Thursday, November 24, 2022

Should I Get An Amazon Credit Card

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New 0% Intro Apr Card

Should you get the Amazon Prime Rewards Card by Chase?

A new credit card that offers a 0% introductory APR on purchases will allow you to carry a balance for several months and save on interest on all new purchases.

Two of your best options at the moment are the Blue Cash Preferred® Card from American Express and the Blue Cash Everyday® Card from American Express.

Thats because not only do both cards come with a 0% introductory APR on new purchases , they also offer rewards on Amazon purchases as part of their welcome bonus.

The Blue Cash Everyday and Blue Cash Preferred cards offer 20% back on Amazon.com purchases for your first six months as a cardholder, with a $150 and $200 cash back cap, respectively.

The Discover it® Cash Back card is another great choice. It comes with a 0% introductory APR on purchases for the first 14 months and the Discover cash back calendar for 2021 lists Amazon.com purchases as eligible for 5% cash back from October through December .

Tip: You can check if you prequalify for a new credit card at many issuers sites or use a tool like CardMatch to search across multiple issuers for prequalified offers that fit your credit profile. Prequalification will help you get a better sense of your odds of approval before you apply.

Looking For A Credit Card With Poor Credit

If you currently have only limited, poor, or average credit, and are looking for a real credit card, we currently recommend theMilestone® Gold Mastercard®instead of the Amazon.com Card.

This is because the Milestone® Gold Mastercard® allows you to see if you’re pre-qualified before you apply for the card – so you don’t have to risk having your credit pulled, only to be denied a card.

The Milestone® card is a Mastercard® which means that it can still be used on Amazon and at millions of merchants around the world.And your application will be considered even if you have a prior bankruptcy.

Amazon Prime Rewards Visa Signature Card Vs Bank Of America Cash Rewards Credit Card

The Bank of America® Cash Rewards Credit Card is another popular option that lets you choose how you want to earn rewards. You’ll earn 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases.

The 3% purchase categories include gas, online shopping, dining, travel, drug stores or home improvements and furnishings, and you can choose your bonus category monthly. If you happen to spend more at Amazon, or on other online purchases, in a particular month, you can choose to earn 3% on online shopping.

The sign-up bonus may be harder to achieve for some consumers: Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening. If you prefer to diversify your spending, the Bank of America® Cash Rewards Credit Card can help adjust your rewards to your specific needs.

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Benefits Of The Amazon Credit Card

The Amazon credit card offers cardholders a number of rewards and benefits. One of the best benefits is that youll earn cash back on all your purchases.

Youll earn on purchases as follows:

  • 3 percent cash back for Amazon purchases
  • 2 percent cash back at restaurants, gas stations and drugstores
  • 1 percent cash back on all other purchases

Cardholders can use their cash back rewards toward Amazon purchases youll see your rewards balance during checkout, and no minimum rewards balance is required in order to redeem. You can enjoy these perks without having to pay an annual fee, and you wont be charged any foreign transaction fees when you use your Amazon credit card abroad.

Learn:

Amazon Rewards Visa Card Review

Should I Get The Chase Amazon Rewards Visa Signature ...

Lauren Barret|

Modified date: Aug. 18, 2021

The Amazon Rewards Visa card has always been a dark horse in the rewards card race. Its most recent updates have made it a must-have for your walletwhether youre a Prime member or not.Ive long thought of the as something of a dark horse in the : While underestimated and unflashy, it offers features that can fill significant gaps in your personal finance toolkit.

And now that card has gotten significantly better, making it of a competitor with shinier and more expensive cardseven ones like Chase Sapphire Preferred® Card.

Whats Ahead:

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Best Amazon Card For Benefits

The two Visa Signature cards finish in a tie in the race between the Amazon cards with the best benefits. Both cards have a standard suite of Visa benefits, including purchase protection and extended warranty, which extends any existing manufacturers warranties on a purchase you make with your Visa card.

Both Visa Signature cards also come with a great suite of travel benefits. There are no foreign transaction fees when you travel abroad. Youll be covered with enough protection to make any insurance salesman jealous: travel accident insurance, baggage delay insurance, auto rental collision damage waiver and lost luggage reimbursement.

Is It Worth Signing Up For Amazon Prime

Amazon Prime costs $119 per year, comparable to the cost of many credit cards with annual fees. Since the Amazon Prime Rewards Visa Signature Card is only open to existing Prime members, you may wonder if it’s worth opening a membership if you don’t own one already. Here is the list of the ongoing benefits you’ll enjoy with Amazon Prime:

  • Free two-day shipping on millions of eligible products, with free same-day or 2-hour delivery in select cities
  • Extra 10% discount on sale items at Whole Foods
  • Prime Video, offering access to thousands of movies and TV shows for free
  • Prime Music, offering over two million songs ad-free with the opportunity to upgrade to Amazon Music Unlimited at a Prime member rate
  • Amazon Photos, with free unlimited photo storage shareable to up to five family members or friends
  • 30-minute early access to Amazon Lightning Deals
  • Borrow one e-book for free on any Kindle device

If you live in a metropolitan area, Whole Foods offers free two-hour delivery or one-hour same-day pickup, which can be helpful to grocery shoppers who need items in a pinch. While the shipping benefit alone is why millions of people subscribe to Amazon Prime, there are many entertainment and shopping perks with this subscription.

Amazon Prime also offers a free six-month trial exclusively for college students. After that, you’ll enjoy a 50% discount on membership while you’re still a student.

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Amazon Store Cards Vs Other Rewards Credit Cards

Its always smart to compare the different Amazon credit card options to some of the most popular rewards cards on the market.

Specifically, we were interested in whether any other cards could help you save the same amount or more on Amazon purchases.

Heres a quick rundown of the top card alternatives for Amazon shoppers:

Is The Amazon Prime Rewards Visa Credit Card Good For Travel

AMAZON CREDIT CARD | Is it worth it 6 months later?

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.

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Might Lead To Unnecessary Spending

Like falling into a black hole of Googling, its easy to get lost in Amazons maze of inventory, only to emerge with a big ole bill. And since Amazon rewards could serve as another reason to throw caution to the wind and embrace the short-term pleasure of purchasing, cardholders should stay on the lookout for overspending. Amazon.com, unlike an airline or hotel chain, is open 24/7/365 and always at your fingertips.

How The Amazon Prime Rewards Signature Visa Card Works

Amazon.com is the virtual store that has everythingand at low prices. Order it today have it as soon as tomorrow. Not only does it offer a wide variety of goods, but the company also offers a co-branded visa card, especially for its Prime members.

The Prime Rewards Signature Visa is similar to its alternative co-branded card, named the Amazon Rewards Signature Visa credit card. Both credit cards can be used anywhere Visa is accepted and are backed by Chase Bank USA, N.A., a subsidiary of JPMorgan Chase & Co., which handles all revolving credit services and issues.

The card can be used anywhere that accepts Visa. The card offers 5% cashback on all items purchased on Amazon.com and Whole Foods markets. Newcomers get a $100 Amazon.com Gift Card instantly upon credit card approval. Cardholders may select a card design featuring either Amazon or Whole Foods, as well.

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Where Can The Amazon Prime Rewards Signature Visa Card Be Used

You can expect to use your Amazon credit card anywhere that takes Visa, most likely anywhere in the U.S., and over 150 countries worldwide. Unlike store cards tied to use at a specific retailer, a visa card connected to Amazon.com is a regular credit card in many ways.

You will earn rewards if you use it to shop on Amazon.com or Whole Foods, but you can also benefit from rewards when used at participating gas stations, pharmacies, and other retailers.

Amazon Prime Rewards Visa Pros And Cons

How Do Credit Cards Work?

The key to good credit history is being selective about your credit cards and how you use them. Available credit, low card balances, on-time payments and card longevity are some of the factors that affect your credit score most. Canceling a card because it isn’t right for you could negatively impact the average age of your credit card accounts and your overall available credit. Make sure that the Amazon Prime Rewards card will suit your needs for years to come before you apply.

Consider the following pros and cons:

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Amazon Prime Rewards Visa Signature Card Review: Should You Get It

Advertiser Disclosure

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

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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.

American Express Gold Card: Best For Purchase And Return Protection

While maximizing cash back or points earned on your purchase is important, there are sometimes other factors youll want to consider when making large purchases. Two credit card benefits that youll especially want to factor in are purchase protection and return protection.

Purchase protection protects eligible items you buy against damage or theft. With this protection, youll be covered against the cost of replacing or repairing the item. With the American Express Gold card, youll get purchase protection for 90 days from the date of purchase, up to $10,000 per claim and $50,000 per card member account per calendar year.

This makes the Amex Gold a fantastic card to use on eligible Amazon purchases, especially the more expensive ones . Purchase protection is a common benefit among credit cards, but many other cards are capped at $500 to $1,000 per claim, which can be limiting for those more expensive items.

Related: The American Express Gold Card practically pays for itself and the Rose Gold version is back.

Another great credit card benefit is return protection, and truth be told, American Express is one of the best card issuers on this front. With return protection, if youre looking to return an eligible item that you bought on your Amex Gold within 90 days from the date of purchase and the merchant wont take it back, American Express will refund the full purchase price .

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Earning And Redeeming Points

As mentioned above, the Amazon Prime Rewards Visa Signature Card lets users earn 5% back at Amazon and Whole Foods Market with an eligible Prime membership*. 2% back at restaurants, gas stations, and drugstores*. 1% back on utilities, rideshare, and all other purchases. 10% back or more on select products. **Limited time offer. See terms..

You’ll earn rewards in the form of points, which can then be applied to future Amazon purchases through the Shop with Points Program. Or, you can redeem your points for cash back, gift cards or travel through Chase.

Each point is worth 1 cent each, so 100 points equal $1 in rewards. So long as you’re a cardholder, your rewards won’t expire, and there’s no limit to how many points you can earn.

Deferred Interest Financing Offers

Whats An Amazon Prime Credit Card? I The Pros & Cons

Amazon purchases of $149 or more made with the Amazon card are eligible for special deferred interest financing. Certain purchases may not qualify for special financing, at Amazons discretion.

These special financing plans allow you to pay over time without being charged interest the larger your purchase, the more time youll have to pay. But take note that these are deferred interest offers, which means if you make a late payment or fail to pay back the entire balance by the due date youll be charged interest on the starting balance for the entire length of the term, going back to the purchase date.

There are three special financing options, depending on how much you spend :

Promotional Balance
$799+ 24 months

The promotional balance will include all of the eligible items in your Amazon shopping cart. When it comes to taxes and shipping charges, however, it gets a bit tricky. The subtotal of your shopping cart, which does not include taxes and shipping, is used to determine whether or not the purchase qualifies for special financing. But your actual promotional balance will include any taxes and shipping charges you paid. So taxes and shipping are not included when determining your eligibility for special financing, but they are included in the actual balance that you end up financing.

Follow these three instructions to stay safe with deferred financing plans:

Insider tip

Heres an example of how deferred interest financing can go wrong.

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Earnings Dont Measure Up For Most Non

If you make Amazon Rewards your only credit card, odds are youll end up earning only the market average of 1% on most purchases. You can see for yourself by comparing your gas, restaurant and Amazon.com spending to the overall amount you charge on your credit card. This ultimately isnt too big of a deal, but the lack of high earning rates on all purchases does mean that youll be sacrificing value not to mention some measure of redemption flexibility relative to offers like Citi Double Cash if you make the Amazon Card your everyday spending vehicle.

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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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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