What is Amazon’s ‘Monthly Payments’ options, how to qualify etc

What is Amazon’s ‘Monthly Payments’ options, how to qualify etc

Amazon offers a pay per month option for payments on certain selected products but best of all it’s not a finance agreement and doesn’t affect your credit rating, Amazon promise:

  • No finance charges
  • No interest or hidden fees
  • No credit check or application required

Basically you make your first payment and then pay every 30 days in instalments for a maximum of 5 months, at any time you can pay off your remaining balance or the next scheduled payment.

What products are part of this?

Note: Some products are included on those links but don’t currently offer pay per monthly

It varies but it’s over 1000 items as if you search for ‘5 monthly payments items’ it actually gives you a list and if you search for ‘Pay Monthly’ it shows over 9000 items!

Certain brands seem to be part of it as well, e.g. Samsung products, Apple Products, FitBit, Ring Doorbells, Dyson, VAX, Acer Laptops, DJI Drones

How do I qualify?

It depends is the short answer, Amazon doesn’t give a definitive public statement on this but you can use the link below to confirm

See if you’re eligible

To be eligible for this offer, you must:

  • reside in the United Kingdom
  • your Amazon.co.uk account must have been active for at least one year
  • you must have a valid credit card associated with your Amazon account
  • and you must have a good payment history on Amazon UK

See if you’re eligible

The T&Cs reference credit card and not debit card, so if you don’t have a credit card on your system that might be part of the issue. Presumably, Amazon also looks at your previous spending history alongside some other variables to work out if you’re eligible or not.

From the US Amazon website: “This offer may not be available to every customer and may not be available to you for all qualifying products. We reserve the right to consider for each transaction factors including your transaction history and past products purchased on Amazon and the nature and price of the qualifying product, in determining your eligibility for this offer. We will not use a credit report to determine your eligibility. ”

Where can I learn more?

Full terms and conditions

What are the catches?

Well, the idea is you buy something you might not normally buy, it pushes you to spend more. If you don’t have the money to spend right now or don’t have a decent budget to ensure you will have the money each month going forward it’s not wise to use this!

If we are unable to complete a charge using your chosen payment card, you authorise Amazon to charge a payment to any other payment card on your account.

Although it’s not confirmed, if you have ever had a payment declined, even if it was no fault of your own, Amazon will make your account ineligible for monthly payments.

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