The Amazon Prime Visa Credit Card is perfect for people who spend their money on Amazon because honestly, if you don't spend that much on Amazon, then the perks of this credit card aren't really that worth it, and you should just look into a different card instead.
Amazon Prime Visa Credit Card Benefits
When the Amazon Prime Visa Credit Card was released a few years they gave you 3% back on Amazon purchases. Nowadays this Amazon card is even better if you're a Prime member because they'll give you 5% back on all Amazon purchases, including Whole Foods Markets!
There are other ways to get five percent off on Amazon, but it typically involves buying Amazon gift cards or credit and not really using your credit card on Amazon, and the main problem here is are you end up losing out on the credit benefits; things like purchase protection and return protection and extended warranty.
This credit card will also give you two percent back at restaurants, gas stations, and drugstores, and then they'll give you one percent cash back on everything else. But you must be aware that even though it is considered a cash back card, it is only going to be giving you Amazon credits.
You need to consider that they do charge an interest rate of about 16% to 24%, which is relatively competitive. But we would HIGHLY advise paying off your statement balance in full every single month so that you do not have to pay any interest, because what's the point in getting 5% cash back from the credit card if you're going to be paying at least 16% and interest on it?
Using your cash back points
The points you get from the card are straightforward to use; all you have to do is use your Amazon credit card to buy any items, and the points will show up online. If you check your Amazon account it will show you precisely what tier of points you qualified for on that specific purchase. So if you spent some money at McDonald's during the month, you can check online and see that you earned 2% cash back because it's a restaurant. A lot of credit cards don't give you that information, so it's pretty cool that the Amazon card does that.
When buying an item on the Amazon website you can select how many points you want to use, so you can either use all the points or just some of them; it's all up to you.
Other perks and benefits
Another perk worth mentioning is that this Amazon Visa doesn't have an annual fee. Most credit cards that have a 5 percent cashback tier are going to cost at least 75 dollars a year just to have the card open.
Amazon Visa also comes with purchase protection and extended warranties, and they don't charge foreign transaction fees. So for instance, if you buy a hamburger in France with your credit card, then the conversion is just going to happen automatically, and it'll be free as well.
Once you get approved for the Amazon Visa card, you can start buying on Amazon right then and there before the card even comes in the mail. If you want to hurry and start collecting that 5%, then all you have to do is get approved, and you can just start buying.
The sign-up bonus is a $70 Amazon gift card. It's okay, but it's not great. There are other cards where you can get maybe $350 or $700 or even thousands of dollars of benefits compared to this card, but remember, this card does have no annual fees so you have to weigh what cards make more sense for you.
Other benefits of this card are very common Visa signature ones, like road assistance, travel insurance, and emergency care. If you have any other Visa signature card you probably already have these benefits, but if you don't, then they're very helpful.
Amazon Prime Credit Card fees fees
Annual membership fee
foreign transaction fee
16.49% to 24.49% based on your creditworthiness.
Main benefits and perks
Receive an Amazon.com Gift Card upon credit card approval
Shop with Points at Amazon.com
Travel and Emergency Assistance
Auto rental collision damage waiver
Visa Signature® Concierge Service