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Amazon Classic Mastercard review
This card is no longer available, but you can use our review to find alternatives.
The Amazon Classic Mastercard has been discontinued and is no longer available. However, this information has been kept for historical purposes. You can use this page to compare similar cards from other issuers.
Finder rating: ★★★★★
Representative example: When you spend £1,200 at a purchase rate of 29.95% (variable) p.a., your representative rate is 29.9% APR (variable).
£500
Minimum credit limit
Up to 56 days
Interest-free each billing period
29.9%
Representative APR
£0
Account fee
Details
| Issuer | NewDay Ltd |
|---|---|
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 29.95% |
| Balance transfer fee | 5% |
| Purchases | 0% for 3 months reverting to 29.95% |
| Purchases interest-free period | Up to 56 days |
| Cash advances | 39.94% |
| Minimum credit limit | £500 |
| Maximum credit limit | Subject to status |
| Additional cards available | 3 |
| Additional Rewards Info | 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. |
| Introductory Rewards | £20 Amazon gift card on approval |
Review by
Chris Lilly
chris.lilly@finder.comChris Lilly is a publisher at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.
Expert review
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).
Pros and cons
Pros
- Three months to spread the cost of purchases
- No annual fee
Cons
- Relatively high balance transfer fee
Other credit builders
Table: sorted by representative APR, promoted deals first
Approval for any credit card depends on your status. The representative APRs shown represent 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.
Repayment options
You can make manual repayments through NewDay Ltd's app by logging in to your online banking or over the phone. Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and damaging your credit score – making it harder and more expensive to borrow money in the future – and getting hit with a penalty fee (£12) 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
Sorry – NewDay Ltd is no longer accepting applications for this card. However you may wish to consider one of the alternatives listed above.
Frequently asked questions
What credit limit will I get with the Amazon Classic Mastercard?
If NewDay Ltd is able to offer you this deal, the offer will specify a personalised credit limit based on NewDay Ltd's assessment of your situation. The minimum limit offered on this card is £500 and NewDay Ltd does not specify a maximum. Once you've had the card for a while and shown NewDay Ltd that you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Amazon Classic Mastercard?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Amazon Classic Mastercard is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £7.50.
The interest rate on this part of your balance will be 39.94%, which is 34% more than the standard purchase rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
How much does it cost to use the Amazon Classic Mastercard abroad?
Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£171.90), it'll cost you around £4.73 in fees.
What is the minimum payment on the Amazon Classic Mastercard?
Each month you must pay at least 1% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £450.00 outstanding, you'd pay £5.00, and if you had £2,000.00 outstanding, you'd pay £20.00.
Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money which can lead to persistent debt.
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Our experts score credit builder credit cards to determine their value against similar products on the market. We look at a number of important factors, like interest rates, credit limits, features to help you track your credit, plus the potential costs involved with running the card both in the short and longer term.
You can read more about our scoring criteria on our credit card methodology page.
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