Amazon has launched a credit card for those with little or bad credit.
Partnering with Synchrony Financial, Amazon and the finance giant are offering Amazon Credit Builder to help those with little or bad credit build up their credit with a secured card, along with budgeting tips and tools. The goal with Amazon Credit Builder is for users to eventually graduate to another Amazon Store card once their credit has been built up.
“It’s putting credit in the hands of people in a responsible way,” said Tom Quindlen, Synchrony executive vice president and CEO of the bank’s retail card operation.
As an Amazon Credit Builder cardholder, users will enjoy the same benefits as the Amazon Store Card (promotional financing for cardholders without an eligible Prime membership, and promotional financing or 5% back every day for cardholders with an eligible Prime membership).