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 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:
Earn 1 point
per £1.33 spent with select partners
Earn 1 point
per £4 spent elsewhere
Up to 2,000 points
|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.
The Amazon Platinum Mastercard is issued on the Mastercard network so it's accepted at nearly 53 million merchants across more than 210 countries and territories.
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 it compare?
Other popular reward cards
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 either damaging your credit score, getting hit with a penalty fee (£12) 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
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.
Frequently asked questions
What credit limit will I get with the Amazon Platinum 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 Platinum Mastercard?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (withdrawing cash at an ATM, getting cashback at the till, spending at a casino, buying currency, etc.) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Amazon Platinum 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 31.94%, which is 46% more than the standard purchases 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 Platinum Mastercard abroad?
Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£181.54), it'll cost you around £4.99.
What is the minimum payment on the Amazon Platinum Mastercard?
Each month you must pay at least 1% of your balance at that point or £5.00 – whichever of the two 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.