The Amazon Store Card offers a deferred interest period on qualifying purchases. Here’s how it works:
- No Interest if Paid in Full: You won’t be charged any interest if you pay your balance in full within the promotional period (typically 6 or 12 months for purchases of $150 or $600 and above, respectively). Some select purchases may even offer a 24-month deferred interest period.
- Retroactive Interest: If you don’t pay your balance in full by the end of the promotional period, interest will be charged retroactively to your purchase from the date it was made.
- Minimum Payments Required: Even during the deferred interest period, you’re still required to make at least the minimum monthly payment on your balance to avoid late fees and potential account closure.
Important Tips:
- To completely avoid interest charges, ensure you pay your balance in full before the promotional period ends.
- Consider paying more than the minimum amount due each month to reduce your overall outstanding balance and minimize the risk of retroactive interest accumulating.
For help creating a payment plan to avoid deferred interest charges, you can explore tools like Cardreward’s Credit Card Payoff Calculator.
Compare the top Excellent Credit Card Offers - CreditSoup Balance Transfer Cards
As an Amazon Associate I earn from qualifying purchases. Also, I get commissions for purchases or applications made through links in this post. View our full Advertiser Disclosure Here