secured amazon credit card reddit - Brave Search

Thoughts on Synchrony Bank Amazon Secured Card?

reddit.com › r › CreditCards › comments › 1ak44nh › thoughts_on_synchrony_bank_amazon_secured_card

So for a year, use most of your credit line. This is to convince the bank that you actually do need more credit. Pay it off in full every month. Always do this. After that year, if they don't raise your limit, it doesn't matter. You'll have built up your credit score enough to apply for a normal unsecured credit card. You might want to do this anyway, get one that gives points or cash back. That second card, and subsequent ones, will have higher credit limits. At that point, you do not have to use the whole credit line. In fact, you shouldn't. For your credit score to improve now, you'll want to keep your utilization low. 10, maybe up to 30 percent is fine. Again, never charge more than you can pay off immediately. Pay the full statement balance every month, without fail. Answer from katmndoo on reddit.com

reddit.com › r/creditcards › thoughts on synchrony bank amazon secured card?

r/CreditCards on Reddit: Thoughts on Synchrony Bank Amazon Secured Card?

February 6, 2024 -

This was 1 of the cards I signed up for a few months ago to build my credit and I kinda regret it.

I need to wait a year for it to potentially graduate and I only put $200 on it. So I could be wrong but from what I've read if I graduate to their regular Amazon Store Card they'll keep me at the same $200 CL. I also think the Amazon Prime Chase Card seems way better.

Anybody have experience with this card?

So for a year, use most of your credit line. This is to convince the bank that you actually do need more credit. Pay it off in full every month. Always do this. After that year, if they don't raise your limit, it doesn't matter. You'll have built up your credit score enough to apply for a normal unsecured credit card. You might want to do this anyway, get one that gives points or cash back. That second card, and subsequent ones, will have higher credit limits. At that point, you do not have to use the whole credit line. In fact, you shouldn't. For your credit score to improve now, you'll want to keep your utilization low. 10, maybe up to 30 percent is fine. Again, never charge more than you can pay off immediately. Pay the full statement balance every month, without fail.

It’s fine for what it is. A tool to build a credit history. Ultimately, you’re going to grow out of it. I personally wouldn’t graduate to the Store Card if you are eligible for the Prime Chase. Are you particularly using this for the Amazon benefits or do you have a particular goal/need in mind beyond building a history?

reddit.com › r/credit › amazon secured credit card

r/CRedit on Reddit: Amazon secured credit card

May 17, 2024 -

I accidentally stumbled on Amazon secured credit card. They have a normal and prime version. The prime version gives you 2% cash back. Interest is only 10%. You can deposit from $50-$1000 in $50 increments. Great way to build credit with no inquiry pulled (according to synchrony). You can access it at https:Amazon.com/securedcard

I’m not affiliated with Amazon. Just thought this was cool so I wanted to spread the word to those that want to build or rebuild their credit.

Interest is only 10%. If people use credit cards the right way (paying their statement balances in full monthly) then interest rate is rendered irrelevant. One doesn't need to pay a penny to "build credit" and that misconception needs to be corrected any time it comes up.

They do check credit!

Videos

Amazon Secured Card Review - YouTube

February 8, 2022

Amazon Credit Cards - Prime Visa, Amazon Store Card, Amazon Secured ...

November 30, 2023

Amazon Secured Store Credit Card 💥💳 #creditcard #badcredit ...

December 10, 2022

Amazon Secured Card - Amazon Secured Store Credit Card Review - ...

January 16, 2022

Review of Amazon Secured Credit Card - YouTube

reddit.com › r/creditcards › anyone have the amazon secured card?

r/CreditCards on Reddit: Anyone have the Amazon Secured Card?

October 28, 2022 -

I am interested in getting this in addition to my Discover Secured Card. I spend a ton on Amazon so it seems like a no Brainerd for the cash back. Would anyone recommend this card? The only downside is that it's attached to Sychrony Bank which people seem to dislike.

Do not get 2 secured cards.

I take it you’re new to credit? Or are you rebuilding? If you’re new to credit, use the Discover card for 6 months, wait for a FICO score to generate and then apply for the unsecured Amazon store card. If you wait a year instead, then apply for the Chase amazon prime card. I say this because I’m not sure on when/if the secured Amazon card will graduate to an unsecured card. Your money may be tied up for quite a while, but if you just wait a bit to apply you can start with an unsecured card from Amazon.

reddit.com › r/creditcards › amazon secured card worth it?

r/CreditCards on Reddit: Amazon Secured Card Worth it?

September 29, 2024 -

Hello (19m) never had a credit card before but I know it’s important too have good credit. I have applied to my banks credit cards but was denied so I tried the amazon secured card & was approved but I haven’t made a deposit yet.

If anyone knows is this a good choice for a beginner card to build credit up?

Also some questions I have

Can I use the card if I don’t have Amazon prime?

Is there any hidden fees I should be worried about?

How does the deposit work? (From what I read is, I put a $250 limit from my debit card to the Amazon card but then if I buy something for $20 with the Amazon card then I pay it back. But why am I paying the money back that I put on the card?)

You applied for a secured a card, which is a type of credit card for people who need to rebuilt credit, but can also be used for students who want to build their own credit history. That $250 is a security deposit that becomes your credit limit. If you fail to make any payments on time, the bank will take that money from the deposit as insurance. Eventually if you show yourself to be trustworthy enough with making your payments on time, your card will turn from a secured card to a regular credit card and you'll be refunded that money. In this case, it seems the Amazon Secured will convert to a regular card if you show 12 months of responsible use. No hidden fees, just make you pay it off on time and it's highly recommended you stay under 30% of your credit limit, thought I'm not entirely sure about this. I think it's just more about having a good spending habit. I wouldn't have chosen this as a good beginner card since you get zero benefits unless you have Prime, and even then it's only 2% for spending on Amazon. The top 3 that I see recommended the most are the chase freedom rise (1.5% on all purchases), Discover Student it (5% randomized categories, unlimited cashback match for your first year), Capitol One Savor Student (3% on dining, groceries, entertainment, streaming services). Since you're under 24 (idk if you're a student), you can get the Amazon Prime Student Discount which offers the first six months free then a discounted subscription price. I think you should just get it for the 6 months free, then cancel if you don't want to pay. If you're a student, then I would've recommended the Discover Student IT Cashback, it's what I have right now. Their current category for november and december was offering 5% cashback on amazon lol, but since you're just getting started with building your credit, I think you should wait at least six months before trying to apply for another card. One last thing is I would be careful about Synchrony bank which is the bank that issues your Amazon Secured. I never used them or any of their products before, but it looks like people really don't like them, so beware of that. Also, what bank do you use if I may ask?

reddit.com › r/creditcards › amazon secured card vs store card

r/CreditCards on Reddit: Amazon Secured Card vs Store Card

December 8, 2022 -

Got an email from amazon(posted below). I am having a hard time seeing the difference between the cards besides the no security deposit and 5% back instead of 2%. Higher APR and higher late fee. Is this the next step I should be taking or should I build my credit more with the secured card? Any advice is greatly appreciated, thanks!

You've taken great steps towards building your credit and you're now eligible to activate the Store Card features of your Amazon Secured Card or Amazon Prime Secured Card! Activating the Store Card features will not result in a hard inquiry on your credit report. Before you decide, please review this table.

Secured Card features (current)

Security deposit: Yes

Prime rewards: 2% back on Amazon purchases
Annual fee: $0
APR: 10% Non-Variable
Late fee: Up to $5

Store Card features

Security deposit: No

Prime rewards: 5% back on Amazon purchases
Annual fee: $0
APR: 28.99% Variable
Late fee: Up to $38

It sounds like the Amazon Store Card is an unsecured credit card, meaning you won't have to put down a security deposit in order to open the card. This is different from the Amazon Secured Card, which requires a security deposit. The Store Card also offers a higher rewards rate for Amazon purchases, giving you 5% back compared to the 2% back offered by the Secured Card. However, the Store Card also has a higher APR (annual percentage rate), which is the interest rate you will be charged on any unpaid balances. The Store Card also has a higher late fee, which is the penalty you will be charged if you make a payment after the due date. Overall, it seems like the Store Card is a good option if you are looking to upgrade from your Secured Card and don't want to put down a security deposit. However, you should carefully consider the higher APR and late fee before deciding whether to upgrade. It may be worth building your credit further with the Secured Card before making the switch.

APR and late fees shouldn’t matter if you are paying in full and also trying to maintain a positive history for credit building. Late fee cost should literally not matter at all. Also, one should be paying in full unless you’re taking advantage of a 0% APR promo (the Amazon card offers this for larger purchases), so APR shouldn’t matter either. I would personally take the unsecured card and get my money back from the security deposit. Graduating a secured card to an unsecured card is a good thing.

reddit.com › r/creditcards › amazon secured card help!!

r/CreditCards on Reddit: Amazon Secured Card Help!!

January 3, 2024 -

Hey y’all! I just wanted to see if anyone else has any clue about this issue as the Internet has not went over this for some reason. I recently got approved for the Amazon secured card which allows for partial payments aka pay in 6. On the website it states that I’m able to use this card as soon as it’s approved, however I attempted to use it and the purchase keeps saying that it needs to be revised as there are no funds, even though to open the card up you need to put down a payment of at least $100. For context the item I want would come out to a very nice total of $590.18 but in 6 monthly payments it’s about $98, Meaning the original deposit of $100 should work! Unfortunately it doesn’t, it also doesn’t tell me anything and neither does their customer service. I’m not sure if I have to wait for a card to be received via mail and activate it that way although it never said there would be one and when I would receive it, or if the item is priced to high which doesn’t make any sense to me. It won’t say why even though it stated I was able to start using it upon approval. If that isn’t the case then it is a very misleading statement, it also doesn’t allow me to deposit any extra funds(yet), says the account balance is $0, and no real way of telling me if I have to do something first or just wait, I’m just supposed to find out eventually I guess. If any of you guys have used this before please spare me some details on your behalf. Thank you Internet.

Huh, good question. Are you sure you can use it to buy an item worth 6x your secured limit? I would be surprised if that's possible because that is like paying Amazon $100 for a $600 item and then giving them a $500 IOU. With that said I have never held this card so anyone with direct experience will know more.

So the pay in 6 is for interest so with typical credit card purchases you would pay interest on the balance you carry, for Amazon you would be able to purchase the item interest free if you pay it off in 6 months. So you would still need to have enough credit on the card to cover the purchase; however, you wouldn't have an interest accrual if you pay it off in the 6 months. Hope that helps.

reddit.com › r/creditcards › questions about amazon secured card

Questions about Amazon Secured Card : r/CreditCards

November 20, 2022 - They are either not billing the entire amount to the card, they are raising your limit, or they are allowing the transaction to post, but they will report you as over limit to the credit bureaus, which will trash your score even more than it is already trashed if they are only giving you a $100 secured limit. Since you already put the transaction through, can't you just go online and see how it posted? more replies More replies More replies More replies More replies ... The first plan I mentioned, was before I was even approved for a card. That was just a direct offer from Amazon to make payments.

reddit.com › r/creditcards › amazon secured to unsecured, hard pull?

r/CreditCards on Reddit: Amazon secured to unsecured, hard pull?

June 10, 2024 -

I have a 3 or 4 year old Amazon prime secured card. I have plenty of better cards but just received an email congratulating me and that I could request a unsecured card.

I was planning on getting the chase version of the card for Black Friday for the bonus but it seems the synchrony also gives me 5% off these days.

I don't use that card for anything other than to pay the $6 monthly prime.

Would accepting it show a new account opening on my credit reports?

go for the chase visa.. i think you can see if your preapproved

The secured card is synchrony, and the visa is chase, so you'll definitely end up with a new HP and new account on your credit profile. If you upgrade to the unsecured synchrony card, then you shouldn't have a new account. I'm not sure about a HP, but don't worry about it. HPs are a part of the game.

Find elsewhere

Google Bing Mojeek

reddit.com › r/personalfinance › amazon secured credit card a good idea?

r/personalfinance on Reddit: Amazon secured credit card a good idea?

May 6, 2024 -

Looking to build my credit, and I order from Amazon a LOT. 10%APR and no annual fees seems enticing, is there anybody who has experience/advice on this or others? I’m looking at secured cards from Discover, OpenSky, Citi, and U.S Bank, but they all either have high APR or annual fees. TIA

I would try Discover or Citi. That's assuming you can't get approved for a basic unsecured card... Discover is usually a good option.

APR means absolutely nothing if you’re paying it off on a monthly basis, so don’t worry about that as much. Go with the high APR over annual fees if you feel like you’re in control of being able to pay off the balance monthly

reddit.com › r/creditcards › is the amazon credit card worth it as a first card?

r/CreditCards on Reddit: Is the Amazon credit card worth it as a first card?

February 9, 2025 -

I am looking to get my first credit card. I am 23 and have survived perfectly fine but wanted to build some credit aside from paying on my student loans.

I have looked into a handful of cards and am leaning towards the Discover card or Amazon card. I have an Amazon prime account already.

I use Amazon fairly regularly but I can’t tell if the Amazon card would restrict me too much or if it would fit me. I will take any other advice on different credit cards though.

Secured Credit Card. Made for building credit.

If you have Prime and can get accepted, it'd be a great card. A few noteworthy points: 5% cashback on Amazon 2% cashback at restaurants, gas, and transit rideshare. 3% is easily findable, but for a 1st card, this isn't a bad start. There are no foreign transaction fees. I agree with the other poster that some companies target young first-time credit users more often and are easier to get accepted. Their business model is taking more risk upfront, but getting some people who will get 1 credit card with low rewards and never think about it and use it for life. Discover is well known for this, making it a great entry-level card to build credit for a year or two. Another 2 starter cards to consider are: Capitol one Savor. 3% cashback at dining & groceries and streaming is exceptional. Amex Blue Cash Eveeyday. 3% cashback for gas, grocery, and online shopping. Online shopping can be used at Amazon, and while 2% less than Prime card's 5%, it can be used everywhere else you shop online l.

reddit.com › r/personalfinance › did anyone use amazon’s secured card to improve their credit score?

r/personalfinance on Reddit: Did anyone use Amazon’s secured card to improve their credit score?

April 11, 2023 -

I’d like to know if anyone has had success increasing their credit score using this method.

I’m wanting to significantly increase my credit score in the next 4-5 months if possible from 539 to as close to 630 as possible.

Aside feom paying down current debt, I thought I’d see if a secured card could work faster. I’m thinking of opening one with Amazon and start with 600$ and pay off my balance every month, etc.

Thoughts?

A new credit card is more likely going to temporarily hurt your credit than help it. Credit takes years to build. You won’t do this in 5 months.

As long as you don't max it out a make payments on time it will help you build credit in as little as 3 months but how much is hard to tell.

reddit.com › r/creditcards › got a secured amazon store credit card and i can't even use it when amazon says i should be able to

r/CreditCards on Reddit: Got a secured Amazon store credit card and I can't even use it when Amazon says I should be able to

June 9, 2024 -

I just funded the card six hours ago and Amazon said I should be able to use the card well I went to order something and the card is rejecting the transactions due to insufficient funds I don't know what to do here

6 hours ago? it takes time for the card to arrive and you need to activate

It’s so wack you can’t even buy something costing 1 $more than your credit limit . They don’t take 2 methods of payment. They won’t take a gift card you bought from them and take the rest from your secured card that never graduated in 2 years . What do you need them for ? I have other cards that I use to buy stuff from Amazon I’m thinking it’s best I close it I get charged returned payment fee now that I got in trouble at my bank . SMH

reddit.com › r/creditcards › amazon secured card increase limit?

r/CreditCards on Reddit: Amazon Secured Card increase Limit?

June 10, 2024 -

I have the Amazon secured card with a $100 initial deposit. I thought when I applied it said I can deposit more money and increase my limit. But when I try to do that there is no prompt to on Amazon app or synogy Amazon app. Does anyone know if you can add more or not?

How long have you had the card, also, did you call customer service to inquire about a credit line increase?

reddit.com › r/creditcards › amazon secure credit card monthly minimum payment?

r/CreditCards on Reddit: Amazon Secure Credit Card monthly minimum payment?

May 31, 2025 -

Hi,

I am so confused reading posts about this card. If you put $100 on the secured card and use it on Amazon, I see advise to pay the balance off... you put the money on the card, what is there to pay off? I didn't think you could "charge" things but pay against what you put on it for the security?

2nd - how is there a minimum monthly payment? If you put $100 on the card, use that $100 on Amazon and then pay a monthly on top of that, aren't you just shelling out extra money each month? Why do you have a monthly payment on top of the money you added to the card? This makes no sense to me. Can someone please clear that up because I want to use this card as it will help me. Thanks in advance.

The way a secured card works is you give them money that they hang onto. That amount then becomes your credit limit. That money isn't used to cover things you purchase, it's just a security deposit. If you make any purchases on the card then you still have to make a payment to cover that purchase. Your purchases aren't covered by the security deposit.

reddit.com › r/creditcards › is the amazon credit card worth getting?

r/CreditCards on Reddit: Is the amazon credit card worth getting?

August 22, 2024 -

I normally use my chase freedom, sapphire or Citi costco card to make all my purchases. But I saw an ad on amazon that the credit card they offer gives you 5% off all purchases is it worth it? I normally don’t keep a balance on my credit cards and pay them off before the end of the month so APR isn’t an issue for me.

I suggest the Wells Fargo Attune. Amazon codes as a bookstore, so unlimited 4x there and so many other categories.

If you are a prime member and are planning to be for the foreseeable future its a no brainer. You'd be paying 5% more across the board without it. If you don't want to pay for prime and just shop occasionally without it, the AMEX Blue Cash Everyday has 3% back on online purchases with no AF.

reddit.com › r/creditcards › amazon secured store card deposit

r/CreditCards on Reddit: Amazon secured store card deposit

March 2, 2023 - Before literally a month ago you could go unto amazon site fill out an app and they would allow you to add to your security deposit. Now i dont see that opition anymore. Share ... Just don't get a store card. They are worthless. Get the actual Amazon cobranded credit card with chase.

reddit.com › r/creditcards › what are the requirements for the amazon secured credit card?

r/CreditCards on Reddit: What are the requirements for the Amazon Secured Credit Card?

July 31, 2022 -

I want to get my life back in order by rebuilding my credit. You see when I was younger I made some stupid decisions and now I have bad credit and some collections. the majority of my collections are paid off but they've all asked for proof that I paid them off with the company before they removed it from my credit report and I do have proof. Anyway, I wanted to know before I apply for the Amazon Secured Credit Card what are their requirements for applying?

The secured line is for people with thin credit. No bad credit. If you have just 1 CC had that for a few months, then you probably would get approved.

But if you have bad history on your credit file. Then your chances are very low.

reddit.com › r › amazon › comments › c0egeb › amazon_launches_new_secured_credit_card_for_those

r/amazon - Amazon launches new secured credit card for those with bad or no credit

July 18, 2016 - Don't actually have to be a student to get it and it's a great first card to help build your credit. ... I am not a bot and this action was performed manually. ... Comment deleted by user · 4 yr. ago ... All things Amazon: Amazon.com, Amazon Prime, Prime Video, AWS, Kindle, Echo, and more!

amazon.com › Synchrony-Bank-Amazon-com-Secured-Store › dp › B084KP3NG6

Amazon.com: Amazon Secured Card

With the card you will also have access to your credit score, along with tools, guidance and tips to help you improve your credit. This unique account initially requires an upfront deposit like a secured credit card, but will provide you an opportunity to convert into a traditional credit card with no deposit required, based on responsible credit usage and eligibility criteria.

reddit.com › r/personalfinance › amazon secured card & multiple cards

r/personalfinance on Reddit: Amazon secured card & multiple cards

August 11, 2019 -

Is the amazon secured still a good option for building credit with a 497 score?

Also do multiple secured cards (discover) if all is normal and paying nothing crazy, will it all help my score? Or is having other cards bad? If not is their a limit on how many secured cards to have?

My logic would be if 1 is good then 10 should be great. Any help appreciated

You may find these links helpful:

Credit Building
Credit Reports
Credit Scores
Credit Cards

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

The biggest risk is keeping track of all the cards, one late payment can more than negate all the 'goodness' of the extra card. Plus the hassle of the different logins and the risk of becoming a victim of fraud goes up with more accounts. There's also the upfront cost of funding all the cards. 10 sounds excessive but if you are positive you can keep track of and check them all regularly and have the ability to fund them it should be fine.