As a small business owner, you need to carefully manage your finances. An Amazon credit card can be a helpful tool to smooth out cash flow, earn rewards on purchases, and build credit – as long as you know how to use it responsibly. This comprehensive guide breaks down everything entrepreneurs need to know about setting up an Amazon credit card account and making timely payments.
Choosing the Right Amazon Credit Card
With small business credit card debt on the rise, it’s important to pick the right card for your needs. Here are two popular options:
- Amazon Business Prime American Express Card – Offers 5% back on Amazon Business purchases and 2% back at restaurants, gas stations, and cell phone services. $0 intro APR for the first 9 months.
- Amazon Business Line of Credit – Provides access to short-term financing with fixed interest rates. Can be repaid over time.
Compare rewards rates, APRs, and benefits to select the best fit. Consider projected monthly spending.
Setting Up Your Account for Success
Once approved, take steps to get your account established:
- Register your card in your Amazon account under “Payment Options.” This links it for easy access.
- Set up account alerts to monitor activity and due dates via email or text. Being informed helps avoid missed payments.
- Learn your logins for both Amazon and the issuing bank website to manage payments.
- Schedule recurring autopay for at least the minimum amount due each month. This prevents missed due dates which could damage your credit score.
Payment Methods and When to Use Them
You have options when it comes to paying your credit card bill. Here‘s an overview:
|When It‘s Useful
|Set and forget payments for busy entrepreneurs
|Quick online payment through saved payment method
|Issuing Bank Website
|Make a larger manual payment and access full account management
|When you need to make a payment immediately and aren‘t by a computer
|If you prefer to pay via check monthly
Experts recommend autopay or paying online for convenience and avoiding human error. Mailed checks can incur processing delays.
How to Pay Online Through Amazon
Paying through your Amazon account takes just minutes:
- Log in and go to “Your Account.”
- Select “Payment Options.”
- Click “Add a Payment Method” and enter your debit/credit card or bank account.
- Choose “Make a Payment” to schedule one-time or automatic payments.
Understanding Your Credit Card Statement
Review statements closely to catch errors and avoid unnecessary fees:
- Payment Due Date – Pay by this date to avoid late fees.
- Statement Balance – What you owed at statement closing.
- Current Balance – What is currently owed.
- Minimum Payment – The smallest amount due to avoid late fees.
Pay more than the minimum when possible to save on interest charges.
Maximize Rewards as You Shop
One of the biggest perks of an Amazon Business card is the rewards you can earn:
- Use online – Get 5% back when shopping on Amazon Business.
- Track categories – Rotate cards to maximize category bonuses.
- Redeem rewards – Cash in points for statement credits to offset costs.
- Watch for deals – Take advantage of limited-time bonuses.
Where to Go for Account Help
If you face issues with your account, Amazon’s customer service team is available to assist:
- Call the number on the back of your card.
- Start a live chat from your Amazon account.
- Email support if your question isn‘t urgent.
Be ready with your account number, issue details, and desired resolution.
With the right account management strategies, an Amazon credit card can be a valuable asset for your startup. Use this guide to optimize your payment process, earnings, and customer experience. Let me know if you have any other questions!