"Is Getting an Amazon Credit Card Worth the Benefits and Rewards?"
The Amazon Prime Rewards Visa Signature Card offers 5% cashback on Amazon.com and Whole Foods Market purchases, making it a lucrative option for frequent shoppers on these platforms.
The Amazon Rewards Visa Signature Card, available to both Prime and non-Prime customers, offers 3% cashback on Amazon.com, Amazon Fresh, and Whole Foods Market purchases, along with 2% cashback on gas stations, restaurants, and drugstores.
Both Amazon rewards cards have no annual fees or foreign transaction fees, making them a cost-effective choice for domestic and international use.
Amazon Store Card and Amazon Secured Card are two other Amazon credit card options, primarily for those with limited credit history or a lower credit score.
The Amazon Prime Rewards Visa Signature Card provides a $100 Amazon gift card upon approval, while the Amazon Rewards Visa Signature Card offers a $50 Amazon gift card for new cardholders.
Cardholders can redeem their rewards as statement credits, Amazon.com purchases, cashback, or travel.
However, rewards expire if the account remains inactive for 24 months.
Amazon credit cards do not offer an introductory 0% APR promotion for purchases or balance transfers, unlike many other cashback credit cards in the market.
The Amazon Prime Rewards Visa Signature Card requires an eligible Prime membership, which includes benefits like free two-day shipping, Prime Video, and Prime Music.
As of 2024, the Amazon Rewards Visa Signature Card has a variable APR ranging from 14.24% to 22.24%, depending on creditworthiness, while the Amazon Prime Rewards Visa Signature Card has a variable APR between 15.24% and 23.24%.
Although Amazon credit cards can be attractive for their rewards program, the Chase Freedom Unlimited or Chase Sapphire Preferred cards may offer better value, depending on individual spending habits and travel preferences.
Amazon credit cards do not have a set spending limit but assess credit limits based on factors such as credit score, credit history, and income.
Cardholders can manage their Amazon credit card accounts through the Chase mobile app, which includes features like transaction monitoring, alerts, and account management tools.
Amazon credit cards perform a hard pull on credit reports upon application, potentially impacting credit scores temporarily.
Amazon credit cards do not have a cap on the amount of cashback earned per year and rewards do not expire as long as the account remains open and in good standing.
Amazon credit cards do not offer price protection or purchase protection benefits, but they may come with travel insurance benefits like auto rental collision damage waiver or baggage delay insurance.
Although Amazon partners with Chase, Amazon credit cards are not part of the Chase Ultimate Rewards program or transferable to other loyalty programs.
While Amazon credit cards can offer attractive rewards for frequent Amazon and Whole Foods shoppers, alternative cashback or travel rewards cards may provide better value for those who do not primarily shop on Amazon platforms.