Amazon: Installment payment - you need to know that
Pay Amazon items by installments, is that possible? Yes, it is possible - but Amazon doesn't make it that easy for customers.
Installment payments at Amazon: is that possible?
Stutter a large LED TV or a super slim Ultrabook - that sounds tempting, but you're not very lucky with Amazon. To pay in installments with Amazon, you must have an Amazon VISA credit card. You must select this as the payment method when ordering.
- The credit limit for payment in installments is 1500 euros. You cannot finance a large LED TV for 3000 euros with it or not fully.
- The effective annual interest rate of the credit card is 14.98 percent if you leave the partial payment of 10 percent activated. So if you exhaust the 1, 500 euros completely, that's 134.71 euros per month.
- Tip: You can avoid these high costs by choosing "full payment" instead of the regular 10 percent. How to pay the amount by independent transfer to the credit card.
Amazon: Requirements for classic installment payments
Amazon currently offers classic installment payments, i.e. without an Amazon VISA card, only with its own hardware such as the Amazon Echo, Fire TV or Fire Tablet.
- Residence: Customers from Germany, Austria, Luxembourg and Switzerland can pay for these devices in installments.
- The customer account must also have been active for a year .
- The customer must not have had any conspicuous payment behavior in the past.
Permitted payment methods for payment in installments
When paying in installments on Amazon, you can choose different payment methods.
- Payment by credit card can be made using a MasterCard, American Express, Visa and prepaid cards from the card manufacturers mentioned.
- You can also pay by direct debit . However, this payment method is only possible in the euro area. As soon as the goods are shipped, your account will be charged.
- If you have a delivery address in Germany or Austria, you can buy on account . This does not apply to minors and corporate customers. As a new customer, the purchase amount may not exceed 100 euros. As a customer, you must pay the invoice amount immediately. For this, 1.50 euros are due.
- You can also pay with a gift or promotional voucher.
Advantages and disadvantages of payment by installments on Amazon
Installment payments have their advantages and disadvantages.
- Advantages: If you pay in installments with Amazon, no interest and fees are due.
- There is no special security to look out for.
- Disadvantages: With Amazon, you can only finance selected products using traditional installment payments.
- The term of the installments is limited to five installments and is due in 120 days.
In our next article we will explain how to order something on account from Amazon. You can also save a lot of money on your next purchase using our Amazon coupons.