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Amazon Offers Its Own Credit-Building Rewards Card

Photo Credit: Fumiaki Yoshimatsu via Flickr cc

Amazon has announced a new secured credit card called Amazon Credit Builder. The card is meant for those who are looking to build their credit history after a bout of bad credit, or for those who have no credit. The card has no annual fee and offers special financing on purchases and protection from unauthorized charges. It also has 5 percent cash back on purchases for Prime members.

As a secured card, Amazon Credit Builder requires that cardholders submit a refundable security deposit in order to get a line of credit from the bank. This funding isn’t available for purchases made with the card, but rather serves as a way to establish a credit limit.

Read more at TechCrunch.