Amazon’s new credit card targets people with bad credit

Amazon’s newest credit card is designed to appeal to consumers who are looking to improve their credit score. It comes with an unusual structure — and some major caveats.

The Amazon Credit Builder cardAMZN, +2.32% will function as a secured credit card, but with the same benefits as Amazon’s Store Card. When opening the card, as with any secured card, consumers must make a refundable security deposit with Amazon’s partner on the financial product, Synchrony Bank SYF, +0.47% That deposit will then represent the card’s credit limit. Consumers can establish credit lines ranging from a minimum of $100 to a maximum of $1,000.

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