Amazon Prime Credit Card Review
Key Takeaways
At first glance, the spending multipliers on the Amazon Prime Rewards Visa card look enticing — especially if you shop frequently at Amazon. You could certainly rack up a substantial number of points through regular purchases at Amazon. Add a $100 gift card for signing up and no annual fee, and the card appears even more appealing. However, if you explore other options, you’ll find there are more lucrative ways to maximize your Amazon spending.
Why This Card Could Be Right For You
If you have an eligible Prime membership, you can sign up for the Amazon Prime Rewards Visa Card and receive a $100 Amazon Gift Card as a sign-up bonus. There is no annual fee for this card, and it offers several points multipliers you can use in various ways:
- 3% back on Amazon, Amazon Fresh, Whole Foods, and Chase Travel purchases (or 5% back on all of these if you have an eligible Prime membership).
- 2% back at gas stations, restaurants, local transit, and commuting.
- 1% back on everything else.
- Rotating 10% back on select items at both Amazon and Whole Foods.
Redeeming your rewards is straightforward. You can:
- Apply them directly at checkout on Amazon (1:1 value).
- Use your points for gift cards or cash back.
- Redeem them for travel through Chase (although note these are not Chase Ultimate Rewards points, so they cannot be combined with other Chase points you hold).
- Enjoy a consistent value of 1¢ per point.
When The Usual Advice Doesn't Apply
This card may not be ideal for you if:
- You hoped it would provide excellent travel-redemption options because it carries the Chase name. In reality, these points do not transfer into Chase’s more flexible redemption system.
- You want to focus on true travel rewards. Although you can redeem points for travel through Chase at a 1:1 rate, other cards offer more value for travel enthusiasts
How The Amazon Prime Credit Card Fits In The Other Point System Ecosystem
There is another Amazon card available, the Amazon Business Card from American Express. It also comes with a $100 Amazon Gift Card as a sign-up bonus and has no annual fee, though its spending multipliers differ. If you’re really looking to maximize spending on Amazon, consider the Chase Ink Business Cash Card, which offers 5× points at Staples. You could then buy Amazon gift cards at Staples for 5× points. Given Chase points can be worth up to 1.8¢ each, you could effectively earn around 9% back instead of 5%. The Chase Ink Cash card also currently offers a 75,000-point sign-up bonus, which far exceeds a $100 Amazon Gift Card.
Card Information
| Bonus Points | Minimum Spend | Point Value | Annual Value | Annual Fee |
1st Year Value
|
|---|---|---|---|---|---|
| 10,000 | $0 | 0.7 ¢ | $150 | $0 |
$220
|
| Best Value | Differentiating Perks | Rules |
|---|---|---|
| Amazon Purchases | 5% back on Amazon & at Whole Foods | 5/24 , Chase 2/30 , Chase 4/6 |
Spend Categories
1X points
0.7¢ Per Dollar Spent
5X points
3.5¢ Per Dollar Spent
2X points
1.4¢ Per Dollar Spent
5X points
3.5¢ Per Dollar Spent
2X points
1.4¢ Per Dollar Spent
5X points
3.5¢ Per Dollar Spent
2X points
1.4¢ Per Dollar Spent
Card Benefits
Using this card gives you secondary coverage for collision on your rental car, up to the value of the car.
Travel accident insurance up to $500,000; trip cancellation insurance up to $1,500 per trip; lost luggage insurance up to $3,000 per trip; baggage delay insurance up to $100 per day for 3 days
You will pay no foreign transaction fees when you use your card for purchases made outside of the United States
Call 1-800-847-2869; a flat $69.95 charge for towing up to 5 miles, tire changing, jump starting, locksmith service, fuel delivery and standard winching; cardholder will be charged for any additional services or goods provided
Your purchases are covered for 120 days against damage or theft up to $500 per claim and $50,000 per account
This card extends the time period for the U.S. manufacturer’s warranty by an additional year, on eligible warranties of three years or less
Amazon Prime Application Rules
Your application will be declined if 5 new cards are reported on your personal credit report in the past 24 months
You'll be declined if you apply for a third Chase card of any kind within 30 days
Chase will decline your application you apply for a 5th Chase card (personal or BUSINESS) in 6 months
