Our Thoughts On The Capital One Venture Rewards Credit Card
For those who want to earn travel rewards, the Capital One Venture Rewards Credit Card is one of the best, as youll earn a standard 2 Miles per dollar on every purchase, every day. Whether youre an Amazon Prime member or not, you can use your Capital One Venture Rewards Credit Card on Amazon purchases and an infinite number of other retailers to earn 2X Miles. You can then transfer your miles to any of Capital One’s 15+ travel partners or erase any travel-related charges on your card.
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Chase Freedom Unlimited: Best For Flexible Rewards
If youre not sure whether you want cash back or travel points, a good compromise option could be the Chase Freedom Unlimited. With this card, youll earn 1.5% cash back on every purchase you make, including those at Amazon. Thats less than the Citi Double Cash, but in exchange for a slightly lower earning rate, youll get rewards that are potentially more flexible and valuable down the line.
When you pair the Chase Freedom Unlimited with a premium Chase Ultimate Rewards card, such as the Chase Sapphire Preferred Card or Chase Sapphire Reserve, you can convert your cash back to travel points at a rate of 1 cent per point. Then youre able to redeem those points for travel at an increased value of 1.25 to 1.5 cents apiece via the Chase travel portal, or in other categories by using Chases Pay Yourself Back tool.
Even better, once youve converted your cash back to points, you can transfer them to any of Chases 14 airline and hotel loyalty partners. This amazing flexibility is why frequent flyer website The Points Guy values Chase Ultimate Rewards points at 2 cents apiece. At that rate, since youre earning 1.5% cash back on the Freedom Unlimited, you could effectively end up with a 3% return on all of your Amazon purchases.
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Where Can Someone Get The Amazon Prime Rewards Signature Visa Card
Interested customers can apply for the card online at Amazon.com. However, the vetting process will go through Chase Bank, which authorizes and administers the financial logistics and the approval process.
According to Amazon.com, “if your application is instantly approved, you’ll be taken to a page that includes the Cardmember Agreement, the terms of your Amazon Rewards Visa Signature account, and other important information.”
Conversely, if your application isn’t approved instantly, Chase Bank will inform you about your status after reviewing your credit history. This takes approximately two to four weeks. Amazon recommends waiting two weeks after submitting your application before contacting Chase Bank.
You Can Earn A Lot Of Rewards
The number of points you can earn with the Amazon Prime Rewards Visa Signature Card depends on where you shop.
- 5% back on purchases at Amazon.com and Whole Foods
- 2% back on purchases at gas stations, restaurants and drugstores
- 1% back on all other purchases
You can then redeem those rewards toward an eligible purchase on Amazon.com. But its worth noting that you have other options for redemption, like cash back, gift cards and travel. In these cases, $1 of rewards is equal to 100 rewards points, and vice-versa.
In other words, you can get the same value out of this card with cash back as you could with eligible Amazon.com purchases. That makes this card more versatile than many store-branded credit cards, which usually require that you use your rewards only at the store and its affiliates.
Similarly, while other cards offer 5% cash back on purchases, they may switch which stores or categories youll earn with throughout the year and limit how much you can earn.
The Amazon Prime Rewards Visa Signature Card offers unlimited earning potential. Plus Amazon sells a wide variety of products theres a reason its sometimes called The Everything Store. And though its not called out specifically on Amazon, you may even be able to get 5% back when purchasing gift cards for businesses other than Amazon or Whole Foods through Amazon.com.
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Alternate Pick: Amex Everyday Preferred Credit Card*
If youre primarily looking for rewards on everyday spending, consider the Amex EveryDay® Preferred Credit Card*. For an annual fee of $95 the card offers the following rewards: earn 3 points per dollar at US supermarkets, on up to $6,000 per year in purchases , 2 points per dollar on US gas stations and 1 point per dollar on other eligible purchases. The welcome bonus will help you score some extra cash back on Amazon.com, too: earn 15,000 Membership Rewards points after you use your new card to make $1,000 in purchases in your first 3 months of account opening
Downsides Of The Amazon Rewards Visa Signature Card
Not the Best for Whole Foods Lovers
If youre considering this card because you frequent Whole Foods, you may want to consider other cash back;cards that offer increased rewards for supermarket purchases.
An Even Lower Sign-Up Bonus
With a minuscule sign-up;bonus that comes in the form of a $50 Amazon;gift card, this card fails to deliver in the bonus department.
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Which Credit Card Is Best For Your Amazon Purchases
With so many credit cards available to maximize your Amazon purchases, youre probably wondering which card is best especially for your summer and back to school purchases. If you want a card that offers straight cash back, you might find the Citi Double Cash to be the ideal card. Or, if your goal is to earn points for travel, youll want to consider the Chase Freedom Unlimited or Capital One Venture.
If youre looking for a new credit card, the welcome bonus on the Blue Cash Preferred is ideal for Amazon purchases during the first six months you have the card. And if youre a business, then the is obviously the best choice.
Although, during Amazons major yearly sales, such as Prime Day and Black Friday, youll most likely find that the is your best bet, since there are so many promotions exclusively for card holders.
But if your chief concern is protecting your purchase, regardless of the cash back or travel rewards youd earn, consider the American Express Gold card. And if youre willing to go the extra step of purchasing Amazon gift cards at U.S. supermarkets, then the Blue Cash Preferred or Amex Gold can earn you the most cash back or travel rewards.
Looking for the best overall credit card? Find out which cards CNN Underscored chose as its best credit cards of 2021.
Amazon Prime Store Card Vs Amazon Prime Visa Card: At A Glance
Synchrony and Chase each offer two versions of their Amazon cards one for Prime members and one for nonmembers and youre automatically assigned one or the other when you apply.
Whether you opt for an Amazon store card from Synchrony or an Amazon Visa from Chase, being a Prime member is key if you want to maximize your .
While youll earn 5% back on Amazon purchases with either the Amazon Prime Store Card or the Amazon Prime Visa card, the two cards vary considerably in other areas, including their sign-up bonuses, approval odds and cardholder benefits.
|Amazon Prime Store Card|
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Best Amazon Card For Annual Fee
Lucky for you, none of the four Amazon credit cards come with any annual fee. But that doesnt mean theyre all totally free. The Amazon Prime Rewards Visa Signature Card and the Amazon Prime Store Card do require that you have a current Amazon Prime membership, which runs $119 per year, or $12.99 a month.
Best For Building Credit: Amazon Prime Secured Card
If you have a limited credit history or are working on rebuilding your credit after a few financial missteps, both the Amazon store cards and the Chase Amazon cards may be temporarily out of reach. And since nearly every new credit card application will result in a hard pull of your credit report, it makes sense to limit applications to cards that offer a decent chance at approval.
A great starting point is the Amazon Prime Secured Card, a secured version of the Amazon store cards. Also issued by Synchrony Bank, the Amazon Prime Secured Card charges no annual fee but requires you to put down a refundable deposit of $100 to $1,000 , which doubles as your credit limit.
To start, the card offers 2% back on Amazon.com purchases for Prime members. After 12 months of responsible use, you may be able to graduate to an unsecured Amazon store card, get your deposit back and boost your cash back rate to 5% on Amazon.com purchases with a Prime membership. The card also charges an ultra-low fixed APR of just 10% and a late fee of up to $5 .
Once your credit score improves, you can also look for a more flexible cash back credit card like one of the Amazon Visa cards. Just keep in mind that since the Amazon store cards and Amazon Visa cards have different issuers, you cant request a product change from one to the other. Youll need to put in a separate application and face a separate hard credit inquiry.
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Another Amazon Card Option
I might be better off with the . You can get this card without subscribing to Prime. The Amazon Rewards card pays:
- 3% back at and Whole Foods Market.
- 2% back at restaurants, gas stations and drugstores.
- 1% back on all other purchases.
New cardmembers receive a;$50 Amazon.com gift card instantly upon approval.
I could get a slightly better return, but Id have to use the Chase Freedom Unlimited, which earns 1.5% cash back on most purchases , and transfer those points to my Chase Sapphire Reserve account, where each point is worth 2 cents on average when you redeem them with travel partners, according to TPGs latest valuations.
Visa Signature Luxury Hotel Collection And Concierge Service
The Visa Signature level of the Luxury Hotel Collection grants cardholders seven VIP Guest status amenities, including automatic room upgrades when available and other complimentary privileges.
When you need to save time planning your travel or even at home, the free Visa Signature Concierge Service is like a 24-hour personal assistant that can book reservations, tickets and more.
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Is The Amazon Prime Rewards Visa Credit Card Good For Travel
You won’t earn bonus points for travel purchases, but the Amazon Prime Rewards card does come with Visa Signature travel perks. They include complimentary concierge services for help with travel, priority access and special rates at Luxury Hotel Collection properties, lost or delayed baggage coverage, no foreign transaction fees and travel/emergency assistance.
Amazon Credit Card Review Summary
The figures to become increasingly popular, not to mention more valuable, as Amazon.com strives to canopy the farthest reaches of digital-age commerce.
For starters, Amazon points are basically as good as cash since they can be redeemed for anything on the site which, as we all know, is pretty much anything. One point is worth a penny, and 10,000 points can be used to buy an item priced at $100.;The three points per dollar spent on Amazon.com orders and Whole Foods Market that youll get with this card can therefore be thought of as 3% cash back. By that logic, youll also earn 2% cash back at gas stations, restaurants and drug stores as well as 1% everywhere else.
Add a $50 gift card initial bonus to the mix and subtract an annual fee, and its pretty clear that the Amazon.com Credit Card is a must-have for online shoppers. The offer is not without flaws, however, and perhaps the biggest shortcoming is that its 1% base earning rate represents only the for rewards credit cards.
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Amazon Prime Rewards Visa Signature Card Review: Should You Get It
Advertiser Disclosure: ValuePenguin is an advertising-supported comparison service which receives compensation from some of the financial providers whose offers appear on our site. This compensation from our advertising partners may impact how and where products appear on our site . To provide more complete comparisons, the site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products.
Editorial Note: The content of this article is based on the authors opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
Citi is an advertising partner
For Amazon Prime members, there’s a lot to love about the Amazon Prime Rewards Visa Signature Card, which comes with a 5% rewards rate that’s hard to beat.
Whether you’re shopping for routine household products or new patio furniture, Amazon has you covered. Paired with the acquisition of Whole Foods, it’s no wonder that many consumers do the bulk of their shopping at Amazon. As an Amazon Prime member, you’ll enjoy benefits such as free two-day shipping, free Whole Foods delivery in eligible areas and more.
Amazon Rewards Signature Visa Credit Card
The Amazon Rewards Signature Visa card is another alternative if you don’t have a Prime membership but want the convenience and the benefits of an Amazon Visa credit card. The Amazon Rewards Signature Visa is nearly identical in its perks and terms and conditions as the Prime Rewards Visa Signature Card, with one exception, if you are not a Prime member, you will only reap a 3% reward when you shop on Amazon.com and at Whole Foods.
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If You Count Yourself As A Loyal Amazon Customer You Might Be Able To Earn A Nice Chunk Of Your Spending Back Or Even Finance Your Purchases With One Of The Amazon Credit Cards
There are four to choose from, so how do you pick which one is right for you? Here are a few questions to ask.
- What type of Amazon shopper are you ?
- Do you want the option to finance a large Amazon purchase or not? Well guide you through your four choices in this Amazon credit card review so that you can make the best decision for yourself.
- Are you a frequent Whole Foods shopper? As of October 2020, eligible Prime members will earn 5% back on Whole Foods Market purchases when using the Amazon Prime Rewards Visa Signature Card. Cardholders who arent eligible Prime members will now earn 3% back on Whole Foods Market purchases when using the Amazon Rewards Visa Signature Card.
The 5% Cash Back Calendar
Each quarter, the Discover it® Cash Back lets you earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate, 1% unlimited cash back on all other purchases – automatically Here’s the 2021 bonus category calendar:
Since Prime Day falls under the 5% bonus categories for the fourth quarter, be sure to use your Discover it® Cash Back to maximize your purchases.
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Best For Amazon Financing: It Depends
While both the Amazon store cards from Synchrony Bank and the Amazon Visa cards from Chase come with promotional offers for cardholders, the terms are slightly different.
If youre looking to pay off an Amazon purchase over time and are debating which route to go, you may need to choose between a longer financing period and a lower minimum purchase requirement .
Both cards let you choose between Equal Pay financing which charges no interest if you make your equal monthly installment payments on time and Special Financing which uses a deferred interest model.
While the difference is not dramatic, Synchronys Amazon store cards offer longer financing periods on Equal Pay purchases. With the store cards, you can get six, 12 or 24 months to pay off your minimum purchase of $150, $600 and $800, respectively. The Chase Amazon Visa cards, on the other hand, offer six-, 12- and 18-month financing plans on minimum purchases of $150, $250 and $500, respectively.
Keep in mind, the 25.99% variable APR on Synchronys Amazon store cards is fairly high compared to the average credit card interest rate and could come back to bite you if you opt for Special Financing.