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A complete guide to Amazon financing and payment plans

person at door step picking up an amazon box
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person at door step picking up an amazon box
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From fashion to furniture, you can purchase almost anything on Amazon. There are times when you may want to stretch out your payments over time to cover your purchase. Fortunately, there are plenty of options—many of which can help you avoid interest and costly fees.

Does Amazon have payment plans?

Shoppers may be surprised to learn that yes, Amazon does have payment plans. The installment payment plans are offered through Amazon, the Amazon store-branded credit cards or through a third party.

If you prefer a 0 percent financing option, an Amazon Monthly Payment Plan, 0 percent promotional offer through an Amazon store card or a credit card with a 0 percent introductory APR will be your best bet.

Types of Amazon payment plans

Whether your goal is to stretch out payments as long as possible or pay nothing in interest, there are multiple Amazon financing opportunities available.

Amazon Monthly Payments

One of the first programs worth considering is Amazon Monthly Payments—that is, if it’s available for the particular product you are purchasing. The Amazon Monthly Payments program allows you to pay over the course of four months.

With this program, you simply select the monthly payment option at checkout (if you see it offered). Once selected, Amazon breaks up the payments into five installments. The first payment is due when the product ships out and includes all shipping, handling and taxes. There are four subsequent and equal payments charged to your account every 30 days, which are around 20 percent of the purchase price. Further, there are no interest charges or fees for using this payment option.

The beauty of this program is that it’s not based on your credit score, which means there is no credit pull required. Eligibility is based on your purchase history with Amazon and the price of the product and is offered at the discretion of Amazon.

Taking advantage of the Amazon Monthly Payments has great benefits, but there are a few caveats to this program that may not offer the flexibility you need. Keep in mind:

  • This option is only available on select products, and you will not see the eligibility until you search for a specific product.
  • You can either pay in five installments or pay the amount off sooner, but you can not stretch out payments past the four-month mark.
  • You are limited to one product category or Amazon device per monthly payment program. For example, only one electronic device or piece of furniture.

Amazon credit cards

Perhaps you need a bit longer to make payments for your purchase, or the product you need is not eligible for Amazon Monthly Payments. If so, the Amazon Equal Pay or Amazon Special Financing options through Synchrony’s Amazon Store Card or Chase’s Amazon Prime Rewards Visa Signature Card could be an alternative.

Amazon Equal Pay

If you own an Amazon store card or Amazon Visa credit card (or open up a new account), you could be eligible for Amazon Equal Pay. This plan offers 0 percent financing and breaks up a purchase between six and 24 months of equal payments, without incurring interest charges.

As noted above, Amazon Equal Pay is available with both Synchrony and Chase Amazon credit cards, but the terms and conditions are different depending on which card you have. For either one, you will not be charged interest as long as you make your payments on time and in full, and the total amount is charged when the item ships, but then your installment payment is part of your monthly minimum payment requirement.

 Amazon Prime Rewards Visa Signature Card
Number of months Minimum purchase amount
6 $50
12 $250
18 $500
Amazon Store Card
Number of months Minimum purchase amount
6 $150
12 $600
24 $800

Amazon Special Financing

Amazon Special Financing is simply a deferred interest payment plan, but it could be useful if you prefer to make larger payments at once versus equal monthly installments. With this financing option, you receive a 0 percent APR for six to 24 months (depending on the purchase size), and you can avoid interest charges by paying the account balance before the end of the promotional period. Special financing is typically more so available to Amazon store cardholders, but Chase Amazon Prime Rewards Visa Signature cardholders may also qualify.

You do not have to make minimum monthly payments, but you will be responsible for any interest charges for the payment period if you do not pay the entire balance before the final due date. Given the higher interest rates with these cards, your purchase could become pricey if you cannot meet the due date.

Number of months Minimum purchase amount
6 $150
12 $600
24 On select purchases

Additional Amazon financing options

Citi Flex Pay

Thanks to Citi Flex Pay, those with an eligible Citi credit card can pay select Amazon purchases over time with either a 0 percent APR or low interest rate, depending on your payment plan. For Amazon purchases over $50, Citi will let you break up your payments into equal monthly payments between three and 38 months. To take advantage of this payment plan, simply select your Citi card as your payment choice when completing an Amazon purchase.

Monthly payment plan Purchase minimum Promo APR
3 months $50 or more 0%
6 months $149 or more 0%
12 months $300 or more 0%
18 or 24 months $600 or more 6.99%
36 or 48 months $1,200 or more 8.99%

Amex’s Pay It, Plan It

Similar to Citi, there are flexible payment plans for American Express cardholders. The American Express Pay It, Plan It program offers the ability to break up purchases of $100 or more over time. You’ll be charged a monthly fee, but there are no interest charges.

After making a purchase with your eligible American Express credit card, simply log in to your Amex account and select the purchase you’d like to cover with Plan It. One intriguing advantage of using this program is that you can use it for up to 10 purchases at a time (that add up to a total of $100 or more).

Credit cards that offer 0% intro APR offers

Cit and American Express are two examples of issuers who offer flexible payment plans, but another route for paying over time could involve choosing a credit card with a 0 percent introductory APR. Numerous credit cards entice new users with long promotional periods, so check out Bankrate’s list of the best 0 percent interest credit cards to find a suitable option for you.

Buy now, pay later plans

Amazon Monthly Payment is a buy now, pay later (BNPL) option. However, if it isn’t offered on your product or does not meet your payment needs, you could choose a third-party BNPL provider. Not all buy now, pay later companies work with Amazon, but here are a few available for consideration.

Affirm

Affirm offers several financing options, some of which allow up to 36 months for repayments and purchase amounts up to $17,500. Although Affirm offers flexibility, not all options include interest-free financing. Further, depending on the loan type, Affirm may conduct a hard credit check, which could impact your credit score.

Klarna

With Klarna, you can download the app or add its browser extension to buy purchases now and pay later (over time). Klarna offers the ability to split up a purchase into four equal installment payments, paid every two weeks. Klarna only uses a soft credit check, so your credit score is not impacted. Be aware there are late fees for late payments, and you could be sent to collections for lack of payment.

Zip

Zip, an app-based buy now, pay later service, allows you to split your purchases into four equal installments over six weeks. No hard credit pull is needed with Zip either. While you typically avoid interest charges with a BNPL service, Zip does charge a convenience fee and late fees and will pursue collections if you fail to make your payments.

Which is the right Amazon financing option for me?

It can be tough to decide which Amazon financing option is right for you. Should you utilize Amazon Monthly Payments, an Amazon credit card program like Equal Pay or Special Financing, apply for a 0 percent intro APR credit card or try out a third-party buy now, pay later service?

The first decision you have to make is how long you realistically need to pay off your purchase. While the Amazon Monthly Payments option is convenient, it may not give you as much time to pay for the purchase as the Equal Pay or Special Financing options do.

On the other hand, if you’re concerned about a hard credit pull or establishing another credit card in your name (that you may have trouble qualifying for or paying on time), Amazon Monthly Payments or a buy now, pay later service may be the better choice.

Whichever option you choose, thoroughly knowing your payoff plan ahead of time is key. You’ll also need to pay close attention to payment due dates since you could incur late fees or other penalties.

The bottom line

Amazon shoppers may not realize how many choices are available to them to stretch payments out a little further. Finding the right Amazon payment plan for your budget has never been easier — so long as you know your payoff goal and can keep track of payment due dates.

Written by
Sara Coleman
Insurance Contributor
Sara Coleman is an insurance contributor at Bankrate. She has a couple of years of experience in writing for insurance domains such as The Simple Dollar, Reviews.com, Coverage.com and numerous other personal finance sites. She writes about insurance products such as auto, homeowners, renters and disability.
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