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 Platinum Mastercard review April 2020
If a significant chunk of your paycheck goes Amazon's way each month, then this points-earning loyalty card could make your money go a little further.
Finder rating: ★★★★★
Doing its job: 4.5/5
In a nutshell:
Up to 2,000 points
Earn 1 point
per £4 spent
|Balance transfer fee||5%|
|Purchases||0% for 3 months reverting to 21.94%|
|Purchases interest-free period||Up to 56 days|
|Min credit limit||£500|
|Max credit limit||Not specified|
|Incentive||Earn 1.5 Amazon reward points per £2 spent at Amazon.co.uk. Earn 0.5 Amazon reward point per £2 spent elsewhere. Whenever your Amazon reward points reach 1,000 a £10 Amazon.co.uk Gift Card will be automatically linked to your Amazon.co.uk account. For Amazon Prime members - earn 3 Amazon reward points per £2 spent at Amazon.co.uk and earn 0.5 Amazon Reward point per £2 spent elsewhere.|
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.
Amazon has teamed up with the established card issuer New Day (the brand behind a number of UK retail-affiliated cards) to offer this straightforward but rewarding deal. In fact, ever ahead of the curve, Amazon started offering a credit card long before fellow US behemoth Apple jumped on the plastic bandwagon.
What makes this card more appealing than many other retail credit cards, is the simple fact that Amazon is, um, doing rather well. To get the best out of any branded loyalty card, you need to be a very regular customer, which, in Amazon’s case, is pretty much everybody.
The easy mistake with rewards credit cards, however, is not paying off your balance in full each month. Sounds obvious right? But if you don’t, you’ll pay more in interest than you earn in rewards. If you need to spread the cost of a large expenditure, there are plenty of more suitable cards available.
Buried in the small-print for this card is the minor detail that if you’re signed-up for Prime, you’ll earn points on Amazon spending at double the rate (each Amazon Reward Point is worth a penny) – a fairly significant perk given the way that Prime membership seems to be fast-becoming the norm.
Pros and cons
- Earn Amazon Reward Points on purchases though Amazon or elsewhere.
- Amazon gift card for new cardholders.
- Increased points earn-rate for Amazon Prime customers.
- 0% on purchases for introductory period.
- No annual fee.
- Foreign transaction fees.
- Balance transfer fee.
How does this card compare with other rewards cards on the market?
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 (just make sure you have the funds in your current account to cover the direct debit!). 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 credit card
If you’ve been won over by this rewarding card and want to apply, just visit Amazon to complete the secure application form, which takes about 15 minutes.
Before you apply, you’ll be prompted to check your eligibility – this involves a “soft search” of your credit file – meaning it can’t hurt your credit score. You’ll get a clear indication as to whether or not you’d be approved, after which you can submit a full application. As with any credit card, the final application involves a “hard” credit search, which has a small (and usually short-lived) negative effect on your credit score.
With “Instant spend”, provided you qualify, you’ll be able to start using your card at Amazon straightaway – in other words you won’t need to wait for the physical card to arrive in the post.