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The Amazon Secured Card is an Amazon credit card that can only be used at Amazon.com and physical Amazon stores. It requires a minimum security deposit of $100 and will have an initial credit limit equal to the security deposit (up to $1,000).
This card is designed for Amazon shoppers who want to start building their credit history or repair their bad credit.
Quick Review
There are two versions of the Amazon Secured Card:
- Amazon Secured Card: The Amazon Secured Card is available to anyone who qualifies and pays the security deposit, regardless of Prime membership. It does not offer cashback rewards.
- Amazon Prime Secured Card: The Amazon Prime Secured Card is only available to active Amazon Prime members who qualify and pay the security deposit. It offers 2% cashback rewards.
The Amazon Secured Card can be a valuable asset to new borrowers who need to build a credit history or borrowers with bad credit looking to repair their score. As it has a $0 annual fee, a low fixed APR, a flexible credit limit, and the ability to upgrade to an unsecured card, the Amazon Secured Card is a decent option.
However, the card can only be used for Amazon purchases. As there are other secured credit cards available with a wider range of use, we only recommend this card to avid Amazon shoppers.
Here are the major pros and cons of the Amazon Store Card:
Amazon Secured Card Important Details
Basic Card Details
- Card issuer: Synchrony Bank
- Regular APR: 10% (fixed)
- Annual Fee: $0
- Minimum deposit: $100
- Credit limit: $100–$1000 (equal to your security deposit amount)
Additional Information
- Eligible for upgrade to unsecured Amazon Store Card after 12 months
- Security deposit is refundable (upon card upgrade)
- Special financing available
- Equal monthly payments financing plan available
- Credit reporting
- Free credit monitoring tools
Amazon Secured Card Feature Breakdown
Amazon Secured Card Use
The Amazon Secured Card can only be used at Amazon.com and Amazon physical stores. Unlike the Amazon Store Card, the secured card cannot be used for purchases made at Amazon subsidiaries.
Fees
- Annual Fee: $0
- Late Payment Fee: $5
Interest Rates
- Regular APR: 10% (fixed)
- Minimum interest charge: $1.50
One of the major benefits of the Amazon Secured Card is the low APR. At only 10%, carrying a balance won’t cost you as much in interest as with many other credit cards. However, the Amazon Secured Card is a card for building or repairing credit. If you’re trying to improve your credit score, we recommend against leaving a balance on your credit card.
Special Promotional Financing
Certain purchases made with an Amazon Secured Card may qualify for special promotional financing. Special promotional financing is a deferred interest program in which some products are eligible for 0% APR if paid off in a certain number of months.
Special financing is only offered on some products (which cost $150 or more) at Amazon’s discretion. The special financing offers are contingent upon you paying in full within a specified time frame, such as:
- 6 months
- 12 months
- 24 months
If you fail to pay the balance in full in the allotted time, you’ll be charged for the entire 6–24 months. So take advantage of this financing plan with caution, as you could end up paying months’ worth of interest.
Equal Monthly Payments
Another payment option offered by the Amazon Secured Card is a program called Equal Monthly Payments. This offer is only available on certain Amazon purchases; you’ll be notified whether or not you’re eligible at checkout.
Equal Monthly Payments is essentially a payment plan that works like this:
- The amount you owe is divided by the number of months designated by the offer. This result is your monthly payment (for example: $1,200 purchase / 6 Equal Monthly Payments = $200 each month)
- If you make your monthly payments, no interest will be charged.
- If you fail to make a monthly payment, Amazon will charge a late fee. This late fee may accrue interest.
- Equal Monthly Payment offers cannot be combined with special financing or cashback rewards.
The payment method may be worthwhile for cardholders who need help financing a large purchase. We recommend setting up automatic payments so you don’t forget to pay the monthly amount.
Rewards
The Amazon Secured Card doesn’t offer cashback rewards to non-Prime members. However, the Amazon Prime Secured Card offers cashback rewards at a rate of 2%.
Amazon Prime Secured cardholders will receive 2% cash back on eligible Amazon purchases.
Rewards are applied to your account as points, with 1 point equaling $1. You can redeem your rewards as savings on Amazon purchases, or as statement credit on your Amazon credit card bill.
Credit Reporting
The Amazon Secured Card is issued by Synchrony Bank (abbreviated SYNCB). Synchrony Bank reports credit activity every month to all three major credit bureaus: Experian, Equifax, and TransUnion.
Credit reporting is critical to building credit and raising your credit score, as this information is used to calculate your score. Lenders aren’t required to report to any of the bureaus, so cards that report to all three are especially good for credit building.
Note that activity on your Amazon Secured Card may show up on your credit report under the label SYNCB/Amazon PLCC.
Credit Monitoring
As mentioned, the Amazon Secured Card is marketed as a credit card for building or repairing credit. To help in that process, Amazon offers cardholders access to TransUnion CreditView™ Dashboard, where they can track their credit scores.
Customer Review
It’s worth noting that the Amazon Secured Card only has a 3-star rating on Amazon based on customer reviews. Many applicants have complained that although the card was advertised as an easy-to-get credit card for building or repairing credit, they were denied the card by Synchrony Bank.
If you’re considering applying for the Amazon Secured Card, we encourage you to read the customer reviews on Amazon to help inform your decision.
Should You Get the Amazon Secured Card?
FinanceJar verdict
You should only get the Amazon Secured Card if you’re a frequent Amazon shopper or Amazon Prime member with a low credit score.
If you’re looking for a card for which you can easily qualify and use to build or rebuild your credit score, there are many other options out there that have a wider range of use than the Amazon Secured Card.
Consider checking out our lists of:
Who is this card for?
- Amazon shoppers with limited credit: As the Amazon Secured Card can only be used for Amazon purchases, it’s only a good option for regular Amazon shoppers. If you’re frequently buying from Amazon anyway, this card can be a good addition to your credit holdings, especially if you’re just starting your credit journey.
- Amazon Prime Members with limited credit: If you’re an Amazon Prime member with a bad or limited credit history, this card can be a good resource for building your credit. Many cards available to low-credit holders don’t offer rewards programs, so you’ll get the added benefit of 2% back on Amazon purchases with this card.
Comparable Cards
Amazon Secured Card vs. Amazon Store Card
The Amazon Secured Card and Amazon Store Card are very similar. They’re both Amazon-branded cards issued by Synchrony Bank. While their benefits are very similar, including the same special financing and Equal Monthly Payments programs, there are four major benefits of the Amazon Store Card:
- The Amazon Store Card doesn’t require a security deposit, so opening an account won’t cost any money.
- The Amazon Store Card can be used at Amazon-owned locations, such as Audible, while the secured card can only be used to make purchases at Amazon.
- Prime members will enjoy a 5% rewards rate with the Amazon Store Card, as opposed to the 2% rate offered by the Amazon Secured Card.
- The Amazon Store Card offers a $60 Amazon gift card as a welcome bonus upon card approval.
We recommend the Amazon Store Card over the Amazon Secured Card. However, the store card requires a higher credit score to qualify. If you’re only able to qualify for the Amazon Secured Card, you’ll have the option to upgrade to the Amazon Store Card after 12 months of responsible card use.
Amazon Secured Card vs. Capital One® Platinum Secured Credit Card
If you want a credit card with a broader range of use, the Capital One® Platinum Secured credit card is a good option—even if you have a limited credit history or less-than-perfect credit score.
The Capital One® Platinum Secured card offers high approval odds, a low minimum security deposit (only $49), and a flexible credit limit. However, it doesn’t have a rewards program and comes with a steep APR of 26.99%.
