What's the catch with the Amazon Credit Card?

Yes, the Amazon.com Store Card does affect your credit score, but the exact impact depends on how you use the card. If you make payments on time and keep your credit utilization low, your score should increase, but it will decrease if you don’t.

In addition, applying for the card has a small negative effect on your credit, and closing the card can hurt your score as well. If you want to estimate how the Amazon.com Store Card might affect your credit score in particular, you can use WalletHub’s free ... read full answercredit score simulator.

Instances When the Amazon.com Store Card Affects Your Score

• Application
  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.
• Payments
  The Amazon.com Store Card’s issuer will report your payment status to the credit bureaus on a monthly basis. Paying on time should increase your credit score, while late payments will cause it to decrease. Paying in full every month and not carrying a balance is the best situation.
• Credit Utilization
  Using more than 30% of your credit limit can have a negative impact on your credit score. Using around 1% to 10% is ideal, but even using 0% will help your score. The issuer will report your credit utilization to the credit bureaus on a monthly basis.
• Closing the Account
  Canceling your card can have a negative impact on your credit score. But exactly how much it will impact your score depends on how long you have had the account open and how high your credit line is. Older accounts with higher credit lines will hurt your score more if you close them.

In summary, the only way the Amazon.com Store Card affects your credit score that’s out of your control is the initial hard pull when you submit the application. After that, whether your score goes up or down depends on how responsibly you use the account.

Yes, the Amazon.com 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 ... read full answer(888) 247-4080. The sooner you report a lost or stolen card, the quicker you'll be able to prevent unauthorized charges on the account and get a replacement card shipped to you in the mail.

Lastly, if you are referring to the Amazon.com Store Card, it also comes with $0 liability for unauthorized transactions. If you lose this card, you should report it immediately by calling (866) 634-8379.

The Amazon.com Credit Card annual fee is $0. Amazon.com Credit Card’s $0 annual fee is lower than the average annual fee among new credit card offers right now. It’s not the only fee you need to worry about with the Amazon.com Credit Card, though.

Important Amazon.com Credit Card Fees

• Annual Fee: $0
• Cash Advance Fee: 4% (min $5)
... read full answer
• Foreign Transaction Fee: 0%
• Balance Transfer Fee: 4% (min $5)
• Max Late Fee: $39

It is also worth noting that the Amazon.com Store Card has a $0 annual fee, too.