Your credit score should not be ignored forever. It could prevent you from purchasing major items like homes.
There are many ways and different options for building your credit, but one of the newer, and more unique, opportunities is with the amazon builder card!
A high credit score can lead to many benefits such as:
What's Amazon Credit Builder?
The Amazon Credit Builder is a secured credit line that's designed for people looking to improve or rebuild their credit. You will need to make a refundable security deposit to open an Amazon Credit Builder credit card.
This acquisition by Amazon is a bold one. They are now expanding their reach to secured credit cards after dominating the ecom market and now delivering with Amazon Prime.
Who is the owner of Amazon Credit Builders?
The devil is in the details, as they say. It's easy to connect the dots.
Amazon has all you need...
Amazon credit builder is owned by Jeff Bezos and Synchrony Bank.
We'll be discussing everything that's associated with the Amazon Credit Card Builder.
These are things like:
What's Amazon Credit Builder?
Customers can build or rebuild credit with the Amazon Credit Builder Card. It functions like a regular credit card with a credit line equal to the amount of your deposit (like many secured cards).
Synchrony Bank has partnered with Amazon to provide banking services. Some love it, some hate it.
Once you have submitted your Amazon Credit Builder Card application and been approved, you will require a REFUNDABLE security deposit that acts as collateral in case of default.
This is how it might look...
Let's say you deposit $250. This Credit Builder Card is limited to $250.
Once you have paid all of your bills and received the entire amount...
You have the option to request a refund or close your account.
Any balance will be deducted from your initial security deposit.
The Amazon Credit Builder Card can be used to make payments for any item, including new equipment and inventory.
Amazon Credit Builder Cards work just like other credit cards. Either make the minimum or full payment.
What credit score is required to obtain an Amazon Credit Card?
You must have a credit score of at minimum 640 to be eligible for an Amazon store credit card. Better credit scores equal better approval chances.
Why do you need an Amazon Credit Builder email address?
On November 25, many people who don't have an Amazon credit card were sent alarming messages claiming that they needed to act or make deposits.
This was an issue with Synchrony. They have since fixed it. They claim that it was an internal problem and that there were no personal data hacks.
We at eMoney Kings still scratch our heads...
Is it possible to get an Amazon Credit Card for Bad Credit?
Credit cards are essential for your financial security.
This category is for customers with bad credit or no credit and who are interested in credit building to obtain other credit cards or to upgrade to an unsecured credit card.
How does the Amazon Credit Builder compare to other credit-building cards?
Interest will not be charged if the monthly payments are made on time and in full.
You can only use the card for purchases inside the amazon store...when it comes to financial responsibility...that's definitely a perk.
Amazon Prime Members get 5% cashback on all purchases in the store.
Cardholders have the option of deferred interest or equal pay plans.
Once you have made sufficient regular payments, your card can be upgraded to an unsecured one.
They offer applicants who have been approved $10 gift certificates.
Can the Amazon Store Credit Builder pull off a hard sell?
Amazon Com Store Card is a card that requires you to pull hard. To be eligible, you must score at least 640.
Hard pulls can result in applicants losing 5-10 credit points. However, they can quickly rebound if they are good at credit management.
Can I get an unsecured Amazon Store Card?
Once you have paid all your balances, your deposit is refunded. You will then receive your unsecured Amazon Card.
Do you have an Amazon Prime Store Card?
Only members of Amazon Prime have access to this card. You may be eligible for promotional deals.
Can You Upgrade to Unsecured Amazon? Shop Card
What's the Security Deposit for an Amazon Credit Builder Card Card?
This is Amazon's competitive advantage. Most secured card companies require at least $200 in deposit, but Amazon Credit Builder Card requires a minimum $100 deposit.
This is an excellent way to save money and make your finances more manageable.
Is Amazon still offers an installment payments?
Although it's not widely known, it's available on a limited number of eligible products.
The first payment is due within 30 days of shipment. The second payment is due 60 calendar days after shipment.
Can You Receive Prime Store Card Credit?
You might be eligible for special financing, equal monthly payments or other financial assistance.
Do You Need An Amazon Prime Membership?
Prime membership is required in order to have access to Amazon credit cards with higher limits.
How does Amazon's Credit Approval process look like?
They have the same approval process like other companies. Credit bureaus will inform you, your credit scores and credit history are reviewed and you will need to meet their credit criteria.
If you are approved, you might be eligible for promotional financing and other financing options such as cashback or deferred interest.
Does it make sense to get an Amazon Store Credit Builder?
If Amazon is your life, this is a great option. It has been a great choice for many people in the last year.
You can use this card to make small Amazon purchases, which will improve your credit score and build your credit.
This is not available for purchase in stores, which we love. This prevents you from spending your money elsewhere.
We have the solution.
Which Synchrony Bank Card is the easiest to obtain?
The Amazon Credit Builder Credit Cards are a great way to improve your credit score.
TransUnion is used by Synchrony Bank
Yes, TransUnion will be used to determine your creditworthiness.
Looking To Build Your Credit As A Young Person?
Credit cards and other secured options for young people are the best ways to build credit.
You must ensure that your balances are not completely paid off when you receive your cards
It may seem counterproductive...but you need to leave small balances on the card every month so that you can start building a credit history of paying back monthly consistently.
Credit cards can help build credit in as little as 24 months. If you make responsible purchases, however, 24 months is an average period.
There's no need to rebuild credit or build it again.
Credit cards that are dependent on you and your credit limit can prove to be a nightmare.
This is a discussion about an opportunity our team has thoroughly considered before recommending it.
This industry is open to all, so you don't need to have good credit to purchase anything.
Digital Real Estate
Local lead generation, or as it's sometimes known, local lead generation, is the new way to wealth for 2020.
2020 has been a catastrophe for the physical real estate market. There have been many acquisitions and scams in the market, which we do not recommend.
It is enough to create a website and rank the site. You can then pass the job on to someone who is willing to pay you.
Perhaps, you are wondering how to make money with it.
How to Make Income?
A website dedicated to a service-based business such as roofing, tree service, or plumbing will appear on page one Google. This means it is receiving all the calls.
Try this: How many times do you scroll to page 2 in search of someone to fix your sink?
All calls/leads are subject to associated prices...
How home advisors made millions!
This is more original and unique.
You won't be able to pass jobs on to business owners. They won't appreciate the shared leads that a Home Advisor gives.
Now let's get to the numbers.
Let's say we want to use a tree service.
Contractors are not afraid to charge 10%-20% for finding you work. Average jobs cost between $500-$2,000
Now let's create a model which takes into consideration the worst-case scenario.
Let's say you get only 10 calls per month and the guy only gets the $500 jobs.
10x500 = 5k x.10 = 500
This is the worst-case math. Still, you make $500 per month!
Imagine what it would be like to have 20 of these websites! This is 10 grand per month passive income.
You might think, "Hold on, my man, I don’t know where to start!" "
We've got you covered!
Where can I learn?
eMoney Kings has successfully reviewed the course/program which teaches this skill!
They will walk you through the process of building and ranking a website. You will even learn how to talk to the business owner.
They will train you to jump on live zoom calls twice a week. Chat with them to ask any questions.
You can also access a private Facebook group that is available 24/7.