Why Amazon Credit Card is the best?
Amazon.com’s what? Few. Amazon shoppers may spend a lot of money.
If so, choose one of the best Amazon credit cards to earn points or fund major purchases (while accessing some extra card perks to boot). Synchrony Bank’s store-only card or Chase’s regular card are your main choices.
Synchrony Bank offers Amazon and Prime Store Cards. Chase offers Prime and non-Prime Amazon Rewards Visa Signature Cards.
Know which Amazon card suits your finances and shopping habits. Credit score and Amazon Prime membership determine card options.
This tutorial helps you choose an Amazon credit card.
Amazon credit cards: Comparisons
Open vs. closed loop
Different restrictions apply to Synchrony and Chase Amazon cards. Synchrony Amazon cards are closed-loop credit cards you can only use at Amazon.
Amazon.com, Audible.com, and some Amazon Pay businesses accept Synchrony’s card. Open-loop Chase Amazon cards can be used anywhere Visa is accepted.
Approval odds
Different criteria apply to Synchrony and Chase Amazon cards. Synchrony’s Amazon cards require good credit.
Chase Amazon Visa cards require good credit.
Rewards
Synchrony’s Amazon Prime Store Card and Chase’s Amazon Prime Rewards Visa Signature offer 5% cash back.
Chase’s Prime Rewards card gives 2% cash back at restaurants, gas stations, and drugstores.
Amazon Rewards Visa Signature Card non-members earn 3%. Amazon Prime Visa incentives are the same as Whole Foods.
Restaurants, gas stations, and pharmacies give 2% back.
Other purchases get 1% back. Amazon Store Card rewards don’t work without Prime.
Chase offers more flexible Amazon Prime Store Card bonuses than Synchrony.
Amazon Prime Store Card bonuses work only on Amazon.com. Amazon Visa Card benefits can be redeemed for cash back, statement credits, or vacation.
Some Options for Finances
Synchrony and Chase offer Equal Pay loans with different terms.
Synchrony’s Amazon cards offer Equal Pay. Six, 12 or 24 months 0% APR on store cards:
- 6 monthly payments on $50+
12 equal monthly payments on $300+ items (until Dec. 26, 2022; usually $600).
24 monthly payments on $600+
- The Chase Amazon Visa card offers six, 12 or 18 months to pay without interest.
- 6 equal monthly payments on purchases of $50 or more
- 12 equal monthly payments on purchases of $250 or more
- 18 equal monthly payments on purchases of $500 or more
Amazon’s Special Financing defers Synchrony card interest. Chase cardholders qualify.
Synchrony’s Amazon store cards have a variable 28.99 percent APR, which is higher than the average credit card interest rate.
Amazon Prime Store Card vs. Visa Signature Card:
Chase and Synchrony provide Prime credit cards. Your Prime status will affect card application. Prime membership maximises Amazon credit card perks.
The Prime Store Card and Prime Rewards Visa Signature both offer 5% cash back on Amazon.com purchases, but have distinct sign-up bonuses, approval rates, and cardholder benefits.
| 5% cash back on Amazon.com purchases |
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| Sign-up bonuses | $10 Amazon.com gift card upon approval (up to $100 in some cases) |
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| Annual fee | $0 (but requires $139 Amazon Prime membership) | $0 (but requires $139 Amazon Prime membership) |
| card perks |
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Which Amazon credit card is best for you?
If feasible, get a Synchrony or Chase Prime card.
Try a Synchrony Amazon Prime card if you can’t get a Chase card. If you can pay $139 for Prime, apply (perhaps with enough spending that your rewards end up covering it). Amazon.com break-even is $2,780/year or $231/month.
If you have a Chase card, get Amazon Prime Rewards Visa Signature. You can pay for Prime with rewards, but you’ll have more options.
Don’t overspend with your Amazon card. Only buy what you need and pay off debt monthly to avoid interest.
Bankrate.com researched the Amazon Store Card, Prime Store Card, Prime Rewards Visa Signature Card, and Amazon Rewards Visa Signature Card. Card issuer hasn’t analysed the data.
