Amazon shoppers have access to two cards designed specifically for them – an Amazon store card and Amazon Visa credit card – both offering various great benefits such as 5% cash back and special financing offers.
Which Amazon store card should I choose from Synchrony or Chase? Both cards can only be used at Amazon; therefore, when making your decision. So which should you select?
Cost
As an Amazon customer, selecting an Amazon credit card may prove confusing. Amazon provides four cards that allow customers to earn rewards, segment spending and obtain financing options, but each differs in several key areas – particularly regarding whether it can be used anywhere Visa is accepted and whether there will be an annual fee associated with it.
Synchrony issues the Amazon store cards, while Chase issues an open-loop product called Visa card that can be used anywhere that accepts Visa. Amazon Prime Visa provides shoppers with a signup bonus and rewards which can be redeemed for cash, gift cards or travel. No annual fee applies but qualifying requires purchasing a $139 Prime membership (non-Prime members can earn up to 3% back).
Both cards offer attractive rewards and financing solutions from Amazon; which one you choose depends on your credit profile and shopping habits. Ideally, those with good to excellent credit may qualify for an unsecured Amazon Visa card from Chase; for those with lower scores however, secured Amazon cards will typically require upfront security deposits that can later be upgraded into regular Visa cards as your score improves.
If your credit profile is weak, Synchrony Amazon store cards might be best as they typically require lower credit score requirements than many traditional lenders. Even people with the worst of credit histories can sometimes qualify for an unsecured Amazon Store Card from Synchrony with just a minimum deposit of $500; making this an effective way of building credit and moving on to better cards in time.
Benefits
If you’re an Amazon customer, having either an Amazon store card or Amazon Visa credit card could help you earn rewards and segment purchases more easily. But before applying, it is essential that you understand both its benefits and requirements, as well as any impact a new card might have on your credit score.
There are two primary Amazon cards: the Amazon Prime store card and Visa card issued by Synchrony Bank. Both offer various benefits such as special financing options and exclusive offers; however, these two products differ in several key ways; the former caters specifically to Prime members while offering better deals and higher rewards rates; whereas, non-Prime shoppers might prefer using Visa card instead; both offer similar financing and deferred interest promotions but with no annual fee involved.
Both cards offer special financing options and free shipping of thousands of items, which makes them appealing to any Amazon shopper. Both also provide purchase protections and can easily be used online or in-store; the Amazon Visa card stands out by offering more perks than its Prime store counterpart, including offering a 2% cash back rate at U.S. restaurants, gas stations, and wireless telephone services as well as no foreign transaction fees or annual fees – it can even be used worldwide wherever Visa is accepted!
Though Amazon store and Visa cards provide many benefits, they might not be ideal for everyone. New shoppers or those with limited credit histories may find it more difficult to be approved for one. Furthermore, most store cards report back to major credit bureaus which could have an adverse impact on your score.
Store cards generally tend to have lower credit requirements than typical credit cards, making them an excellent way for consumers who wish to improve their scores but haven’t managed yet. Furthermore, store cards typically offer lower APR than comparable cards; so if your score is low it would be wiser to focus on applications for cards with greater chances of approval rather than expanding your search pool further.
Requirements
If you are an Amazon shopper, both cards may appeal to you; it’s important to understand their differences though. Once you determine the ideal card for your shopping habits and credit profile, then select either Synchrony’s Amazon Store Card or Chase’s Prime Visa card from Synchrony’s or Chase’s offerings.
Synchrony Bank’s Amazon Store Card is a closed-loop card designed specifically for purchases on Amazon, with promotional interest-free financing options including Equal Pay and deferred interest available across various timeframes and minimum purchase amounts. Furthermore, rewards such as cash back can be redeemed against cash back gift cards, making this an excellent choice for Prime members looking to maximize their Amazon rewards while being subject to an annual fee of $139.
By contrast, the Amazon Visa Card is an open-loop card that can be used anywhere Visa is accepted. Its benefits are much more generous than those offered by Amazon Store Cards, such as cash back and travel benefits. Furthermore, Prime Visa can help non-Amazon shoppers achieve both Amazon rewards and a higher credit score.
To qualify for an Amazon Visa card, a good or excellent credit score will be necessary. If your score falls below this threshold, however, a secured version of the card may be issued instead as you work toward building up your history and establishing positive payment patterns – this secured version requires a minimal security deposit but can later be converted to regular status once established.
For consumers with poor credit, Synchrony’s Amazon Store Card may be the optimal solution. This card caters to consumers trying to build or repair their credit, and may provide more favorable approval odds than the Amazon Visa cards issued by Chase. Prequalify online in seconds!
Conclusions
Amazon store cards and Amazon Visa credit cards offer rewards-driven shoppers looking for ways to maximize rewards opportunities with each purchase. Which card best fits you depends on your shopping habits, credit score and whether or not you are a Prime member; Synchrony and Chase both provide different versions of their cards depending on whether or not someone meets certain membership requirements; their application processes will help guide them toward finding one suitable to their situation based on Prime membership status; this should make optimizing rewards opportunities much simpler than without it.
Amazon store cards and Amazon Visa credit cards both offer various benefits, including free shipping, exclusive offers, purchase protections and low minimum purchase requirements – some even come with no interest payments if made on time! However, the Amazon Visa cards offer higher average rewards rates as well as better financing terms, including Equal Pay and Special Financing.
Amazon store cards and Visa credit cards differ from store-only cards in that they can be used anywhere Visa is accepted – unlike closed-loop store cards which may only be accepted at specific retailers. Furthermore, qualifying for these cards may be easier than other credit cards making them an excellent way to build or rebuild credit history.
Amazon Rewards Visa Signature Card is an outstanding credit card option for both Prime members and nonmembers alike, offering a high average rewards rate across all expenditures made across retailers – not just Amazon itself. Also, this card doesn’t impose an annual fee and offers exclusive offers and travel benefits, in addition to equal pay and special financing – two popular financing terms for credit cards. The Prime Rewards Visa card is another excellent choice for Amazon shoppers, offering 5% cash back when spending at Amazon and Whole Foods plus 2% on other purchases. In addition, this card features various other perks, such as sign-up bonuses and an introductory period during which bonuses can be earned on all purchases made during that period.