Credit Cards

The Amazon Prime Store Card: Is it Worth It?

Editor's Note

You can trust the integrity of our balanced, independent financial advice. We may, however, receive compensation from the issuers of some products mentioned in this article. Opinions are the author's alone. This content has not been provided by, reviewed, approved or endorsed by any advertiser, unless otherwise noted below.

Just in time for back-to-school and holiday shopping, Amazon.com has rolled out a new Amazon Prime Store Card that comes with either 0% financing or 5% cash back on your purchases. If you are a regular Amazon shopper, this offer could free up some wiggle room in your monthly shopping budget.

Promotional Financing Offers

When it comes to the 0% interest option on the card, there are some caveats. Although the 0% APR offer applies to purchases made with the new Amazon.com Store card, it doesn’t apply to shipping charges or tax. Also excluded are orders made through Subscribe and Save. But, here’s the kicker: Items sold on Amazon.com by third-party sellers do qualify for the promotional offer.

For new accounts, once the promotional period expires, the standard variable purchase APR will be 26.24% (as of 4/1/2022), with a minimum interest charge of $1.50. As per the standard agreement, this variable rate will change with the prime rate.

Another thing to know: Amazon limits purchases made under each offer on specific items. See the list of allowed purchases under each promotion. Here are the four 0% APR offers available:

  • 6 Months Special Financing on purchases of $149 or more. No interest will be charged to your account if the balance is paid in full within six months. However, if the balance is not paid in full within six months, interest will be retroactively charged back to your date of purchase.
  • 12 Months Special Financing on purchases of $599 or more. Enjoy a 0% APR as long as your account balance is paid in full within 12 months. If the balance is not paid in full by the end of 12 months, interest will be charged to your account from the purchase date.
  • 24 Months Special Financing on select Amazon-sold items. You’ll get 24 months with 0% APR on certain Amazon.com purchases. However, it’s important to note that, as with other offers, the interest charged will be retroactive to your purchase date if not paid in full before the promotional period ends.
  • 12 Month Equal Pay offer on select Amazon-sold items. Under this offer, you are required to make 12 equal monthly payments to pay your balance in full, each with 0% APR. The offer excludes 1-click purchases, as well as purchases of products sold on Amazon.com by third-party sellers. Offer is subject to credit approval.

Other Benefits and Features of the Amazon Prime Card

Instant Credit Decision - Once you apply, you should get a response in as little as 15 seconds. Make purchases immediately upon approval.

$10 Amazon.com Gift Card - This will be instantly loaded onto your Amazon.com account as soon as your credit card application is approved. Please note that your complimentary gift card cannot be used for other gift card purchases.

No Annual Fee - Unlike many credit cards, the Amazon Prime Card does not charge an annual fee to account holders.

Zero Fraud Liability - This benefit will protect you from any unauthorized charges on your Store Card account.

Earn 5% Cash Back Every Day

If you don’t need financing for your Amazon.com purchases, you can still benefit from the Amazon Prime Store card by utilizing it for 5% cash back on all Amazon.com purchases.

Once you are approved, you will enjoy an Amazon Prime membership and an instant upgrade to the Amazon Prime Store Card, which will provide cash back as a statement credit. (Visit www.amazon.com/storecard and click Upgrade Now.) Keep in mind, however, that you can only earn 5% cash back on purchases made with your card on Amazon.com - and not at other merchants who accept the Amazon Prime card as payment.

Things to Remember

Although the Amazon Prime Card offers a ton of value for anyone who uses Amazon.com frequently, the card comes with certain limitations. Specifically, you cannot use your card to purchase:

  • Amazon Prime memberships
  • Digital newspapers and magazine subscriptions
  • Games and software downloads at Amazon.com
  • Other gift cards

Further, the 26.24% APR of the Amazon Prime Card charge is steep, which could become a problem if you are unable to pay your balance off within the promotional period. Since interest is charged retroactively to the purchase date with each of the 0% APR financing offers, you should make sure that you can pay your balance in full within the promotional period before making any large purchases.

Is Amazon Prime Card Worth Having?

The decision to take advantage of any credit card offer is always a subjective one. No matter what the pros and cons are, it all comes down to whether or not a card offer will work for you.

Here’s what I think: If you’re considering a new credit card for the purpose of earning rewards, there are better offers out there. After all, this card comes without one of those lucrative signup bonuses everyone seems to crave. Plus, the main benefits this card offers are only good when you’re shopping on Amazon.com.

Still, if you are a regular shopper on Amazon.com, the card may be well worth it for you. Just beware of the fine print and try not to charge up a bigger balance than what you can afford to pay off right away. Earning 5% cash back is a nice benefit, but a 26.24% APR can come back to bite you.


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