Regular Amazon customers may benefit from using the Amazon Prime Rewards Visa Signature Card since it generates savings on their purchases. The card provides Amazon shopping savings as well as dining and travel reward benefits with other types of rewards. This credit card delivers essential advantages to Prime members who want to shop online since it includes no annual charge. But is it really worth it? This evaluation details all critical information needed to understand.
Features of Amazon Prime Rewards Visa Signature Card
Cashback on Amazon Purchases
Among the prime advantages of the Amazon Prime Rewards Visa Signature Card exists cashback opportunities specifically for Amazon purchases. Users of this credit card receive a 5% cashback reward when they buy anything from Amazon that meets their purchase requirements including digital products and gift cards. Users of this credit card receive a better online shopping cashback rate than the average Visa Signature Card.
Rewards on Dining and Travel
In addition to cashback on Amazon purchases, cardholders can also earn rewards on dining and travel expenses. They will receive 2% back at restaurants, gas stations, and drugstores, as well as 1% back on all other purchases. This makes it a great card for those who frequently dine out or travel.
No Annual Fee
Another great feature of the Amazon Prime Rewards Visa Signature Card is that it has no annual fee. This means that cardholders can enjoy all the benefits of the card without having to worry about paying an additional fee each year.
Travel Benefits
The Amazon Prime Rewards Visa Signature Card also comes with travel benefits such as no foreign transaction fees and emergency card replacement. Cardholders can also take advantage of Visa Signature Concierge services for assistance with travel planning, booking reservations, and more.
Fraud Protection
With the Amazon Prime Rewards Visa Signature Card, cardholders are protected against fraudulent charges with zero liability. This means that if there are any unauthorized charges on their account, they will not be held responsible for them.
Easy Redemption Options
Redeeming earned rewards is simple and hassle-free with the Amazon Prime Rewards Visa Signature Card. There is no minimum redemption amount and rewards never expire as long as the account remains open. Cardholders can easily use their rewards for purchases on Amazon.com, or choose from a variety of other redemption options such as statement credits, gift cards, and travel.
Drawbacks to Consider
As with any credit card, there are some drawbacks to keep in mind when considering the Amazon Prime Rewards Visa Signature Card. These include:
- Annual Fee: The card has a $0 annual fee for Amazon Prime members, but non-Prime members will be charged an annual fee of $119.
- High APR: The card's variable APR can range from 15.74% - 23.74%, depending on creditworthiness.
- Foreign Transaction Fees: There is a foreign transaction fee of 3% for purchases made outside of the United States.
- Limited Acceptance: While the card can be used anywhere that accepts Visa, it may not be as widely accepted as other major credit cards such as Mastercard or American Express.
How to Apply for the Amazon Prime Rewards Visa Signature Card
To apply for the Amazon Prime Rewards Visa Signature Card, you must be an eligible Amazon Prime member. If you are not currently a member, you can sign up for Amazon Prime before or during the application process.
- Go to the Amazon website and log in to your account.
- Navigate to the credit cards section under "Your Account" and select "Apply now" next to the Amazon Prime Rewards Visa Signature Card.
- Fill out the required information, including personal details, income, and employment information.
- Review and agree to the terms and conditions of the card.
- Submit your application.
If approved, you will receive your Amazon Prime Rewards Visa Signature Card in the mail within a few weeks. Once you have your card, you can start using it to earn rewards on all your purchases.
Who This Card is Best For
The Amazon Prime Rewards Visa Signature Card is best for frequent Amazon shoppers who are also Amazon Prime members. With its high rewards rate on purchases made at Amazon, it's a great card for those who regularly make purchases on the site.
Additionally, this card is beneficial for those looking to earn cash back on everyday purchases such as groceries, gas, and dining. Its competitive rewards rates in these categories make it a strong choice for everyday spending.
Comparison with Other Credit Cards
While the Amazon Prime Rewards Visa Signature Card offers attractive rewards for frequent Amazon shoppers, it's always important to compare it with other credit cards on the market.
Citi Double Cash Card
The Citi Double Cash Card is another popular cash back credit card that offers competitive rewards rates. It offers 2% cash back on all purchases - 1% when you make a purchase and an additional 1% when you pay your bill, effectively giving you a total of 2% back on every dollar spent. However, unlike the Amazon Prime Rewards Visa Signature Card, it does not offer any special benefits or bonuses for shopping at specific retailers.
Blue Cash Preferred Card from American Express
For those who spend a significant amount on groceries and gas, the Blue Cash Preferred Card from American Express may be a better option. It offers a whopping 6% cash back on grocery purchases, up to a maximum of $6,000 per year. Additionally, you can earn 3% cash back at gas stations and certain department stores. The annual fee for this card is $95, which may seem steep at first glance but can easily be offset by the cash back rewards earned.
Conclusion
When choosing a credit card, it is crucial to consider your spending habits and financial goals. The Blue Cash Preferred Card from American Express stands out for its exceptional cash back rewards on everyday purchases like groceries and gas, making it an excellent choice for families or frequent commuters. While the annual fee may deter some, the potential savings and perks can outweigh the cost for many users. Overall, this card offers a strong combination of value and benefits, making it a solid contender for those looking to maximize their cash back rewards.
