The Amazon Store Card includes a welcome bonus: an gift card instantly upon approval. Rewards are only available to cardholders who are also Amazon Prime members and cannot be combined with special financing offers. It may take up to two billing cycles for rewards earned to be credited to your rewards account. Cardmembers without a Prime membership will not earn rewards The Amazon Store Card earns 5% back with an eligible Prime membership. Prime members with good-to-excellent credit may instead wish to consider the Amazon Prime Rewards Visa Signature Card *, issued by Chase. The rewards earned can only be used for Amazon or affiliated brand purchases, or as a statement credit to the card account. A Prime membership currently costs $139 per year. This differs from a typical 0% introductory APR offer-if you’re still carrying a balance when the introductory period ends, you’ll accrue interest only on the balance that remains, and only from the date the regular APR takes effect.Įarning rewards with the Amazon Store Card only happens when you have an Amazon Prime membership, and only on purchases where you don’t activate a promotional financing period. With this card’s high 29.99% variable APR, you could be hurting if a deferred interest charge hits.
But if you don’t pay the purchase off in full within the promotional period-and minimum payments likely won’t be enough to pay it off in full-you’ll be charged interest on the entire amount from the date you made the purchase. The “special financing” offered by the Amazon Store Card provides a promotional period from 6 to 24 months to pay off your purchase and requires minimum monthly payments.
Deferred financing is often considered a deceptive lending practice because of its complexity and the financial dangers posed to the consumer. The Amazon Store Card *, issued by Synchrony, offers deferred financing options that actually make us frown.
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