What Score Do You Need For Amazon Credit Card

Amazon Prime Rewards Visa Signature Card Vs Chase Freedom Flex

• On Chase’s Secure Website

The Chase Freedom Flex is a competing cashback card that may be better suited for those who don’t shop exclusively at Amazon. Its sign-up bonus offers the chance to Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases on up to $12,000 spent in the first year.

You’ll Earn 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases. Here is 2021’s cashback calendar:

Note that the 5% bonus is only eligible for up to $1,500 in purchases per quarter. If you’re fine with earning 5% back on Amazon.com during just a few months, the Chase Freedom Flex may be a better option than the Amazon Prime Rewards Visa Signature Card. If you prefer a more predictable reward structure where the categories never change, the Amazon Prime Rewards Visa Signature Card is the better choice.

Other Factors That Affect Your Credit Card Application

• Issuers like to see that you have a history of good credit. This includes making debt repayments on time and in full, avoiding carrying a balance for too long and using varying forms of credit responsibly.

• Utilization. This is the balance that youre currently using on one single credit card compared to that cards credit limit. A general rule of thumb is to keep your credit card debt to 30% or less of your spending limit.

• Employment status. While credit card issuers typically prefer people to have full-time employment, you could still be eligible for some cards if you work part-time, are self-employed or if you have a pension or other source of steady income.

• Income vs expenses. When you apply for a credit card, you will have to provide information about your current income, spending habits and any existing debts to help issuers determine whether you can manage more credit.

Amazon Rewards Visa Card Credit Score

You have a solid chance of a successful application for the Amazon Rewards Visa Signature Card if your credit score is in the fair-to-good range, and the suggested FICO® Score to apply is 670 or above. It’s possible to get approved with a lower score, but it makes more sense to work on your credit first and give yourself a better shot. Note that because Chase is the card issuer on the Amazon Rewards Visa Signature Card, Chase’s 5/24 rule could lead to a declined application for consumers who have opened too many credit cards in the past two years.

Read Also: How To Redeem Amazon Gift Cards On Kindle Fire

The Difference Between Store Cards And Credit Cards

Before jumping into the details of the different Amazon credit cards, its important to understand two categories these cards can fall into: closed loop or open loop.

The Amazon Store Card and Amazon Prime Store Card are considered closed-loop cards, which is what most store cards are. A card on a closed loop works only at specific locations, so you wouldnt be able to use it outside of the store its associated with. These two cards only work on Amazon.

The Amazon Rewards Visa Signature Card and Amazon Prime Rewards Visa Signature Card are considered open-loop cards because they work anywhere Visa cards are accepted. So youre able to use them to make purchases on Amazon, but you can also use them for any other purchases you may have from any retailer .

How To Improve Your Credit Score

• Use credit often. It might seem counterintuitive, but the more you use your card the faster you can build up your score, so long as you keep up with payments.
• Make payments on time. Your payment history accounts for roughly 35% of your credit score so its important to be consistent.
• Pay your balance off each month. Pay off your balance in full every month to improve your score and save money on interest.
• Mix up your credit types. Make on-time payments on a variety of debts, including credit cards, mortgages, loans and leases.
• Avoid applying for too much credit. Make sure you only apply for credit you absolutely need, since every credit check on your account will drag down your score.
• Keep a low balance on multiple cards. Avoid consolidating your debts onto one card because it can max out your limit and damage your score.
• Dont cancel old credit cards. Instead of cancelling a card you no longer want, you should freeze your account but keep it open. This maintains your total credit amount and the length of your credit history.
• Correct errors in your credit report. Contact the credit bureau if you notice an error on your report and ask it to fix it.

Don’t Miss: Can You Use Food Stamps On Amazon

Best For Amazon Financing: It Depends

While both the Amazon store cards from Synchrony Bank and the Amazon Visa cards from Chase come with promotional offers for cardholders, the terms are slightly different.

If youre looking to pay off an Amazon purchase over time and are debating which route to go, you may need to choose between a longer financing period and a lower minimum purchase requirement .

Both cards let you choose between Equal Pay financing which charges no interest if you make your equal monthly installment payments on time and Special Financing which uses a deferred interest model.

While the difference is not dramatic, Synchronys Amazon store cards offer longer financing periods on Equal Pay purchases. With the store cards, you can get six, 12 or 24 months to pay off your minimum purchase of $150, $600 and $800, respectively. The Chase Amazon Visa cards, on the other hand, offer six-, 12- and 18-month financing plans on minimum purchases of $150, $250 and $500, respectively.

Keep in mind, the 25.99% variable APR on Synchronys Amazon store cards is fairly high compared to the average credit card interest rate and could come back to bite you if you opt for Special Financing.

See related: Can you transfer a store card balance to a credit card?

Amazonca Rewards Mastercard Benefits

Whats interesting is that this credit card gives you different benefits depending on if youre an Amazon Prime member or not. If youre a member, youll get the following with the Amazon rewards credit card:

• No annual fee
• $10 Amazon gift card at sign up
• 5% back at Amazon.ca, grocery stores and restaurants for six months after your account is opened
• 2.5% back at Amazon.ca, Whole Foods Market in Canada and foreign currency transactions
• 1% back per dollar spent on all other purchases
• Purchase assurance
• Common carrier insurance

For non-Amazon Prime members, your earn rate is much lower:

• 1.5% back per dollar spent at Amazon.ca, Whole Foods Market, physical amazon stores

As you can see, the card is clearly aimed at people who do a lot of their shopping on Amazon and have an Amazon Prime membership. Its honestly tough to beat 2.5% back on Amazon purchases since they dont typically fall into a merchant category that gives you a higher percentage of cash back. I should note that youre not earning cash-back, you earn Amazon Rewards but since it takes 2,000 Amazon Rewards to claim a $20 Amazon.ca gift card, the program is similar to cash back.

Speaking of 5%, you will earn 5% back at Amazon.ca, grocery stores and restaurants for the first six months, up to $3,000 in eligible purchases. This is a great way to get some extra rewards if you have some large purchases coming up. Remember, this credit card has no annual fee so it can really benefit you to sign up.

Also Check: How Long Does Amazon Take To Ship With Free Shipping

Looking For The Amazon Rewards Credit Card

There’s also an Amazon Rewards Visa cash back card that isissued by Chase, though you need to sign up on Amazon’s site.

This card requires credit scores in the “good” range .But with it, you do get the opportunity to earn 3% cash back rewards that you can apply to your Amazon.com purchases as the rewards are earned.

How Did We Choose These Credit Cards And Credit Options

When choosing which Amazon credit options to include in this account, we made sure to find products that would suit a variety of types of businesses in a variety of sizes. While no product on our list will be well-suited to all businesses, most businesses should be able to find a product that works for them.

Factors we considered when choosing these products include:

• How easy it is to apply
• Interest and fees
• Payment terms

Recommended Reading: How To Send To Amazon Locker

Have A Low Credit Score Compare Credit Cards For Bad Credit

If you have no credit or bad credit and cant meet the minimum credit score for credit card approval of typical cards, you still have options. There are things you can do to help build up your credit rating and some forms of credit that youll still be eligible for in the meantime.

Quick Note: Amazon Store Card Vs Amazon Prime Store Card

It can get confusing talking about Amazon store cards as a whole because theyre actually two different cards. Where it gets more confusing, though, is that you can only apply for the Amazon.com Store Card.

To get the Amazon Prime Store Card, you have to already have the standard Amazon Store Card and an eligible Amazon Prime membership. This will qualify you for an automatic update to the Amazon Prime Store Card.

If youre approved for the Amazon Store Card and dont have a Prime membership, youll end up with the non-Prime Amazon.com Store Card, which doesnt offer any earning potential.

The two Amazon Rewards Visa cards work similarly. Whether you receive the Amazon Rewards Visa Card or Amazon Prime Rewards Visa Card depends on whether you have an eligible Amazon Prime membership.

You May Like: How Do I Get My W2 From Amazon

Best Amazon Card For Sign

The winner in this category depends on what kind of Amazon user you are. If youre an Amazon Prime member, the clear winner is the Amazon Prime Rewards Visa Signature Card. Youll earn a $100 Amazon.com gift card, which can go a very long way.

Yes, you can get a good bonus with the Amazon Prime Rewards Visa Signature Card, but it doesnt make sense to pay a $119 annual fee for Amazon Prime membership just to earn a $100 Amazon.com gift card if youre not already using the service.

Youre Our First Priorityevery Time

We believe everyone should be able to make financial decisions with confidence. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free.

So how do we make money? Our partners compensate us. This may influence which products we review and write about , but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.Here is a list of our partners.

Don’t Miss: Amazon Prime Locker Locations

A Deposit Is Required

The cardholder must make an upfront deposit equal to the credit limit. You should, therefore, use this card to become eligible for better Amazon cards. Although similar, its benefits are scaled-down as compared to the unsecured store card.

These strict limits can work in your favor if you have a bad credit rating because you could develop more responsible borrowing habits. Also, timely payments can help you to make a positive impression on lenders.

You can prove your creditworthiness by using this card wisely, and lenders may increase your credit limit .

How To Use The Amazon Prime Rewards Visa Signature Card

To make the most of the Amazon Prime Rewards Visa Signature Card, youll want to add it as the default form of payment to your Amazon.com account right away. Youll have the $150 gift card earned upon opening your account in there already, and you can begin earning 5% back on all your Amazon.com purchases without any limits. It can also occasionally earn you up to 20% back on rotating categories and products.

Really maximizing that 5% category may require changing your shopping habits to ensure you purchase more of your regular budget items with the online marketplace or at your local Whole Foods. Consider setting up automatic shipments of toilet paper or diapers, for example, or trying out Amazons grocery delivery service.

In the meantime, you can also boost rewards by using the card for your purchases in 2% cash back categories: restaurants, gas stations, and drugstores. If you have another card that earns a higher rewards rate in these common everyday categories though, you may find more value in reserving this card solely for Amazon.com and Whole Foods purchases.

Finally, always make sure you pay your credit card bill in full and on time, or else youll pay the high variable rate on your purchases and wipe out any rewards youve earned.

Read Also: What Does Britbox Cost

What Do Amazon Credit Cards Offer

Amazon currently offers two credit cards issued by New Day Ltd: the Platinum Mastercard, which is a reward credit card, and the Classic Mastercard, which is a .

The allows you to collect 1.5 Amazon Reward Points for every £2 spent at Amazon, and 0.5 Amazon Reward Points for every £2 spent elsewhere. For every 1,000 points you earn, you’ll get a £10 Amazon gift card. The representative APR is 21.9% , credit is subject to status and terms apply.

The Amazon Classic Mastercard is designed to help build your credit rating and comes with a representative APR of 29.9% . If you make at least one transaction a month, make repayments on time and stay within your credit limit for 12 months, you’ll be upgraded to the Amazon Platinum Mastercard. Credit is subject to status and terms apply.

• You can compare Amazon credit cards, along with other great reward deals, on Which? Money Compare.

Amazon Prime Rewards Visa Signature Card Review: Should You Get It

Advertiser Disclosure

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

Jump to

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.

Whether you’re shopping for routine household products or new patio furniture, Amazon has you covered. Paired with the acquisition of Whole Foods, it’s no wonder that many consumers do the bulk of their shopping at Amazon. As an Amazon Prime member, you’ll enjoy benefits such as free two-day shipping, free Whole Foods delivery in eligible areas and more.

Also Check: What Discount Do Amazon Prime Members Get At Whole Foods

Amazon Prime Rewards Visa Signature Card Vs Citi Double Cash Card 18 Month Bt Offer

• On Citibank’s Secure Website

The Citi® Double Cash Card 18 month BT offer is one of the few credit cards that lets you Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. This applies regardless of where you shop meaning you’ll earn 2% back whether you’re shopping on Amazon.com or purchasing movie tickets.

While the Citi® Double Cash Card 18 month BT offer doesnt give you the same 5% reward on Amazon purchases that you can get with the Amazon Prime Rewards Visa Signature Card, the unlimited 2% rate takes the guesswork out of earning rewards. Unfortunately, though, the Citi® Double Cash Card 18 month BT offer comes with no welcome offer whatsoever.

If Amazon.com makes up a large chunk of your total purchases, the Amazon Prime Rewards Visa Signature Card is the better deal. However, if your spending is more varied, go with the Citi® Double Cash Card 18 month BT offer instead.

Amazon Pay Credit Card Fee And Charges

Sorry! You have exceeded your daily OTP limit. Please retry after 24 hours.

• MyLoanCare does not charge any fees for processing your application. Never pay any cash to anyone for your application.
• Never share your OTP with anyone.

Please Re-confirm Your Number

Also Check: Can You Buy Food On Amazon With Ebt

Amazon Prime Store Card Vs Amazon Prime Visa Card: At A Glance

Synchrony and Chase each offer two versions of their Amazon cards one for Prime members and one for nonmembers and youre automatically assigned one or the other when you apply.

Whether you opt for an Amazon store card from Synchrony or an Amazon Visa from Chase, being a Prime member is key if you want to maximize your .

While youll earn 5% back on Amazon purchases with either the Amazon Prime Store Card or the Amazon Prime Visa card, the two cards vary considerably in other areas, including their sign-up bonuses, approval odds and cardholder benefits.