Amazon Prime Store Card Review

If you’re a Prime member with a fair credit score who has a seemingly never-ending series of Amazon deliveries en route to your house, the Amazon Prime Store Card could be a great card for you. That’s because it offers a very generous rewards rate: Prime members can earn 5% back at Amazon.com.

You can also opt for special financing on purchases of $150 or more. But beware — this option can lead to pricey interest charges if you’re unable to pay the balance in full within the promotional period.

It’s a store card, which means you’re limited to using it for Amazon purchases, and you’ll only earn cash back if you have an Amazon Prime membership. If you have a high credit score, you should check out other cash back credit cards before you apply for this one. There are much better cards that let you earn rewards on a variety of purchases.

• Annual fee: $0
• Sign-up bonus: $10 Amazon Gift Card upon approval
• Rewards: Prime cardholders can earn 5% back at Amazon.com
• Promotional financing: Get 0% interest for six to 24 months on purchases of $150 or more if you opt for special financing instead of cash back rewards on these purchases
• Regular purchase APR: 29.99%
• Other benefits: Zero fraud liability
• Credit needed: Fair

• Earns generous cash back for Prime members

  Prime cardholders can earn 5% back at Amazon.com. You can redeem that cash back toward eligible Amazon purchases or as a statement credit to your card. If you choose to use the card’s special financing option, you can’t earn cash back on those purchases.

  While 5% back at Amazon.com is a generous offer, the Prime Visa offers a better rate if you have good / excellent credit. You’ll earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases with an eligible Prime membership, unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare), and unlimited 1% on all other purchases. If you’re looking to use your card and earn rewards on more than just Amazon, you should opt for an option like the Prime Visa.

• Get an Amazon gift card upon approval

  The Amazon Prime Store Card makes it easy to earn its sign-up bonus. Get a $10 Amazon Gift Card upon approval. There’s no spending requirement to earn this sign-up bonus, making it a quick way to start earning toward your Amazon purchases.

  While there are cash back cards available that offer much higher sign-up bonuses, they often require you to spend around $3,000 in the first three months of card ownership to earn the bonus.

  The Prime Visa allows you to get a $150 Amazon Gift Card instantly upon approval exclusively for Prime members. The Blue Cash Everyday^® Card from American Express allows you to earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months. 

• Opt in to promotional financing

  The Amazon Prime Store Card gives you the option to either earn 5% cash back or take advantage of promotional financing on your purchases. Amazon offers two types of promotional financing — equal monthly payments and special financing:

  Equal monthly payments financing: You’ll have six, 12 or 24 months — depending on purchase amount — to make set monthly payments with a 0% APR (followed by a 29.99% APR). If you pay it off as planned, you won’t accrue interest.

  • Six equal monthly payments on purchases between $50 and $599.99
  • 12 equal monthly payments on purchases of $600 or more
  • 24 equal monthly payments on select purchases

  Special financing: Available on purchases of $150 or more. You’ll have six, 12 or 24 months — depending on the purchase amount — to pay off your item. If you pay it off within that period, you won’t be charged interest. You’ll pay a 29.99% APR after that.

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

  However, the special financing option involves what’s called deferred interest, and this can be risky. If you don’t pay off the full purchase amount within the promotional financing period, you’ll be hit with interest from the original date of purchase.

• You won’t earn cash back without a Prime membership

  While the Amazon Prime Store Card has a $0 annual fee, you’re required to have an Amazon Prime membership to earn cash back. An Amazon Prime membership costs $139 per year ($14.99 per month) or $69 per year ($7.49 per month) for students. You would have to spend $2,780 on Amazon purchases with the card (or $1,380 for a student account) to recoup the cost of a membership.

  If you’re already an Amazon Prime member, you won’t have to worry about adding this extra cost to your budget. But if you’re not a Prime member and don’t plan on becoming one, there are options.

  The Amazon Rewards Visa Signature Card doesn’t require a membership and you’ll earn 3% back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases, 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare), and 1% back on all other purchases. Or, consider a general cash back credit card.

• Beware of the risk of deferred interest

  If you decide to use special financing with the Amazon Prime Store Card (available when making a purchase of $150 or more), you should know it involves deferred interest. Unlike a 0% intro APR period, financing with deferred interest means you’ll be hit with interest charges from the date of purchase if you don’t pay off the full amount within the promotional period.

  Considering this card’s high 29.99% APR, you could owe a large amount of interest if you miss a payment. If you still decide you want to make use of a special financing period, be sure to make all your payments on time and double-check that your balance is fully paid before the end of the promotional period. Also, don’t assume the minimum monthly payments will be enough to pay off your purchase in full.

• You can only use this card for Amazon purchases

  The Amazon Prime Store Card is a store card, meaning you can’t use it anywhere other than Amazon. If you need a credit card you can use on other purchases like groceries, gas and restaurants, this isn’t it. If you want to earn rewards on other purchases, you’ll need to search for a credit card like the Prime Visa.

Amazon Prime Store Card vs. Prime Visa

The Prime Visa is a much better alternative if you’re an Amazon Prime member with a high credit score. You can use the Prime Visa anywhere. You’ll also earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases with an eligible Prime membership, unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare), and unlimited 1% on all other purchases.

There’s a $0 annual fee to own the card and you’ll get other benefits like purchase protection, auto rental coverage and lost luggage reimbursement. Your rewards can go much further with the Prime Visa card and be applied directly to Amazon purchases at checkout or redeemed for travel, cash and gift cards.

Amazon Prime Store Card vs. Amazon Secured Card

If you love to shop at Amazon but your score is too low to qualify for the Amazon Prime Store Card, the Amazon Secured Card is a good option. It’s a secured credit card, meaning you’ll have to put down a deposit that will act as your credit limit. The deposit is low compared to other secured cards starting at $100. You’ll only earn 2% back at Amazon.com and Whole Foods Market with an eligible Prime membership. But the Amazon Secured Card comes with very reasonable rates and fees. There’s a 10.00% non-variable purchase APR, $0 annual fee and maximum late payment fee of $5. If you’re worried about getting approved for an Amazon card, this is a much more affordable option than the Amazon Prime Store Card.

Amazon Prime Store Card vs. Blue Cash Everyday^® Card from American Express

The Blue Cash Everyday^® Card from American Express lets you earn 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%. 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%. 3% Cash Back at U.S. gas stations, on up to $6,000 per year in purchases, then 1%. 1% cash back on other purchases. Terms apply. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.

You can also earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.  Plus, you’ll get an intro APR of 0% on purchases for 15 months (followed by an APR of 18.49%-29.49% Variable.)

Overall, this card is packed with value if you’re looking for a general cash back card. However, you’ll need good / excellent credit to be approved.

If you have an Amazon Prime membership, and you are looking for a card to exclusively use on Amazon purchases, the Amazon Prime Store Card offers a chance to earn cash back at a great rate for a $0 annual fee. But, because of this card’s limitations and risk of deferred interest, it isn’t the best Amazon credit card choice.

If you’re looking for a card that can reward you for online shopping while offering more flexibility, you’re better off with another Amazon credit card or a cash back credit card that offers rewards on a variety of spending categories.