Amazon Credit Card Review: More Amazon.com Rewards and Perks

AlexandrBognat / Shutterstock.com

As an e-commerce trailblazer, Amazon.com has come a long way since its debut in 1995 as an online book retailer. Following its launch, the website steadily added more products — music, toys, electronics, tools, hardware, clothing and more — until it evolved into the online retail giant it is now.

To accommodate the financing needs of its millions of customers, Amazon.com offers consumers the Amazon Rewards Visa Signature Card. If you’re wondering whether this credit card would be a good choice for you, keep reading to learn about its features, pros and cons. If it’s for you, consider applying so you can start shopping on Amazon and earning rewards right away.

Amazon Credit Card Review

Explore the benefits you’ll get from these Amazon rewards card features. Then, decide if the credit card can meet your financial needs:

Amazon Credit Card Fees

You won’t pay an annual membership fee for the Amazon Rewards Visa card or foreign transaction or returned check fees. You will, however, be charged for the following:

Amazon Credit Card Interest Rates

The Amazon credit card interest rate ranges from 15.24% APR to 23.24% APR, based on your creditworthiness. The rates can fluctuate with the market — every time APRs rise a quarter-point, it results in $2.50 in additional interest per $1,000 of your credit card balance. This can add up over time, especially if interest rates rise even more.

Explore: Guide to Current Credit Card Interest Rates

Amazon Rewards Card Requirements

To qualify for the Amazon.com Rewards Visa Card, you must be at least 18 years old — 19 in Alabama and Nebraska — and a resident of the U.S. with a Social Security number or individual taxpayer identification number.

If you meet the qualifications and apply, you’ll be notified if you’re instantly approved. If your application requires review, you’ll have to wait two to four weeks to hear back.

Amazon Rewards Card Rewards, Benefits and Special Perks

Some perks of the Amazon Rewards Visa card include:

The Amazon Rewards Card also features zero fraud liability and extended warranty coverage. Special perks include:

Find Out: 22 Secret Ways to Save Money at Amazon

Amazon Rewards Visa Card Pros

To help you make a decision about applying for an Amazon card, check out its advantages:

Amazon Rewards Visa Card Cons

Every credit card has features that might not be as attractive as others. Here’s what you might not love about this retail credit card:

Should You Get an Amazon Card?

The Amazon Rewards Visa card can provide a lot of value if you shop at Amazon.com. In addition, you don’t have to pay an annual fee. If you’re not planning to pay off your credit balance each month, however, you will incur fees because of the relatively high interest rate.

For additional value, you might want to consider the Amazon Prime card. It offers an additional 2 percent cash back on purchases you make at Amazon.com. You must have an Amazon Prime membership to qualify for the card, however, which will run you an extra $10 a month — or you can pay it in full for $99 a year.

Next Up: 10 Features That Make Amazon Prime Worth the Money

This content is not provided by the companies mentioned. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved, or otherwise endorsed by Amazon or Visa.