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How Does LendingTree Get Paid?

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Amazon Secured Card Review

Amazon Secured Card Review

Annual Fee
$0
Rewards Rate
2% back at Amazon.com, Amazon Fresh and more, with an eligible Prime membership
Security Deposit
Minimum $100 security deposit up to $1,000
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Amazon Secured Card best for?

The Amazon Secured Card is an excellent card for people who love to shop at Amazon but are new to credit or rebuilding their credit score. The $0-annual-fee card offers 2% back at Amazon.com, Amazon Fresh and more, with an eligible Prime membership. And if you need to carry a balance from month to month, the interest rate is very competitive for a secured credit card.

Cardholders receive access to free credit-tracking tools to monitor their progress in building credit. Additionally, after 12 months of responsible use, cardholders may be eligible to convert their card to a store card that earns 5% rewards on Amazon purchases.

We highlight the pros and cons of the Amazon Secured Card, and show how it compares to similar secured credit cards, to help determine if it’s the right fit for you.

The information related to the Amazon Secured Card and the Amazon Prime Store Card has been independently collected by LendingTree and has not been reviewed or provided by the issuers of these cards prior to publication.

Amazon Secured Card overview

    • No annual fee
    • Minimum $100 security deposit up to $1,000
    • Join Prime to get 2% back on Amazon.com
    300 600
    Poor/Limited
  • Free credit-tracking tools to monitor your credit score
  • Eligible for conversion to an Amazon Secured Card after 12 months
  • Rewards can be used to make Amazon purchases or redeemed as a statement credit

Intro Purchase APR

N/A

Regular Purchase APR

10.00% non-variable

Intro BT APR

N/A

Regular BT APR

N/A

Annual Fee

$0

Cash Advance Fee

N/A

Foreign Transaction Fee

N/A

Balance Transfer Fee

N/A

Pros and cons of the Amazon Secured Card

Pros

  • Cash back rewards on Amazon purchases
  • Reports to the major credit bureaus
  • Low minimum deposit required
  • Low APR and limited fees

Cons

  • Requires Prime membership to earn rewards
  • Can only be used to make purchases at Amazon
  • Low maximum credit limit

What we like about the Amazon Secured Card

  • Cash back rewards on Amazon purchases

    Amazon Secured Card holders can earn 2% back at Amazon.com, Amazon Fresh and more, with an eligible Prime membership — making it one of the best cards for Amazon purchases. Rewards can be redeemed for eligible Amazon.com purchases or for statement credit.

  • Reports to the major credit bureaus

    One of the most common reasons to get a secured card is to build your credit profile for future borrowing needs. The Amazon Secured Card reports your card usage and payment history to the three major credit bureaus (Equifax, Experian and TransUnion). By using the card responsibly over time, you’ll build your credit and potentially qualify for even better credit card offers.

  • Low minimum deposit required

    Once you’re approved for the Amazon Secured Card, you’ll be required to submit a security deposit — which will serve as your line of credit — ranging from $100 up to the amount you’re approved for (maximum of $1,000). That’s an ideal minimum deposit requirement if you don’t want to submit a large amount upfront.

    Note, you’ll receive your security deposit back if you close your account or convert to an unsecured Amazon credit card.

  • Low APR and limited fees

    If you need to carry a balance on your Amazon Secured Card month over month, know that it comes with a very low 10.00% non-variable purchase APR. The card also charges a $0 annual fee and a maximum late payment fee of just $5.

    That said, a Prime membership fee is required if you want to earn rewards with this card. Additionally, to avoid negatively impacting your credit, we recommend paying your balance on time each month and in full whenever possible.

What to look out for with the Amazon Secured Card

  • Requires Prime membership

    Anyone can apply for the Amazon Secured Card; however, if you want to earn rewards on the purchases you make using the card, you must have an Amazon Prime membership.

    While Prime membership provides numerous benefits, such as free shipping and access to Prime Video, the $139 annual cost (or $14.99 monthly cost) may be too much for people focused on building their credit.

  • Can only be used to make purchases at Amazon.com

    Unlike the majority of rewards credit cards, which allow you to make purchases using the card everywhere you shop, the Amazon Secured Card can only be used at Amazon.com and Amazon physical stores.

  • Low maximum credit limit

    While the Amazon Secured Card provides the opportunity to submit a low security deposit of just $100, beware that the maximum credit line it offers is only $1,000. If you need more purchasing power than that, you may want to consider a secured credit card with a high credit limit.

Alternative secured card

Compare it to the Discover it® Secured Credit Card

| Disclosures
Discover it® Secured Credit Card
Discover it® Secured Credit Card
on Discover's secure site
N/A
26.74% Variable APR
$0
2% cash back at Gas Stations and Restaurants on up to $1,000
  • No credit score required to apply.
  • No Annual Fee, earn cash back, and build your credit with responsible use.
  • Establish your credit line by providing a refundable security deposit of at least $200. That means a $200 deposit for a $200 credit line. Or a $500 deposit for a $500 credit line. Bank information must be provided when submitting your deposit, and the security deposit equals your credit limit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • Click "Apply Now" to see terms and conditions.
300 600
Poor/Limited

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

If you want the opportunity to earn cash back on every purchase you make using a card, as well as the ability to use your card everywhere you shop, the Discover it® Secured Credit Card may be a better fit.
Cardholders earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically Plus, Discover will match all the cash back you’ve earned at the end of your first year.

With the Discover it® Secured Credit Card, you can become eligible to convert to an unsecured card after just seven months, versus the 12 months required for the Amazon Secured Card. The card also charges a $0 annual fee — with no additional membership fees required to earn rewards, and waives the late fee the first time you pay late (after that, the fee will be up to $41).

One downside of the Discover it® Secured Credit Card is that the minimum security deposit is $200, which may be harder to come up with for some people. Additionally, the card charges an APR of 26.74% Variable APR, which is much higher than the Amazon Secured Card if you are unable to pay your balance in full each month.

Compare the Amazon Secured Card to similar cards

Comparison of four different credit cards
Amazon Secured Card Discover it<sup>®</sup> Secured Credit Card Amazon Prime Store Card Capital One QuicksilverOne Cash Rewards Credit Card
Amazon Secured Card Discover it® Secured Credit Card Amazon Prime Store Card Capital One QuicksilverOne Cash Rewards Credit Card
Review Coming Soon Apply Now
on Discover's secure site
Read Review
Apply Now
on Capital One's secure site
Welcome Offer
N/A Discover will match all the cash back you’ve earned at the end of your first year. $100 Amazon.com gift card upon approval No bonus
Rewards Rate
2% back at Amazon.com, Amazon Fresh and more, with an eligible Prime membership 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically Prime cardholders can earn 5% back at Amazon.com 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply)
Annual Fee
$0 $0 $0 $39
Regular APR
10.00% non-variable 26.74% Variable APR 28.24% Variable 28.49% (Variable)
Recommended Credit
Poor/Limited Poor/Limited N/A Fair/Limited
Card Details
Additional card details unavailable Discover it® Secured Credit Card Amazon Prime Store Card Capital One QuicksilverOne Cash Rewards Credit Card

Is the Amazon Secured Card right for you?

If you frequently make purchases at Amazon and need to build credit, you may want to consider the Amazon Secured Card. In addition to offering 2% back at Amazon.com, Amazon Fresh and more, with an eligible Prime membership, the card reports your credit activity to the major credit bureaus.

However, while this secured card offers rewards on Amazon purchases, it cannot be used to pay for purchases at non-Amazon stores. Because of that, you may be better off with one of the best secured credit cards for all of your daily purchases.

The information related to the Amazon Secured Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.