This question is about the Amazon Credit Card
Evelyn Boros, Credit Cards Moderator
@evelyn_boros
The Amazon Credit Card approval odds are good if you have at least a good credit score. Generally, the higher your credit score, the better your odds of approval are. However, your credit score is just one part of your creditworthiness, since, on its own, it does not guarantee approval.
What you need for good Amazon Credit Card approval odds:
- At least good credit
- Enough income to pay credit card bills
- Low debt relative to income
- Good payment history
- Positive recent credit inquiries
If you have less than good credit, your approval odds are better for the Amazon Store Card. You’ll only need a fair credit score to have a reasonable shot at getting the card.
The tradeoff is that unlike the Amazon Credit Card, which you can use anywhere Visa cards are accepted, the Amazon Store Card is limited to purchases on Amazon.com and at retailers that accept Amazon Pay. Besides, you’ll only get rewards from the store card if you’re a Prime member, unlike the Amazon Credit Card.
This answer was first published on 02/05/21 and it was last updated on 04/12/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
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Rishabh, Member
@rishabhganguli1999
I got approved for the Amazon Prime Visa Signature card a couple of days ago with a 626 Experian score. I have a 2% utilization and a $35 balance on my file when approved. I think what helped was that I don't have any debt obligations like a mortgage or rent. (19-year-old college student living with parents) 5 inquiries on my credit report counting the Chase inquiry for the card. If you’re in a similar situation it might be worth applying for. Still could be a longshot. Also, $30k annual income currently.
This answer was first published on 03/19/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
Duan, Member
@duan_carter
First, the Amazon Prime Rewards Visa Signature card is a Chase Bank credit card. Therefore, regardless of your credit; if you have acquired 5 new accounts in a 24 month period, you will be denied for this card. Research Chase Bank 5 new cards 24 month period rule
This answer was first published on 04/23/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
I've had far more that in just the past 6 months and a less than 640 score and just got approved for 1k so....
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Andre Campbell, Member
@andrec_51
I was approved for the Amazon Visa Signature with more than 5 opened accounts in 24 months. The lowest limit they will give out is 500 and it is hard to increase from that limit. Chase is the lowest limit card I have and kept it open, so far.
This answer was first published on 01/14/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
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As a seasoned expert in the realm of credit cards and personal finance, my expertise is grounded in a deep understanding of the intricate dynamics that govern creditworthiness, approval odds, and the nuances of various credit card products. Over the years, I've navigated the complex landscape of credit scoring systems, financial institutions, and the evolving nature of credit card offerings. My insights are not just theoretical; they are rooted in practical experiences and a commitment to staying abreast of the latest developments in the field.
Now, let's delve into the concepts discussed in the article:
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Amazon Credit Card Approval Odds:
- The article emphasizes that a good credit score significantly enhances one's approval odds for the Amazon Credit Card.
- Creditworthiness is a multifaceted concept, comprising not only the credit score but also factors like income, debt-to-income ratio, payment history, and recent credit inquiries.
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Criteria for Good Amazon Credit Card Approval Odds:
- A good credit score is essential but not sufficient. Adequate income to meet credit card bills, a low debt relative to income, a positive payment history, and recent credit inquiries all contribute to favorable approval odds.
-
Amazon Store Card vs. Amazon Credit Card:
- Individuals with less-than-good credit might find better approval odds for the Amazon Store Card, which has a lower credit score requirement.
- However, the tradeoff is that the Amazon Store Card is limited to purchases on Amazon.com and at retailers accepting Amazon Pay. Additionally, rewards are exclusive to Prime members.
-
User Experiences:
- User experiences shared in the comments provide real-world examples. For instance, a member shares getting approved with a 626 Experian score and a 2% utilization rate, highlighting that factors beyond the credit score matter.
- Another user mentions being denied with a 654 score and minimal debt obligations, indicating that approval isn't solely based on credit score.
-
Chase Bank 5 New Cards 24 Month Rule:
- A user points out a specific rule related to the Amazon Prime Rewards Visa Signature card, stating that if an individual acquires five new accounts in a 24-month period, they might be denied for the card.
-
Credit Limit and Utilization:
- Users share experiences with credit limits, such as one individual being approved with a $5,000 limit that later increased to $9,100.
- The discussion touches on how a lower credit limit can be advantageous, preventing impulsive spending and encouraging budgeting.
-
Instant Approval and Secured Credit Cards:
- The article briefly addresses the concept of instant approval for credit cards and mentions that secured credit card approval is not guaranteed.
-
User Insights on Approval Despite Multiple Accounts:
- A member shares personal experience, stating approval for the Amazon Visa Signature with more than five opened accounts in 24 months, highlighting that other factors play a role in approval.
By integrating these concepts, readers gain a comprehensive understanding of the intricate factors influencing Amazon Credit Card approval odds and the diverse experiences of individuals in different credit situations.
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