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If you shop a lot on Amazon and want to earn rewards on your spending, you may want to consider the Amazon Prime Rewards Visa Signature credit card.
This credit card offers 5% back on amazon.com and at Whole Foods Market, offers travel protection, a $70 introductory bonus, and more, all for an annual fee of $0.
On top of the lucrative rewards, the Amazon Prime Rewards Visa Signature card offers one of the most versatile point redemption options for any store-branded credit card on the market.
Read on to determine if the Amazon Prime Rewards Visa Signature credit card is a good fit for you and your finances.
The Amazon Prime Rewards Visa Signature Card is a co-branded reward credit card between Chase Bank and Amazon.
Cardholders are required to have an Amazon Prime membership to qualify for this credit card.
Qualified applicants will receive unlimited rewards, earnings potential, easy reward redemption options, and luxury travel benefits.
Other benefits include early access to Amazon Prime shopping events, increased discounts on certain sale items, and more.
Once an application is approved for the Amazon Prime Rewards Visa Signature credit card, cardholders can immediately reap the rewards on amazon.com, shopping at Whole Foods, and a host of other categories.
While there is no annual fee for this credit card, it is important to remember you can only apply for it if you have a $119 Amazon Prime membership.
The Amazon Prime Rewards Visa Signature card offers an extensive array of rewards earning potential across various spending categories – including categories outside of amazon’s portfolio.
Since cardholders can earn rewards outside of Amazon and its family of brands, the Amazon Prime Rewards Visa Signature credit card is a powerful daily spending card.
The primary benefit of the Amazon Prime Rewards Visa Signature credit card is the exceptional earning potential at amazon.com and Whole Foods Markets. Cardholders earn unlimited 5% back at amazon.com and Whole Foods.
Since Amazon Prime members already receive an additional 10% discount on sale items at Whole Foods, some purchases will be discounted close to 15% once you factor in the rewards rate.
Cardholders also earn unlimited 2% back at restaurants, gas stations, and drugstores – even if they are not affiliated with Amazon.
Aside from these categories, cardholders earn an unlimited 1% back on all other purchases.
Instead of cash back, the Amazon Prime Rewards Visa Signature card earns points worth 1 penny each.
Rewards can be redeemed as cash back, amazon.com purchases, statement credits, and direct deposits into a specified bank account with no required minimum redemptions.
Since the rewards are flexible, it’s easy to maximize the value of your points depending on what you need.
Most store-branded credit cards only offer credit to the store, so the Amazon Prime Rewards Visa Signature credit card is truly unique and stands out because the rewards are versatile.
Since the Amazon Prime Rewards Visa Signature credit card is a Visa Signature card, it comes with a host of additional travel benefits aside from the Amazon Rewards.
Cardholders receive 5% back on all purchases from amazon.com and Whole Foods. Rewards earning potential is unlimited, so it is important to maximize the opportunity.
Customers who spend $2,000 or more on Amazon.com or Whole Foods will generate more cash back than the Amazon Prime membership costs, which is a good benchmark to see if the card makes sense for your wallet.
Cardholders receive unlimited 2% back at restaurants, gas stations, and drugstores outside of Amazon purchases.
In this bracket, most rewards credit cards offer between 2% and 3% on these categories without the added bonus of 5% back on Amazon and Whole Foods purchases.
Cardholders receive an unlimited 1% back on all other purchases regardless of the spending category.
Since most Amazon Prime members will spend a disproportionate amount on amazon.com, Whole Foods, or the other rewards categories, 1% back on all other purchases is an excellent way to round out the earnings potential of this credit card.
Since cardholders can redeem their rewards as Amazon purchase credits, statement credits, or even direct deposits into their bank account, there are plenty of redemption options on the Amazon Prime Rewards Visa Signature credit card.
Each reward point is worth a penny, so make sure to allocate your rewards where they will deliver the most value for your financial situation.
The Amazon Prime Rewards Visa Signature credit card does not charge an annual fee; however, to qualify for this credit card, you need an Amazon Prime membership which costs $119 annually.
The Amazon Prime Rewards Visa Signature card offers some unique purchase and travel benefits on top of its lucrative rewards structure:
Since the Amazon Prime Rewards Visa Signature card is in a sweet spot, let’s see how it compares to other credit cards.
The Citi® Double cash card is one of the most practical cash back cards on the market. With the potential to earn unlimited 2% cash back, a $0 annual fee, and no bonus categories to manage, this card has something for everyone.
It’s especially beneficial if you don’t spend most of your money in one category and you want to earn a consistent cash back return.
While there is no introductory bonus, cardholders earn 1% when they swipe their card and another 1% when they pay their balance. Since there is no limit to how much cash back you can earn, this is an excellent option for the average spender.
The Amazon Prime Rewards Visa Signature credit card offers 5% back at amazon.com and Whole Foods Market, 2% back at grocery stores, gas stations, and drug stores, and 1% back on all other purchases.
There is no annual fee for this card; however, you must have an Amazon Prime membership to apply for it.
This card is best suited for consumers who go shopping on Amazon regularly and want flexible rewards options on their credit cards.
Amazon offers two different credit cards. The Amazon Rewards Visa card has no annual fee, earns 3% back on Amazon and Whole Foods purchases, 2% back on restaurants, gas stations, drug stores, and does not require an Amazon Prime membership.
The Amazon Prime Rewards Visa Signature card requires an Amazon Prime membership, generates 5% back on Amazon and Whole Foods purchases, and offers the same benefits as the Amazon Prime Rewards Visa Signature card on all of the categories.
If you want a higher introductory bonus and utilize your Amazon Prime membership, the Amazon Prime Rewards Visa Signature card makes the most sense since you get a $70 Amazon gift card upon approval and a higher earning rate.
Suppose you do not shop at Amazon enough to justify the Prime Membership. In that case, the Amazon Rewards Visa card is an excellent alternative because you get a $50 Amazon gift card upon approval and still enjoy significant rewards rates.
The Chase Freedom Flex℠ is another Chase credit card that offers 5% back on rotating categories, 3% back on dining and drugstore purchases, and 1% back on all other purchases.
The introductory bonus on The Chase Freedom Flex℠ is $200 after spending the first $500 on the card.
The Amazon Prime Visa signature credit card offers a lower introductory bonus in the form of a $70 Amazon gift card upon approval, 5% back at amazon.com and Whole Foods Market, 2% back at restaurants, gas stations, and drug stores, and 1% back on other purchases.
These cards have comparable benefits on the surface, but if you shop at Amazon regularly, the Amazon Prime Visa Signature card will generate a higher return.
However, if you shop at other online stores and grocery stores, the Chase Freedom Flex℠ may be a better option.
The Amazon Prime Rewards Visa Signature credit card is issued by Chase bank.
Since this is a lucrative reward credit card, applicants should have a credit score ranging from good to excellent (620-850).
There is no annual fee for the Amazon Prime Rewards Visa Signature credit card. However, an Amazon Prime membership is required to apply for it, which costs $119/year.
Rewards on this credit card are in the form of points. Points can be redeemed for Amazon purchase credits, statement credits, or directly deposited into your bank account at the value of one penny per point.
If you are an average consumer with an Amazon Prime account and spends a lot on Amazon and at restaurants, this card is a great option.
On top of its rewards structure, the Amazon Prime Rewards Visa Signature credit card does not charge any foreign transaction fees, making this a powerful asset when you are traveling.
Store-branded credit cards that offer flexible point redemptions options outside of the classic “store credit” are rare. This is what makes the Amazon Prime Rewards Visa Signature credit card a great option for those on the market for a new credit card and frequently shop at Amazon.com.
If you can maximize the value of an Amazon Prime membership and generate points at restaurants, and gas stations, the Amazon Prime Rewards Visa Signature credit card is an excellent choice.
However, if you do not shop at Amazon a lot and still want a flexible reward structure, something like the Chase Freedom Flex℠ or Platinum Card® from American Express may be a suitable alternative.