Fast-Track Your Credit Card Sign-Up Bonus With Amazon Payments

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Update:  This program is ending October 12, 2014.

I love because I am lazy busy and like doing my shopping online!

But did you know that using Amazon Payments is one of the quickest and easiest ways to meet the minimum spend requirement to get that large sign-up bonus on your new credit cards?

Here’s How It Works!

  • You sign-up with Amazon Payments (you can use your existing log-in) and add your credit card information and bank account details to validate your Amazon Payments account
  • You then transfer money, say $300, to your partner or trusted friend using the “goods and services” option to reduce the chance of a cash advance fee
  • Your partner or trusted friend then transfers $300 back to you using Amazon payments or writes you a check for $300.
  • You should ensure that you have a legitimate reason to transfer money to your friend to ensure that your account is not flagged by Amazon and frozen.

It’s that easy!

As of July 6, 2011, you can transfer and receive up to $1,000 per month without a fee.

Please read the Amazon Payments User Agreement before you use Amazon Payments to ensure that you are aware of all the terms and conditions and do not risk having your account shut down!

However, you cannot transfer money to yourself, so please don’t set up 2 accounts in your name and transfer money between them. If you do that you risk freezing your account and the money in it!

Step 1 – Sign-In To Amazon Payments

Sign-in to Amazon Payments using either your existing username and password, or by creating an username and password if you’ve never used before.

Amazon Payments 1

Step 2 – Enter Your Information

You have to enter your:

  • Name
  • Address
  • Either your date of birth or social security number
  • Select a security question & answer

Step 3 – Activate

You then activate the “Send Money Online” option by clicking on the “activate” button.

Amazon Payments 2

Step 4 – Verify

On the next page you have to:

  • Verify your email address
  • Add the credit card which you want to use
  • Add and verify your bank account information so that you can withdraw money sent to you via Amazon Payments.  Depending on your bank you could either instantly verify your bank account or confirm the amount of the 2 small deposits which Amazon Payments sends to your bank account

Amazon Payments 3

Step 5 – Send Money

Click on “Send Money” in the top tab and enter the recipient’s email address and the amount which you want to send.

As of  July 6, 2011, you can send and receive up to $1,000 per month without a fee, so you may want to transfer less than $1,000 a month since paying fees are no fun!

I recommend checking whether the recipient (your partner or trusted friend) has an Amazon Payments account, before sending any money.  If the recipient does not have an Amazon Payments account, you may want to set one up before transferring money.


You will see two options below the amount field:

  1. Goods/Services
  2. Cash Advance

Selecting the “Cash Advance” field may result in an expensive  cash advance fee from your credit card!

The “What’s This” link near “Cash Advance” says:

You may be charged a cash advance or other fees by your credit or debit card issuer. Amazon Payments is not responsible for these fees. Contact your issuer for more information.

Selecting the “Goods/Service” option will likely not result in a Cash Advance fee from your bank.

Amazon Payments 4

However, I cannot guarantee that you won’t be charged a fee, so I recommend starting with a small amount of money (say, $10) to see that there are no cash advance fees being charged and then proceeding to a larger amount.

So far, Emily and I have not been charged a fee, but your credit card may charge you a fee!

Step 6 – Select Your Payment Method

Select the credit card which you want to use (this should be the credit card for which you’re trying to complete the minimum spend requirements)!

Once again, make sure that you’ve selected the “Goods/Services” option to avoid being hit with a cash advance fee.

Amazon Payments 5

Step 7 – Confirm Your Payment

Click on “Confirm” to confirm your payment!


Amazon Payments 6

Step 8 – Payment Confirmation

You will get a confirmation that your payment was successful!

Step 8 – Repeat & Rinse

Have you partner or trusted friend transfer you the money back via Amazon Payments or by writing you a check.

Bottom Line:

Using Amazon Payments is a quick and easy way to complete the minimum spend requirements on your new credit card!

You don’t have to buy gift cards or haul $1 coins to the bank to meet the minimum spend requirements any more!

I do not recommend using Amazon Payments regularly to earn miles or points on your credit cards, outside of completing the minimum spend requirements, since that may be too costly for Amazon who may then charge a fee for Amazon payments.

Currently, there is no fee to send and receive upto $1,000 per month. Let’s keep it that way by using Amazon Payments only when you need it!

However, Amazon payments might start charging a fee anytime, so please check for yourself before using Amazon Payments!

You should also know that the IRS will soon require credit card payment services like Amazon Payments to report the amount charged if you exceed 200 transactions and $20,000 per year so don’t go gangbusters with Amazon Payments!

Have you used Amazon payments before?  Tell us about it in the comments!

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