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7 Amazon Scams and How to Protect Yourself

Amazon (AMZN) - Get Amazon.com, Inc. Report has become the colossus of the retail world, as the company has grown from 40 million Amazon Prime members in 2015 to 80 million members in 2017.

Amazon, which was founded in 1996, raked in a staggering $177.9 billion in net sales in 2017, up ninefold from $19.17 billion in 2008. In comparison, oil-rich Algeria had a gross domestic product of $173 billion in 2017. In fact, the total value of Amazon stock is greater than all but 16 countries.

With all that cash on the table, it's no surprise that scammers, fraudsters and identity thieves have gravitated to Amazon's burgeoning orbit. From phishing-based email scams to Amazon seller fraud, there's no shortage of ways to lose money when immersed in the Amazon experience.

The good news is there are ways to defend yourself against Amazon fraud, in all of its variations. All it takes is some knowledge of what you're up against, a few strong fraud detections and prevention tips, and the discipline to keep fraudsters well away from you and your family.

Here's how to do just that.

What Is an Amazon Scam?

There is no one, single Amazon scam that rules them all.

That said, one universal theme about Amazon scams is that fraud artists are using the digital retail platform in creative ways to separate you from your money.

The most likely way to be defrauded on Amazon is through phony sellers, who set up fake accounts to lure buyers in and take their money, without delivering the goods that were promised.

But it's not the only way. Gift card scams, Amazon job offer fraud, and email hacking scams are also high on the list of ways you can lose money from Amazon fraud - among other digital threats.

Top 7 Amazon Scams

Let's examine the most common - and threatening - ways Amazon fraud can strike and provide some tips to keep Amazon fraudsters at bay.

1. Gift Card Scams

Amazon continues to deal with a nefarious scheme - gift card scams. Here, fraudsters reach out to Amazon consumers via email, phone or social media and offer deeply discounted deals on not only Amazon gift cards, but gift cards from third-party providers (like banks and credit card providers.) Often, the message comes with a call for urgency, i.e., the fraudster says he's about to lose his home or have his car repossessed, and offers goods that can be purchased at a steep discount with Amazon gift cards, and by gift cards that are sold on Amazon. Don't fall for it. Amazon gift cards can only be used on Amazon, and never can be used as a legitimate payment to other businesses and individuals.

To avoid this scam: Simply ignore the caller or emailer, and never use Amazon gift cards with companies and people outside Amazon.com. Additionally, never provide the claim code on an Amazon gift card to someone you don't know - they'll use it to steal the gift card long before you can get law enforcement involved.

2. Bogus Online Listings

In this scam, fraudsters claiming to be an Amazon seller, once again approach potential victims offering deeply discounted goods and services. The catch is that to make the purchase, the seller is only accepting Amazon gift cards as payment. When you make payment for the purchase, the goods never arrive, and you can't reach the seller to ask for your money back.

To avoid this scam: Any Amazon purchase engagement can only be made on the actual Amazon platform, either via the website or mobile app. Since no legitimate Amazon purchase can occur off of the Amazon platform, delete emails and hang up the phone if contacted by a fake Amazon seller.

3. The Amazon Job Offer Scam

Amazon pays its employees well (and works them hard), so landing a job for a person who places a premium on salary is a pretty big deal. Amazon job scammers leverage the demand for Amazon jobs by posting false employment advertisements or phoning potential job applicants with offers to work for Amazon. The catch on this scam? The fraud artist will ask for an up-front processing or finder's fee, usually requiring a credit card, bank account number, or even an Amazon gift card.

To avoid this scam:

Amazon.com jobs are always posted on Amazon.com/jobs, and there is never any upfront fee to apply or interview for one.

4. The Amazon Phishing Scam

Phishing-related Amazon scams are particularly dangerous, as the fraud artist's aim is to hide behind the Amazon brand to steal your Social Security number, bank account number, or credit card. Here's how it works. A scammer contacts you via email, claiming to be a customer service representative from Amazon.com. They'll note that your personal data needs to be updated on the Amazon website, or that a recent purchase can't be completed unless you confirm your personal data. They'll ask you to click on a link and transmit that data, which in turn takes that data and steers it toward a fraudster's digital device, resulting in the loss of key personal financial information, which paves the way for financial fraud.

To avoid this scam: Amazon.com covers phishing fraud on its website - here's what the company says. "Amazon will never send you an unsolicited e-mail that asks you to provide sensitive personal information like your social security number, tax ID, bank account number, credit card information, ID questions like your mother's maiden name or your password. If you receive a suspicious e-mail please report it immediately."

5. The Discount Voucher Scam

This common Amazon scam purports to "reward" you, a loyal Amazon customer, with a company discount voucher. The message is usually delivered via email, where the sender has you click on a link to get your voucher reward. Often the message reads "This $1,000 Amazon gift card is reserved for you." But instead of getting the gift card, all you're doing is providing the scammer with your personal data which he or she will use to steal your identity or to access your personal financial accounts and make off with your money.

To avoid this scam: Amazon doesn't offer deeply discounted "thank you" offers or $1,000 gift cards, unsolicited, and by email. Just delete any suspicious emails offering Amazon rewards.

6. The "Write an Amazon.com Review" Scam

Any offer to write an Amazon.com review, and get paid $50 to $100 for doing so, should be ignored and avoided. The scam usually pops up after a big retail buying period, like Amazon.com Prime Day (in July) or around the December holidays. Usually delivered via email, the message offers monetary compensation for writing an Amazon.com review. In reality, the recipient is steered to a fake Amazon.com site (which looks remarkably like the actual Amazon.com site), where their passwords, usernames, and other personal data is stolen and used to commit identity theft.

To avoid this scam: Amazon doesn't pay people to write site reviews and doesn't ask for your password or username in any customer engagement situation. If you see a "write an Amazon review" email, hit that delete button.

7. The "Fake Product" Amazon Scam

This Amazon scam afflicts site buyers who believe they're purchasing a genuine, brand name product only to find that the product is a rip-off and nowhere near worth the money paid for it. Counterfeit sellers are a fact of life on Amazon and, even though the company does solid work in vetting and kicking fake sellers off the site, too many bogus sellers slip through the cracks and into the Amazon.com platform.

To avoid this scam: Before you hit the "add to cart" or "buy with one click" button, do your due diligence and check out the seller's feedback and reviews. If there's anything remotely suspicious about the seller, or any red flags, keep looking for a reputable Amazon seller you can trust.

Use Amazon Wisely

By and large, Amazon.com shoppers can expect to have a good, reliable experience shopping on the site, and engaging with Amazon.

Just avoid the potentially fraudulent scenarios listed above, and keep your personal data, and your money, safe and out of reach from Amazon fraud artists.

Источник: https://www.thestreet.com

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Terms

IMPORTANT DETAILS ABOUT OFFERS AND BENEFITS OF AMAZON CREDIT CARDS ISSUED BY SYNCHRONY BANK:

  • THE AMAZON.COM STORE CARD AND AMAZON PRIME STORE CARD (EACH, AN “AMAZON STORE CARD”)
  • AMAZON SECURED CARD AND AMAZON PRIME SECURED CARD (EACH, AN “AMAZON SECURED CARD” OR “SECURED CARD”)

Amazon Store Cards and Secured Cards are issued by Synchrony Bank. If you have questions about any of these cards, call 1-866-634-8379, available 24 hours a day. Amazon Store Card accounts and Secured Card accounts may be used for most purchases at Amazon.com and select physical Amazon stores that accept such card accounts as payment options (see About Amazon.com Store Card Restrictions for a complete list of exceptions). In addition, Amazon Store Card accounts, and Amazon Secured Card accounts opened before January 1, 2021, may be used for purchases from other merchants who have enabled such card accounts as payment options using Amazon Pay.

1. Limited Time Offer Details. Upon approval of an Amazon Store Card application, an Amazon Gift Card with the value described above will be loaded into your Amazon.com account. Amazon Gift Cards are issued by ACI Gift Cards, Inc., a Washington Company. See Amazon Gift Card Terms and Conditions for complete terms and conditions.

2. Amazon Store Card Accounts. The Amazon.com Store Card is available to customers with an Amazon.com account, subject to credit approval. The Amazon Prime Store Card, an upgrade from the Amazon.com Store Card, is available to customers with an Eligible Prime Membership only, subject to credit approval. Special financing and equal monthly payments offers may apply to purchases made using an Amazon Store Card. The 5% back benefit may apply to purchases (less returns and other credits) made using an Amazon Store Card (i) when signed into an Amazon.com account with an Eligible Prime Membership, or, (ii) in the case of the Amazon Prime Store Card, when signed into any Amazon.com account so long as the cardholder maintains their Eligible Prime Membership on the Amazon.com account from which they originally applied for the Amazon Store Card, in each case including 1-Click orders and purchases made at physical Amazon locations (in all cases, where 5% back is selected as the default option or where special financing or equal monthly payments is selected as the default option but is not available for the particular purchase).

3. Amazon Secured Card Accounts. The Amazon Secured Card is available to customers with an Amazon.com account, subject to credit approval. The Amazon Prime Secured Card, an upgrade from the Amazon Secured Card, is available to customers with an Eligible Prime Membership only, subject to credit approval. Equal monthly payments offers may apply to purchases made using the Amazon Secured Card. In addition, special financing offers may apply to purchases made using an Amazon Secured Card account opened before January 1, 2021. For Secured Card accounts opened after January 1, 2021, the 2% back benefit may apply to purchases (less returns and other credits) made using an Amazon Secured Card (i) when signed into an Amazon.com account with an Eligible Prime Membership, or, (ii) in the case of the Amazon Prime Secured Card, when signed into any Amazon.com account so long as the cardholder maintains their Eligible Prime Membership on the Amazon.com account from which they originally applied for the Amazon Secured Card, in each case, including 1-Click orders and purchases made at physical Amazon locations (in all cases, where 2% back is selected as the default option or where equal monthly payments is selected as the default option but is not available for the particular purchase). For Secured Card accounts opened before January 1, 2021, the 5% back benefit may apply to purchases (less returns and other credits) made using an Amazon Secured Card (i) when signed into an Amazon.com account with an Eligible Prime Membership, or, (ii) in the case of the Amazon Prime Secured Card, when signed into any Amazon.com account so long as the cardholder maintains their Eligible Prime Membership on the Amazon.com account from which they originally applied for the Amazon Secured Card, in each case, including 1-Click orders and purchases made at physical Amazon locations (in all cases, where 5% back is selected as the default option or where special financing or equal monthly payments is selected as the default option but is not available for the particular purchase).

4. How The Two Sets of Features of the Secured Card Work. Secured Card accounts have two sets of features: The Secured Card features and the Store Card features. 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 25.99% and a Late Fee of up to $38. These APRs and fees are accurate as of 01/15/2021. The purchase APR under the Store Card features will vary with the market based on the Prime Rate (as defined in the credit card agreement).
  • Upon approval, you will only be able to access the Secured Card features. To access the Secured Card features, you will be required to provide Synchrony Bank with a security deposit, the amount of which will equal the credit limit on your account.
  • After you have been an accountholder for 12 months, Synchrony Bank will consider whether you are eligible to opt in to access the Store Card features of the account based on specific eligibility criteria and your credit profile. If you are eligible, Amazon will notify you and provide you with important information to help you decide whether to retain the Secured Card features or convert to the Store Card features. The Store Card features do not require a security deposit, but has a higher Purchase APR and Late Payment Fee and may have different rewards.
  • If you choose to convert to the Store Card features:
    • ✓ Your access to the Secured Card features will be permanently disabled.
    • ✓ Your security deposit will be returned, minus the amount needed to pay off any: (a) existing non-promotional balance, (b) expiring (within 2 months) deferred interest promotional balances and required payment due on an equal monthly payments balance, and (c) remaining minimum payment due on the account if not covered by (a) and (b) above
    • ✓ Synchrony Bank will provide you with a replacement card and card number to access the Store Card features. Your new card will be automatically added to your Amazon wallet.

5. Updating from the Amazon.com Store Card to the Amazon Prime Store Card or from the Amazon Secured Card to the Amazon Prime Secured Card. At the time you become both (i) a cardholder of an Amazon.com Store Card or an Amazon Secured Card and (ii) a customer with an Eligible Prime Membership, your card will automatically be updated to the Amazon Prime Store Card or Amazon Prime Secured Card, respectively. “Eligible Prime Memberships” only apply to Amazon.com accounts (and not accounts on any other affiliated websites outside the U.S.) and may include, in Amazon’s sole discretion: annual and monthly Amazon Prime subscriptions and members of their Amazon Household (excluding Amazon Prime Video and invited guests of an Amazon Prime account), Amazon Prime Fresh, Amazon Family, Amazon Prime Student and trial memberships of Amazon Prime. The Amazon Prime Store Card and Amazon Prime Secured Card are governed by the same Synchrony Bank terms and privacy policy as the Amazon.com Store Card and Amazon Secured Card, respectively. If you cease to be a customer with an Eligible Prime Membership, your Amazon Prime Store Card or Amazon Prime Secured Card, as the case may be, will be changed back to an Amazon.com Store Card or an Amazon Secured Card, respectively, without any change to the set of features applicable to your account.

6. Important information about your benefits and offers. To view or adjust your default option between % back (if available), special financing (if available) or equal monthly payments, visit www.amazon.com/storecard (for Amazon Store Card accounts or Secured Card accounts that have converted to the Store Card features) or www.amazon.com/securedcard (for Secured Card accounts that have not converted to the Store Card features), sign in to ‘Your Account’ (if not already signed in), and select the radio button for your desired option. Your default option will also be applied to your 1-Click orders and purchases made at physical Amazon locations. If your default option is special financing or equal monthly payments and neither is available for a specific purchase, then (if available) the applicable % back benefit, if any, will apply. The % back benefit cannot be combined with any special financing or equal monthly payments offer. You will have the option to apply the applicable % back benefit (if available) or the longest available equal monthly payments or special financing offer(s) displayed during checkout to your purchase. If your default benefit is equal monthly payments or special financing, and multiple equal monthly payments or special financing offers are available for a specific purchase, the equal monthly payments or special financing offer, as applicable, with the longest available promotion length will apply. If special financing was your default benefit prior to June 26, 2019, then from and after that date, equal monthly payments will automatically become your default benefit; to change your default benefit, visit www.amazon.com/storecard, sign in to ‘Your Account’ (if not already signed in), and select the radio button for your desired option. If no change is made during the checkout process, and your default benefit is available for your purchase, your default benefit will be applied to your purchase.

7. % Back Benefit. All purchases (less returns and other credits) to which the % back benefit applies will result in your receiving rewards points equal to the applicable % of such purchases on your Amazon Store Card or Secured Card, as the case may be, except as provided below. We may, from time to time at our discretion, supplement the % back benefit by offering bonus rewards points for certain purchases. In such cases, the total rewards points offered for such purchases will be noted on the relevant product page or during checkout, and this section will apply to the % back benefit inclusive of any bonus rewards points. The % back benefit cannot be combined with any special financing or equal monthly payments offer; you will have the option to apply either (a) any available special financing or equal monthly payments offer or (b) the % back benefit, but not both, to your purchase. If no selection is made during the checkout process, your default option will be applied to your purchase, provided such default option is available. The % back benefit is the default option for all purchases of less than $150. We reserve the right to remove any person from the % back benefit in the event of any fraud or abuse in connection with the benefit. We reserve the right to discontinue or alter the terms of the % back benefit at any time.

8. Rewards Points and Redemption. You may see rewards points referred to simply as rewards and reflected as a dollar balance (versus a points balance), with $1 of rewards being equivalent to 1 rewards point. You may redeem your rewards points for eligible purchases at Amazon.com. Alternatively, you may also elect to either (a) redeem your rewards points as a one-time statement credit or (b) automatically redeem your available rewards points balance as a statement credit at the end of each subsequent billing cycle, in each case by visiting your Synchrony Bank online account management page (www.syncbank.com/amazon) or by directly contacting Synchrony Bank. Your Amazon Store Card or Secured Card account must be open and in good standing to redeem rewards points and at the time any statement credit is posted to that account. If your Amazon Store Card or Secured Card account is closed, you will forfeit any unredeemed rewards points. Please allow up to two billing cycles (a) for your earned rewards points to be credited to your Amazon Store Card or Secured Card account and (b) if you elect to redeem your rewards points as a statement credit, for such statement credit to be applied to your Amazon Store Card or Secured Card account. If any of the products related to your original order are returned, subject to Amazon’s returns and refunds policies, you will receive any refund due to you by first refunding the amount charged to your card and, if any refund is still due, then by the return of rewards points. If a refund of your rewards points cannot be processed by Synchrony Bank for reasons including, but not limited to, closure of your Amazon Store Card or Secured Card account, then Amazon will issue an Amazon Gift Card to you for an amount equal to the value of the rewards points used towards your returned purchase. If you return a purchase made with rewards points, allow up to 5 days for the value of the rewards points redeemed to be credited back to your account.

9. SPECIAL FINANCING AND EQUAL MONTHLY PAYMENTS: These offers are subject to credit approval.

  • For Amazon Store Card accounts and Secured Card accounts that have converted to the Store Card features: The standard variable purchase APR is 25.99% and is accurate as of 01/15/2021 and will vary with the market based on the Prime Rate (as defined in your credit card agreement). Minimum interest charge is $1.50.
  • For Secured Card accounts that have not converted to the Store Card features: The standard purchase APR is 10%. Minimum interest charge is $1.50.

Existing cardholders should see their credit card agreement for their applicable terms. We reserve the right to make special financing and/or equal monthly payments unavailable on any purchase at any time in our sole discretion; in such cases, and if special financing and/or equal monthly payments would otherwise have been available, we will notify you of such unavailability prior to or during checkout. We reserve the right to discontinue the special financing and equal monthly payments offers or alter the terms applicable thereto at any time.

Special financing offers: No interest if paid in full within 6, 12 or 24 months. Available using Amazon Store Card accounts, Secured Card accounts opened prior to January 1, 2021, and Secured Card accounts that have converted to the Store Card features (each, a ‘Special Financing-Enabled Card account’). Interest will be charged to your Special Financing-Enabled Card account from the purchase date if the promotional balance is not paid in full within 6, 12 or 24 months respectively. Minimum monthly payments required. If products are eligible for a special financing offer, such eligibility, together with the applicable promotion length, will be noted during checkout. The special financing offer will apply to the qualifying product, and all other items in the same order, when payment is made using a Special Financing-Enabled Card account. No interest will be assessed on the promotional balance if you pay the promotional balance in full within the applicable promotional period. If you do not, interest will be assessed on the promotional balance from the date of the purchase. Promotional balance includes the purchase amount, taxes, shipping charges and any optional debt cancellation charges related to the relevant purchase. The subtotal, which excludes shipping, handling and taxes, is used in determining whether the applicable minimum purchase amounts shown above have been met. If Amazon-sold products are eligible for 24 months special financing, such designation will be noted during checkout. If you have chosen special financing as your default payment option and special financing is available on your purchase, 1-Click orders and purchases made at physical Amazon locations will default to the special financing offer with the longest promotion length for which the purchase is eligible. Special financing offers cannot be combined with any equal monthly payments offer or the % back benefit. If your purchase includes a recurring subscription, then the first month’s subscription fee (but not any subsequent monthly subscription fees) will also be included in the promotional purchase balance. Your first Subscribe and Save order using a Special Financing-Enabled Card account is eligible for a special financing offer; subsequent Subscribe and Save orders are not. Depending on purchase amount, promotion length, and payment allocation, the required minimum monthly payments may or may not pay off the purchase by end of promotional period. Regular account terms apply to non-promotional purchases and, after this special financing promotion ends, to promotional purchases. Special financing offers are not available on Amazon Secured Card or Amazon Prime Secured Card accounts opened after January 1, 2021 while the Secured Card features are being accessed.

Equal monthly payments offer: Pay for your purchase of eligible products with equal monthly payments and 0% APR. Available using all Amazon Store Card accounts and Secured Card accounts (each, an ‘Equal Monthly Payments-Enabled Card account’). 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 purchase amount, taxes and shipping charges) divided by the designated number of equal monthly payments, until the promotional balance is paid in full. If you do not make a required equal monthly payment on time, a late fee may be added to the minimum amount otherwise due on your Equal Monthly Payments-Enabled Card account in the following billing cycle; such late fees will accrue interest at the applicable standard purchase APR listed above. If products are eligible for an equal monthly payments offer, such eligibility, together with the designated number of equal monthly payments, will be noted during checkout. The equal monthly payments offer will apply to the qualifying product, and all other items in the same order, when payment is made using an Equal Monthly Payments-Enabled Card account. Optional debt cancellation charges will not be included in the calculation of the equal monthly payment, but such charges may require you to make payments for additional months. The equal monthly payment may be higher or lower than the minimum payment that would be required if the purchase was a non-promotional purchase. The equal monthly payment calculated will not be increased to but may be included in the minimum amount otherwise due on your account or will be added to your minimum payment for other balances on your account. If you have chosen equal monthly payments as your default payment option and equal monthly payments is available on your purchase, 1-Click orders and purchases made at physical Amazon locations will default to the equal monthly payments offer with the longest promotion length for which the purchase is eligible. Equal monthly payments offers cannot be combined with any special financing offer or the % back benefit. A monthly payment, if shown in advertising, should allow you to pay off the qualifying purchase (excluding taxes, shipping charges, or optional debt cancellation charges) within the promotional period if: (1) the purchase is and will be the only balance on the account during the promotional period (this means that you do not incur any additional fees or charges on your account and no other items are purchased with this order), (2) you make the payment by the due date each month, and (3) the purchase is subject to the equal monthly payments offer. Taxes and shipping charges imposed at checkout on this order will require you to make a higher monthly payment than shown. The monthly payment calculated for each equal monthly payments offer will be added to your minimum payment for other balances on your account, and will only apply if the equal monthly payments offer advertised is selected or set as the default benefit on your account. Amazon may designate any product as eligible for an equal monthly payments offer, and may designate the number of equal monthly payments associated with such equal monthly payments offer, in its sole discretion. If your purchase includes a recurring subscription, then the first month’s subscription fee (but not any subsequent monthly subscription fees) will also be included in the promotional purchase balance.

10. No Annual Fee. There is no annual fee associated with an Amazon Store Card or Secured Card account. See the APR for new accounts at the beginning of the special financing and equal monthly payments section above.

11. Zero Fraud Liability. You will not be held liable in the event of unauthorized use. You agree that unauthorized use does not include use by a person to whom you have given authority to use your Amazon Store Card or Secured Card account, as the case may be, and that you will be liable for all use by such a person.

Источник: https://www.amazon.com/iss/credit/storecardmember

If you’re a faithful Amazon.com shopper, you’ve probably at least considered the Amazon Store Card. Created for Amazon Prime shoppers, this card makes it easy to earn 5% back on whatever you buy at the online superstore. On the flip side, you can also choose to forgo the 5% back and stretch out your payments with zero interest over several months instead.

Like most store credit cards, the Amazon store card doesn’t charge an annual fee. However, it’s only good for Amazon.com purchases, and can’t be used just anywhere. Still, with free cash back and no fee, what’s not to like?

Like any other financial product, the devil is in the details when you look at how the Amazon Store Card works. Here’s a basic rundown of the Amazon card’s myriad financing options, along with how they can help you save.

How the Amazon Store Card Works

With the Amazon Store Card, you’ll earn:

  • 5% back on total cart purchases up to $149
  • 5% back or 6-month financing on purchases of $149 or more
  • 5% back or 12-month financing on purchases of $599 or more
  • 5% back or 24-month financing on select Amazon-sold items

In addition to these options, you can also enjoy 0% APR on specific Amazon purchases if you opt to make 12 equal monthly payments. This can come in handy if you plan to make a large Amazon.com purchase (holiday shopping, maybe?), but want to pay it off gradually without paying interest all along.

That all sounds great, but the fine print reveals the real kicker. Sure, you get 0% APR for a limited time, but because of the way interest is compounded and charged, you’ll be in for a rude awakening if you don’t pay your purchase in full by the time your promotional period is over.

If your balance doesn’t hit zero before the promotional period ends, you’ll owe backdated interest on the entire purchase. Worse, the Amazon Store Card comes with an APR of 26.24%!

In other words, failing to pay your balance in full before the 0% financing period ends means you’ll owe interest from the day you made the purchase. If you know anything about credit, you already know what a huge downside this is. And really, this should probably be a deal-breaker unless you’re 100% certain you can pay your purchase in full within the promotional timeline.

Another Option: Consider the Amazon.com Credit Card

If you’re not too keen on the way interest accrues with the Amazon Store Card, you can always consider the Amazon.com credit card instead. This card offers 3% back on Amazon.com purchases, 2% back at gas stations, restaurants, and drug stores, and 1% back on all other purchases.

Another important difference is that you don’t have to be an Amazon Prime member to apply. And like its store card counterpart, the Amazon.com credit card doesn’t charge an annual fee, either. Better yet, you can use the Amazon credit card anywhere Visa is accepted – and not just at Amazon.com.

And since it’s a traditional credit card, interest only accrues on actual balances you owe. Plus, the standard APR falls within a more reasonable range of 14.49% to 22.49%, based on your creditworthiness. That’s not great, but it’s better than the 26.24% APR the Amazon.com Store Card offers.

As a potential downside, you’ll only earn 3% back on Amazon.com purchases instead of the 5% you would earn with the store card. If you spend a lot on Amazon.com, the difference in earnings could be substantial.

A Better Option for Amazon.com Purchases?

Still, Amazon.com doesn’t have the market cornered on credit cards for their website. With Discover it® Cash Back, you get 1% unlimited cash back automatically on every purchase you make. The kicker is, you also get 5% cash back at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate.

The Discover it® Cash Back offers your free FICO score on your monthly statement and no foreign transaction fees. That’s a pretty sweet deal for a card that offers amazing rewards.

Too long, didn’t read?

If you’re thinking of signing up for the Amazon.com Store Card, make sure to consider the alternatives that are out there. While it’s true 5 percent back is hard to beat, other rewards credit cards are fairly generous when it comes to Amazon.com purchases, too.

Do you have the Amazon Store Card or the Amazon.com credit card? Why or why not? What alternatives do you use instead?

Please Note: Information about the Discover it® Cash Back have been collected independently by TheSimpleDollar.com. The issuer did not provide the details, nor is it responsible for their accuracy.

Editorial Note: Compensation does not influence our recommendations. However, we may earn a commission on sales from the companies featured in this post. To view our disclosures, click here. Opinions expressed here are the author’s alone, and have not been reviewed, approved or otherwise endorsed by our advertisers. Reasonable efforts are made to present accurate info, however all information is presented without warranty. Consult our advertiser’s page for terms & conditions.

Holly Johnson is a frugality expert and award-winning writer who is obsessed with personal finance and getting the most out of life. A lifelong resident of Indiana, she enjoys gardening, reading, and traveling the world with her husband and two children. In addition to The Simple Dollar, Holly writes for well-known publications such as U.S. News & World Report Travel, PolicyGenius, Travel Pulse, and Frugal Travel Guy. Holly also owns Club Thrifty.

Источник: https://www.thesimpledollar.com/credit-cards/should-you-get-the-amazon-store-card/

How did Amazon know my new Visa card information before me?

I was Christmas shopping on Amazon and realised there was a payment card on my account that I had never seen or used before. I only have one card registered and, although it was due to expire at the end of the month, it was still valid.

Amazon told me the new card had been added to my account on 12 December, but couldn’t explain to me how.

I knew that my bank was due to send a new card to my mum and dad’s address and planned to collect it when I visited at Christmas. When it arrived, I asked my mum to open the letter on my behalf, and it turned out the last four digits and the expiry date matched the card on my Amazon account.

I rang my bank, NatWest, and it told me that I should speak to Visa. I rang Visa and was promptly redirected back to NatWest. Amazon was no help at all. I find it quite worrying that Amazon could get my new bank card details before I had them. IA, Southport

NatWest’s press office agrees that this is “odd” and Amazon’s has to do some digging. None of us, it seems, were aware of VAU – Visa Account Updater. This allows subscribing merchants to receive automatic updates to cardholder account information, including account numbers and expiry dates. It sounds ominous, but the idea is to save retailers – and customers – the hassle of recurring payments being declined when a registered card has expired. All companies that subscribe must adhere to the Payment Card Industry Security Standards to ensure the stored data is protected. Mastercard operates a similar scheme. It’s been around since 2006 and most major retailers who offer recurring payments by card use it. The reason so few of us know of it is because its existence is buried in the terms and conditions of the card issuer. If you want to opt out, you have to do it via your bank.

If you need help email Anna Tims at [email protected] or write to Your Problems, The Observer, Kings Place, 90 York Way, London N1 9GU. Include an address and phone number.

Источник: https://www.theguardian.com/money/2017/jan/12/how-amazon-know-new-visa-card-information-before-me-natwest

This one I learned the hard way.

I was interested in applying for one of the Amazon 5% back cards. There is the Chase credit card version and the Synchrony store card version.

Only Prime members earn 5%. Since my Prime account is an invitee/secondary Prime account (it gets 2-day shipping but doesn’t get video benefits), I chatted with Amazon to clarify whether the account is eligible for 5% cash back or if I’m stuck at 3%.

Amazon confirmed with me via chat that my account will get 5% back. This is more or less how it went:

Me: Can you confirm whether my Amazon account is eligible to earn 5% cash back on all purchases if I would apply for the Amazon credit card from Chase? I have a Prime account, but my account doesn’t have video privileges, so I just want to confirm that it can still get the 5% if I’d get the Amazon credit card from Chase.
Amazon: In this case I have checked and confirmed that your account is eligible for the 5% cash back.
Me: I see, thanks. And that would be true whether I got the Chase version or the Synchrony version?
Amazon: Yes you just need to have the Amazon store card.
Me: Wait, there are two versions. So can you confirm that I’ll get the 5% with either one?
Amazon: Yes you can use any of them and you will still get the 5% cash back.

Unfortunately, this is incorrect information. After receiving the Chase Amazon card, I added it to my Amazon account only to learn that it only earns 3%. The earning amount shows clearly in the Amazon account next to the card.

Chatting and calling Amazon a few times hasn’t gotten anywhere other than an acknowledgment that my account is not eligible for 5% and the previous information was wrong.  🙁

Only the main Prime member gets 5%. Presumably, this will be the same with the Synchrony version of the card too. I should note that mine is a grandfathered version of the secondary Prime account. It’s possible that it’ll work differently with the newer version where the two accounts are more connected.

Now, I’ll either have to cough up the $99 for Prime membership or live without the 5%. I did file a CFPB complaint, we’ll see how that goes. The complaint is going to Chase and they didn’t do anything wrong, so I’m not too hopeful. Maybe a BBB complaint, who knows.

Aside from not getting 5%, I also got the $50 Amazon gift card signup bonus instead of the $70 one.

Important update: From the comments and from this Amazon page it’s clear only grandfathered Prime secondary members don’t get the 5%. But if you are a secondary Prime member on the newer version of Amazon Household (Prime can be shared with one household member who gets full Prime benefits), the secondary member will get 5%.

Using Amazon Card on non-Prime Account

In a related question: what happens if you use your Amazon 5% card in an a different Amazon account which does not have prime? For example, your spouse uses your 5% card in their own Amazon non-Prime account. Will you get 5% for the purchase?

According to reader Ryan once the card is successfully linked to a Prime account and earns 5% there, it will then earn 5% even when it’s used on a different, non-Prime Amazon account.

Источник: https://www.doctorofcredit.com/secondary-prime-accounts-get-5-cash-back-amazon-credit-card/

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