust, but you wont get any annual credits, additional perks, or intro APR offer which some competitors may provide.
Amazon Prime Rewards Visa Signature Card Review: Should You Get It
For Amazon Prime members, there’s a lot to love about the Amazon Prime Rewards Visa Signature Card, which comes with a 5% rewards rate that’s hard to beat.
Advertiser Disclosure: ValuePenguin is an advertising-supported comparison service which receives compensation from some of the financial providers whose offers appear on our site. This compensation from our advertising partners may impact how and where products appear on our site . To provide more complete comparisons, the site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products.
Editorial Note: The content of this article is based on the authors opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
Citi is an advertising partner
- Unlimited 5% back on all Amazon.com purchases
- $0 annual fee
You May Like: Does Chase Report Authorized Users To Credit Bureau
How Would Getting An Amazon Prime Store Card Affect My Credit
Answer : Getting the card will make your credit score drop slightly for a very short period of time, but assuming that youre not getting a mortgage or a car loan in the next few months, its really nothing to worry about. In the long run, though, the card could help your credit. It can
Amazon Prime Rewards Visa Signature Card Overview
The Amazon Prime Rewards Visa Signature Card is one of the best online shopping credit cards due to its high reward rates on Amazon purchases with no spending caps and Visa Signature benefits.
The biggest drawbacks are the required Amazon Prime membership and a few missing purchase protectionsbut these are minor nitpicks compared to what many other store cards offer.
Don’t Miss: Repo On Credit Report
Bonus Tip: Save With A Half
The Amazon Prime for Students program is a really great deal for students currently in college. Youre entitled to most of the same benefits as regular Prime members including free two-day shipping at a 50% discount. And, you get a six-month free trial period. All you need is a valid .edu address to qualify. Benefits include:
- Prime video
- Exclusive deals for Prime members
Not Sure This Is The Card For You Consider These Alternatives
The Amazon Prime Rewards Visa Signature Card isnt a perfect fit for everyone. If youre looking for a new card but havent fallen in love yet, take a look at these other options.
- Amazon Rewards Visa Signature Card: This card could be a good alternative for nonAmazon Prime members who frequently shop on Amazon and at Whole Foods. for a closer look.
- Blue Cash Preferred® Card from American Express: People who spend a lot on groceries and like to shop at a variety of supermarkets should consider this card. Read our review of the Blue Cash Preferred® Card from American Express to learn more.
- Uber Visa Card: If you frequently dine out, travel and shop online at a variety of stores, this cards rewards structure might align with your spending. Check out our review of the Uber Visa Card for more details.
About the author:
Read Also: Amazon Rewards Visa Credit Score
If You Count Yourself As A Loyal Amazon Customer You Might Be Able To Earn A Nice Chunk Of Your Spending Back Or Even Finance Your Purchases With One Of The Amazon Credit Cards
There are four to choose from, so how do you pick which one is right for you? Here are a few questions to ask.
- What type of Amazon shopper are you ?
- Do you want the option to finance a large Amazon purchase or not? Well guide you through your four choices in this Amazon credit card review so that you can make the best decision for yourself.
- Are you a frequent Whole Foods shopper? As of October 2020, eligible Prime members will earn 5% back on Whole Foods Market purchases when using the Amazon Prime Rewards Visa Signature Card. Cardholders who arent eligible Prime members will now earn 3% back on Whole Foods Market purchases when using the Amazon Rewards Visa Signature Card.
Best Credit Cards For Amazon Prime Day 2021
At Experian, one of our priorities is consumer credit and finance education. This post may contain links and references to one or more of our partners, but we provide an objective view to help you make the best decisions. For more information, see our .
Whether you aim to get your holiday shopping started or make a large purchase for yourself, having the right credit card ready for Prime Day could help you maximize your savings. Using a credit card to get cash back, earn valuable and even save on interest with promotional 0% intro APR financing can take some of the bite out of those buys.Though Amazon’s 2020 Prime Day was pushed back to October due to the COVID-19 pandemic, Prime Day 2021 will once again take place in the summertime, on June 21 and 22. As Prime Day approaches, consider whether you’re using the right credit card to maximize reward earnings when shopping with Amazon.
2 Partner Offers
Recommended Reading: Les Schwab Credit Score Requirement
The Amazon Prime Rewards Visa Signature Card Vs The Capital One Walmart Rewards Card
Ultimately, whether the Amazon Prime Rewards card or the Capital One® Walmart Rewards® Card is the better choice depends on which retailer you shop with online more. They have comparable reward programs, except the Amazon card offers 2 percent rewards at drugstores while the Walmart card offers 2 percent cash back on travel. While the Walmart cards travel category would likely have more rewards potential, its gas category only covers Walmart and Murphy USA gas stations while the Amazon cards gas category is much more flexible.
You may be able to get more first-year value from the Walmart card since its 12-month 5 percent cash back rate on in-store purchases when using Walmart Pay only takes spending over $2,000 that year to eclipse the Amazon cards $100 bonus gift card. However, factors like richer benefits, a lower ongoing APR and a more popular online shopping platform could make the Amazon Prime Rewards card a slightly better option overall.
No Annual Fee With A Catch
There are no annual fees for the Amazon Business Prime Card. However, to qualify to receive the card, youll need an eligible Amazon Prime membership. Specifically, youll need a personal Prime account or a Business Prime membership .
Because a Prime membership gets you 5% cash back on purchases under the Amazon banner, if you have a personal Prime account, youll need to spend around $2,380 on Amazon purchases annually to recoup the cost of Prime with your card alone. Of course, Prime comes with an array of benefits, including two-day free shipping, access to Prime Video and Music, exclusive deals, and more. Its also worth mentioning that the $125 welcome Amazon.com gift card covers one year of a personal Prime membership. This means that Amazons premium membership may be well worth it even if you wont be breaking that $2,380 mark on Amazon purchases.
Heads Up: What To Consider When Applying For An Amazon Credit Card
Although all four cards are credit cards, its important to know that two of these cards dont function like traditional credit cards specifically, the Amazon.com Store Card and the Amazon Prime Store Card.
Most credit cards including the Visa Signature cards will let you charge a purchase anywhere that particular card is accepted. But the Amazon.com Store Card and Amazon Prime Store Card can only be used to make purchases at Amazon and nowhere else.
With these two cards, you can select from three levels of interest-free financing: six months for purchases of $150 or more, 12 months for purchases of $600 or more, and 24 months for certain purchases of $800 or more.
John Ganotis, credit card expert and founder of Credit Card Insider, gives a warning to unwary consumers who take advantage of the special financing offers. He says to watch out for deferred interest financing offers. Theyre not the same as 0% introductory APRs on most credit cards.
While youre paying off these financed charges, the bank will be adding up all the interest charges. If you pay off your balance in full before the financing period ends, you dont have to pay any interest.
But if you dont pay off the full balance in time, youll be charged retroactively for all of that accrued interest. So make sure youre able to pay off the balance in time before signing up for the interest-free financing.
Does Amazon Do A Hard Credit Check
they will usually do a hard check for credit, criminal records, and other similar perusals to ensure that the employee their hiring is a reliable and safe hire.
However, Amazon does not generally do in-depth credit checks for their customers or sellers unless they require more information about their identity, or if they are dealing with a fraudulent case.
Therefore, customers who are applying for an Amazon Prime Visa are recommended to keep their personal information on Amazon up to date in order to prevent an unnecessary delay in their application process.
Additionally, potential staff members of Amazon should be aware of the types of credit and background checks Amazon conducts in order to be prepared for any uncovered information.
What About The Starting Credit Line
Being approved for the Amazon Visa is one thing, but getting a credit line big enough to actually make it useful is another. In general, the lower your credit score, the lower your starting credit line is going to be. Someone with a lower score could start out with a credit line of only $500 while a well-established cardholder with a high credit score and lengthy history of handling credit well could easily get a $5000 credit line or even more.
Amazon Prime Rewards Visa Pros And Cons
The key to good credit history is being selective about your credit cards and how you use them. Available credit, low card balances, on-time payments and card longevity are some of the factors that affect your credit score most. Canceling a card because it isnt right for you could negatively impact the average age of your credit card accounts and your overall available credit. Make sure that the Amazon Prime Rewards card will suit your needs for years to come before you apply.
Consider the following pros and cons:
Recommended Reading: Is 565 A Good Credit Score
Financing Options With The Amazon Store Credit Builder Card
The following finance options are available:
Special Financing Option
No interest is charged if you pay in full within the stipulated time frame. Depending on your purchase amount, this timeframe can be six, twelve, or 24 months.
Remember that this is deferred interest and not a 0% APR offer. If you fail to pay within the designated time frame, youll be charged the full interest accrued.
This financing option applies only to qualifying items. With this finance option, youll not be eligible for the 5% rewards rate.
Equal Pay Option
This option extends equal monthly installments, which must be paid back within a fixed timeframe. Depending upon your purchases, the time frame can be six, twelve, or 24 months. If you pay within the fixed timeframe, no interest will be charged.
This financing option applies only to qualifying items. Youll not be eligible for the 5% rewards rate with this finance option.