Should you get the Amazon credit card? As a cardmember of over 5 years, here’s my personal review of their credit card so you can know the pros and cons.

photo of Chase Amazon credit card
How many times during checkout have they tried to peddle you their rewards card? The signup promotion for a $30 discount is hardly exciting, nor is the rewards program. Why? Because ironically, there is a different credit card that can earn you a higher rebate on Amazon.com purchases (more on this in a minute).

The raw numbers behind the rewards…
  • Standard purchases are given 1 point per dollar
  • Purchases at gas stations/drugstores/restaurants are at 2 points per dollar
  • Lastly, Amazon.com spending earns 3 points per dollar
Since 100 points = $1 credit towards future purchases, that means the Chase Amazon rewards card is essentially giving 1% normally, 2% on those 3 categories, and 3% on Amazon.com.

What’s wrong with this picture? The truth of the matter is the rewards fail miserably when compared to the Citi Forward, a card that gives 5x points at bookstores. Since it counts Amazon as a bookstore, that means you can earn a 5% rebate versus the 3% given by Amazon’s own credit card from Chase. To learn more about the Citi Forward go here.

So it’s not that their credit card is downright bad, but rather the rewards are just inferior when you compare it to the Forward. And at the end of the day, aren’t rewards the whole reason you and I use credit cards in the first place?

Note: There is also an Amazon store card issued through GE Capital Retail Bank, but it offers no rewards (it basically just offers deferred interest financing on some larger purchases).

The rates and fees…

Obviously reward cards are a bad idea for carrying a balance since their rates tend to be higher than non-reward cards. However in the event you can’t pay your bill in full, as I write this review the rates were as follows:
  • 18.24% or 21.24% for those given the platinum card
  • 13.24% for those given a Visa Signature
Are these good or bad? Well I wouldn’t say these are awful, as they’re pretty middle-of-the-road considering the card type. But obviously the finance charges from these types of rates would quickly trump the rebate you would be earning.

On the other hand, the store credit card from Amazon has excessive interest rates to say the least! When I pulled up the application this is what was listed:
GE Amazon card interest rate

Paying that AND there are no points earned?! If you’re going to apply for an Amazon credit card I see little reason to go with this one. My guess is it’s probably for people with lower credit scores who can’t get approved for their regular card. If you were thinking about it to finance a purchase, think twice because it uses DEFERRED interest. You would be better off with a regular credit card deal that gave 0% on purchases and balance transfers instead.

I suppose the only silver lining for this category is that neither of their cards charge an annual fee.

The benefits (or lack thereof)

As far as the GE store credit card is concerned, there are really no noteworthy benefits worth mentioning.

When it comes to the Chase Amazon credit card, the platinum tier will basically just come with your very basic Visa benefits such as auto rental collision damage waiver, which is secondary coverage on eligible rental vehicles. Aside from that, there’s not much worth mentioning.

For the Signature tier, there are a few extra bells and whistles thrown in such as lost luggage reimbursement, purchase security (up to $500 coverage on new purchases for theft and a few types of damage), common carrier travel accident insurance, phone concierge, etc. You will get these benefits on all other Signature tier credit cards, too.

Verdict? The Amazon card’s benefits are nothing to write home about.

What should you do?

Should you get an Amazon credit card or not? Is it a good choice? Easy to get?

As far approval is concerned, getting approved for the store card will be probably be somewhat easy even if you have mediocre credit. With their normal credit card, the requirements will be higher. I would estimate the minimum FICO score to be approved would be in the high 600’s for the platinum. To get the Signature, probably a minimum of low to mid 700’s. But the Forward card is also pretty easy to qualify for, so if you only have average credit I see no reason to settle for the sub-par rewards on Amazon.

Ultimately after reading my review of the Amazon card, you may be wondering why do I still have the card myself? Well simply put, because I opened it 7 years ago (2005) the reason I keep it open is because it looks good on my credit report since it’s an older account. I would not recommend anyone apply for it now.

My recommendation: Earn 5% on Amazon.com using the no annual fee Citi Forward