Amazon Prime Rewards Visa Signature Card Review

The Amazon Prime Rewards Visa Signature Card is a cash-back credit score card completely for Amazon Prime members.

Built for normal Amazon.com and Whole Foods Market customers, it presents as much as 5% money again on purchases made inside the Amazon ecosystem and a pair of% money again on a broad vary of different purchases. Backed by Chase, Amazon Prime Rewards Visa Signature requires a paid-up Prime membership however in any other case has cheap charges.

The best strategy to redeem your Amazon Prime Rewards money again is for fast reductions on purchases from Amazon. Thanks to Chase’s expansive lineup of further cash-back redemption choices, you may as well redeem for money equivalents like assertion credit, journey expense reimbursement, merchandise, and present playing cards.

If you’re unsure Prime membership is best for you, look into the same Amazon Rewards Visa Signature Card, which offers 3% money again on Amazon and Whole Foods purchases. If your Prime membership is canceled or expires because of nonpayment, your Prime Rewards Visa Signature account will routinely downgrade and also you’ll earn 3% money again on Amazon and Whole Foods purchases.

Key Features

These are probably the most notable options of the Amazon Prime Rewards Visa Signature Card.

Sign-Up Bonus

Get a $100 Amazon present card immediately upon approval. If you’re not an Amazon Prime member, you’ll nonetheless qualify for a $50 Amazon present card at approval.

This is a restricted time provide. See phrases for provide particulars.

Earning Cash-Back Rewards

This card earns limitless 5% money again on all Amazon and Whole Foods Market purchases with eligible Prime membership. It earns 2% money again on eligible purchases in three bonus classes: eating places, fuel stations, and drugstores.

All different eligible purchases earn a vast 1% money again. Cash again accrues as factors, with one level equal to $0.01 money again.

To assure you keep 5% cash-back eligibility, Amazon advises retaining your card in your safe Amazon Wallet in your Amazon account. If you take away the card out of your pockets or add it to a different account, chances are you’ll briefly lose 5% eligibility.

If this happens, you’ll nonetheless earn 3% again on Amazon.com purchases, however chances are you’ll must contact Chase or Amazon to get the 5% restored.

Redeeming Cash-Back Rewards

The greatest strategy to redeem your amassed factors is for fast reductions on Amazon purchases, often known as Amazon’s Shop With Points function. You also can redeem for Amazon present playing cards, a preferred present merchandise. There’s no minimal to redeem in both case.

At Chase’s Ultimate Rewards portal, you can also redeem for general-purpose money again (by way of assertion credit score), journey (airfare, inns, automobile leases, and extra), and common merchandise.

Visa Signature Travel Benefits

This card has some helpful journey advantages backed by Visa:

• Travel Accident Insurance. This bare-bones type of journey insurance coverage covers catastrophic occasions as much as $500,000 per cardholder.
• Lost Luggage Reimbursement. Costs related to cardholders’ and relations’ lost baggage are coated as much as $3,000.
• Baggage Delay Insurance. If your baggage is delayed greater than six hours, any important purchases made because of this are reimbursed as much as $100 per day.
• 24/7 Travel and Emergency Assistance. Get referrals for medical, authorized, and different emergency providers for those who run into bother. Additional charges might apply.
• Complimentary Car Rental Insurance. Thanks to Visa’s auto rental collision harm waiver, prices related to rental automobile collision and harm (topic to coverage limits) are coated while you pay for the rental in full together with your card.
• 24/7 Roadside Dispatch. Additional charges might apply.
• Perks Within the Visa Signature Luxury Hotel Collection. These embrace the perfect rate, computerized room upgrades, and free in-room WiFi (all topic to availability).
• 24/7 Concierge Service. Get assist making hard-to-get reservations and planning itineraries in unfamiliar cities.

Visa Signature Consumer Benefits

This card has some doubtlessly worthwhile advantages for on a regular basis customers too. You’ll get prolonged warranties of as much as one year past the producers’ guarantee window.

You’ll additionally take pleasure in buy safety (theft and harm protection) on new purchases for as much as 120 days, capped at $500 per declare and $50,000 per account.

Important Fees

This card has no annual payment, however it does require a paid Amazon Prime membership. Prime prices $12.99 monthly or $119 per year, per particular person or family account. This card has no overseas transaction payment.

Credit Required

This card requires a good to wonderful credit score rating. If you could have any notable blemishes in your credit score historical past or a credit score rating under the place you’d prefer it to be, your application could also be denied.

Advantages

These benefits argue strongly in favor of making use of for the Amazon Prime Rewards Visa Signature Card.

1. Up to five% Cash Back on Amazon and Whole Foods Purchases

The Amazon Prime Rewards Visa Signature Card’s distinguishing profit is 5% money again on purchases at Amazon and Whole Foods. There’s no restrict to cardholders’ 5% earnings and nearly no restrictions on what they will purchase.

Needless to say, it is a unbelievable rate. Most different cash-back playing cards, even these charging annual charges, cap money again under 5% or impose strict spending caps on classes that earn 5% or increased money again.

2. Broad 2% Cash Back Categories

This card’s 2% cash-back classes span drugstores, eating places, and fuel stations. Most shoppers spend often in at the least one in all these classes. When they do, they’ll earn money again at a really aggressive rate.

3. Seamless Redemption Process

Thanks to Amazon’s Shop With Points function, it’s extremely straightforward to redeem your accrued Amazon Rewards factors. Simply apply them in opposition to your Amazon transaction balances and get on together with your life.

You also can redeem at Chase’s Ultimate Rewards dashboard, which is fairly straightforward to make use of too.

4. No Foreign Transaction Fee

The Amazon Prime Rewards Visa Signature Card has no annual payment. That’s welcome information for cardholders who steadily enterprise exterior the U.S., whether or not on highway journeys to Canada or worldwide holidays to Europe and past.

5. No Direct Annual Fee

This card doesn’t cost an annual payment. If you’re already taking full benefit of your Amazon Prime membership, and also you’d preserve your Prime membership whether or not you had this card or not, there’s actually no further out-of-pocket price right here.

6. Solid Visa Signature Benefits

Though it’s not a correct journey rewards credit score card, the Amazon Prime Rewards Visa Signature Card has a pleasant lineup of Visa Signature advantages for customers and vacationers. The Visa Signature Luxury Hotel Collection perks are significantly good, as are the varied journey insurance coverage inclusions.

7. No Penalty APR

This card has no penalty APR. If you sometimes miss assertion due dates because of unexpected bills or money crunches, this might prevent tons of of {dollars} in penalty curiosity every year.

Disadvantages

Consider these drawbacks earlier than making use of for the Amazon Prime Rewards Visa Signature Card.

1. Requires Paid-Up Amazon Prime Membership

The Amazon Prime Rewards Visa Signature Card requires a paid Amazon Prime membership to earn 5% money again on Amazon and Whole Foods purchases.

Prime membership prices $12.99 monthly or $119 per year, roughly equal to the price of a premium cash-back credit score card like Blue Cash Preferred from American Express.

Prime has engaging advantages, equivalent to free two-day transport, however it’s not for everybody. If you’re not a Prime member already, otherwise you really feel you’re not getting your money’s value from this system, assume twice about making use of for this card.

2. No 0% APR Introductory Promotion

This card doesn’t have a 0% APR introductory promotion for purchases and steadiness transfers.

If you’re in search of a brand new dwelling in your high-interest credit score card balances or must finance a serious buy, look to no-annual-fee money again playing cards like Chase Freedom and Chase Freedom Unlimited, each of which supply 15-month 0% APR on purchases and steadiness transfers.

3. Automatic Downgrade If Prime Membership Lapses

If you cancel your Prime membership or permit it to lapse because of nonpayment, you’ll lose this card’s 5% cash-back profit. You can keep away from this within the brief time period by selecting an annual Prime membership, however it’s one thing for tentative Prime members to remember.

4. Low Baseline Rewards Rate

This card’s baseline rewards rate is low – simply 1% again on purchases not coated by the 5% and a pair of% classes.

That’s a far cry from some competing cash-back playing cards’ baseline charges. The Citi Double Cash Card earns limitless 2% money again on all eligible spending, as an example.

Final Word

The Amazon Prime Rewards Visa Signature Card has one job: to reward loyal Amazon Prime members for his or her continued patronage.

Its three-tiered rewards program earns as much as 5% money again on Amazon and Whole Foods Market purchases, rewarding cardholders preferring to buy at dwelling besides when it’s time to restock the cabinet.

The promise of two% again on purchases at eating places, drugstores, and fuel stations is nothing to sneeze at, both. For a card that technically doesn’t cost an annual payment, it is a fairly robust cash-back regime.

The backside line? For heavy Amazon customers, this card could also be properly well worth the Prime membership payment, even for those who don’t use it exterior the Amazon/Whole Foods ecosystem.

However, for those who don’t spend sufficient at Amazon or Whole Foods to justify a Prime membership, chances are you’ll wish to give this card a go – or at the least persist with the really no-annual-fee Amazon Rewards Visa Signature Card. Attractive as this card is, it offers the perfect offers particularly to Amazon Prime members.