Amazon Store Card full review

If you're a Prime member, this card gives you 5% back at Amazon. Enjoy the benefits of being a loyal Amazon customer!

What do I need to know about the Amazon Store Card?

Synchrony Bank is the issuer of the Amazon Store Card. Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry’s most complete digitally-enabled product suites. 

Synchrony traces its roots to 1932, so that’s more than 90 years of history. it currently has 72.4 million active customer accounts and more than 18,000 employees.

Amazon needs no introduction and I bet you have made some purchases through the site in the last few months or maybe weeks, am I right?

So, how about improving your Amazon shopping experience? That is why I want you to learn more about one of the store cards, the Amazon Store Card.

It has been referred to as “one of the most influential economic and cultural forces in the world”, and is one of the world’s most valuable brands. Amazon’s revenue in 2021 reached the value of US$ 469.822 billion. In 2021, it surpassed Walmart as the world’s largest retailer outside of China, driven in large part by its paid subscription plan, Amazon Prime, which has over 200 million subscribers worldwide.

Amazon Prime is a monthly or annual membership program that offers many exclusive benefits. And this point is of great interest to us because Prime Store cardmembers have additional advantages when shopping at Amazon.

How does the Amazon Store Card work?

So, as long as you’re signed into your Amazon Prime account, you’ll get 5% back on all purchases made with your associated Amazon Store Card. Without a Prime membership, you won’t earn any cash back rewards.

So we can say that this is a prerequisite for this card to be worthwhile, meaning that you’ll want to have Amazon Prime to take full advantage of the perks.

Actually, instead of receiving the 5% cash back, you can take advantage of promotional financing offers. There are two options for this:

Equal Monthly Payments

Pay equal monthly payments on purchases, at 0% APR, over the financing offer period.

  • 6 equal monthly payments on purchases between $50 and $299.99.
  • 12 equal monthly payments on purchases of $300 or more (Holiday-exclusive offer valid 11/1 – 12/26, usually $600).
  • 24 equal monthly payments on select purchases of $600 or more.

Special Financing

Special financing options are available on purchases of $150 or more.

  • 6 months on purchases between $150 and $599.99.
  • 12 months on purchases of $600 or more.
  • 24 months on select purchases.

And it doesn’t hurt to remember the obvious: the Amazon Store Card is a store credit card, which means you can only use it on purchases from Amazon. But I believe this is far from a problem, given the huge variety of products that are marketed by Amazon.

The Amazon Store Card has a variable purchase APR of 28.99, a little above the market average, and a Late Fee of up to $40.

Amazon Store Card benefits

  • The Amazon Store Card has a 0% APR financing. You buy now and pay over time with equal monthly payments on qualifying purchases.
  • The Amazon Store Card has a $0 annual fee.
  • If you consider security an important item when choosing your credit card, then you have nothing to worry about. With the Amazon Store Card, you are protected from any unauthorized charges.
  • Once you’re approved, you’ll instantly get a $10 Amazon gift card. It won’t make you rich, but it is a nice addition.
  • Amazon Store Card reports to three credit bureaus (Equifax, Experian, and Transunion). Therefore, by making good use of the Amazon Store Card, you can improve your credit.

How to apply for the Amazon Store Card?

If you found this card interesting and you are a regular customer at Amazon, then don’t waste any time and apply for your Amazon Store Card right now and enjoy the benefits of this card.

You will have good approval odds if your credit score is above 650.

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