Full Overview of Amazon Prime Visa Signature Credit score Card
desk of contents
- Execs Defined
- Cons Defined
- Who This Card Is Greatest For
- Bonus
- Rewards Incomes Particulars
- Rewards Redemption Particulars
- Transferring Factors
- The best way to Maximize Your Rewards
- Excellent Advantages
- Customary Advantages
- Cardholder Expertise
- Safety Options
- Charges to Watch Out For
- Our Verdict
Execs
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No annual charge
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5% money again on Amazon.com purchases
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Simple redemption whereas purchasing
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No international transaction charge
Cons
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Requires a paid Amazon Prime membership to make use of its full advantages
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No 0% APR introductory provide
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Low one-time provide
Execs Defined
- No Annual Price: The truth that this card has no annual charge is some extent in its favor. Competitor playing cards then again could require a membership to take away the annual charge.
- 5% Money Again on Amazon.com Purchases: One of many largest perks of this card is the constantly excessive rewards fee on purchases made at Amazon.com and Entire Meals Market. Whenever you use your Amazon Prime Visa Signature bank card with these retailers, you get 5% again each time. There aren’t any rotating bonus classes to complicate your life. Plus, you’ll get 2% again on purchases at gasoline stations, drugstores, and eating places.
- Simple Redemption Whereas Buying: Whenever you use this card, you may simply redeem your rewards whereas purchasing on Amazon.com. In truth, your rewards stability can be seen to you, and you’ll select to make use of your money again to pay for all or a part of your buy while you take a look at.
- No Overseas Transaction Price: With this card, you don't have to fret about international transaction charges while you journey overseas. And, as a result of it’s a Visa card, it’s broadly accepted all over the world.
Cons Defined
- Requires a Paid Amazon Prime Membership for full advantages: When you don't must pay an annual charge for the Amazon Prime Visa Signature bank card, you do have to keep up a Prime membership for the complete 5% and 10% advantages. Presently, a Prime membership is $139 per 12 months. At that fee, if you happen to spend at the very least $2,380 at Amazon.com and Entire Meals Market annually, you'll have earned again the price of your Prime membership.
- No 0% APR Introductory Provide: This card doesn’t have a 0% APR introductory provide. So if you happen to're purchasing round for a stability switch card, you would possibly need to look elsewhere. For instance, the American Categorical Blue Money On a regular basis card has no annual charge and presents a 0% APR on purchases for 15 months.
- Low One-Time Provide: Prime members can get a $100 Amazon Reward Card immediately upon approval. That's a reasonably low one-time provide, even for a money again card with no annual charge. For instance, the SavorOne Rewards card from Capital One has a $200 bonus after spending $500 within the first 3 months of account opening, with no annual charge.
Who This Card Is Greatest For
The Amazon Prime Visa Signature bank card, with its 5% money again on purchases at Amazon.com and Entire Meals Market, is greatest for individuals who do quite a lot of their purchasing at these retailers.
The additional money again on restaurant, gasoline station, and drugstore purchases additionally makes this card engaging if these account for a big a part of your spending.
Amazon Prime Visa Signature Credit score Card Bonus
Prime members can get a $100 Amazon Reward Card immediately upon approval.
Rewards Incomes Particulars
This card presents 5% money again on purchases made at Amazon.com and Entire Meals Market. Moreover, you may earn 2% money again at eating places, gasoline stations, and drugstores. All different purchases obtain 1% money again.
Rewards Redemption Particulars
You’ll be able to redeem your rewards through the use of Store with Factors at Amazon.com. When selecting your fee technique at checkout, you choose your Amazon Prime Visa Signature bank card, and also you’ll mechanically see what number of factors you will have accessible—and the way that interprets into money. You’ll be able to then select to make use of your whole accessible rewards, or a portion of them, to pay on your buy.
Each 100 factors is value $1 on Amazon.com, making every level value one cent.
It's additionally doable to redeem your factors by Chase, for reward playing cards, money again, and journey, once more at a price of 1 cent per level.
Transferring Factors
You’ll be able to’t immediately switch your Amazon rewards factors to airways or different companions. Nonetheless, you should use factors to buy journey by the Chase web site.
The best way to Maximize Your Rewards
The best technique to maximize your rewards with this card is to do as a lot of your spending as doable at Amazon.com and Entire Meals Market to get the 5% money again. There aren’t any earnings limits.
Common Case
Amazon Prime members spend, on common, $1,371 a 12 months at Entire Meals, in accordance with a 2017 evaluation by 1010Data. Moreover, the Bureau of Labor Statistics stories that in 2020 the typical family spent $1,568 on gasoline, different fuels and motor oil. It additionally stories that the typical family spent $2,375 on meals away from residence.
At these common charges, the 5% money again on spending at Entire Meals Market would come to $68.55, and the two% money again from gasoline and eating out would add one other $78.86. That’s a complete of $147.41 in money again from simply these three classes.
Even after offsetting the price of the $139 Prime membership, this common family would come out about $28.41 forward. And that also doesn’t account for no matter purchases they make at Amazon.com.
Aspirational Case
The extra of your spending you do at Amazon.com and Entire Meals Market, the better your money again rewards can be. For instance:
- The common family spends $4,942 a 12 months on groceries. Shifting all of that to Entire Meals Market would imply $247.10 in money again.
- The common family additionally spends $1,434 on attire and providers. Shifting that spending to Amazon.com would lead to as a lot as $71.70 in money again.
- Lastly, the typical family spends $646 a 12 months on private care merchandise, which, if purchased fully on Amazon.com, would usher in one other $32.30 in money again.
The 5% money again on all of these on a regular basis purchases mixed would whole $351.10. A household might additionally make a few of their main purchases, such computer systems, TVs, and furnishings on Amazon.com and earn 5% money again. These sorts of purchases might simply increase their annual spending by one other $2,000, leading to an extra $150 money again. After accounting for the price of a Prime membership, the family could be $332.10 forward—and that's not together with their different purchases that earned 2% or 1% rewards.
Amazon Prime Visa Signature Credit score Card's Excellent Advantages
- Constant 5% money again at Amazon.com and Entire Meals Market
- Earn 10% again or extra on a rotating collection of Amazon merchandise and classes
- Further money again as much as 25% on sure Amazon.com objects by unique Prime cardmember presents—on prime of the same old 5% again
- Capacity to simply store along with your factors
- Buy safety*
- Particular charges on greater than 900 luxurious lodges by the Visa Signature Luxurious Lodge Assortment
*Eligibility and Profit stage varies by Card. Phrases, Circumstances and Limitations Apply. Please go to americanexpress.com/benefitsguide for extra particulars. Underwritten by AMEX Assurance Firm.
Customary Advantages
- Zero fraud legal responsibility
- Auto rental collision injury waiver
- No international transaction charge
- Journey help
Cardholder Expertise
Scores on Amazon.com present this card receiving 4.3 out of 5 stars. 70% of the critiques gave it 5 stars, whereas 9% gave it 1 star.
Chase, which points the Amazon Prime Visa Signature bank card, acquired a rating of 807 out of 1,000 in J.D. Energy’s 2021 U.S. Credit score Card Satisfaction Research, two factors beneath the nationwide issuer common of 809.
On the whole, this card presents a reasonably customary cardholder expertise. Lots of its perks additionally include different Visa Signature playing cards. The expertise is more likely to be greatest for cardholders who redeem their rewards by Amazon's Store with Factors.
Cardholders can handle their account on-line by Chase and might contact Chase by calling the quantity on the again of their card.
Safety Options
As with many different bank cards, you may count on zero fraud legal responsibility with this card and also you received’t be held accountable for unauthorized purchases. In case you report a misplaced or stolen card you may obtain an emergency alternative.
Charges to Watch Out For
Whereas there's no annual charge, the truth that you want to be a Prime member—and pay $139 per 12 months—is one thing to concentrate on. In fact, a Prime membership additionally has different advantages which may be of worth to you.
This card's different charges are consistent with many competing bank cards.
Our Verdict
In case you store ceaselessly at Amazon.com and do a good quantity of grocery purchasing at Entire Meals Market, this card, with its 5% money again and no maximums, is usually a beneficial addition to your pockets. Moreover, the two% money again on purchases at gasoline stations, drugstores, and eating places additionally presents the potential for important rewards. Plus, earn 10% again or extra on a rotating collection of Amazon merchandise and classes.
Nonetheless, if you happen to don't count on to do a lot purchasing at Amazon.com or Entire Meals Market, the American Categorical Blue Money Most popular card, with its 6% money again at U.S supermarkets (as much as $6,000 per 12 months) and streaming providers, 3% at U.S. gasoline stations and transit providers, and 1% on all different purchases may very well be a sensible choice. There’s a $95 annual charge, however it's nonetheless lower than a Prime membership.
In case you're extra concerned with constant journey rewards, Capital One presents the Enterprise card, which supplies 2X factors for each greenback spent in every single place. As with the American Categorical Blue Money Most popular card, there’s a $95 annual charge.
Ultimately, the Amazon Prime Visa Signature bank card is an efficient selection for individuals who do quite a lot of their purchasing at Amazon.com and Entire Meals Market, particularly in the event that they’re already paying for a Prime membership anyway.
