Amazon Buisness 55 Day Line of Credit

[triplettomy]

Anyone applied for this or currently have the Line of Credit. Curious as if its worth it as Im looking for some options for buisness with no PG. Currently have Business Prime Amex but nothing else Amazon Business Thanks in advance 

[Five6Two]

I used to have it, was useful when you wanted a few weeks to make payment. From my experience, I was only able to make payment by remitting check through mail. Things may have changed now, but I am almost certain there is no credit card payment option so you're not really gaining points/rewards through this method. Still useful though if you want a few weeks to pay off a purchase. I do not recall it reporting to any major CRAs. 

[SouthJamaica]

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@triplettomy wrote:

Anyone applied for this or currently have the Line of Credit. Curious as if its worth it as Im looking for some options for buisness with no PG. Currently have Business Prime Amex but nothing else Amazon Business Thanks in advance 

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I have it. If you buy stuff for your business on Amazon it's fine. A no hassle operation.

After shipping they send you an invoice and you have 55 days to pay it. Has to be paid from bank account, not credit card.

I hardly ever use mine, but they never closed it or lowered the credit limit.

[triplettomy]

Do you have yours as a no PG.  I would only try to use it once and a while but it would help.  

[SouthJamaica]

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@triplettomy wrote:

Do you have yours as a no PG.  I would only try to use it once and a while but it would help.  

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Yes. No personal guarantee. They didn't ask for one.

[104848]

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@Five6Two wrote:

I used to have it, was useful when you wanted a few weeks to make payment. From my experience, I was only able to make payment by remitting check through mail. Things may have changed now, but I am almost certain there is no credit card payment option so you're not really gaining points/rewards through this method. Still useful though if you want a few weeks to pay off a purchase. I do not recall it reporting to any major CRAs. 

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amazon net55 reports on EQ Biz 

2 months to pay a bill is certainly useful for any small business 👍🏾

but yeah, for some reason Amazon wants a check... even though i would use WF bill payment service, they still would print/mail a physical check while the others are electronically paid in 2 days... 🤷🏾‍♂️

[shaimesh]

Just got my break up letter from amazon credit line & synchrony bank today.  They are not longer married and all our credit lines go away Jan 2023.  This so sucks w/o an alternative.  RIP my amazon credit line $4500 

[SouthJamaica]

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@shaimesh wrote:

Just got my break up letter from amazon credit line & synchrony bank today.  They are not longer married and all our credit lines go away Jan 2023.  This so sucks w/o an alternative.  RIP my amazon credit line $4500 

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Yes just got my letter too.

I didn't realize this had to do with Amazon & Synchrony parting ways. Possibly Amazon will be offering a replacement LOC.

[TryItAgain]

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@shaimesh wrote:

Just got my break up letter from amazon credit line & synchrony bank today.  They are not longer married and all our credit lines go away Jan 2023.  This so sucks w/o an alternative.  RIP my amazon credit line $4500 

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Got my letter too =( oh well, what can ya do.

[SouthJamaica]

Silly me, I never actually considered it as a "line of credit", because it's just a Net 55 account.

To me a "line of credit" is something that revolves, and lets you carry a balance. I don't consider Net 30's and Net 55's as a "line of credit".

When I first heard that Amazon was ending its "line of credit" I thought to myself "well I never even knew they offered a line of credit, I guess they're just going to go with the Net 55's".