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Amazon Prime Store Card Credit Builder

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Amazon Prime Store Card Credit Builder

Anyone notice this from Amazon... not seen anyone post on it but forgive if its been covered before.  Seems single app gets you reviewed for the normal store card, then if not approved considered for a secured version.  Wondered if anyone has tried and selected for the secured version Smiley Happy

 

JD

~JD
Message 1 of 62
61 REPLIES 61
Community Leader
Super Contributor

Re: Amazon Prime Store Card Credit Builder

Ive never heard of this nor seen it here on myFico. If true please be prepared to be Legendized as the myFico masses swarm to get it ( those rebuilding that isSmiley Wink
Message 2 of 62
Contributor

Re: Amazon Prime Store Card Credit Builder

Haha well that would be awesome, but would be happy if this helps anyone with their rebuilding path.  Just visit the section for Amazon credit cards, and click on the "See Card Details" and it will show ya as below.  I am not sure if its just for Prime, but I think in the FAQ it states a regular and Prime.  Secured seems to be exact same thing, except you mail in the deposit, and in 7 months a possible review to unsecure and return of the deposit.  Can check out the FAQ on the page to learn more.

 

Again, hope this helps and share your success if you decide to try it! Smiley Happy

 

Amazon card.png

 

 

~JD
Message 3 of 62
Senior Contributor

Re: Amazon Prime Store Card Credit Builder

That’s an interesting idea for a secured card. 


Scores 1/2019:
Scores 8/2019:

Hover over my cards to see my limits!
Goal cards:
Message 4 of 62
Valued Contributor

Re: Amazon Prime Store Card Credit Builder

Full terms:
https://www.synchronycredit.com/consumereApply/Internet/amazon/en/combo/pdf/TermsConditions.pdf

 

They allow for graduation, too, like the marketing page shows, though it is Synch...

 

You will be assigned a credit limit equal to the amount of funds you deposit in the security deposit account as described in Section V of this Agreement, and that amount will be at least $100 and no more than the credit amount for which you are approved. If we inform you that Section V of this Agreement no longer applies to your account, then you will be assigned a credit limit that we may increase or decrease from time to time.

[...]

If we determine that you qualify for return of any funds from your security deposit account, we will return these funds to you by any method we deem sufficient, including by first crediting the funds to your account.


TU FICO 8: 741 (7/19) — Ex FICO 8: 739 (7/19) — Opinions are my own and not the views of my employer
Message 5 of 62
Senior Contributor

Re: Amazon Prime Store Card Credit Builder

It’s a pretty awesome deal since 5% back on Amazon includes gift cards... it’s potentially an extremely lucrative card. 


Scores 1/2019:
Scores 8/2019:

Hover over my cards to see my limits!
Goal cards:
Message 6 of 62
Established Contributor

Re: Amazon Prime Store Card Credit Builder


@GrasshopperStudent wrote:

Full terms:
https://www.synchronycredit.com/consumereApply/Internet/amazon/en/combo/pdf/TermsConditions.pdf

 

They allow for graduation, too, like the marketing page shows, though it is Synch...

 

You will be assigned a credit limit equal to the amount of funds you deposit in the security deposit account as described in Section V of this Agreement, and that amount will be at least $100 and no more than the credit amount for which you are approved. If we inform you that Section V of this Agreement no longer applies to your account, then you will be assigned a credit limit that we may increase or decrease from time to time.

[...]

If we determine that you qualify for return of any funds from your security deposit account, we will return these funds to you by any method we deem sufficient, including by first crediting the funds to your account.


then you will be assigned a credit limit that we may increase or decrease from time to time.  LOL!

 FICO 8
Message 7 of 62
Moderator

Re: Amazon Prime Store Card Credit Builder

Very cool concept to capture those who previously didn't qualify by traditional means or for those in the underserved market.  So, for those who don't meet Chase's UW criteria, this is definitely a good (SYNCB) option.

Message 8 of 62
Moderator

Re: Amazon Prime Store Card Credit Builder


@FinStar wrote:

Very cool concept to capture those who previously didn't qualify by traditional means or for those in the underserved market.  So, for those who don't meet Chase's UW criteria, this is definitely a good (SYNCB) option.


+1

 

Years ago when I was still in credit purgatory this would have been a fantastic option... hopefully we'll get some data points soon from someone who has the secured version.  Smiley Happy

Message 9 of 62
Senior Contributor

Re: Amazon Prime Store Card Credit Builder


@FinStar wrote:

Very cool concept to capture those who previously didn't qualify by traditional means or for those in the underserved market.  So, for those who don't meet Chase's UW criteria, this is definitely a good (SYNCB) option.


Well the Sync unsecured card has always been a good option regardless of Chase UW criteria since you can get deferred financing on any purchase $149 and up and Sync comes out CLIs like they’re going out of style. 

 

I will always tell people to get the Sync version over the Chase version unless they don’t spend much at Amazon. 

 

The secured card is a great idea though but I wonder what credit scores Sync is targeting - they aren’t exactly picky with the Store Card to begin with. 


Scores 1/2019:
Scores 8/2019:

Hover over my cards to see my limits!
Goal cards:
Message 10 of 62
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