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If you’re looking to pay for a large Amazon purchase over time, the Amazon.com Store Card issued by Synchrony Bank may be a card you’re considering, but there are probably much better options for you.
If you want to earn rewards for shopping on Amazon and get a card that you can use to shop anywhere Visa cards are accepted, check out the much better Amazon Rewards Visa Signature Card and Amazon Prime Rewards Visa Signature instead. Read our review of those Amazon Visa cards here.
Our Rating: 2 out of 5 Stars
We gave the Amazon.com Store Card 2 out of 5 Stars.
The card can earn 5% back on purchases for Prime subscribers and you’ll get a $10 Amazon gift card when you’re approved, but the Amazon Prime Rewards Visa Signature (Review) can provide you that and more.
This card can only be used on Amazon.com, unlike the other Amazon cards can be used anywhere Visa cards are accepted.
The real value some people may get out of this card is the special financing deals, but you might be able to get a introductory 0% APR offer on a card that isn’t store-specific and doesn’t have deferred interest like this one. We see the possibility of deferred interest as a huge negative for this card, since there are many 0% APR offers available on other cards without deferred interest.
For non-Prime subscribers, this card doesn’t earn any rewards, and the main appeal is the special financing offers.
For Prime subscribers, this card earns 5% back on purchases, in addition to providing some special financing offers. This 5% back is issued as Amazon credit.
The special financing offers on this card work as follows:
- No interest for 6 months on purchases of at least $149 if paid in full by the end of the 6 months.
- No interest for 12 months on purchases of at least $599 if paid in full by the end of the 12 months.
- No interest for 24 months on select Amazon.com items if paid in full by the end of the 24 months.
Minimum monthly payments are required for all of the finance plans.
Caution: It’s important to note these are deferred interest offers. They do not work the same way many 0% introductory APR offers work. If you fail to pay back your entire purchase within the time frame or make a late payment, you’ll be charged interest going all the way back to the purchase date.
There is also something called equal monthly payment financing offered on some items, which allows you to split up a purchase into 12 equal payments with a 0% intro APR.
When you’re approved for this card, you’ll also get $10 Amazon Gift Card applied to your account.
If you get 5% back as an Amazon Prime subscriber, you will not be able to get rewards on purchases with special financing offers. When checking out, Prime users will be given a choice to either earn the 5% back or choose an eligible financing plan.
If you want to make a big purchase on Amazon and pay it off over time, the Amazon.com Store Card may be one to consider, although you might be able to get better terms with a non-store-specific card that has a 0% introductory APR offer, since the Amazon.com Store Card has the potential to charge you deferred interest.
The Costs & Fees
|Card||Annual Fee||Regular APR||Regular Balance Transfer APR||Cash Advance APR||Foreign Transaction Fee|
|Amazon Store Card||$0||27.74% Variable||N/A||N/A||N/A|
|Card||Penalty APR||Late Fee||Returned Payment Fee|
|Amazon Store Card||None||Up to $35||N/A|
There’s no annual fee on this card, but take note of the relatively high APR on the Store Card. If you do any special financing, which is the main reason you’d probably get this card, you’ll want to make sure you pay off the promotional balance before the period ends to avoid deferred interest at such a high APR.
The Bottom Line
The only real reason to apply for this card would be for the financing, but you can probably get a better deal by applying for a card with a 0% introductory APR on purchases since that probably won’t have the same type of deferred interest terms you’ll find on this card.
If you want 5% back on Amazon purchases and you’re a Prime subscriber, the Amazon Prime Rewards Visa Signature is likely the better option, plus you can use that card anywhere Visa cards are accepted.
Was this review helpful to you? Go ahead and share it with a friend! And if you have the card, leave your own review of the Amazon.com Store Card here.
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