Amazon Credit Card Review: Why to choose it
Let’s make a quick check of the Amazon Credit Card Review:
- You can get a $50 Amazon Gift Card instantly upon approval
- 5% back if you have a membership
- 2% back from restaurants, gas stations, and drugstores
- 1% back from utilities, rideshare, and all other purchases
- No annual credit card fee
- No foreign transaction fees
No other card will reward you handsomely or consistently for loyalty if you spend a lot at Whole Foods or Amazon. If you don’t shop at either retailer often, you will benefit more from a card that rewards you for shopping where you love.
TABLE OF CONTENTS:
- Amazon Credit Card Pricing Information and Fees
- Amazon Credit Card Review
- The Current sign-up bonus for Amazon Credit Card
- Key features of the Amazon Prime Rewards Visa Signature Card
- What Are The Advantages And Disadvantages?
- Amazon Prime Rewards Visa Signature Card vs Capital One Walmart Rewards Card
- To choose or not to choose Amazon Prime Rewards Visa Signature Card?
- Best cards to pair with the Amazon Prime Rewards Visa Signature
All information about the Amazon Prime Rewards Visa Signature Card and Capital One Walmart Rewards Card has been collected independently by blog.unibulmerchantservices.com and has not been reviewed or approved by the issuer.
Amazon Credit Card Pricing Information and Fees
Let`s first start with the interest rates of the Amazon card.
| INTEREST RATES | |
| APR (Annual Percentage Rate) | From 16.49% to 24.49% |
| Cash Advance APR | 27.24% |
| Minimum Interest Charge | None |
| How to Avoid Paying Interest | The due date is a minimum of 21 days following the end of every billing cycle. The company will not be charging any interest on new purchases provided that you pay the entire balance or interest saving balance on the due date of every month. They will start charging you interest for a balance transfer and cash advances upon the date of the transaction. |
The fees for the Amazon Credit Card are:
| FEES | |
| Annual Membership Fee | None |
| Balance Transfers | Either $5 or 5% of each transfer |
| Cash Advances | Either $10 or 5% of each transaction |
| Foreign Transactions | None |
| Late Payment | Up to $39 |
| Return Payment | Up to $39 |
| Return Check | None |
For more information, check the Pricing & Terms.
Amazon Credit Card Review
If you’re an Amazon Prime loyalist, it’s challenging to fault Amazon Prime Rewards Visa Signature Card.
This Chase card offers a fantastic rewards rate on both Amazon.com and Whole Foods. It’s also different from other cards that stores brand. You can use it and earn rewards everywhere that accepts Visa.
Bonus rewards are also available at drugstores, restaurants, and gas stations.
Additionally, the redemption options are very flexible with the store card.
All this is for zero cost, but you’ll have to purchase the Amazon Prime membership first. People who don’t spend enough through Amazon to justify the membership cost will need to shop elsewhere.
Amazon provides a range of credit cards in the same way as this. Some are reserved for Prime membership, whereas others are available to everyone. Certain store cards are only available at Amazon, while others can be used wherever Visa is accepted.
The Current sign-up bonus for Amazon Credit Card
There is a chance to get as much as a $115 Amazon gift card when this Prime Rewards Visa card approves for you. That’s the same as the highest-value offer we saw earlier in 2021 and is a significant increase from the latest $100 gift card promotion. But, it’s important to remember that the value of this gift card might differ based on the website you make your application.
In advance of Prime Day this last June, the Amazon Prime Rewards Visa Signature card changed its initial offer to include the size of a $115 Amazon gift card after approval. It perfectly matched the 10-plus percent increase in rewards for a limited-time offer on select items. Typically they are offered during Prime Day, which could cause the lead-in period before Prime Day. Perhaps the best opportunity to apply to be eligible for the Amazon Prime Rewards Visa card is if your application doesn’t offer a total value of $150 currently.
The $100 offer was not a bad deal at all. The bonus gift card has previously been valued at less than $70. However, seeing the more competitive $150 return on gift cards can be an attractive hook.
The value of $100 was less than the lowest end of many of the most lucrative bonus offers for signing up for a credit card that typically ranges from $150 to $200, with no annual fee cards. There is, however, no minimum spending requirement for the typical Amazon credit card (you get the bonus immediately), and some credit cards do not offer the bonus for signing up.
In terms of retail cards are concerned, the reward is an excellent benefit as it covers the annual $139 cost of an Amazon Prime Membership during the very first year.
Key features of the Amazon Prime Rewards Visa Signature Card
Type of card: Amazon Credit Store Card and Rewards
Annual cost: $0
However, being a part of the Amazon Prime member family is required. The membership costs $139 annually. Be aware that a sales tax is imposed on the membership cost in several states, increasing the membership cost.
Bonus for signing up: Amazon sometimes offers gift cards in varying quantities upon acceptance. For example, you can get $50, $100, $115, or else.
Rewards:
- Get 5% off on purchases at Amazon.com and Whole Foods Market.
- 2% back in restaurants, gas stations, drugstores, and restaurants.
- 1% off on any other purchase.
Rewards are earned as points that can be worth one penny. They can be used to make qualified Amazon.com purchases, and there are no minimum requirements for redemption. You can also use points via Chase for cash back or as a statement credit or transfer into a bank account eligible for a savings or checking account with no minimum requirement.
Other options for redemption include gift and travel cards. Note that points earned with Amazon Credit Card cannot be used with the Chase Ultimate Rewards points.
APR: The current APR is 16.49% to 24.49%.
Foreign transaction fees: None.
Other advantages:
- Travel protections: Accident insurance for travelers’ loss of luggage, baggage delay insurance, emergency, and travel assistance, collision damage waiver on rental cars, waiver roadside dispatch.
- Protection from shopping: Extended warranty Purchase protection.
- Additionally: Visa Signature guard service and access to booking hotels from the Visa Signature Luxury Hotel Collection.
What Are The Advantages And Disadvantages?
PROS of Amazon Prime Rewards Visa Signature Card
- 5% back: A high earnings rate at Amazon.com and Whole Foods make everyday miscellaneous and grocery store purchases profitable.
- NO foreign transaction fees: The absence of foreign transaction charges makes this card a great cost-saving travel partner.
- 1% – 2% back: Rewards can be exchanged at a similar rate to travel, cashback, and Amazon purchases, giving cardholders plenty of options with their rewards.
- Travelers can do their business peacefully by taking advantage of the huge Chase purchase, travel protections, and Visa Signature benefits, including Luxury Hotel Collection perks and concierge services.
- Flexible rewards redemption
CONS of Amazon Prime Rewards Visa Signature Card
- $139 requirement for Amazon Prime membership
- There is no option to transfer rewards points to different programs, so cardholders are restricted to the locations where they can use their points.
- While it’s a Chase credit card, it does not get access to the Chase Special Offers and Chase Ultimate Rewards portals.
- No 0% intro APR
Amazon Prime Rewards Visa Signature Card vs Capital One Walmart Rewards Card
Ultimately, whether the Amazon Prime Rewards card or Capital One Walmart Rewards Card is the best choice depends on the merchant you shop at frequently. Both offer similar reward programs, but the Amazon card provides 2% cash back at pharmacies, while the Walmart card gives 2% cash back on travel. However, there is a possibility that the Walmart card’s travel category will probably have more reward potential. However, its gas category includes Walmart and Murphy USA gasoline stations. In contrast, the Amazon card’s gasoline category is much more flexible.
You can earn more value for your first year using the Walmart card, as it’s a 12-month cash-back rate of 5% for in-store purchases at Walmart Pay. You must spend above $3,000 in the year to surpass the Amazon $150 gift card. Other elements could help, such as:
- Higher advantages
- Lower APR (the Walmart rewards card poses a 17.99% rate, which is a 26.99% adjustable price)
- A crowded online shopping platform might be a reason to consider the Amazon Prime Rewards credit card a more desirable alternative.
To choose or not to choose Amazon Prime Rewards Visa Signature Card?
If you make a big purchase on Amazon, Whole Foods, or both, then no other card will be able to provide as much reward regularly as Amazon Prime Rewards Visa Signature Card.
If you don’t do most of your shopping at any of these places and are shopping elsewhere, you don’t need to apply for this card.
With the Amazon Prime Rewards credit card, you can easily pay back your Prime membership, better safeguard your purchases, and avail yourself of travel benefits.
The rewards of 5% are unlimited and are far superior to other credit card categories for online shopping.
However, an all-purpose rewards card can earn more if you want higher rewards rates on diverse bonus categories or other online merchants.
But Amazon Prime Rewards Visa Signature has more excellent rates and flexible rewards than most retail cards.
So, the answer is very easy.
Best cards to pair with the Amazon Prime Rewards Visa Signature
Because Amazon Prime Rewards is a card that rewards purchases, other cashback general-purpose credit cards can be great matches for even more rewards. Cards with a flat rate, such as those offered by the Citi Double Cash Card, are excellent options to earn cash back for every transaction you take.
Bank of America Customized Cash card may be better than rotating categories for this pairing method. Its online shopping category is among the most robust categories (specialty websites such as Etsy and major retailers such as Amazon.com). It can be used to swap out each month to pay for anticipated expenses.
What do people also ask?
What bank issues Amazon Prime Rewards Visa Signature card?
It’s provided by Chase Bank, so it is an official Chase credit card. This is significant because it implies you can use the Amazon Prime Rewards card that counts towards that Chase five-year rule, and you could not be eligible for the Amazon Prime card if you’ve established 5 or more Chase accounts with a credit card within the last 24 months.
However, it is worth noting that the Amazon Prime Rewards Visa Signature Card has several advantages that Chase credit cards with a branded logo are famous for, including ample travel protections and My Chase loan payment plans.
What happens to my Amazon prime Rewards if I cancel my Amazon Prime membership?
Since you don’t require the Amazon Prime account to use the Amazon credit card, canceling your Prime account will not cancel the Amazon Prime Rewards credit card. Instead, it will be relegated to the basic Amazon Rewards Visa Card, which rewards 3% when you shop at Amazon.com and Whole Foods Market purchases instead of 5%. The card does not offer Prime-exclusive, cash-back offers that are only available for a limited time.
