What Credit Score Do You Need for an Amazon Prime Rewards Visa Card
The Amazon Prime Rewards Visa Card is a popular choice for many Amazon shoppers, offering various benefits and rewards. If you’re considering applying for this card, you may wonder what credit score is needed to qualify. In this article, we will explore the credit score requirements for the Amazon Prime Rewards Visa Card and provide answers to some frequently asked questions.
Credit Score Requirements
The Amazon Prime Rewards Visa Card is issued by Chase Bank, and like most credit cards, it has specific credit score criteria for approval. While Chase does not explicitly disclose the minimum credit score required, it’s generally recommended to have a good to excellent credit score to increase your chances of approval.
A good credit score typically falls within the range of 670 to 739, while an excellent credit score is considered to be 740 or above. However, keep in mind that credit scores are not the sole factor considered during the application process. Lenders also evaluate your income, debt-to-income ratio, credit history, and other aspects of your financial profile.
If you have a credit score below 670, it doesn’t necessarily mean you won’t be approved for the Amazon Prime Rewards Visa Card. Several individuals with fair credit have reported being approved for the card. However, having a higher credit score will likely provide better approval odds and access to favorable terms and credit limits.
Benefits of the Amazon Prime Rewards Visa Card
The Amazon Prime Rewards Visa Card offers several features and perks that make it an attractive option for frequent Amazon shoppers. Here are some key benefits:
1. Generous Cash Back: Cardholders can earn 5% cash back on eligible purchases at Amazon.com and Whole Foods Market. This cash back percentage is higher than what many other credit cards offer for online shopping.
2. Rewards on Other Purchases: The card also provides 2% cash back at restaurants, gas stations, and drugstores, making it a versatile option for everyday expenses.
3. No Foreign Transaction Fees: If you frequently travel or shop internationally, the Amazon Prime Rewards Visa Card is an excellent choice since it doesn’t charge any foreign transaction fees.
4. No Annual Fee: Cardholders don’t have to worry about an annual fee eating into their rewards earnings. However, an Amazon Prime membership is required to access the card’s benefits.
Q: Can I get approved for the Amazon Prime Rewards Visa Card with no credit history?
A: It may be challenging to get approved with no credit history, as lenders often prefer to see a track record of responsible credit usage. Building a credit history by using a secured credit card or becoming an authorized user on someone else’s credit card can increase your chances.
Q: How long does it take to receive a decision on my application?
A: The decision on your Amazon Prime Rewards Visa Card application is typically provided instantly. However, in some cases, Chase may require additional time to review your application and may notify you by mail.
Q: What happens if I have a low credit score and get denied?
A: If you’re denied for the Amazon Prime Rewards Visa Card due to a low credit score, it’s essential to focus on improving your credit. Paying bills on time, reducing debt, and maintaining low credit utilization can help boost your credit score over time.
Q: Is the Amazon Prime Rewards Visa Card available to international customers?
A: No, the Amazon Prime Rewards Visa Card is currently only available to customers residing in the United States.
In conclusion, while there is no specific credit score mentioned for the Amazon Prime Rewards Visa Card, having a good to excellent credit score will increase your chances of approval. However, it’s important to note that other factors are also considered during the application process. Remember to weigh the benefits, such as generous cash back rewards and no foreign transaction fees, against your personal financial goals before applying for this card.