Amazon Corp Revolving - Beware!

[Bobbyjohnson]

Data point:  

The Amazon revolving credit line is pretty much useless to revolve a balance.

I carried a balance of about 6,500 on some new equipment purchases. I revolved balance thinking I would levergae the low 12.9%apr for cash flow reasons.

I was expecting around $70 interest payment (@ 12.9% APR)  + small principal payment (so lets say the total min due would be anywhere from $100-$175.)

NOPE.  They do charge 12.9% APR (so around $70 in interest) but the minumum payment is around $560!  They want the principal paid back FAST.

So they really, really don't want you carring a large balance.

Your better off putting the spend through a reward biz card. At least you'd get some points for the spend.

[peaceonearth]

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@Bobbyjohnson wrote:

Data point:  

The Amazon revolving credit line is pretty much useless to revolve a balance.

I carried a balance of about 6,500 on some new equipment purchases. I revolved balance thinking I would levergae the low 12.9%apr for cash flow reasons.

I was expecting around $70 interest payment (@ 12.9% APR)  + small principal payment (so lets say the total min due would be anywhere from $100-$175.)

NOPE.  They do charge 12.9% APR (so around $70 in interest) but the minumum payment is around $560!  They want the principal paid back FAST.

So they really, really don't want you carring a large balance.

Your better off putting the spend through a reward biz card. At least you'd get some points for the spend.

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Not only that.

If you carry balance for 3 or 4 Months they'll slash your CL.

[Anonymous]

Doesn't sound too appealing. I might have to rethink apping for that

[Anonymous]

Wow.. How exaclty is that bebeficial to businesses though?  That is appaling for a commecial credit line..