Amazon Prime Rewards Visa: The professionals and cons


A median Amazon Prime member spends $1,400 per yr. Nonetheless, the determine might be larger based mostly on the on-line buying spike brought on by the COVID-19 pandemic. The Amazon Prime Rewards Visa Card is issued by Chase Financial institution and delivers 5% cashback on Amazon and Entire Meals Market purchases. If brown bins usually stack in your entrance porch, you can earn some a refund merely for buying on the world’s largest retailer. 

To get a greater thought of how a lot cashback you can earn (or have missed out on), log in to Amazon.com, navigate to “Account & Lists”, and click on or faucet “Ordering and Purchasing Preferences”. You may discover a useful gizmo that lets you obtain order experiences based mostly in your chosen timeframe, together with customized dates, present yr or whole historical past. The quantity could also be eye-opening, revealing you will have left lots of of {dollars} or extra on the desk in cash-back rewards. Luckily, you may repair that by making use of for the Amazon Prime Rewards Visa.


Amazon Prime Rewards Visa options:

  • Annual price: $0, though an annual $119 Amazon Prime subscription is required
  • Credit score required: Good to wonderful
  • Rewards: Earn 5% cashback on Amazon.com and Entire Meals Market purchases, 2% cashback at eating places, gasoline stations and drugstores, 1% cashback on all different qualifying purchases and a bonus of 10% to 25% on choose Amazon merchandise
  • Welcome provide: $100 Amazon present card upon approval
  • Buy intro APR: 0% APR as much as 18 months
  • Steadiness switch intro APR: N/A
  • Normal APR: Variable APR of 14.24% to 22.24%

The way it works

The Amazon Prime Rewards Visa bank card is designed to combine seamlessly together with your Amazon.com and Entire Meals Market purchases. Amazon offers a pre-qualification software that may let you know whether or not you would be accepted for the cardboard and your credit score restrict with out affecting your credit score rating. It is a great way to check the waters and keep away from a small hit to your credit score rating for an inquiry, solely to get denied.

Getting pre-qualified takes only a few seconds, and so does getting accepted. When you’re accepted, you can begin buying on-line — even when you do not have a bodily card but. You may see the choice to pay utilizing your Amazon Prime Rewards Visa bank card at checkout. The cardboard will comply with within the mail for all different purchases.

Welcome bonus

As quickly as you are accepted, you may obtain a $100 bonus to get began. You possibly can apply the bonus stability to Amazon.com or Entire Meals Market purchases straight away. Moreover the money bonus, you may obtain a promotional APR of 0% for six to 18 months on purchases of not less than $50. Nonetheless, you will not have the ability to earn cashback on purchases you select to finance utilizing the introductory 0% APR. 

Rewards

5% cashback is a superb deal. You will not discover that degree of year-round rewards on Amazon and Entire Meals purchases with different playing cards. Amazon cash-back rewards are referred to as factors and have a point-for-dollar worth. Which means that incomes 5 factors is the equal of $5 in cashback. Amazon factors do not expire. Nonetheless, you may want an Amazon Prime membership of $119 per yr for the factors to stay legitimate. You possibly can nonetheless proceed to make use of the bank card if you happen to do not renew your Prime membership, however you will not earn cash-back rewards on Amazon and Entire Meals Market purchases.

Redeeming rewards

There are a couple of methods to redeem the cashback rewards. Apply the factors at checkout for eligible Amazon.com/Wholefoods.com purchases. Redeem them as money as an account assertion credit score or by transferring the stability to a checking account. Or use the factors for present playing cards or journey.


Amazon Prime Rewards Visa execs and cons

The important thing to good credit score historical past is being selective about your bank cards and the way you employ them. Obtainable credit score, low card balances, on-time funds and card longevity are among the elements that have an effect on your credit score rating most. Canceling a card as a result of it is not best for you may negatively impression the common age of your bank card accounts and your general accessible credit score. Make it possible for the Amazon Prime Rewards card will fit your wants for years to come back earlier than you apply. 

Take into account the next execs and cons:

Amazon Prime Rewards Visa execs:

  • No annual price

  • Instantaneous $100 Amazon present card bonus at approval

  • Open-loop — not like many store-brand playing cards, it may be used in every single place Visa is accepted

  • 5% cashback on Amazon and Entire Meals purchases

  • An additional 10% to 25% again on choose Amazon purchases

  • 2% cashback at eating places, gasoline stations and drug shops and 1% in every single place else

  • Money-back factors could be utilized to Amazon purchases, journey and present playing cards 

  • Journey perks embrace no overseas transaction charges and Visa Signature advantages akin to journey insurance coverage, baggage safety and concierge providers

Amazon Prime Rewards Visa cons

  • Requires an annual Amazon Prime membership (at the moment $119 per yr)

  • No money again rewards on purchases utilized to the 0% APR introductory provide

  • Not like different Chase bank cards, no entry to the Chase Final Rewards web site


Amazon Prime Rewards Visa FAQ

Is the Amazon Prime Rewards Visa bank card free?

Though the Amazon Prime Rewards Visa has no annual price, you are required to pay for an annual Amazon Prime membership, which is at the moment $119 per yr.

How can I earn extra cashback with my Amazon Prime Rewards Visa card?

The Amazon Prime Rewards Visa already comes with a excessive rewards charge of 5% cashback on Entire Meals and Amazon purchases. You can earn extra by making the most of unique presents accessible to Prime Rewards cardholders that allow you to earn one other 10 – 25% on Amazon purchases, on prime of the 5% rewards.

Is the Amazon Prime Rewards Visa bank card good for journey?

You will not earn bonus factors for journey purchases, however the Amazon Prime Rewards card does include Visa Signature journey perks. They embrace complimentary concierge providers for assist with journey, precedence entry and particular charges at Luxurious Resort Assortment properties, misplaced or delayed baggage protection, no overseas transaction charges and journey/emergency help.



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