Consumers with an Amazon credit card can save even more on and off the website by taking advantage of cash-back rewards. Cardholders earn 5% back at Whole Foods Market with a Prime membership; 2% at restaurants, gas stations and drugstores; and 1% back on all other purchases.
What Credit Score Must You Have To Qualify for the Amazon Credit Card?
The answer depends on which credit card the cardholder applies for. Amazon offers two credit card options:
- The Amazon Store Card. Customers can only use the Amazon Store Card on Amazon.com. According to the company, they are more likely to approve an applicant if their credit score is at least 640. Of course, the higher your credit score, the higher your likelihood of approval. Amazon Store Card members who join Amazon Prime earn 5% back on all purchases.
- The Amazon Rewards Visa Card. The Amazon Rewards Visa Card works like any other Visa credit card. Cardholders can use the Amazon Rewards Visa credit card at any retailer that accepts Visa. They also earn exciting perks for doing so, but the credit score requirements may be slightly more stringent. According to an independent report, applicants should have at least a 650 credit score.
Remember that meeting minimum credit score requirements helps applicants get approved, but it isn’t a guarantee of approval. Credit card companies typically use a wide range of qualifications to make approval decisions.
What Are the Benefits of Having an Amazon Credit Card?
Amazon credit cards come with several cardholder benefits, including:
- No annual fee
- The potential to earn rewards up to 5% cash back on all Amazon Rewards Visa Card purchases and all Amazon Store Card purchases with an Amazon Prime account
- 0% promotional financing for qualifying purchases with the Amazon Store Card
Other Factors Lenders Consider
Most lenders use various factors to determine which applicants receive their credit cards. This means they may decline some applicants with excellent credit. Here are the most important factors lenders typically consider other than credit scores:
- Credit utilization. The more money people borrow, the higher their chances of bankruptcy in the future, so lenders typically pay close attention to credit utilization when deciding to approve or decline an application.
- Debt-to-income ratio. A high debt-to-income ratio is another red flag that the applicant may face bankruptcy in the future. As a result, lenders carefully consider applicant debt-to-income ratios before approving or rejecting a loan application.
- Age and mix of credit accounts. Lenders are more likely to approve an applicant when they have multiple types of loans that have been open and in good standing for years. This shows lenders the applicant is a responsible borrower and likely to pay as agreed.
- Age of applicant. Lenders also pay close attention to the age of the applicant. Although younger borrowers may be approved for student credit cards, traditional options are typically more readily accessible to consumers over 22 years old.
Good To Know
Consumers with poor credit scores who have difficulty getting approved for the Amazon credit card or any other credit card don’t have to settle. These consumers can build their scores to the credit score needed for an Amazon card membership.
Those struggling with poor credit should start by getting a copy of their credit reports and working to rectify the cause of their poor credit scores. Secured credit cards can also help improve credit scores if consumers use them wisely.
FAQ
Potential applicants often have questions about the Amazon credit card. Some of the most common questions include:- What bank issues the Amazon credit card?
- Synchrony Bank issues Amazon store cards.
- Chase issues Amazon credit cards.
- Is there an annual fee for the Amazon credit card?
- The Amazon credit card doesn't have an annual fee.
- Is it easy to get a credit card with Amazon?
- The Amazon Store Card is easy to get if the applicant has a credit score of at least 640, which most lenders consider fair credit.
- However, Amazon designed the Amazon Rewards Visa credit card for applicants with better credit history. An average credit score of 650 is recommended for approval, which is generally accepted as fair to good credit.
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The information related to the Amazon Rewards Visa card was collected by GOBankingRates and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see the issuer’s website for current information. GOBankingRates does not receive commission for this product.