The short answer is yes applying for an Amazon card can hurt your credit score but only by a small amount. This is because when you apply for any credit card, the lender will perform a hard inquiry on your credit report. This inquiry can temporarily lower your credit score by 5 to 10 points. However, the impact is usually temporary and your score should bounce back within a few months.
This is a more thorough explanation of the ways in which requesting an Amazon card may impact your credit:
- Hard Inquiry: As mentioned above, applying for an Amazon card will result in a hard inquiry on your credit report. This inquiry will stay on your report for two years, but it will only affect your credit score for about a year.
- Credit Utilization: Your credit utilization ratio is the amount of credit you’re using compared to your total available credit. When you apply for a new credit card, your available credit increases, which can lower your credit utilization ratio. This can be a good thing for your credit score.
- New Account: When you open a new credit card, it becomes part of your credit history. The age of your credit history is a factor in your credit score, so opening a new account can help improve your score over time.
Generally, applying for an Amazon card will have a negligible effect on your credit score. However, there are a few things to keep in mind:
- Your credit score: If you have a low credit score, applying for a new credit card could hurt your score more than it would someone with a good credit score.
- The number of hard inquiries: If you have multiple hard inquiries on your credit report in a short period of time, it can have a negative impact on your score.
- Your credit utilization: If you already have a high credit utilization ratio, opening a new credit card could make it even higher, which could hurt your score.
The following advice will help you reduce the negative effect of applying for an Amazon card on your credit score:
- Check your credit score before you apply. This will give you an idea of where your score stands and how much it might be affected by a hard inquiry.
- Only apply for one credit card at a time. This will help you avoid multiple hard inquiries on your credit report.
- Keep your credit utilization ratio low. Aim to use less than 30% of your available credit.
- Pay your credit card bills on time. This is the most important factor in maintaining a good credit score.
Frequently Asked Questions
Does applying for the Amazon Store Card hurt my credit?
Indeed, if you apply for the Amazon Store Card, your credit report will also be subject to a hard inquiry. However, the impact on your credit score should be minimal.
How can I check my credit score?
You can check your credit score for free from a number of sources, including Credit Karma, Experian, and TransUnion.
What is a good credit score?
A good credit score is generally considered to be 670 or higher.
How can I improve my credit score?
You can raise your credit score in a number of ways, such as by keeping your credit utilization ratio low, paying your bills on time, and challenging any inaccuracies on your credit report.
Additional Resources
Applying for an Amazon card can have a small negative impact on your credit score, but the impact is usually temporary. If you have good credit and are responsible with your credit card usage, the benefits of having an Amazon card can outweigh the risks.
What credit score do you need to get the Prime Visa card?
When approving you for a new credit card, credit card issuers typically consider your income, credit score, credit history, and recent credit applications. Remember that although your FICO credit score is among the most significant, it is not the only one that is taken into account.
- Payment history (35%),%20%E2%80%94%If you have previously made your payments on time
- Amounts Owed%20(30%)%20%E2%80%94%Your%20credit%20utilization%20ratio, or the percentage of the credit you use compared to the amount that has been extended and owed on your accounts
- Credit history length (15%)%20%E2%80%94% The duration of your credit history
- New credit (10%) — How often you open new accounts
- Credit mix percentage (10%)%20%E2%80%94% Whether you have various credit types, like installment loans or revolving credit lines
One of the most popular scoring models, your FICO 8 score, which ranges from 300 to 850, is usually taken into account by issuers. Greater creditworthiness, or the probability that a cardholder will be able to pay their bill on time and in full, is indicated by higher scores.
- Very poor: 300 to 579
- Fair: 580 to 669
- Good: 670 to 739
- Very good: 740 to 799
- Excellent: 800 to 850
For the Prime Visa, youll likely need a good credit score (670 or above) to qualify. Although having a high credit score increases your chances of being approved, it does not guarantee approval.
Maintaining a low credit utilization ratio, limiting the number of credit applications you submit, and making sure other credit payments are made on time and in full are all important ways to keep your FICO score high.
Our top picks of timely offers from our partners
If they’re looking for additional ways to save money, shoppers might want to apply for the Amazon Prime Visa card.
Although only customers who currently have an Amazon Prime membership—which currently costs $139 annually or $14—are eligible for this no-annual-fee credit card 99 per month, with reduced rates for government assistance recipients and students. However, new cardholders can benefit from a substantial welcome bonus that will at least partially offset that cost for the first year: a $100 Amazon Gift Card (or more) that is instantly available to Prime members only.
- RewardsEarn unlimited 5% back at Amazon. com, Amazon Fresh, Whole Foods Market, and on Chase Travel Purchases with an Eligible Prime Membership; unlimited 2% cash back at gas stations, restaurants, and on local transit and commuting (including ridesharing); 2010% cash back or more on a rotating selection of products and categories at Amazon com, unlimited 1% back on all other purchases.
- Welcome bonus: Only Prime members will receive an instant $100 Amazon Gift Card (or more) upon approval.
-
Annual fee
$0 (but Prime membership is required)
-
Intro APR
None
-
Regular APR
19.49% – 27.49% variable
- Remaining balance transfer fee: $5 percent or 4% of each transfer amount, whichever is higher
-
Foreign transaction fee
None
-
Credit needed
Excellent/Good
- Terms apply.
Select has gathered information about the Prime Visa on its own; the issuer has not reviewed or provided any information prior to publication. If you make a purchase using one of our links, Select may receive a commission.
Cardholders also receive unlimited 5% back at Amazon. com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases made with an eligible Prime membership, in addition to an unlimited 2% cashback at gas stations and restaurants, as well as on local transit and commuting (including ridesharing) and 1% cashback for all other purchases Youll also be able to score 10% or more back on Amazon. You won’t have to worry about paying foreign transaction fees when using the card overseas thanks to com’s limited-time offers, which are based on rotating spending categories and products. These reward rates make it the best credit card to use when shopping at Amazon.
Select examines the minimum credit score requirements for the Prime Visa below, along with another Amazon credit card that may enable you to accrue rewards for all of your purchases made through the well-known online retailer.
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