(Updated 1/13/20) When the new Amazon credit card, via Chase Bank, was recently announced I knew it was something I’d want to apply for. This was especially true after I checked out all of the cards benefits and figured out that the card would basically pay for my annual $99 Prime membership every year. The credit card is officially called the Prime Rewards Visa Signature Card and here’s what you need to know.
Amazon Credit Card Review:
Here are some of the perks of this Amazon Prime Rewards credit card.
- 5% Back at Amazon.com – If you have an eligible Prime membership you’ll score a sweet 5% back (via Reward Points) on all your Amazon purchases. Use your reward points to pay for part, or all, of your future Amazon purchases.
- 3% Back on all Amazon orders if you don’t have Prime.
- 2% Back at Restaurants, Gas Stations, and Drugstores – Not a huge amount but definitely significant, especially if you pay off your bill in full every month.
- 1% Back Everywhere Else.
- Free $50 Gift Card from Amazon – You’ll get this immediately after credit card approval.
- No Annual Fee.
- 15.24% – 23.24% APR – Your APR is based on your credit score.
Who’s Eligible for this Amazon Credit Card?
Unfortunately, not everyone is eligible for the 5% back on your Amazon purchases. Here’s what you need to know:
- No Invited “Guests” – If you get Prime benefits via a family member who pays for an annual membership, you are NOT eligible for the 5% back on Amazon purchases. While you won’t get 5% back, you can still get 3% via the credit card.
- Amazon Prime Fresh – Eligible for the 5% back on Amazon purchases.
- Amazon Family – Eligible for the 5% back on Amazon purchases.
- Amazon Prime Student – Eligible for the 5% back on Amazon purchases.
- Trial memberships of Amazon Prime – Eligible for the 5% back on Amazon purchases.
Bonus: Use the Card to Get Prime for Free:
- Basically Get Amazon Prime for Free – Here’s a great way of looking at this credit card. If you order at least $165 from Amazon every month, this Prime Rewards card will pay for your $99 annual membership. If you fall into this category the card is a “no-brainer”.
Ask the Reader: Do you already have this Amazon credit card in your wallet? If so, how do you like it?
By Kyle James
Photo courtesy of Amazon.com.