Amazon Store Card Minimum Payment Amount for 2023 (2024)
WalletHub is committed to transparency and editorial independence. The information about the following cards has been independently collected by WalletHub: Amazon Store Card
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
As a seasoned financial expert with a wealth of experience in the industry, I have dedicated years to understanding and navigating the intricacies of credit cards, financial services, and the broader landscape of personal finance. My commitment to staying abreast of the latest trends, regulations, and products has equipped me with a comprehensive understanding of the subject matter.
Now, let's delve into the concepts mentioned in the provided article:
WalletHub's Commitment to Transparency and Editorial Independence:
Transparency is a crucial aspect of any credible financial platform. In the context of WalletHub, a commitment to transparency implies that the information presented is open, honest, and free from biases. Editorial independence further ensures that content is not unduly influenced by external parties.
Independent Collection of Information by WalletHub:
WalletHub claims to independently collect information about the mentioned cards. This implies that the platform relies on its own research and data-gathering processes, fostering trust in the accuracy and reliability of the provided information.
WalletHub Answers as a Free Financial Information Service:
WalletHub Answers is positioned as a free service to help consumers access financial information. This suggests a commitment to providing valuable insights without a direct cost to users, emphasizing financial accessibility and education.
Disclaimer on Financial, Legal, or Investment Advice:
The article includes a disclaimer emphasizing that the information on WalletHub Answers should not be considered financial, legal, or investment advice. This is a crucial legal precaution, indicating that users should consult professionals before making financial decisions.
WalletHub's Notable Disclaimers:
Various disclaimers are present throughout the article, highlighting WalletHub's role as an information provider rather than a financial advisor or law firm. These disclaimers serve to manage user expectations and underscore the importance of seeking professional advice.
User-Generated Content and Content Guidelines:
The article mentions that WalletHub members have knowledge to share, and it encourages contributions within content guidelines. This community-driven approach implies that a diversity of insights is welcomed while maintaining quality standards.
Ad Disclosure:
The disclosure about certain offers originating from paying advertisers indicates transparency about potential financial relationships. This is important for users to understand the source of certain content and any potential impact on the information presented.
Not Endorsing Contributors and Quality/Reliability Disclaimer:
WalletHub explicitly states that it does not endorse any particular contributors and cannot guarantee the quality or reliability of posted information. This disclaimer safeguards users by encouraging critical evaluation of the content.
In summary, the provided article emphasizes WalletHub's commitment to transparency, independence, and the provision of valuable financial information. The disclaimers throughout the article underscore the platform's role, limitations, and the importance of user discretion in financial decision-making.
Your minimum payment will include any past due amounts. Your total purchase amount will be divided equally over the applicable number of billing cycles and added to your minimum payment due each month. Depending on the promotion you chose, your minimum payment could be higher than if you did not select Equal Pay.
No interest will be charged on the promotional purchase balance (which includes the purchase amount, taxes, shipping charges and any optional debt cancellation charges related to the relevant purchase) and equal monthly payments are required in the amount of the total initial promotional purchase (including the ...
Typically, you can qualify for Synchrony's Amazon store cards with a fair credit score (580 to 669). On the other hand, you'll likely need at least a good credit score (670 to 739) to qualify for one of the Amazon Visa cards from Chase.
Make a payment by phone: Call Synchrony Bank at 1-866-634-8379. ...
Make a payment by mail: Send a check or money order made out to "Synchrony Bank / Amazon" with the remittance slip from your monthly statement for the amount you wish to pay to the following address:
The minimum payment on a $3,000 credit card balance is at least $30, plus any fees, interest, and past-due amounts, if applicable. If you were late making a payment for the previous billing period, the credit card company may also add a late fee on top of your standard minimum payment.
If your credit card statement balance changes, your minimum payment might change as well. That's because minimum payments are calculated based on what you owe, so they are affected by your monthly spending, interest rates and possible fees.
Each set of features has a different Purchase APR and Late Payment Fee as shown below and may have different rewards available. The Secured Card features include a standard purchase APR of 10% and a Late Fee of $5. The Store Card features include a standard variable purchase APR of 29.99% and a Late Fee of up to $40.
How to Avoid Paying Interest Your due date is at least 23 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. Minimum Interest Charge If you are charged interest, the charge will be no less than $1.50.
Some of the easiest store credit cards to get are the Fingerhut Credit Account, the Montgomery Ward Credit Account, and the Amazon Secured Credit Card. These cards accept people with “bad” credit, and they all have $0 annual fees.
The good news is that even though applying for an Amazon card will hurt your credit, the damage will be minor and won't last long. Your score should bounce back after a few months of responsible credit use. You should strive to always pay on time, and in full if possible.
Since this card has no annual fee (unless you count the cost of your Amazon Prime membership) it can be worth it for earning cash back on your Amazon.ca purchases alone. For non-Prime members, this card makes less sense and there are better cash-back options with no annual fee available.
This may happen as often as every six to 12 months. Keep in mind that your chances of getting a credit limit increase are best if you've made the last six consecutive payments for the account on time. Having a low credit utilization rate also helps, as that shows you're not desperate to borrow more.
The Amazon Secured Card and Amazon Prime Secured Card, issued by Synchrony Bank, are unique credit cards each with two sets of features – the Secured Card features and the Store Card features. The two credit features have some different rates, fees and rewards.
Interest charges add up: Typically, credit companies will charge you high interest rates on unpaid balances. If you only pay the minimum each month, the interest charges can snowball. The additional interest and any other fees are added on to your balance and can increase a lot over time.
As a general rule, credit card issuers determine your minimum payment based on your outstanding balance, but the exact formula can differ. Usually, the minimum payment is calculated as a small percentage of your credit card balance, often 1% to 4%, or a predetermined fixed amount, whichever is higher.
Percentage method: Some credit card issuers calculate the minimum payment as a percentage of your outstanding balance. This percentage typically falls within the range of 1% to 3% but can vary. For example, if your outstanding balance is $500 and the minimum payment percentage is 2%, your minimum payment would be $10.
Introduction: My name is Greg Kuvalis, I am a witty, spotless, beautiful, charming, delightful, thankful, beautiful person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
)
