Amazon has two different cards available to consumers, one is a store card issued by Synchrony and the other is a credit card issued by Chase. The store card currently offers financing on Amazon purchases, but the credit card does not. This will change on May 25th, when the Chase credit card adds the following promotional financing options.
After the promotion period ends, the standard purchase APR applies
- 0% APR on Amazon.com purchases of $50 or more for 6 months
- 0% APR on Amazon.com purchases of $250 or more for 12 months
- 0% APR on Amazon.com Purchases of $500 or more for 18 months
If you choose this 0% APR option, keep in mind you will not earn any cash back/points back on these purchases. It’s one or the other. This is the same as the store card. You also get the option of special financing or equal pay where the purchase amount is divided by the 0% APR period. For example if you make a purchase of $100 and have 6 months of 0% APR you will pay $16.67 per month and at the end of the six months the purchase will be fully paid off.
Hat tip to reader Nick
So it’s 2022 and I just stumbled across this thread because I have been relentlessly looking for answers. This zero percent financing thing still seems to be an issue (SCAM!!!)..i can’t find a single qualifying item, all I can do is 5% cash back. The promotion page that says basically “hey here’s all the great items you can finance”, Now that I have the card nothing I can find is elligible (have tried so many items, ones I don’t even want to buy). The card agreement (issued by chase) explains the financing in the terms I was aware of because i read over everything many times. Even the amazon terms and conditions outlined on the promo mentions only certain items qualify, but says nothing about your account also being randomly selected to qualify (which I was told on the phone)Amazon doesn’t seem to be upholding their end (as it is AMAZONS promotion) and most recently told me that only certain accounts qualify in addition to certain items. That part was news to me and is not outlined in the agreement whatsoever. There are separate amazon financing programs/plans that stipulate only certain accounts qualify, but that has nothing to do with the visa card. How is this issue still going on and amazon has no idea ..I have spent so many hours on the phone !!!! sending out am SOS , can we file a class action or something ? I am sending that pesky letter to reject the arbitration agreement today lol (read the fine print!)
I just noticed that I’ve been charged the full amount on my card. It is NOT done in payments anymore (it used to be). My statement doesn’t know the difference between what is a financed amount and what isn’t. So, if I have a credit statement of $1000 this month, and only pay off $500, I still have to pay my 24% interest fees until it’s paid off, since it’s not differentiating what is or isn’t being financed.
Considering canceling my card for this one… Between the bank and how Amazon ‘customer service’ treated me during the whole thing, I don’t want to give my business to either one of them. This happened after chase was merged with JP Morgan.
Any updates on this??
It seems to be just false advertising. I don’t really care either way. I could maybe use it on Prime day. There isn’t anything I specifically need. I figure if they can’t resolve a issue in more than 45 days, better to stay away from it. Zero balance will continue here.
Is anyone going to escalate this? Its clear false advertising !! Unfortunately I didn’t stumble upon this thread before I signed up for the card last week (i wouldn’t have known to even look) as I trusted the card agreement and terms and conditions that were presented to me
Read the other comments, a lot of other discussion. I don’t have anything else to add currently
After reaching out to both Amazon & Chase Bank, both have confirmed it is in effect, just not all items under amazon/prime are eligible. Very frustrating as how do we know which items are/aren’t?
I got the same thing. Just called because I used my Chase card on Prime Day and didn’t see anything on my statement about this promotion. I tried to call Chase about it because I wanted to know how much I am supposed to pay, and they said none of my purchases are eligible. I tried to point out that the letter they sent out does not say that, with the only line being
“For time to time, we may offer one or more of the promotional financing options above on qualifying purchases on Amazon.com”.
I said this is worded to sound more like an additional thing rather than a stipulation, as there is no other part of the letter that supports this being limited to certain items. I asked if they had sent out anything else since this letter that I might have missed but she said no. So there is obviously a disconnect here, I am going to follow up and might have to talk to someone higher.
BTW, this is the only article on the internet about this subject. So thank you Doc!
That’s exactly why my Chase Amazon account will stay at a zero balance. Don’t offer something then not provide it.
There went 90 minutes of my life i’ll never get back. NP. I’ll wait. The intel bottom line is “not available at this time.” Period. End of story. Thanks for this site!
Finally received a solid answer from Amazon today. It appears that while Chase sent out their promotional offer letter stating that May 25th was the start date for this financing, it wasn’t actually ready from a server standpoint, due to miscommunication on Chase’s end (allegedly). Whatever technology needed to be rolled out wasn’t, and Chase apparently wasn’t supposed to include an actual start date in the letter. According to the Amazon Supervisor, they don’t know when this will be officially implemented, but they said they are aware of the issue and are waiting for Chase to fix whatever is going on on their end.
yup i got the overall answer from chase. they said the promotion will become available to specific users anywhere from may 25th to mid july…….
Thank you for answers!
Thank you for the solid answer from Amazon. It’s been frustrating dealing with Chase Bank and Amazon.
Up to now only a few reps (on both sides) know the right answers. The Chase rep said the promotional financing are only for “eligible” accounts approved by Amazon without any specific details. Also the items you buy must be from merchants who are willing to participate in this promo. They cannot answer if it’s one item or several purchases in one transaction. And allegedly the offer will show before you finalize the transaction.
Yup, no one knows what is going on. Just spoke with Chase, who at first acknowledged the promotion then transferred me to Amazon, who said it was only on ‘specific items,’ but I told them that I did not read that anywhere… and asked “which items qualify?”
They responded that they weren’t sure, and that I should keep trying or looking for them… unwilling to accept this as an answer, I called Chase back and asked for a supervisor. They were unaware of the promo, and figured it would show up in my Amazon payment options…
When I let them know that I’ve actively been looking for any item that qualifies (from TV’s to Cinema Cameras to Computers and even rinky dink stuff) since May 25th — they really had no answer. And there’s nothing or any notes about any issues on the subject on their end.
So this one just went into the black hole. Would be great if they could get their act together and both entities could get on the same page. Missed out on some serious sales waiting for this stupid fake offer to take effect.
I have been on the phone with Amazon and Chase for over 1 hour now. They are playing blame the other game. Chase states that it’s an active promotion only available on specific “eligible” items but cannot elaborate what those items are.
Amazon claims that they have no information regarding this promotion as Chase never notified them of it. They will need to “review” this promotion and they may or may not approve it in the future months to come.
Both parties keep transferring me to the other party.
Why on earth would you send out literature regarding a major change such as this, then not actually get your act together before the date provided??
I’m trying to make a $600 purchase using this promo, but now Chase won’t honor it, saying it’s Amazon’s deal. My purchase on Amazon does not show promotional financing as an option. Just spoke with Amazon, and they don’t know why it isn’t an option.
Yes I’m trying to buy something too and it’s not giving me an option to buy using financing. Luckily I haven’t hit the “buy” button yet.
So I spoke to Amazon customer support in Chase, they both told me that while the promotion is active as of May 25th there are no actual products that are eligible for the promotion. Amazon rep told me to look towards Prime day and the chase rep said she has no idea.
I tried different $ amounts & different items from different categories. Nothing triggers the “promotional financing” on Amazon for me either.
I called both amazon and chase and both said it was active but nothing is working yet for it. In theory it should be every product that is prime eligible would work for this but it’s not
When I called neither had any idea what the special financing was. Very frustrating that they would advertise this and then not follow through.
I had the same issue (nothing showing up on Amazon to give me the choice between cash back and the financing [as I was told by a Chase rep should be the case). I called Chase and on the third person, I was told that yes, the purchases I made qualified for the financing. If you look at your statement when it comes out, or, give it a day or two to post to the account and then call Chase, you should get confirmation on the financing option (either on the statement or via the Chase rep who can see, on their end, whether it qualifies or not). It should be as of 5/25, all Amazon (not sure if it’s just prime, though) purchases over x amount qualify (if you have the promo financing available to you).
So you can confirm that even thought the financing option didn’t show up on amazon’s website, it did indeed show up on your chase account after the payment posted?
I called Chase they put me on a 3way call with Amazon to ask what items are eligible and Amazon said since the promotion is for financing terms and not an item discount that eligibility would be a Chase responsibility. Chase pointed out the verbage from the notice “during checkout” as Amazons responsibility.
TL;DR
I got no where. Nothing resolved. 🙁
@MP, Wait…so Amazon said it’s Chase, Chase clearly points out that “during checkout” is on Amazon’s side and then Amazon said what? Seems like this is all a problem on Amazon’s end since the option (like the store card) appears during checkout and not after the purchase.
It is an Amazon end problem as they have not yet activated the promotion, due to Chase not providing them with the required information to “approve” it. Any attempted purchases prior to them approving will not give you the option as it doesn’t exist yet.
I agree I would also say it’s on Amazon but it was frustrating to have them on the phone with each other and STILL get no where.
I had a similar situation, except I did not hit the buy button. I contacted Chase and Amazon several times. Chase keeps telling me to contact Amazon regarding the special financing and Amazon keeps telling me to contact Chase. I called the Special Financing phone number that Chase gave me to call and spoke to an Amazon rep. He had no clue what I was talking about. He also spoke with his Supervisor while I was on hold. I also emailed him a copy of the offer that Chase sent me.
Chase has not done anything to resolve the problem. I don’t know who’s scamming who – Chase Bank or Amazon. They’re both telling me to contact each other, which I’ve done several times. I’m frustrated with their lack of Customer Service. Is Chase scamming their customers and not telling Amazon? What is going on?
Can confirm, got this in the mail about 2 weeks ago
You’re losing 5% on rewards. Jeez.
Yup, what subscriber to DOC actually carries a balance?
To be fair, if some big purchase or emergency were to occur the financing may be worth more to people than the 5%.
Also, it says Chase MAY offer these. There is no guarantee yet.
I do, whenever I got 0% apr.
But 5% is better than 18 month financing..
I carry a balance in between applying for cards. Right now my utilization is above 30% (all 0% APR). I just got like 5 cards, I’m not going to get approved for anything good for 6 months or so anyway. Why not take the free loan and pay everything off when I’m ready to start applying again?
If you think of it as a free loan, you would probably get more than 5% in the stock market in 18 months so it’s not really that bad. Just a hassle to keep track of all the financing if you do it a lot.
If it counts as a loan, not revolving credit, then it’s great for your credit
It doesn’t count as a loan, and it harms your credit until it’s paid off. But the credit score only matters if you want to use it. If you’re not going to apply for anything for X months, it makes no difference whatsoever so long as you pay it all off and it posts before you apply.