Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
Amazon Classic Mastercard review August 2020
Designed for less-than-perfect credit scores, the Classic card could be your “stepping-stone” to better rates.
Finder rating: ★★★★★
Doing its job: 4/5
In a nutshell:
Up to 56 days
Interest-free each billing period
|Balance transfer fee||5%|
|Purchases||0% for 3 months reverting to 29.95%|
|Purchases interest-free period||Up to 56 days|
|Min credit limit||£500|
|Max credit limit||Not specified|
|Incentive||Be upgraded to the Amazon Platinum Mastercard if you make at least one transaction a month, make repayments on time and stay within credit limit in the first 12 months..|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
For Amazon devotees (and who doesn’t that include?) with lower credit scores, this “credit builder” is a straightforward option with a couple of interesting hooks.
What sets it apart from similar cards is its “Instant credit” feature, which means that you don’t have to wait for the physical card to land on your doormat – you can get spending straightaway (albeit only on Amazon). It’s a facility that should probably be seen as a bonus though – and not as the main reason for getting the card.
Credit builder credit cards are typically easier to get approved for, but come with higher interest rates. That means that they’re better used as a “stepping stone” to credit products with better rates. In other words, you should use a credit builder card responsibly, and then, as soon as you’re eligible, apply for a better card.
While some card issuers hope that you’ll forget to switch to a cheaper product, Amazon will automatically upgrade you to its Platinum Mastercard after a year, provided you use the Classic card responsibly (but regularly). That means using your card at least once a month, making repayments on time, and staying within your credit limit.
You should also aim to clear your balance in full each month if possible. Do that, and you’ll be able to take advantage of up to 56 interest-free days each billing cycle (if you don’t clear your balance each month, interest is charged from the day you make a purchase).
How does this card compare with other credit builders?
Other credit builder credit cards
When it comes to repayments, you can make manual repayments online or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for the Amazon Classic Mastercard
If you’ve compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you’ll need to make the process as straightforward as possible.