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Amazon's New Credit Card Comes with $10 Gift Card

Amazon has announced its partnership with Synchrony Financial to launch a new credit building Store Card. This news arrives on the heels of reports that FedEx and Amazon are ending their business partnership. 

As an incentive, Amazon is currently giving away a $10 gift card to new Amazon Store Card holders. The traditional card lets you shop now and pay off your debt later through financing. 

So if you use an Amazon Store Card to pay for Amazon Prime Day deals next month, you'll be able to spread out your payments over the course of 6, 12 or 24 months.  

The retailer's new Store Card Credit Builder option caters to shoppers who want to establish and build credit. As its name implies, the Amazon Store Card Credit Builder lets card holders build their credit toward an elevated Amazon Store Card. 

Credit Builder card holders will have access to a free credit score simulator tool alongside free credit score monitoring. Unlike the regular Store Card which lets card holders shop right away upon approval, the Credit Builder Card requires a $100 security deposit with a 7-14 day wait time for processing. 

Prime members who adopt the Amazon Store or Amazon Store Credit Builder card are eligible for Prime perks that non-Prime Store Card holders aren't. This includes 5% cash back on orders under $149 or the option of cash back or promotional financing on orders over $149.

Although there's no annual free and zero fraud liability, Amazon Store Card does have a 28.24% annual percentage rate and a $38 late payment penalty. 

Despite its caveats, Amazon's Store Credit Builder Card offers a viable solution for anyone who aims to achieve a desirable credit score. 

To get your $10 Amazon gift card now, sign up for Amazon's Store Card here.

Hilda Scott is a Deals Writer at Tom's Guide and Laptop Mag, bringing you the best bargains on laptops, gaming gear, smart home gadgets, and wearables. After graduating from Hunter College with a degree in Film and Media Studies, she's written for iTechPost,, Parle Mag, Enstars, and Latin Times. When she's not bringing readers the best deals, she's streaming her favorite shows or attending a live concert or pro wrestling event.