 TITLE: What You Need to Know About Amazon’s Secured Card CONTENT: How Amazon Credit Builder Works\n-------------------------------\nAmazon.com offers two different versions of its Credit Builder account, the Amazon.com Store Card Credit Builder and Amazon Prime Store Card Credit Builder. Both are issued by Synchrony Bank. Like Amazon's standard Store Card and Prime Store Card, these accounts only allow you to make purchases from Amazon.com, as they are not part of a payment network such as Visa, Mastercard or American Express.\nInstead of offering an unsecured credit line, the Credit Builder cards require you to submit a refundable security deposit before your account can be opened. The size of your security deposit becomes the amount of available credit that you can spend at Amazon.com.\nIf you have an Amazon Prime membership, then you can receive the Amazon Prime Store Card Credit Builder, which offers you 5% back on all purchases or a promotional financing offer. Otherwise you'll receive the Amazon.com Store Card Credit Builder, which doesn't offer rewards. Either way, there's no annual fee for these cards.\nOnce you start using your Amazon.com Store Card Credit Builder or Amazon Prime Store Card Credit Builder, it will work just like any other store credit card. You'll receive a monthly statement and be required to make at least a minimum monthly payment on the account. And if you don't pay your entire statement balance in full, then you'll incur interest charges.\nAmazon will report your balance and payment information to the major consumer credit bureaus (Experian, TransUnion and Equifax). And with responsible use, the card will add to your positive credit information and you could see your credit score climb. Eventually, you could even be eligible to upgrade your card to a standard unsecured card and receive your deposit back. END