Amazon Credit Card Review

Written by Robert Ferry on August 21, 2022
Amazon Credit Card Review

Many people do online shopping daily at Amazon.com. Amazon has brought credit cards to help people build their credit scores and earn a lot from multiple rewards and bonus offers. Amazon Prime Rewards Visa Signature Card is the best card Amazon has offered. With this card, users can earn rewards on every dollar spent on purchases.

Chase Bank issues Amazon Prime Card, providing their users with great rewards and other valuable perks. Although Chase Bank supervises the card, you will not get benefits from offers and rewards from Chase Bank. Amazon Credit Card is a worthy option for earning rewards in different categories and redeeming them for Cashback.

Amazon Prime Credit Card has more valuable perks, benefits, and rewards programs than other credit cards. The card does not charge any annual fee or foreign transaction fee. Every cash point you earn with the card is equivalent to 1 cent. The card is the best choice for consumers who shop a lot at Amazon.com and take groceries from Whole Food Market.

Features

  • Rewards Rate: 1% to 5%
  • Welcome Offer: $150 or more for Amazon Gift Card
  • Recommended Credit Score: 670 to 850, Good to Excellent
  • Regular APR: 15.74% to 23.74% Variable
  • Purchase intro APR: N/A
  • Balance transfer intro APR: N/A
  • Annual Fee: $0 ($139 for Amazon Prime Membership)
  • Balance Transfer Fee: None
  • Foreign Transaction Fee: None
  • Best for: Frequent shoppers at Amazon.com

Rewards Rate

Amazon Prime card offers several rewards to its frequent users. Cardholders who spend a lot at Amazon or Whole Food Market are more likely to earn rewards for many categories with their Prime card. Users are required to pay $2,780 yearly or $232 monthly to maintain their Amazon Prime Membership.

How to Earn

You can earn unlimited 5% rewards after making purchases at Amazon.com and Whole Foods Market. The card also offers a 2% cash back bonus for the spending on gas stations, dining, and drugstores, and 1% cash back on all other eligible purchases. The 5% reward rate is also applied for the purchases of Whole Foods Market.

You can earn unlimited rewards if you spend your earnings at the grocery store. This is how Amazon Prime Rewards Visa Signature card makes its worth for frequent grocery shoppers. With Amazon credit cards, every cash point you earn equals 1 cent. For instance, if you earned 50,000 Amazon cash points, it will be equal to $50.

You can earn rewards except for the one's card offer by taking advantage of the side deals offered by Amazon.com. Remember to avail of the "Subscribe and save deals" option on Amazon's site. These limited-time offers will give you different Amazon gift cards, discounts, and rewards. Moreover, you can also receive rewards from the mentioned retailer's promotions on the site.

As Chase issues Amazon credit cards, users can get multiple rewards from Amazon and Chase on different occasions. Amazon regularly offers "Exclusive Prime cardmember" to its cardholders for a limited time. These offers can get you 10 to 25% cash back on multiple categories.

How to Redeem

Amazon Prime credit cards offer Cashback for your rewards, but they are cash points. You can redeem your cash points for multiple options, including gift cards, Cash back, travel, and purchases at Amazon on checkouts. The best option is to redeem points for Cashback.

Although the card does not limit you to redeeming a specific number of rewards points, you are restricted from redeeming your cash points for limited categories. You can't use your points for everything, including small purchases like video downloads and music.

Welcome Offer

Amazon Prime Rewards Visa Signature Card offers its new cardholders a welcome offer of $150. The company will transfer their intro bonus offer to their account as the users qualify for the card. New Members of Amazon Credit card can use their signup bonus for Amazon gift cards. The intro bonus offer depends on your credit score and the card you have applied for.

The card had the welcome offer of $100 for the past years, which is not bad, though. Some other credit cards also offer $100 for any reward or welcome offer. It was in 2021 that the intro bonus offer was raised to $150 on Prime Day. Card members are now awarded 10% more amount as a signup reward. Users are not restricted with credit limits for their spending.

A major perk of the card is that you don't have to pay any annual fee. Cardholders are required to pay $139 for the first year of an Amazon Prime Membership subscription. After the first year, you will be awarded many perks and benefits to manage your spending. Amazon credit card is worth buying as you can get $150 initially without any annual fee.

Rate and Fees

Amazon credit cards have standard rates for rewards and fees. No annual and foreign transaction fees make the card a good deal. To buy Amazon credit cards, you need to have an Amazon Prime Membership subscription of $14.99 monthly and $139 yearly. The yearly offer is for those who want to pay for the upcoming year.

In February 2022, the card had a membership of $119 yearly, which is now raised to $139 annually. Users are required to maintain their spending of $400 or more every year. The purchases can be made only at Amazon.com and Whole Food Market. You must get rewards and bonus offers from the card to maintain your membership with your spending.

Amazon offers multiple perks and benefits to its users, but if you are not a frequent shopper of Amazon, the card is not worthy for you. The card is best for users who regularly shop and take advantage of the Amazon services such as Prime Video. To maintain your membership, you must spend $232 monthly purchases at Amazon.com and Whole Food Market.

If you are not a frequent shopper of Amazon, you must avail the benefits and rewards of the card. The card does not charge any annual or foreign transaction fees, so that you can get the best out of the card. No foreign transaction fee is a good deal for users who travel a lot. The card requires a regular APR of 15.74% to 23.74%, which is comparatively low with other credit cards.

Advantages

  • The card offers high rewards for spending at grocery stores and online purchases at Amazon.com and Whole Foods.
  • The card offers a welcome signup bonus of $150 to its new card members.
  • The card does not charge any annual fee but has to buy Amazon Prime Membership.
  • The card does not charge any foreign transaction fee, so that users can travel overseas without any payments.
  • Users can redeem their rewards for purchases at Amazon, travel spending, and Cashback.
  • The card provides travel protection advantages with its Visa Signature perks, Hotel benefits, and other services.
  • The card offers several benefits with its purchase protection.

5% Cash Back

The Amazon Prime Rewards card offers 5% unlimited cash back on purchases at Amazon.com and Whole Food Market if you maintain your membership. You can earn 2% cash back on gas stations, restaurants, and drugstore purchases. Also, the card offers 1% cash back on all purchases of other categories. Cash back rewards are cash points that you can redeem in multiple forms.

No Annual Fee

Amazon Prime Rewards Visa Signature Card does not charge any annual fee, making it a card worth buying. You must only have the Amazon Prime Membership for the first year to get the card. The membership subscription will cost you $119 for a year.

No Foreign Transaction Fee

The Amazon Prime Rewards Visa Signature Card is the best choice for people who travel frequently. The card does not charge any foreign transaction fee, so that they can travel without charges. Compared to other credit cards that offer a 3% foreign transaction fee, the Amazon card is very useful.

Travel Protections

Amazon Prime Rewards Credit Card provides its users with many perks and benefits for travel. Even though some co-branded store cards do not offer high rewards, Amazon credit cards give its travel protection along with other benefits and rewards.

The card offers multiple insurance plans, including $500,000 or above for any accident during travel, $3,000 if you lost your luggage, and $100 daily for three days if you miss your baggage and find it late. All these travel perks make the card a good choice to use.

Other than travel protection for air travel, you can waive the auto rental collision for road travel damage. The card also offers roadside dispatch service for any query or assistance you need during travel. The card will help you with any problem, damage, or assistance in your journeys.

Purchase Protections

Credit cards offer different purchase protection services but with low coverage. It means that you get purchase protection with other credit cards but don't get efficient results for shipping damage. Unlike other credit cards, Amazon Prime Rewards credit cards offer purchase protection for any damage or theft.

The purchase protection of Amazon provides $500 for each claim or $50,000 for every account holder. If you face any difficulty, such as damage or theft in your purchases at Amazon, the card will cover all your damage. Also, Amazon credit card offers its assistance service to users for any help.

Amazon Prime Rewards Visa Signature Credit Card does not provide the facility of returning the protection offered. The card's drawback is that it does not offer your money back. The returning protection policy is unique if any card offers to you.

Luxury Hotel and Concierge Service

The Amazon Visa Signature Card offers its card members seven unique perks for their stays and assistance. The seven amenities are called "VIP Guest status" and include perks like automatic upgrading of rooms and some other privileges.

The card also offers Concierge services, such as a 24-hour personal assistant for booking tickets and making reservations. This service can save time and provides personal assistance, so you can enjoy your travel without wasting time on small things like booking tickets.

Disadvantages

  • The card requires a $139 Prime membership of Amazon from its users, which is high.
  • The card does not offer a 0% Intro APR for purchases or balance transfers.
  • The card offers limited redemption options for users to redeem rewards and bonuses.
  • Although the card is linked with Chase, it does not offer its users any Chase Rewards or Offers.

No 0% Intro APR offer

The Amazon Credit card is not a valuable option for users who want a 0% APR on their first large purchase. The card does not offer a 0% Intro APR for purchases or balance transfers. You can use other credit cards if you want to get this offer. Otherwise, the card is a good option for getting other travel, food, and hotel perks.

How the Amazon Prime Rewards Visa Signature Compares to Other Rewards Cards

Although credit cards offer rewards for online and in-store purchases, Amazon Prime Rewards Visa Signature Card provides users with many perks for spending at Amazon.com and Whole Food Market. Every company and financial institution in the market is fulfilling some purpose. For example, Walmart is helping customers have good earnings with their spending with cards like Capital One Walmart Rewards Card.

Also, Bank of America is fulfilling many dreams of consumers and offering them many opportunities to pay off their debts, live a good life, and progress in their businesses. The best credit card by Bank of America is Customized Cash Rewards Credit Card which helps people earn a lot. Moreover, Blue Cash Preferred Card from American Express is also a good choice for consumers who want to earn rewards and make savings.

All the above cards are worth buying depending on the spending habits and requirements. Following is the comparative study of the Amazon Prime Rewards Visa Signature Card with some other credit cards.

Amazon Prime Rewards Visa Signature Vs. Capital One Walmart Rewards® Card

The best card selection between Amazon Prime Rewards Visa Signature Card and Capital One Walmart Rewards Card depends on your chosen issuer and retailer. Both cards offer similar rewards, except the Amazon Prime Card has a 2% cash back reward for drugstore purchases. On the other hand, Walmart Rewards Card offers 2% cash back for the purchase of travel.

Although Walmart Rewards Card offers multiple travel perks to its card members, its rewards category for gas stations only covers Murphy USA and Walmart gas stations. At the same time, Amazon Prime Card has more flexible options for the gas category. Both cards do not require any annual fee. With the Amazon Prime card, users must maintain a regular APR of 15.74% to 23.74% Variable, whereas Walmart Rewards Card has a standard APR of 17.99% to 26.99% variable, which is high.

The credit score requirement of Amazon Prime Card is good to excellent, ranging from 670 to 850. In contrast, Capital One Walmart Rewards Card requires the user to have a credit score of 580 to 740, which is fair to Good. As an overall estimation, Amazon Prime Rewards Visa Signature Card is better than the Capital One Credit Card. The reason is that Amazon is an online shopping platform, and many users are regular customers.

Amazon Prime Rewards Visa Signature Vs. Bank of America® Customized Cash Rewards Credit Card

Although Amazon Prime Rewards Visa Signature Card is good for frequent online shopping users, the Bank of America Customized Cash Rewards credit card is the best credit card for many cashback offers and rewards. The card offers 3% cash back on the shopping category and a 2% cash back offer on wholesale clubs and grocery store purchases. Also, the card offers 3% cash back on multiple categories such as travel, gas, and dining.

Meanwhile, the Amazon Prime Card offers its 5% cash back offer to its subscribers of Amazon Prime Membership. The card offers a 2% cash back reward for the purchase at drugstores. Although the Amazon Prime card offers rewards for online payments Bank of America has coverage over major retailers. These retailers include Walmart.com, Amazon.com, and some other websites such as Etsay.com.

Users with the Amazon Prime card must maintain a regular APR of 15.74% to 23.74% Variable, while the Bank of America Customized cash card has a high APR. The card offers a 0% Intro APR for the first three months. Amazon Credit Card does not submit a 0% intro APR offer but provides users unlimited rewards.

The credit score requirement of both Amazon Prime Card and Bank of America Customized Cash Card is similar. Both need a good to excellent credit score ranging from 670 to 850. Many people find maintaining their Prime Membership on Amazon and regular shopping difficult. For this reason, you should consider Bank of America Customized Cash Rewards as your priority.

Amazon Prime Rewards Visa Signature Vs. Blue Cash Preferred Card from American Express

The Amazon Prime Card has a 5% cash back offer for purchase at Amazon.com, grocery shopping at Whole Food Market, a 2% cash back reward for the purchase at drugstores, and a 2% cash back offer on all eligible purchases. American Express Blue Cash Preferred Card offers 6% cash back rewards for multiple categories such as restaurants, travel, grocery stores, and gas stations.

The American Express Credit Card offers a welcome offer of $350 to new cardholders. In contrast, Amazon Prime Card has an intro bonus offer of $150. Both cards provide users with multiple categories for redeeming their earned points and Cashback. But you can redeem the intro $350 points for statement credit only. Users must maintain a regular APR of 15.74% to 23.74% with the Amazon Prime card.

While Blue Cash Preferred Credit Card has a high regular APR of 16.24% to 27.24% variable, a major perk of Amazon Prime Credit Card is its $0 annual fee. The Blue Cash Preferred Card charges its users a $95 annual fee. Amazon Prime Credit Card users need to subscribe to Amazon Prime Membership monthly or yearly.

The credit score requirement of both Amazon Prime Card and Blue Cash Preferred Card is similar. Both cards require a good to excellent credit score ranging from 670 to 850. The Amazon Prime Rewards Visa Signature card is a better option than Blue Cash Preferred Card. It has a low APR and no annual fee with many perks and benefits.

FAQs

Some of the frequently asked questions about Amazon Prime Rewards Credit Card are as follows:

What is the Credit Limit for the Amazon Prime Rewards Visa Signature Card?

An Amazon Prime Rewards Visa Signature Card is not limited to spending and purchases. It means you are not bound to spend a specific amount on purchases and can earn the rewards. There is a mentioned credit limit on Amazon's site which you have to maintain with the card.

The card requires a credit limit of $500 or $10,000 from its users. This limit is set following your credit score, income, or spending. Many users find the minimum credit limit of $500, but a few cross the limit of $10,000. It is a possibility that you can have a minimum or maximum credit limit.

What is the Annual Fee for the Amazon Prime Rewards Card?

There is no annual fee for the Amazon Prime Rewards Visa Signature Card. Instead, you must pay and subscribe to the Amazon Prime Membership to get high rewards rates. The card offer rewards offer of 5%, but if you don't have any membership, you cannot avail of only 3% of them.

You can pay the Membership fee on a monthly or yearly basis. The membership fee will be $15 monthly or $139 yearly. You can spend small amounts monthly or make one payment every year. If you frequent online shopping at Amazon, the card is the best option for spending.

What Are the Reward Rates for the Amazon Prime Rewards Card?

The Amazon Prime Rewards Visa Signature Card offers multiple rewards on different bonus categories to users with Amazon Prime Membership. These rewards are:

  • Unlimited 5% cash back rewards on the purchases at Amazon.com and grocery at Whole Food Market.
  • Unlimited 2% cash back on dining, drugstores, and gas station purchases.
  • Unlimited 1% cash back on all purchases of other categories.

If you don't have an Amazon Prime Membership, you can only earn rewards rates of 1% to 3% for different categories. You need to subscribe to the Amazon Prime Membership to get high rewards. With the subscription, you will be eligible to earn 5% rewards.

Can Students Qualify for the Amazon Prime Rewards Visa Signature Card?

Yes, Amazon also qualifies students for its credit cards. As long as the student fulfills all the requirements of the card, they can qualify for the card. The eligibility criteria are similar for all the applicants, whether students or others. Applicants are required to have an Amazon Prime or Amazon Prime Student membership for approval.

Moreover, they need to have a form of income and credit history. They can apply for the card with their fixed or temporary jobs or other income sources. The credit score requirements of the card are good to excellent, ranging from 670 to 850. Usually, students do not have a good credit score to qualify for the card with their good credit history.

What Bank Does the Amazon Prime Rewards Signature Card Use?

Amazon Prime Rewards Visa Signature card is a Chase Credit Card. The card is issued by Chase Bank, which covers all the card's perks and benefits. A major bonus of the card is its rewards and benefits are more than any other credit card with both Amazon and Chase.

With Chase credit cards, users must follow the 5/24 rule that restricts users from opening 5 credit card accounts within twenty-four hours. Meanwhile, Amazon Prime Rewards Visa Signature Credit Card offers many benefits and perks unavailable with Chase accounts or may have high-interest rates.

Conclusion

Amazon Prime Rewards Visa Signature Card is the best fit if you regularly shop at Amazon and spend your money on groceries at Whole Food Market. The best cashback cards offer a 5% reward and a few benefits. Amazon Prime Credit Card offers a 5% cash back offer to card members for multiple categories, including purchases at Amazon.com.

Unlike other cards, Amazon Prime Rewards Visa Signature card does not require users to spend within a limit and then earn rewards. Users must maintain a $500 to $10,000 yearly credit limit on their purchases. If they manage to make purchases timely, the card will award you with more perks. You can earn travel and purchase protection along with other limited offers.

The card does not have an annual fee or charge any foreign transaction fee. You can easily travel outside the U.S without any cost or charges. You must buy Amazon Prime Membership for the first year and enjoy unlimited rewards on all categories with an intro bonus offer of $150. Use the card, spend money at Amazon.com or Whole Food Market, and earn many rewards.

Article written by Robert Ferry
We are an unbiased knowledge center for finance and our goal is to help you make your own, educated decisions about getting your credit life turned around.
Credit Optimal is an unbiased knowledge center and our goal is to help you make your own, educated decisions to getting your credit life turned around.
Copyright © 2022 Creditoptimal.com