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Amazon launches credit account with Prime-member perks

June 11, 2019 / Tatiana Walk-Morris

Amazon and Synchrony Bank on Monday announced the launch of the Amazon Credit Builder, a credit account which offers Amazon Prime members 5% back on Amazon.com purchases, and equal pay installments plans or financing options on select items, according to information emailed to Retail Dive. To get an Amazon Credit Builder account, customers must maintain a refundable security deposit (via ACH transfer, a check or money order) with Synchrony Bank to secure the full amount of their credit line, according to the release. For shoppers who are on a budget, the card allows them to make purchases on Amazon.com up to their credit limit, and they can access free credit guidance and tools.