Amazon’s newest credit card is designed to appeal to consumers who are looking to improve their credit score. It comes with an unusual structure — and some major caveats.
The Amazon Credit Builder card AMZN, +3.38% will function as a secured credit card, but with the same benefits as Amazon’s Store Card. When opening the card, as with any secured card, consumers must make a refundable security deposit with Amazon’s partner on the financial product, Synchrony Bank SYF, -0.49% That deposit will then represent the card’s credit limit. Consumers can establish credit lines ranging from a minimum of $100 to a maximum of $1,000.
