Today we review the Amazon Prime Rewards Visa Signature Card. For those who frequently buy from Amazon, it’s hands down the best rewards card available. As you’ll see, you can earn up to 5% cash back with no annual fee.
Every month I spend a few minutes reviewing the monthly credit card purchases my wife and I make. Seventy-five percent of that time is invested in looking at our Amazon transactions. It seems like we have a couple Amazon boxes delivered to us by our postal carrier every day. By the end of the month, we’ve accumulated a few pages’ worth of Amazon statements.
Luckily for us, Chase has launched a new credit card specifically designed for people like me–those addicted to online Amazon shopping.
Amazon Prime Rewards Visa Signature Card Rewards Review
Earlier this year, Chase opened up applications on its new Amazon Prime Rewards Visa Signature Card. All Amazon prime members will receive the following benefits when using their Amazon Prime Rewards Visa Signature Card:
- 5% cash back at Amazon on all purchases.
- 2% cash back at gas stations, drugstores and at restaurants
- 1% cash back on all other purchases
- $70 Amazon gift card immediately after approval
- No annual fee / No foreign transaction fees
First, let me be blunt about the value of the Amazon Prime Rewards Visa Signature Card. It comes from shopping at Amazon.com, nothing more. There are better cash back percentages out there for your everyday spending, including the 2% offered at gas stations, drugstores, and restaurants (the Blue Cash Preferred Card® from American Express is a good start).
And while the $70 up front Amazon gift card is nice, a few other cards on the market today offer much better up-front bonuses. For example, the Barclaycard CashForward™ World Mastercard® opens with a $200 bonus for new cardmembers.
The standard purchase and balance transfer APR is 15.24% – 23.24% variable, and the cash advance APR is 25.74% variable. There are over-limit and late payment fees of up to $37, and there are no balance transfer promos associated with the Amazon…
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