Personal Loans

How Does Amazon Financing Work? Compare Your Options

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There’s something exciting about receiving a new piece of technology in the mail. Peeling the plastic off that new Macbook Pro screen is oddly satisfying. You could say the same about taking your first shots on a Nikon D3500, just two days after you ordered it. Amazon isn’t just a retail giant; it’s a marketplace where you can browse and compare prices for expensive equipment, from laptops and cameras to designer watches and handbags.

Now, you don’t even have to leave Amazon’s website to finance these pricey items. But Amazon financing might not be the best option for your budget. Rewards credit cards, personal loans and retailer credit may be a better fit depending on your financial situation.

Click below to learn how to get Amazon financing and other ways you may pay for your next Amazon purchase.

Amazon Prime Store Card

The Amazon Prime Store Card is offered through Synchrony Bank and can be used exclusively for purchases on Aside from the financing options, this card stands out in one way: Earn 5% back on purchases for Prime members when they upgrade to the Amazon Prime Store Card. If you’re familiar with rewards credit cards, you’ll know that’s a fairly high percentage.

Using an Amazon credit card for the cash-back perks could help you recover the annual Prime membership cost of $119, if you’re a frequent Amazon shopper. You’d have to spend $2,400 on qualifying Amazon purchases through your Prime account to recover $120.

Amazon Prime Store Card Details
  • 25.99% variable
Annual fee
  • $0
  • Earn 5% back on purchases
Other perks
  • You may be offered an Amazon gift card upon application approval.
  • You may qualify for Amazon’s special financing and/or equal monthly payments on eligible purchases.
Eligibility requirements
  • Be at least 18 years of age and have a valid SSN.
  • No bankruptcies or seriously delinquent accounts on file.
  • Have not submitted an Amazon Prime Store Card application in the previous 90 days.

The information related to the Amazon Prime Store Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Exclusive financing options for Amazon Prime Store Card customers

Amazon offers two financing options if you have its Amazon Prime Store Card: equal monthly payments and special financing. Your eligibility for either option is subject to credit approval. Use the table below to compare these options.

Special financing Equal monthly payments
How is the purchase charged to your account? Upfront; you may need to make more than the minimum monthly payment to avoid paying interest. The purchase total is split into equal payments and is paid off within a certain time frame (6, 12 or 24 months).
How do you avoid interest and fees? Pay off the promotional balance off in the time frame allotted. Payments do not have to be equal from month to month. Make your payments on time every month. If you miss a payment, you will be charged a late fee, which will be assessed interest until paid.
How long does it take to pay off your purchase? Your billing statement will include information about how long it would take to pay off the purchase if you make the minimum payment. As long as you make each payment on time, your purchase will be paid off at the end of the offer period.
What is the longest term offered? 24 months, for purchases of $800 or more. 24 months, for purchases of $600 or more.

How to get Amazon financing

With the two above options, your purchase will be charged to your Amazon Prime Store Card. You’ll need to apply and be approved for the card, which is offered through Synchrony Bank, in order to take advantage of either financing option. If you can’t qualify for this card, then you should look at alternative financing options, such as personal loans or third-party financing options.

You don’t necessarily have to be a Prime member to take advantage of Amazon financing, but you’ll get 5% back on your purchase if you have a membership.

Applying for special financing when you’re ready to make a purchase is simple:

  1. Add the eligible item in your cart.
  2. Select “Amazon Prime Store Card” as the payment method.
  3. Select the financing option that works best for you.

Amazon Rewards Visa® Signature Card

The Amazon Rewards Visa® Signature Card, offered through Chase, doesn’t qualify for the marketplace’s special financing or equal monthly payments. However, you can use the Visa card on non-Amazon purchases.

The Amazon Rewards Visa® Signature Card reward program offers more opportunities for you to earn, with more flexible cash back options. You’ll also find the card has a range of APRs depending on your credit. However, those with low or no credit may not be approved.

If you have an eligible Prime membership, you may qualify for the Amazon Prime Rewards Visa® Signature Card, which offers 5% back on purchases, compared to the Amazon Rewards Visa® Signature Card’s 3% back.

Amazon Rewards Visa® Signature Card Details
  • 15.74% to 23.74% Variable
Annual fee
  • $0
  • Earn 3% back at and Whole Foods Market, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases.
Other perks
  • You may find be offered an Amazon gift card upon application approval.
  • No foreign transaction fee.
  • Balance transfers and cash advances are available.
  • Extended warranty protection.
Eligibility requirements
  • Be a U.S citizen at least 18 years of age and have a valid Social Security number or U.S. Individual Taxpayer Identification Number.
  • Offer is subject to credit approval.
* 5% back at if you have the Amazon Prime Rewards Visa® Signature Card.

The information related to the Amazon Rewards Visa® Signature Card and Amazon Prime Rewards Visa® Signature Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Don’t overlook these other financing options

Purchasing through a retailer

Many retailers, such as Best Buy, Apple and Samsung, offer 0% promotional APR credit line financing similar to Amazon’s. For example, Best Buy offers six months of no-interest financing on purchases $199 or greater and 12 months of no-interest financing on purchases $399 or greater when you use a My Best Buy Credit Card. Not everyone will be approved through store credit accounts, so be mindful of your credit score before applying.

There’s not much of a difference if you wanted to go with store credit card financing or Amazon Prime Store Card financing, so you might choose whichever retailer has the best deal on the equipment you want. However, keep in mind that you will be charged interest on your purchase if you haven’t paid the balance within the allotted promotional time period. Interest rates and promotional financing will vary between stores and can be high, so do your research before you open an account.

Be sure you have a clear plan for repayment for any debt you pick up, and be mindful of any fees you might incur.

Rewards credit cards

The Amazon Rewards Visa® Signature Card may be a solid option for disciplined card users who frequent But it’s not your only option for a rewards card.

You could take advantage of another rewards credit card that offers better perks for purchases you make elsewhere. If you travel often, a travel rewards card may be a better option.

Many rewards credit cards offer 0% promotional rates, so you could end up paying no interest as long as you pay off your purchase within the allotted time period within account opening.

Rewards credit cards are reserved for those with good to excellent credit, so they’re not for everyone.

Personal loan

Shoppers with excellent credit may find an unsecured personal loan is a viable option. Borrowers with credit scores over 720 saw an average personal loan APR of 7.27%, found a 2019 LendingTree study. That may be markedly lower than the rate you’d find on a credit card.

However, a personal loan may be an expensive financing option for those with less-than-stellar credit profiles. Subprime borrowers saw an average APR of 85.92%. Before settling on a lender, make sure you consider all your financing options to minimize your costs of repayment.

Third-party financing services

If you do a lot of online shopping, you might be familiar with third-party financing services like Afterpay or Affirm. With these services, you can pay off that Peloton that’s out of your budget in smaller monthly payments. You can even buy pricey makeup, a Yeti cooler or a set of new tires using financing services like these. You’ll see these financing options in your retailer’s virtual shopping cart when you’re ready to check out.

But if it sounds too good to be true, you might be right. Interest rates for Affirm, for example, range from 10% to 30%, so if you get stuck on the higher end, you could be paying even more than you would with a high-interest credit card.

Be sure you can afford your purchase before you finance it

Financing can make an expensive item seem more attainable, but that doesn’t mean you should buy it anyway. See if there’s an alternative item that fits into your budget, like swapping out a professional-quality DSLR camera for a beginner’s digital camera, if you’re just taking your first foray into the world of photography. Or adjust your budget so that you can save up and buy what you want when you truly have the money. The bottom line: if you can’t afford something, don’t buy it.


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