What credit score do you need?

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With Amazon hosting a second Prime Day event this year on October 11-12, shoppers looking for more ways to save should consider signing up for the Amazon Prime Rewards Visa Signature Card.

Although this credit card with no annual fee is only available to consumers who already have an Amazon Prime membership – which currently costs $139 per year or $14.99 per month, with discounted prices for students and those who receive Government assistance – new cardholders can take advantage of a lucrative welcome bonus that will help offset at least some of that expense for your first year: a $100 Amazon.com gift card upon approval.

Amazon Prime Rewards Visa Signature Card

  • Awards

    5% cash back at Amazon.com and Whole Foods Market; 2% back at restaurants, gas stations and pharmacies; 1% cashback on all other purchases

  • welcome bonus

    $100 Amazon.com gift card upon approval

  • Annual subscription

    $0 (but Prime membership required)

  • Introduction AVR

  • Regular APR

    15.74% to 23.74% variable

  • Balance Transfer Fee

  • Foreign transaction fees

  • Credit needed

Cardholders also receive 5% back in rewards for all purchases at Amazon.com and Whole Foods Market, as well as 2% back at restaurants, gas stations and pharmacies and 1% back on all other purchases. You’ll also be able to get 10% or more off Amazon.com’s limited-time offers, based on rotation of spending categories and products, and you won’t have to worry about paying transaction fees at any time. foreigner for the use of the card abroad. These reward rates make it the best credit card to use when shopping on Amazon.

Below, Select looks at the type of credit score you’ll need to qualify for the Amazon Prime Rewards Visa Signature Card, as well as another Amazon credit card that could help you earn rewards for all your purchases from. from the famous online retailer.

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What credit rating do you need to get the Amazon Prime Rewards Visa Signature Card?

Typically, credit card issuers will review your credit score, income, recent credit applications, and credit history when they approve you for a new card. Keep in mind that while your FICO credit score is one of the most important factors, it’s not the only one to consider.

FICO score factors:

  • Payment history (35%) — Whether you made your previous payments on time
  • Amounts Due (30%) — Your credit utilization rate, or the ratio of the amount of credit you are using to the amount that has been granted and is due on your accounts
  • Length of credit history (15%) — The length of time you’ve had credit
  • New Credit (10%) — How often you open new accounts
  • Credit mix (10%) — Whether you have different types of credit, such as installment loans or revolving lines of credit

Issuers will generally consider your FICO 8 score, one of the most widely used scoring models, which ranges from 300 to 850. Higher scores indicate a higher level of creditworthiness or the likelihood of a cardholder being in able to pay their bill on time. and in full.

FICO score ranges:

  • Very bad: 300 to 579
  • Fair: 580 to 669
  • Good: 670 to 739
  • Very good: 740 to 799
  • Excellent: 800 to 850

For the Prime Rewards Visa Signature Card, you will likely need a good credit score (670 or above) to qualify. Having a good credit score doesn’t necessarily guarantee you’ll be approved, but the higher it is, the better your chances are.

In order to maintain a good FICO score, make sure you make your other credit payments on time and in full, keep credit utilization low, and limit the number of credit applications you submit.

Another Amazon Credit Card to Consider

Amazon Rewards Visa Signature Card

  • Awards

    3% cash back at Amazon.com and Whole Foods Market; 2% back at restaurants, gas stations and pharmacies; 1% cashback on all other purchases

  • welcome bonus

    $50 Amazon.com gift card upon approval

  • Annual subscription

  • Introduction AVR

  • Regular APR

    15.74% to 23.74% variable

  • Balance Transfer Fee

  • Foreign transaction fees

  • Credit needed

Advantages

  • No annual fee
  • No Prime subscription required
  • $50 Amazon Gift Card upon approval, no spending requirement
  • 3% back on Amazon and Whole Foods Market
  • No fees charged on purchases made outside the United States

The inconvenients

  • 3% Grocery Discount only applies to groceries purchased from Amazon or Whole Foods Market
  • Estimated rewards earned after 1 year: $399
  • Estimated awards earned after 5 years: $1,835

Total rewards include points earned through welcome bonus

Note that this no-annual-fee credit card offers a lower rewards rate than the Prime Rewards card, but you’ll still earn 3% back for your purchases at Amazon.com and Whole Foods Market; as well as a 2% discount for spending at restaurants, gas stations and pharmacies; and 1% cashback on all other purchases.

To be approved for this card, you will need to have a good credit score of at least 670, although having a higher one certainly won’t hurt your chances.

At the end of the line

If you’re looking to earn rewards for all your Amazon purchases – especially this week during the second Prime Day event taking place October 11-12 – look no further than the Amazon Prime Rewards Visa Signature Card and the Amazon Rewards Visa Signature Card.

Both are cards with no annual fee that offer Amazon gift cards as welcome bonuses and higher rewards rates for purchases at Amazon.com and Whole Foods Markets.

The Amazon Prime Rewards Visa Signature Card is a good option for anyone who uses Amazon frequently and is considering (or already has) an Amazon Prime membership. For those who are not regular Amazon shoppers, the Amazon Rewards Visa Signature Card is a better choice and also saves you money.

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Amazon card information was independently collected by Select and was not reviewed or provided by the issuer prior to publication; if you buy something through selected links, we may earn a commission.

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff alone and have not been reviewed, endorsed or otherwise endorsed by any third party.

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