Amazon Credit Builders Review 2021:
Is It Legit?

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By: Scam Risk - Expert Reviewer

If it’s one thing you don’t want to ignore forever…it’s your credit score. In fact, doing so could be a major mistake that keeps you from affording major purchases like homes down the road…

There are many ways and different options for building your credit, but one of the newer, and more unique, opportunities is with the amazon builder card!

Having a good credit score comes with many benefits such as:

  • Better approval odds for a business loan or credit card
  • Better terms and a lower interest rate
  • Better approval odds for home loans

Table of Contents

What Is Amazon Credit Builder?

According to Amazon themselves, here is the description they provide:

“The Amazon Credit Builder is a secured credit card designed for people who are looking to build or rebuild their credit. Once approved for the Amazon Credit Builder, you are required to make a refundable security deposit as collateral to open your credit card account.”

This is a unique move by amazon to say the least, a company that has dominated the ecom space and now delivery with amazon prime, they are now expanding even further entering into the secured credit card game.

Who Owns Amazon Credit Builders?

The devil is in the details as they say…but it isn’t too difficult to connect the dots in this case.

Just as everything else in Amazon…

Amazon credit builder is owned by Jeff Bezos and synchrony bank.

Amazon Credit Builder: Scam?

Amazon Credit Builder Scam

Is Amazon Credit Builder A Scam? No, Amazon Credit Builder is not a scam. It’s basically designed for people looking to build or rebuild their credit and have enough money for a security deposit when opening their account.

Full Review

Below we are going to go over anything and everything that was ever associated with the amazon credit builder card.

Things such as:

  • credit line
  • cred limit
  • interest rate
  • credit file
  • equal pay financing
  • prime membership
  • security deposit amount
  • monthly payments
  • balance transfers
  • APR

How Does Amazon Credit Builder Work?

The Amazon Credit Builder Card offers customers a way to build up or rebuild their credit. It acts like a regular credit card with credit line equal to your deposit as cardholders (like most secured card options).

As far as banking institutions, Amazon has chosen to partner up with Synchrony bank…some love it and some hate it.

Once you submit your application for the Amazon Credit Builder Card, and you’re approved, you will need to make a REFUNDABLE security deposit that serves as your collateral in case you default on payments.

Here’s what it would look like…

Let’s say you deposit $250, then that $250 is the max you can spend with this Credit Builder Card.

Once you made your payments and are paid in full…

Your deposit can be refunded and you can close the account if you so choose.

However, if there is a balance remaining…it will be deducted from your initial security deposit.

With the Amazon Credit Builder Card, you set up payments on anything from new equipment to new inventory.

The amazon store credit cards act like any other of the credit cards on the market. To pay off your debt it’s as simple as making payments equal to the full balance (which isn’t recommended) or making the minimum payment (which is recommended).

What Credit Score Do You Need To Get An Amazon Credit Card?

To get an amazon store card, you will need to have a credit score of 640 or higher. The higher the score the better your chances are for approval.

Why Did I get An Amazon Credit Builder Email?

On November 25th 2019 many different people who did not have an amazon credit builder card woke up to alarming messages claiming that they needed to take action with their account or that a deposit had been made.

It turns out this was an issue on Synchrony’s end and they have since resolved the issue. They say it was an internal error and that there were no hacks or compromising of personal info.

Still it makes our team here at Scam Risk scratch our heads…

Can I Get Amazon Credit Card With Bad Credit?

Yessir!

This is the whole point of this credit builder card.

It is specifically for customers with bad credit or even no credit that are looking to into credit building so they can get other credit cards or upgrade to an unsecured credit card.

How Does The Amazon Credit Builder Compare To Other Credit-Building Cards?

You won’t be charged interest if you make the monthly payments on time and paid in full.

You can only use the card for purchases inside the amazon store…when it comes to financial responsibility…that’s definitely a perk.

If you are an Amazon Prime Member, you get 5% cash back on every purchase in the store.

You have the option for deferred interest and equal pay plans for cardholders.

As a cardholder you will the chance to upgrade to an unsecured credit card after you make enough consistent payments on time.

It’s not much…but they also give you a $10 gift card to applicants that get approved.

Does The Amazon Store Card Credit Builder Do A Hard Pull?

Unfortunately the Amazon Com Store Card does require a hard pull and you need a score of at least 640 to qualify. It is competitive with others in the market like Capital One.

The hard pull will usually cause a drop of 5-10 points in the applicant’s credit score, but they can bounce back fast as long as they have good credit management skills.

Is There An Unsecured Amazon Store Card?

Yes!

Once you pay your balances off, you will get your deposit back and you will be upgraded to the unsecured amazon card. SB will automatically issue you your new account!

Is There An Amazon Prime Store Card?

Yes! 

This is a card where you can only be eligible if you are an amazon prime member and your credit is approved. Promotional offers may apply to those purchases.

Can You Upgrade To An Unsecured Amazon. com Store Card?

Yes!

How Much Is The Security Deposit For an Amazon Credit Builder Card?

This is Amazon’s competitive advantage in our opinion. Whereas most secured card companies make your deposit at least $200…The Amazon Credit Builder Card requires a minimum deposit of just $100

This is perfect for the little stuff and helps you learn to be financially responsible.

Does Amazon Still Offer Installment Payments?

Yes!

It is not all that well known…but it is available on select items for those that are eligible.

The first payment is 30 days after shipping and the second 60 days and so forth.

Can You Receive Prime Store Card Credit?

Yes!

Special financing and equal pay monthly payment offers may apply.

Do You Need An Amazon Prime Membership?

For some of the higher end Amazon credit cards you will need to have a Amazon Prime Membership.

What Does The Credit Approval Process Look Like For Amazon?

Their approval process is similar to many of the other companies out there…credit bureaus will be made aware, your credit scores will be looked at as will be your credit history, and you will need to meet their credit criteria.

If approved, you might be sent promotional financing options and more special financing offers like deferred interest, cash back options, and other card offers.

Is It Worth Getting An Amazon Store Card Credit Builder?

If Amazon is your life, and we know it has been for a lot of those over the past year, this is a great option to go with.

You can use this card to make small amazon purchases that will help build your credit and increase that credit score!

One of the best things we like about it is that you can only use it on store purchases which keeps you away from the temptation of blowing the money elsewhere.

However, nobody likes having to use credit cards all the time or being tied down to secured credit cards…we have a solution for that…

But more on it later…

FAQ's

What Is The Easiest Synchrony Bank Card To Get?

The amazon credit builder card is likely the easiest to get if you credit score is not where you would like to be.

Does Synchrony Bank Use TransUnion?

Yes, they will use TransUnion to assess how credit worthy you are.

Looking To Build Your Credit As A Young Person?

The best way to build credit as a young person is to look into credit building cards and other secured card options.

What you should do when you first get your cards are to make sure and never fully pay off the balances all the way…

It may seem counterproductive…but you need to leave small balances on the card every month so that you can start building credit history of paying back monthly consistently.

By using credit cards…you can build up a good credit score over 24 months. For some it might be more time, and others less, but 24 months is a good average as long as you make responsible purchases.

Never Need To Build Or Rebuild Your Credit Again!

Being at the mercy of a credit card is somewhere none of us want to be at every again, especially a secured credit card where we have a credit limit and have to use our own money…

What we’re about to discuss is an opportunity that was heavily reviewed by our team before earning our recommendation.

By entering an industry like this…you’ll never have to worry about needing good credit to make purchases ever again!

Digital Real Estate

Or local lead gen as some like to call it, is the new way to wealth for 2020 and beyond

2020 has been absolutely devastating to the physical real estate market and has been opened up to many different scams and acquisitions that we can’t recommend entering with good a good conscience.

Digital real estate is super simple to make money in…

All you have to do is build a website, rank it, and pass all the jobs off to a guy in town who pays you for it.

But you’re wondering how you make the money from it?

How You Make Money

When a website for a service based industry like tree service, plumbing, or roofing is at the top of page one of google…it’s getting all the calls.

I mean think about it…how many times have you scrolled over to page 2 for someone to fix your sink?

Now all these calls / leads have prices associated with them…

That’s how home advisor has made millions today!

Except this is much more honest and much more exclusive.

You see, you’ll be passing off jobs exclusively to business owners…they hate the shared leads home advisor gives.

Now for the numbers…

Let’s look at tree service for example.

The average job is about $500-$2,000 and it isn’t uncommon for contractors to pay a 10-20% finders fee.

So with those numbers let’s create a model based off worst case scenario…

Let’s say you’re only getting 10 calls a month and the guy is only landing the $500 jobs.

10×500 = 5,000 x .10 = $500

With that math at worst case scenario…it’s still $500 you are bringing in each and every month!

Now imagine what having 20 of these sites would look like! That’s 10 grand month in pure passive income!

But now you’re thinking “hold up my man…I don’t even know where to start!”.

Don’t worry, we’ve taken care of that for you!

Where To Learn

Our team at Scam Risk has gone through a fully vetted a course / program that teaches exactly this!

They walk you through step by step how to build and rank a website…even going as far as teaching you how to talk to the business owner because it can be nerve wracking at first when you have all these calls.

Beyond they training, they jump on live zoom calls with you twice a week where you can hang out and ask any questions you might have.

You are also given access to a private Facebook group that is active 24/7.

Check them out!

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4 Comments
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