Amazon launches many of its products every year. One of which is an amazon prime card made for their Prime members. These cards have a lot of benefits and cashback that you can redeem at amazon stores. In this article, we will see about ‘What Is The Amazon Prime Store Card?’.
What Is The Amazon Prime Store Card?
Further, if you love to shop online, consider this card as an advantage. It makes quick payments easy with its unique features. To know more about this card, refer to the below article.
Then you came to the right place as we will introduce you to its perks. So, you can read our article on the topic “What is an amazon prime store card?” to learn about its uses, benefits, and worth.
What is the Amazon Prime store card exactly?
The Amazon prime card is similar to credit cards but loaded with extra features. So, you can use this card to make online purchases on Amazon stores. Further, it requires you to be a prime member for holding this card.
However, if you are not a prime member, the card will be upgraded when you become one. You will be charged an interest rate on missing payment periods. The penalty fee after late payments will be $40.
Moreover, this card gives you the option to pay later and buy instantly. It is an upgraded version of the previous store card. For non-prime members a standard card is given, and for Prime members, an Amazon Prime store version.
How can I get an Amazon Prime store card?
Amazon is linked with Synchrony bank to offer you their prime store card. Therefore, you must qualify with their terms and conditions to become eligible for the card. They check your credit, current bank statements, payment history, Amazon membership, and other documents.
You can submit them and apply for their account on the amazon.com website. On-site, go to the Amazon payments and card section and select the prime store card. You will also see similar and other cards that amazon has to offer.
The process to apply for an amazon prime store card-
Amazon store is connected to the world marketplace and offers a diverse collection of products. They also have their products that come at cheap to high prices. So, they offer cards merged with banks and private institutions to reward their customers.
Further, these cards allow customers to save cashback, offers, and vouchers for every small to a big purchase. And, who does not enjoy a good cashback when you can get a chance of a 2-5% return on purchased products.
And, you can get it by applying for the card. The process is simple, and you have to follow the below steps to qualify.
- First, create an account at amazon if you do not have one by reaching their site. Now, enter your email and password to open your account and access it anytime.
- Open the menu bar at the top left corner of the Amazon site. Now, hop on to the credit and payment products section to reach your card options.
- Next, choose the type of card you want to apply and open, click the check now button.
- After that, you have to submit a phone number, address, and certain documents to be verified by the Synchrony bank linked with amazon. Next, you can click on the apply now as an option when you are qualified. It does not require you to have high credit just an amazon account.
- Finally, you have completed all the steps. Congratulations, you will receive a number card in digital format and a pin to set up your account. Now, you can use this card to purchase and redeem at amazon stores.
Who can apply for an amazon prime store card?
To be eligible for the application process you have to be a member or a customer of Amazon. Because the link for their store card is only available at the amazon site and synchrony bank site. You will be asked some questions that will be verified by them to qualify you.
So, they need you to have an account opened at amazon to complete the process. Further, this card is created for prime members and rewards will be activated only when you have a Prime account.
For non-prime members, they will receive a standard card with no rewards or cashback offers. Although, you can use it to purchase at any amazon affiliate store or payment place.
But you will not get any benefit from using it at any place in the company. Further, if you buy a prime membership your card will automatically be upgraded to a prime store card and benefits will be activated.
Where can I use my prime store card?
If you are wondering how I will use it then look no further. The card will only work at amazon affiliated places, the payment section, and amazon’s official website. So, when you purchase a product, use this card for payment at amazon.
You can select amazon payment methods at other market places by using an amazon prime store card. It will give you rewards and cashback that will be stored in your account. Moreover, there is no annual fee or maintenance fee for this card.
Although, you have to pay an interest rate of 22% including the rate of products at prime. But this rate will only be charged when you have missed a payment period. You can use this card to pay later and purchase products at any time from amazon.
The payment period will include 6, 12, and 24 months of equal payment options that you can choose according to your products. Moreover, you also have the option of special financing that can be availed on orders above $150 and can be paid in a quarterly period or year based on orders.
Benefits of using Amazon prime store cards?
Amazon store cards can surprise you if you use them correctly. Below I have mentioned some benefits that I see using this card.
- No annual fee required.
- You have a pay later option on qualifying purchases.
- You have a chance of earning 5% cashback on online purchases at Amazon.
- Further, You get an equal monthly option which ranges from 6, 12, to 24 months depending on the total products you purchased. So, if you buy above $150 you get a 6 months payment period. On purchasing products of $600 you get a 12 equal payment period. And, when you purchase products that are above $600 you get 24 equal payment periods.
- Moreover, there is a special financing option on orders of and above $150, $600, and $800.
- Your data is secured with a synchrony bank.
Is an Amazon store card worth it?
It really depends on how you use it and make payments in time. When you will miss payment an interest rate of 26% is applied including the prime rate. So, I would suggest buying limited items only when you can pay for them.
Because purchasing a lot of items isn’t worth it and money can be wasted easily. Equal payment options can become cruel when you have loads of cash to be paid for. So, use smartly and save money on every purchase when you complete the payment period.
You can also opt for other cards that have low-interest rates and can be used at many places. The problem with this card is that you can only use it at Amazon stores.
Conclusion:
The prime store card can be helpful to buy products in emergency times. For example, if people have to shift from one place to another, they might need furniture, storage, lights, etc that can be purchased with this card.
Because you might not have the money to pay at that time. If a student needs to buy books, groceries, or important things you can purchase them and pay later when you have the money. It can be used to purchase important materials without any cost that we depend on.
But the problem is with its interest rate as it is a whopping 26% high if you are unable to pay within the installment period. Therefore, consider it before making any big purchases. Next, the card can only be used at amazon stores and no other places which limits its capacities.
I will consider it to be used with caution there is however a 5%-10% returns on purchases. This can seem rewarding and save money in your pocket when buying higher-priced goods. You can also look at alternatives like Lowe’s advantage card, amazon visa signature card, etc that have lower interest rates. I hope this article has helped you to see the aspects of the amazon prime store card.
FAQ:
1. How much fees does the Amazon Prime store card charge on late payments?
Ans- The Synchrony bank linked with Amazon to provide Amazon prime store cards to customers. They charge approximately $40 as a penalty on late payment and missing a period with that amount to be charged.
2. What is the interest rate of Amazon prime
store cards?
Ans- The interest rate provided in Amazon store prime cards stands at 26.24% which can also vary depending on different locations and prime rates.
3. How will I get rewards and cashback on
Amazon prime store cards?
Ans- To receive rewards, you have to purchase products during the late payment period and pay the sum at each installment period to receive cashback and certain rewards. You can directly purchase and also earn but it will be lower.
4. When can I stop payment on Amazon prime
store cards if I think it’s wrong?
Ans- You will have three business days before to complain and cancel any automatic payment. Further, they will receive your letter within 30 days and in 90 days they will correct any errors.
