Essentially the Amazon.co.uk credit card is a MasterCard with an representative example variable rate of 16.9% p.a. However you can collect points and as we all know points make prizes, which in Amazon’s case come in the form of Amazon vouchers.
Initially you’ll earn 3 Loyalty Points for every £1 spent on card purchases made in the first 90 days from account opening and then in the future 2 Loyalty Points for every £1 spent at Amazon.co.uk and 1 Loyalty Point for every £1 spent everywhere else. For every 1,000 Loyalty Points that you earn, you will automatically be emailed a £10 Amazon Gift Certificate. As a welcome bonus A £5 Amazon Gift Certificate will instantly be loaded into your Amazon account when you get your Amazon credit card.
They’re offering all the normal incentives including %0 interest on balance transfers (with a transfer fee) as well as 0% for up to 13 months on all purchases of individual items of £300 or from Amazon, made within 30 days of account opening.
Regardless whether in today’s financial climate 0% interest and deferring payment for major purchases until 2014 is a good idea, that’s the way credit card companies tend to attract new customers so it’s no surprise that Amazon are going down the same route. However credit issues aside, if you’re a frequent Amazon customer the loyalty point scheme makes the card attractive so long as you repay the balance when bills become due.