Amazon Credit Card: Which Is the Best Option for You?
Frequently, Amazon shoppers may find multiple advantages in purchasing directly with an Amazon Credit Card, that’s no secret. Yet it may be hard to go through every available option, as Amazon has multiple credit card options —each with different benefits— out there.
Of course, Amazon Credit Card options are linked to the type of user you are. That’s to say Amazon Prime users may have different reward options than regular users. To decide which is the best credit card for you, it can be useful to have an Estimate Invoice Template at hand and to keep yourself informed about the different options offered by the market.
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In this article we’ll go through each Amazon Credit Card so you can better understand what this online shopping giant has to offer. Keep reading!
Key takeaways
Amazon Credit Card: A glimpse into Amazon’s options
We’ll go through each Amazon Credit Card so you can better understand how to choose what works best for you. Let’s go straight into it.
Amazon Credit Card: Usable in Visa-friendly establishments
- For Prime subscribers: Prime Visa
- Non Prime subscribers: Amazon Rewards Visa Signature Card
Amazon Credit Card: Usable in Amazon only
- For most clients: Amazon Store Credit Card
- For customers aiming to build credit: Amazon Secured Card
Both Prime and non-Prime users can purchase these cards, however the incentives you receive are based on your Prime status.
Amazon Credit Card for entrepreneurs
- For customers of Prime Business: Amazon Business Prime American Express Card
- For non-customers of Prime Business: Amazon Business American Express Card
Amazon Credit Card: A deeper look into each option
Prime Visa
Issued by Chase, this is an “open loop” Amazon Credit Card, as it may be used in any establishment that accepts Visa —not just at Amazon.
This Amazon Credit Card has a very clear limitation: you don’t have to pay any yearly fee, yet you must be subscribed to the Amazon Prime membership to use it. Keep in mind this membership is $139 a year, pricey, huh?
If you’re a frequent Amazon shopper, you might as well make the most out of Prime’s benefits. Among them, this Amazon Credit Card offers:
- On all Amazon and Whole Foods purchases, 5% cashback.
- Purchases made through Chase Travel get 5% of cashback.
- 2% cashback on gas stations, restaurants, local transportation, including ridesharing, and for commuting.
- All other purchases will earn 1% back.
Amazon Rewards Visa Signature Card
If you’re not an Amazon Prime subscriber, you may as well check this Amazon Credit Card. Also issued by Chase, this credit card is also open-loop, so it’s usable in any Visa-friendly store.
This Amazon Credit Card offers the following benefits:
- On purchases made at Whole Foods and Amazon, you get 3% back in rewards.
- Purchases made through Chase Travel get 3% cash back.
- 2% cash back at restaurants, gas stations, local transportation, including ridesharing, and for commuting.
- All other purchases will earn 1% back.
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Amazon Store Credit Card
This Amazon Credit Card is issued by Synchrony. In contrast to previous options, this one is a closed-loop card, meaning that it can only be used to make transactions at Amazon.
Different benefits are offered to the holders of this Amazon Credit Card, as it comes in two versions:
Non-Prime subscribers: Instead of earning Amazon rewards with this card, you’ll be qualified for exclusive financing choices. Both deferred interest options and financing with equal monthly payments at 0% APR are occasionally available.
Prime subscribers: Choose between preferential financing or 5% back on your Amazon purchases. The rewards you’ll receive are exclusively valid for Amazon purchases, and you can either use them to pay for things in-store or have a statement credit applied to your card afterward.
Additionally, you’ll be qualified for special Prime card deals that allow you to accrue additional rewards on shifting goods and categories.
Although neither card has an annual fee, the latter does require a Prime subscription to be eligible. Sign-up bonuses are occasionally offered for both cards as well. Those offers differ, but upon approval, an Amazon gift card is frequently provided.
Amazon Secured Card
This Amazon Credit Card is also issued by Synchrony Bank, and it is also closed-loop.
This item is quite unusual as it is a store credit card that needs a security deposit as collateral up front ($100 minimum; $500 maximum). Your credit limit is however much you deposit.
The majority of shop cards are unsecured goods, thus no down payment is required. In fact, because store cards generally have lower credit score restrictions, they are frequently more accessible overall.
This Amazon Credit Card offers a low, locked-in APR of 10%, which is significantly lower than the industry standard and can be useful if you need to carry a balance.
For those with an Amazon Prime membership, this card offers 2% cashback for every eligible Amazon purchase.
This Amazon Credit Card does not have an annual charge, however, keep in mind the Amazon Prime subscription costs $139 a year.
Note you might be eligible to switch the Amazon Secured Card to one of the unsecured Amazon store cards (noted above) after a year of responsible card use, which includes on-time card payments among other things, and receive your deposit returned.
Amazon Business Prime American Express Card
Small-business owners who are Amazon Prime members may be eligible for this Amazon Credit Card, which also has no annual charge.
Up to $120,000 in annual expenditures at Amazon Business, AWS, Amazon, and Whole Foods, the card offers 5% back (after that, 1% back). Rules apply.
Those 5% incentives can build up if your firm makes significant purchases on Amazon, so keep that in mind!
Alternatively, you can decide to benefit from 90-day financing on your qualified Amazon business purchases in place of earning the 5% extra rewards rate. Make sure to check the terms and conditions of this Amazon Credit Card.
Amazon Business American Express Card
Non members of Prime can apply to this Amazon Credit Card. Up to $120,000 in annual purchases at Amazon Business, AWS, Amazon, and Whole Foods, you can choose to receive 3% back in rewards (then 1% back).
You can also choose to use Amazon’s 60-day financing instead of the 3% incentives.
The same “other” categories as the Prime version’s additional awards apply to you.
The card features a welcome offer and a $0 annual charge. Upon approval for the Amazon Business American Express Card, receive a $100 Amazon Gift Card. Terms Apply.
How to choose the best Amazon Credit Card?
Keep in mind you may find further information on each Amazon Credit Card in the official’s Amazon site. In order to make a proper decision you should always keep in mind your own financial status and needs.
This article was made with information available in Amazon and NerdWallet.
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