Is the Amazon Store Card Worth It? Get the Visa Instead
A card locked to Amazon both ways
The Amazon Store Card, issued by Synchrony, is closed-loop, meaning you can use it only for Amazon purchases, and its rewards can be redeemed only at Amazon. So both your spending and your rewards are trapped in one retailer. It earns 5 percent back at Amazon for Prime members, which sounds fine until you compare it to the open-loop alternative. See are store cards worth it.
The APR and deferred-interest trap
The Store Card carries a steep variable APR around 29 percent, well above a mainstream rewards card, and it pushes Equal Monthly Payments financing with deferred interest. Deferred interest is a trap: if you do not pay the full balance before the promo ends, you are charged interest back to the purchase date, which can wipe out any rewards and then some. See the rewards math.
The Prime Visa is simply better
The Amazon Prime Visa from Chase earns the same 5 percent at Amazon and Whole Foods, plus 5 percent on Chase Travel, 2 percent on gas, dining, and transit, and 1 percent elsewhere, and it is open-loop, so you can use it anywhere and redeem rewards for cash, statement credits, or travel, not just Amazon. It also has a lower APR. The only edge the Store Card has is easier approval for thin credit. For almost everyone, take the Visa or a flexible card. See co-brand vs flexible cards.
Frequently asked questions
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