What credit cards does Amazon accept?

As the largest online retailer worldwide, Amazon is a convenient and efficient way to shop in the comfort of your home or while on the go. If you're new to Amazon, you may have questions about whether credit and debit cards are accepted as valid payment methods online. Stick around as we give you the inside scoop on all there is to know so you can get back to shopping in no time.

What is an Amazon Prime Membership?

An Amazon Prime membership is a monthly subscription that provides several benefits, including free same-day, one-day, and two-day delivery on eligible Amazon purchases from various categories and access to Prime Video, where Prime members can watch select movies and TV shows.

Another advantage Prime members have is access to new music on the Amazon Music app and free rotating online books for readers.

What are not considered eligible Amazon purchases?

On Amazon, you can purchase millions of products. But, there are some restrictions in terms of what types of products a Prime member can buy and what they can do with their purchases.

For example, if you use your Prime membership to purchase Kindle books, Prime videos, digital music, Prime music, digital games, digital software, or audible audiobooks, you do not have the option of transferring versions of your purchases to another account.

Other restrictions on purchases include medical devices, diagnostic devices, or pesticides. Further, terms apply to gift cards for restaurants and other purchases where you cannot use a shared payment method or transfer your purchases to another account.

Visit Amazon for a full list of conditions and terms that apply to your online purchases.

Credit and debit cards accepted by Amazon

If you've never made an Amazon purchase before, here's a closer look at the credit and debit cards accepted on the site:

• Visa (Amazon Rewards Visa Signature Card included)

• Amazon Store Card

• Amazon Secured card

• MasterCard/EuroCard

• Discover Network

• American Express

• Diners Club (Only U.S. billing addresses accepted)

• JCB

• NYCE

• STAR

• China UnionPay (only credit card accepted)

• Visa, MasterCard, and American Express

• Prepaid credit cards and gift cards

Beyond the credit and debit cards, there are special financing options, including Amazon Monthly Payments, that offer no fees or interest, along with payment plans from third-party companies.

What are the pros and cons of credit cards?

If you're starting your credit card journey, you may be wondering what the pros and cons of credit cards are, which we've outlined below:

Pros

• Using credit cards on Amazon purchases and other purchases can help build your credit over time.

• Depending on the type of credit card you have, you'll be able to earn rewards on eligible purchases you make, which you can cash in for gift cards to gas stations, restaurants, and other credit card perks.

• Credit cards are a payment method that is virtually accepted everywhere online and in-person, making purchases easy and convenient.

• With your credit card, you can get a cash advance for emergency purchases.

Cons

• Unlike debit cards, credit cards can put you in a cycle of debt if you don't spend responsibly.

• Forgetting to pay off your monthly credit bill can hurt your credit score.

• Some credit cards charge high interest rates, making you owe a significant amount more than what you borrowed.

• Depending on the credit card you use, you may be charged an annual fee, foreign transaction fees, and more.

Are credit cards bad for people with bad credit?

The average credit score in Canada is 680, which is considered a good score. And, generally speaking, anything below a 560 is considered bad. If you have poor credit, know that there are credit cards for people with bad credit out there, like the KOHO Prepaid Mastercard, which can help you streamline your plans for spending and saving, while helping you build your credit.

Not sure what your current credit score is? Get a free credit score check and build your credit with KOHO today!

What is a balance transfer on credit cards?

Let's say you have more than one Mastercard or Amazon Visa that you use often. Because these are two different cards, they likely have two different interest rates. Essentially, a balance transfer on credit cards allows you to take your balance from one card and move it to another card that has a lower interest rate. This, in turn, can help you save money on interest, helping you pay your debts off quickly.

What is a pending transaction on my card?

Pending transactions on a credit card simply mean that the purchase has yet to be authorized by your card company. This may be due to it not being reviewed or because there is a hold on your account. Upon approval, the pending transaction will be applied to your account balance.

What is a statement credit?

A statement credit is money that is issued back onto your account from your card issuer, reducing the amount you owe on your next billing period. Statement credits typically occur when you choose to return an order you didn't like.

What is a virtual credit card?

If you've been shopping around for new credit cards, you may have heard of a virtual credit card. So, what is a virtual credit card? And how does it differ from any other Mastercard or Visa? Digital cards allow users to make purchases online, pay for subscriptions, and other remote purchases in a secure and convenient way. Like normal credit and debit cards, they have a card number, CVV, and expiry date. The only difference is that they can't be used for in-person purchases.

What is a secured credit card?

A secured credit card is a type of card that requires customers to put forth a security deposit on their card, which serves as collateral. The deposit on a secured credit card is usually the credit limit amount. In the event you aren't able to pay back the money you spent using the card, your deposit will be seized by your credit card company as a form of payment to make up for your losses.

What was my credit declined?

Unsure what your credit card is being declined? There are a couple of reasons this may be happening, including the following:

• You have insufficient funds on your account.

• There are certain restrictions on your card.

• Technical issues.

• You entered your card information incorrectly.

• Your credit company deemed the transaction suspicious.

If you've noticed that your card has been declined, we recommend reaching out to your credit card company immediately to speak with a representative who can help resolve the issue.

Build your credit with KOHO

At KOHO, we help Canadians take control of their finances. Whether you're looking for a secured prepaid Mastercard that has overdraft protection coverage or a high-interest account that can help you make money on the funds you deposit, KOHO has thoughtful financial products you can customize your financial needs.

Open an account today to kickstart your financial future!