New credit card started by Amazon

Amazon began offering Amazon Credit Builder, a new credit card, in the US market.

Amazon Credit Builder is for those who want to raise their credit score. The credit score is a measure of individual creditworthiness based on credit card delinquency history, holding bank account holdings, and usage history. In the United States, credit scores are a major determinant of your life. Not only the credit card acquisition, but also the loan interest rate and the lease of the room. It also affects employment. To live wisely in America, you have to earn not only cash but also credit scores.

Amazon CreditBuilder is like the Amazon Score Card in that Amazon Prime members redeem 5% points when they buy certain items. However, Amazon CreditBuilder holders can view their credit scores and access information such as how Amazon earns credit scores and how their credit scores change depending on their actions.

You must pay a deposit before you can use Amazon Credit Builder. Deposits can be set directly from $ 100 to $ 1,000, but the payment guarantee will be the credit line of Amazon Credit Builder. The deposit can be refunded after the payment is settled.

Amazon CreditBuilder will also be able to borrow up to six months for less than $ 599 for over $ 149, 12 months for $ 599 to $ 799, and 24 months for more than $ 799. However, if the period expires, you will be charged a real annual average 28.24% interest rate, which is higher than a typical US credit card. For more information, please click here .