Can I get a Amazon Credit Card with 550 credit score?
Maria Adams, Credit Cards Moderator
Approval odds
Typically, you can qualify for Synchrony's Amazon store cards with a fair credit score (580 to 669). On the other hand, you'll likely need at least a good credit score (670 to 739) to qualify for one of the Amazon Visa cards from Chase.
The best store credit cards for bad credit are the Montgomery Ward Credit Account and the Amazon Secured Credit Card. Both of these store credit cards accept applicants with bad credit scores, have $0 annual fees, and report to the major credit bureaus. They don't have a whole lot of competition, however.
The Amazon Secured Card is built for people who are new to credit, or who would like to rebuild their credit. This card has no annual fee, can be used at Amazon.com and Amazon physical stores, and your payment activity is reported to major credit bureaus to help you build a credit history.
One of the best credit cards for a 550 credit score is the OpenSky® Plus Secured Visa® Credit Card because it has a $0 annual fee and there's no credit check when you apply, so approval is almost guaranteed. You just need $300 for a refundable security deposit and enough income to make monthly payments.
While you technically can get approved for a loan with a 550 credit score, you'll likely face more challenges and pay significantly more for the loan than if your score was higher. Most lenders won't consider borrowers with scores less than 580 – but you may still be able to find one if you know where to look.
The Amazon Credit Card and the Prime Visa are fairly hard to get because you need at least good credit (a 700+ credit score) to have good approval odds.
The OpenSky® Plus Secured Visa® Credit Card is the easiest credit card to get approved for because there's no credit check for new applicants. In addition to being easy to get, the OpenSky Plus Card has a $0 annual fee and reports to the major credit bureaus, making it easy to save money and build credit.
You can prequalify online for Amazon store card through Synchrony Bank. The Amazon Visa may be another story. It's handled by Chase Bank.
Your score falls within the range of scores, from 300 to 579, considered Very Poor. A 550 FICO® Score is significantly below the average credit score. Many lenders choose not to do business with borrowers whose scores fall in the Very Poor range, on grounds they have unfavorable credit.
What credit card is best for a 560 credit score?
One of the best credit cards you can get with a 560 credit score is the OpenSky® Plus Secured Visa® Credit Card. This card won't check your credit when you apply, so you can have high approval odds even with damaged credit. Plus, the OpenSky® Plus Secured Visa® Credit Card has a $0 annual fee.
OpenSky® Secured Visa® Credit Card.
You can check your Amazon Credit Card application status either online, or by calling the application status line at (888) 338-2586 and pressing the “#” key. If you want to check your Amazon Store Card application status, you should call (866) 226-5638, as the store card version is issued by a different bank.
Amazon Visa credit cards are issued by JPMorgan Chase Bank, N.A. Member FDIC.
You need a credit score of 640 or higher to get a Walmart credit card. This means you are eligible if you have fair credit or better, but factors such as your income, existing debt load, recent credit inquiries, employment status, and housing status will also impact your chances.
First Progress Platinum Elite Secured Mastercard: The First Progress Platinum Elite Secured Mastercard requires no credit history or minimum credit score for approval. Your security deposit is refundable, and the card is accepted nationwide.
Lender | Loan Amounts | Credit Score Requirement |
---|---|---|
Upstart | $1,000 - $50,000 | None |
Oportun | $300 - $18,500 | None |
OneMain Financial | $1,500 - $20,000 | None |
RISE | $500 - $5,000 | None |
The best store credit card you can get with a 500 credit score is the Amazon Secured Credit Card, which has a $0 annual fee and offers 2% cash back on Amazon purchases if you are a Prime member. It requires a minimum security deposit of $100, making it easier to get with bad credit.
- Research low-credit-score lenders. Compare rates, terms and fees from multiple lenders offering bad credit loans to ensure you find the best match for your financial situation.
- Add a co-signer. ...
- Provide collateral. ...
- Submit loan application.
It can take 12 to 18+ months to build your credit from 500 to 700. The exact timing depends on which types of negative marks are dragging down your score and the steps you take to improve your credit going forward.
How long does it take to go from 550 to 600 credit score?
For instance, going from a poor credit score of around 500 to a fair credit score (in the 580-669 range) takes around 12 to 18 months of responsible credit use. Once you've made it to the good credit zone (670-739), don't expect your credit to continue rising as steadily.
Amazon usually pulls credit reports from one or more of the three major credit bureaus - Experian, Equifax, and TransUnion - when applying for an Amazon credit card.
First Latitude Select Mastercard® Secured Credit Card
Choose your own fully-refundable credit line – $200 to $2000 – based on your security deposit. No minimum credit score required for approval!
You can build your credit when no one will approve you by applying for a secured credit card with no credit check and using it responsibly. Secured credit cards without a credit check do not take your credit history into consideration and they require a refundable security deposit, making the approval odds very high.
Centurion® Card from American Express
A rating of 5 is the best a card can receive. Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.
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