Rewards Plan
Sign up Bonus
Credit Rating
0% Intro
Annual Fee
APR
- Great Cash Back Reward Points
- Sign-Up Bonus
- 5% Balance Transfer Fee
- Links to only one Amazon Account
On Amazon Secure Website
Rewards Plan
Sign up Bonus
0% Intro
PROS
- Great Cash Back Reward Points
- Sign-Up Bonus
CONS
- 5% Balance Transfer Fee
- Links to only one Amazon Account
APR
18.49% to 26.49% Variable
Annual Fee
$0 ($139 per year Amazon Prime Membership Fee required)
Balance Transfer Fee
$5 or 5%, whichever is greater
Credit Requirements
Good – Excellent
The Amazon Prime Rewards Visa Signature Card has great benefits for people who are avid Amazon shoppers. The card is offered through Chase Bank, and there is no annual fee. With the Amazon Prime card, you earn 5% at Amazon.com and Whole Foods Market, 2% cash back on restaurant, gas, and drugstores, 1% cash back on all other purchases. In addition, you'll get a Up to $150 Amazon gift card upon approval.
However, you have to be an Amazon Prime member to hold the Amazon Prime Rewards Visa Signature Card, which has an annual fee of $139. The rewards rate on all Amazon purchases is alluring for Amazon shoppers, but there are drawbacks and limitations to the card.
- Cashback Reward Points
- Great Sign-Up Bonus
- No Annual Fee
- No Transfer Options
- Links to Only One Amazon Account
- High Balance Transfer Fee
- Slow Processing Time and Many Fees
- No 0% Intro APR
What’s the initial credit limit I'll get?
The Amazon Prime Rewards card has a minimum initial credit limit of $500. The exact amount can be much higher but it mainly depends on your credit score.
Can you get pre-approved?
There is no pre-approval option for the Amazon Prime Rewards card. This means that you’ll need to complete a full application and this will trigger a hard pull on your credit.
What are the card income requirements?
You’ll need good to excellent credit for the Amazon Prime Rewards card. Although your income will be one of the factors assessed during your application, your credit score will be a more important consideration
What's the main reason to skip the Amazon card?
The top reason not to get the Amazon Prime Rewards card is that you don’t tend to spend a lot with Amazon or Whole Foods.
What is the card customer service availability?
Chase is the issuer of Amazon card and it offer numerous contact methods, so you should be able to access the customer service team 24/7.
In this Review..
Benefits
Let’s take a closer look at the benefits and drawbacks of the Amazon Prime Rewards Visa Signature Card – and whether or not it’s right for your wallet…
- Cashback Reward Points
The Amazon Prime Rewards Visa Signature Card offers an excellent 5% at Amazon.com and Whole Foods Market, 2% cash back on restaurant, gas, and drugstores, 1% cash back on all other purchases.
For devoted Amazon users, a cash back rate is fantastic.
- Great Sign-Up Bonus
When you sign up for the Amazon Prime Rewards Visa Signature Card, you receive a Up to $150 Amazon gift card upon approval.
Not a fantastic sign-up bonus when compared to other major credit cards, but because the Amazon Prime Rewards Visa Signature Card is geared towards frequent Amazon buyers, this sign-up bonus could be a great incentive for some people.
- No Annual Fee
The Amazon Prime Rewards Visa Signature Card doesn’t charge an annual fee to stay active, which is great news for those considering applying.
With this being said, the card holder is required to be an Amazon Prime member, which has an annual fee of $139. If you shop on Amazon enough to justify the Prime fee, then having no second fee is a great perk.
Drawbacks
- No Transfer Options
Even though the Amazon Prime Rewards Visa Signature Card is provided by Chase Bank, which is becoming a larger name bank, there is no transfer options to carry over points from one card to another, even if the previous card was also a card offered by Chase Bank.
- Links to Only One Amazon Account
The Amazon Prime Rewards Visa Signature Card links to only one account, meaning rewards acquired on the Amazon Prime Rewards Visa Signature Card can only be redeemed on one Amazon account.
While this isn’t a big determining factor, it can be inconvenient for families all trying to use the benefits.
- High Balance Transfer Fee
The Amazon Prime Rewards Visa Signature Card does have a higher than normal balance transfer, which is $5 or 5%, whichever is greater[/sc.
- Slow Processing Time and Many Fees
Chase Bank is going through some growing pains as a bank, and because they are the issuer of the Amazon Prime Rewards Visa Signature Card, this can cause many headaches for card holders.
Many card holders have mentioned many hidden fees that minimize their monthly payments, and the slow processing times from Chase can turn on time payments into late payments, which will tack on more fees.
While these are not problems with the Amazon Prime Rewards Visa Signature Card itself, they do come associated with the card due to the bank that issues it.
- No 0% Intro APR
The Amazon Prime card doesn't offer 0% intro APR, which could be a deal-breaker for many potential applicants
Simulation: Which Card Gives More Rewards?
It's difficult to understand the actual reward potential of the Amazon card without a calculation. Therefore, here's a breakdown of some common costs and how much it worth.
However, keep in mind that the numbers should be adjusted to your regular spending categories, which may differ – so the exact calculation is dependent on your personal habits.
| |
|---|---|
Spend Per Category | Amazon Prime Rewards Visa |
$5,000 – Apple/Amazon | $250 |
$10,000 – U.S Supermarkets | $100 |
$4,000 – Restaurants
| $80 |
$5,000 – Hotels/Airline | $50 |
$4,000 – Gas | $80 |
Estimated Annual Value | $560 |
How to Make the Most of The Amazon Card?
With a couple of simple steps, you can make more from the Amazon card:
- Book your travel with your card: While this card is primarily for Amazon, it provides some excellent travel benefits if you pay for your fare with it. Baggage insurance, trip delay insurance, and travel accident insurance are all included.
- Understands rewards structure – besides the usual cash back on Amazon, you'll get higher cash back on a bunch of other purchases. Make sure to leverage it whenever it's possible.
- Check the Visa Signature Benefits catalog before booking a hotel stay or trip: Before booking a hotel stay or trip, check the Visa Signature Benefits catalog. You might be able to get a discounted hotel rate or free room upgrades.
Application Process
To apply for a credit card: Search the Credit Card Marketplace for a credit card you'd like to apply for.
Click Apply now. You'll be redirected to the credit card application on the financial institution's website.
Fill in the credit card application and click Submit application.
Note: Amazon.com does not have any information regarding the status of your application. For any questions regarding your application, please contact the financial institution of the card you are applying for.
You'll receive a decision from the financial institution.If you applied for a credit card via Credit Card Marketplace that offers an Amazon.com Gift Card incentive and your application was approved, the issuer of the credit card will be providing you with your Amazon.com Gift Card.
If you haven't received your Amazon.com Gift Card or believe the amount of the Gift Card is incorrect, please contact the financial institution that approved your application.
Is the Amazon Prime Rewards Right for You?
The Amazon Prime Rewards Visa Signature Card is about as good as it gets when it comes to co-branded credit cards. Cardholders with prime memberships will certainly see the value since they are already avid Amazon users.
For many people, the higher cash back on Amazon and Whole Foods purchases on top of the other rewards on purchase will truly just be a bonus.
Weighing in the fact that the card doesn’t have 0% intro APR and carries higher balance transfer fees than normal, some people might not see the value, as these might be must haves for people looking for a new credit card. With this being said, this card might be as good as it gets for Amazon fans.
Compare The Alternatives
There are more cards for online shopping worth mentioning as alternatives to the Amazon card:
|
|
| |
|---|---|---|---|
Capital One® Walmart Rewards® Card | Amazon Prime Rewards Visa Signature Card | Chase Freedom Unlimited® card | |
Annual Fee | None
| $0 ($139 per year Amazon Prime Membership Fee required)
| $0
|
Rewards |
1-5%
5% cash back at Walmart.com (including pickup and delivery), 2% cash back in Walmart stores and gas stations, at restaurants and on travel plus 1% cash back everywhere else Mastercard is accepted
|
1-5%
5% at Amazon.com and Whole Foods Market, 2% cash back on restaurant, gas, and drugstores, 1% cash back on all other purchases
|
1.5% – 5%
5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases
|
Welcome bonus |
5%
5% cash back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval
|
$150
Up to $150 Amazon gift card upon approval
|
Up to $300
additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)- worth up to $300 cash back
|
Foreign Transaction Fee | Unknown
| 0%
| 3%
|
Purchase APR | 17.99% – 28.99% (Variable)
| 18.49% to 26.49% Variable
| 19.49% – 28.24% variable
|
FAQ
The Amazon card doesn't have a rewards limit, so you can earn cash back on all of your purchases. It has a tiered structure, so even purchases that are not on Amazon can still earn you some cash back.
You’ll need good to excellent credit for the Amazon Prime Rewards card. Although your income will be one of the factors assessed during your application, your credit score will be a more important consideration.
If you don’t get an instant decision after you submit the online application form for the Amazon Prime Rewards card, you may be waiting two to four weeks.
The top reason not to get the Amazon Prime Rewards card is that you don’t tend to spend a lot with Amazon or Whole Foods.
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