How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
The Amazon Secured Card is an excellent card for people who love to shop at Amazon but are new to credit or rebuilding their credit score. The $0-annual-fee card offers 2% back at Amazon.com and Whole Foods Market with an eligible Prime membership. And if you need to carry a balance from month to month, the interest rate is very competitive for a secured credit card.
Cardholders receive access to free credit-tracking tools to monitor their progress in building credit. Additionally, after 12 months of responsible use, cardholders may be eligible to convert their card to a store card that earns 5% rewards on Amazon purchases.
We highlight the pros and cons of the Amazon Secured Card, and show how it compares to similar secured credit cards, to help determine if it’s the right fit for you.
The information related to the Amazon Secured Card and the Amazon Prime Store Card has been independently collected by LendingTree and has not been reviewed or provided by the issuers of these cards prior to publication.
Intro Purchase APR
N/A
Regular Purchase APR
10.00% non-variable
Intro BT APR
N/A
Regular BT APR
N/A
Annual Fee
$0
Cash Advance Fee
N/A
Foreign Transaction Fee
N/A
Balance Transfer Fee
N/A
Cash back rewards on Amazon purchases
Amazon Secured Card holders can earn 2% back at Amazon.com and Whole Foods Market with an eligible Prime membership — making it one of the best cards for Amazon purchases. Rewards can be redeemed for eligible Amazon.com purchases or for statement credit.
Reports to the major credit bureaus
One of the most common reasons to get a secured card is to build your credit profile for future borrowing needs. The Amazon Secured Card reports your card usage and payment history to the three major credit bureaus (Equifax, Experian and TransUnion). By using the card responsibly over time, you’ll build your credit and potentially qualify for even better credit card offers.
Low minimum deposit required
Once you’re approved for the Amazon Secured Card, you’ll be required to submit a security deposit — which will serve as your line of credit — ranging from $100 up to the amount you’re approved for (maximum of $1,000). That’s an ideal minimum deposit requirement if you don’t want to submit a large amount upfront.
Note, you’ll receive your security deposit back if you close your account or convert to an unsecured Amazon credit card.
Low APR and limited fees
If you need to carry a balance on your Amazon Secured Card month over month, know that it comes with a very low 10.00% non-variable purchase APR. The card also charges a $0 annual fee and a maximum late payment fee of just $5.
That said, a Prime membership fee is required if you want to earn rewards with this card. Additionally, to avoid negatively impacting your credit, we recommend paying your balance on time each month and in full whenever possible.
Requires Prime membership
Anyone can apply for the Amazon Secured Card; however, if you want to earn rewards on the purchases you make using the card, you must have an Amazon Prime membership.
While Prime membership provides numerous benefits, such as free shipping and access to Prime Video, the $139 annual cost (or $14.99 monthly cost) may be too much for people focused on building their credit.
Can only be used to make purchases at Amazon.com
Unlike the majority of rewards credit cards, which allow you to make purchases using the card everywhere you shop, the Amazon Secured Card can only be used at Amazon.com and Amazon physical stores.
Low maximum credit limit
While the Amazon Secured Card provides the opportunity to submit a low security deposit of just $100, beware that the maximum credit line it offers is only $1,000. If you need more purchasing power than that, you may want to consider a secured credit card with a high credit limit.
If you want the opportunity to earn cash back on every purchase you make using a card, as well as the ability to use your card everywhere you shop, the Discover it® Secured Credit Card may be a better fit. Cardholders 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically Plus, Discover will match all the cash back you’ve earned at the end of your first year.
With the Discover it® Secured Credit Card, you can become eligible to convert to an unsecured card after just seven months, versus the 12 months required for the Amazon Secured Card. The card also charges a $0 annual fee — with no additional membership fees required to earn rewards — and waives the late fee the first time you pay late: The late fee is none the first time you pay late. After that, up to $41.
One downside of the Discover it® Secured Credit Card is that the minimum security deposit is $200, which may be harder to come up with for some people. Additionally, the card charges an APR of 27.74% Variable APR, which is much higher than the Amazon Secured Card if you are unable to pay your balance in full each month.
| Credit Cards | Our Ratings | Welcome Offer | Rewards Rate | Annual Fee | Regular APR | |
|---|---|---|---|---|---|---|
|
Amazon Secured Card*
|
N/A | 2% back at Amazon.com and Whole Foods Market with an eligible Prime membership | $0 | 10.00% non-variable | ||
|
Discover it® Secured Credit Card*
|
Discover will match all the cash back you’ve earned at the end of your first year. | 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically | $0 | 27.74% Variable APR | ||
Amazon Prime Store Card*
|
$10 Amazon Gift Card upon approval | Prime cardholders can earn 5% back at Amazon.com | $0 | 29.99% | ||
Capital One Quicksilver Secured Cash Rewards Credit Card*
|
N/A | 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply) | $0 | 29.99% (Variable) |
If you frequently make purchases at Amazon and need to build credit, you may want to consider the Amazon Secured Card. In addition to offering 2% back at Amazon.com and Whole Foods Market with an eligible Prime membership, the card reports your credit activity to the major credit bureaus.
However, while this secured card offers rewards on Amazon purchases, it cannot be used to pay for purchases at non-Amazon stores. Because of that, you may be better off with one of the best secured credit cards for all of your daily purchases.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
The information related to the Amazon Secured Card, Amazon Prime Store Card, Discover it® Secured Credit Card and Capital One Quicksilver Secured Cash Rewards Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
