Amazon Credit Cards
About 40% of people who shop online shop from Amazon at least once in a month. If you happen to be part of this 40%, you must have seen promotions on the website called Amazon credit cards.
Amazon offers (4) types of credit cards that provide a lot of benefits to frequent shoppers. Let’s take a look at the 4 types of Amazon credit cards;
Amazon Prime Rewards Visa Signature Card
Amazon prime credit card requires users to have an eligible Amazon prime membership ($119 annually or $12.99 a month). The card offers the highest reward return.
Rewards
5% cash back at Amazon.com and whole foods market
2% back at restaurants, gas stations and drug stores
1% back on all other purchases
As a welcome bonus, cardholders can get a $100 Amazon gift card that offsets the $119 annual membership your first year.
Annual fee: 0$
Intro APR: None
Regular APR: 14.24% to 22.4% Variable
Balance transfer fee: 5% or $5 minimum
Foreign transaction fee: None
Credit needed: Excellent/Good
Pros
- You will receive $150 Amazon.com gift card upon approval with no spending requirements
- No annual fee
- No fee charge on purchases made outside the U.S
- 5% back at Amazon.com and whole food market.
Cons
- Prime membership is required
- You only get to enjoy the 5% back on groceries when you purchase them from Amazon.com or at whole foods market.
Amazon Rewards Visa Signature Card
This card should be your next option if Amazon prime isn’t going to work for you. It doesn’t require a prime membership as access to the card. You also get to enjoy 3% back at Amazon and whole foods market.
Rewards
2% back at restaurants, gas stations and drug stores
1% back on all other purchases
Welcome bonus: $50 Amazon.com gift card upon application approval
Annual fee: $0
Intro APR: None
Regular APR: 14.24% to 22.4% Variable
Balance transfer fee: 5% or $5 minimum
Foreign transaction fee: None
Credit needed: Excellent/Good
Pros:
- Does not require prime membership
- No annual fee
- $50 Amazon gift card upon approval with no spending requirement
- 3% back at Amazon and whole foods market
- No fee charged on purchases made outside the U.S
Cons:
- The 3% back on groceries only applies to groceries bought on Amazon or at whole foods market
Amazon Store Card
The Amazon store credit card does not also require prime membership. This card gives you access to interest free financing for 6, 12 or 24 months.
For special financing, Pay no interest on Amazon.com;
- On purchases of $150 or more if the entire purchase amount is paid in full within 6 months
- On purchases of $600 or more if the entire purchase amount is paid in full within 12 months
- On purchases of $800 or more if the entire purchase amount is paid in full within 24 months.
Equal monthly payments
Make equal payment;
- For 6 months on Amazon.com on purchases of $150 or more and pay no interest.
- For 12 months on Amazon.com on purchases of $600 or more and pay no interest
- For 24 months on Amazon.com on purchases and pay no interest.
You are still required to make at least the minimum monthly payment during the special financing period. Also to enjoy full benefit, you need to pay off the entire balance before the intro period ends or you will end up incurring all the interest you accrued during the 6, 12 or 24 months period (known as deferred interest).
Once the intro period ends, there’s a high 25.99% Variable APR.
Rewards: None
Welcome bonus: $10 Amazon.com gift card upon approval
Annual fee: $0
Intro APR: Pay no interest on all Amazon purchases of $150 or more if the entire purchase amount is paid in full within 6,12 or 24 months.
Regular APR: 25.99% Variable
Balance transfer fee: Not applicable
Foreign transaction fee: Not applicable
Pros:
- $10 Amazon.com gift card upon approval with no spending requirements
- No annual fee
- No foreign transaction fee
Cons
- Deferred interest means you will have to pay all interest you incurred during the intro period if you fail to pay your balance in full before it ends
- There are no reward offers
- High APR charge
- Card can only be used at Amazon
Amazon Prime Store card
This Amazon card requires prime membership. They have the same promotional financing offers as the Amazon store card but have some cash back rewards.
Rewards: 5% back on Amazon.com
Welcome bonus: $60 Amazon.com gift card upon approval
Annual fee: $0
Intro APR: Pay no interest on all Amazon purchases of $150 or more if the entire purchase amount is paid in full within 6,12 or 24 months
Regular APR: 25.99% Variable
Balance transfer fee: Not applicable
Pros:
- $60 Amazon.com gift card upon approval with no spending requirements
- No annual fee
- A variety of promotional financing offers
- High 5% back at Amazon.com
Cons:
- Prime membership is required
- Deferred interest means you have to pay all interest you incurred during the intro period if you don’t pay your balance in full before it ends
- The 5% back only applies to Amazon.com purchases and the card can only be used at Amazon.
Conclusion
If you intend to get an Amazon credit card, you have the best four options at the moment in this article so it is a must read. Also, compare the range of features from rewards, welcome bonuses and others to other factors like the required credit and customer reviews.
