Amazon Store Card Rewards
The Amazon Store Card ranks among WalletHub’s editors’ picks for the best store credit cards, as well as the best credit cards to build credit and more. The card starts you off with an excellent initial bonus: an $80 Amazon gift card, which is automatically loaded onto your Amazon account when you’re approved.
The card’s ongoing rewards are 5% back on Amazon.com and Whole Foods Market purchases for Prime members. That’s around the average earning rate for a store credit card but still a lot better than you’d get from most general-purpose credit cards. However, if you are not an Amazon Prime member, you will not receive any rewards on your purchases.
The only downside to this card’s rewards is that you can’t use the card or earn rewards outside of Amazon and a few other merchants. Other Amazon credit card options, which require at least good credit for approval, offer rewards outside of Amazon.
Key Things to Know About Amazon Store Card Rewards
- No limit: There is no limit to the number of points you can earn.
- No expiration: Your points will never expire as long as your account remains in good standing.
- Redemption options: You can redeem your points for Amazon purchases or a statement credit.
Amazon Store Card Fees and Interest Rates
$0 Annual Fee
The Amazon Store Card has a $0 annual fee, which makes it a cheap way to get rewards on your shopping while building credit, assuming you have Amazon Prime.
0% Financing on Purchases
The card’s promotional financing offers can get you 0% for 6 - 24 months on eligible purchases. There are two different financing options you can pick from:
- Equal Monthly Payments: You can pay for eligible purchases in equal monthly installments of 6, 12 or 24 months with 0% interest. The minimum purchase amount is $50 for 6-month financing and $600 for 12-month financing, with 24-month financing only available on select purchases. If you fail to make your installment payments on time, you will be charged a fee which itself will accrue interest at the card’s regular APR of 29.99% (V).
- Deferred Interest Financing: You can pay off eligible purchases interest-free over 6, 12 or 24 months, with no strict amount you have to pay each month other than your card’s minimum payment. You must spend at least $150 for 6-month financing and $600 for 12-month financing, and 24-month financing is only available on select purchases. However, this offer uses deferred interest. If you don’t pay back your full balance by the time the 0% introductory period ends, you owe all the interest that would have accrued at the card’s regular APR of 29.99% (V), from the date of purchase.
Aside from fees and deferred interest, there is another drawback to the Amazon Store Card’s promotional financing. Purchases you finance with a 0% APR won’t earn any rewards. However, even cardholders without Amazon Prime can access financing.
Amazon Store Card Protection Benefits
Fraud Protection and Fraud Alerts
Synchrony Bank will monitor your account for any signs of fraud and notify you of suspicious charges.
$0 Fraud Liability
You won’t be held liable for any fraudulent purchases that you report to Synchrony Bank or that the bank catches.
Other Amazon Store Card Benefits
Relatively Easy Approval
The Amazon Store Card is available to people with fair or better, or a score of 640+. That means the average American stands a good chance of qualifying.
Credit Building
If you use the Amazon Store Card responsibly, you’ll be able to raise your credit score, since it reports to the credit bureaus on a monthly basis. Responsible use includes paying your monthly bills on time, paying your balance in full when possible, and keeping your credit utilization below 30%.
Amazon Family
The Amazon Store Card doesn’t allow traditional authorized users. However, you can permit up to two adults (including yourself) and four teenagers to shop on Amazon using the store card. You just have to link your accounts through Amazon Family, formerly known as Amazon Household. This will give all of those people access to the card’s credit line, though only the cardholder who opened the account will be able to build credit.
Instant Use
If you’re approved for the Amazon Store Card, the card gets automatically added to your Amazon account, according to anecdotal reports from cardholders. That means you can start making purchases right away.
Benefits the Amazon Store Card Doesn’t Have
Since the Amazon Store Card can only be used at Amazon and a select few other merchants, it lacks a lot of supplemental benefits that credit cards you can use anywhere might have, such as:
- Travel insurance
- Rental car insurance
- Purchase protection
- Price protection
- Return protection
- Extended warranties on purchases
- Cell phone insurance
You can learn more about this card from WalletHub’s in-depth Amazon Store Card review.
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