Amazon Prime Rewards Credit Card review
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The Amazon Rewards Visa Signature is great way to save on Amazon purchases. It’s one of the best credit cards for Amazon (the best, in fact, if you’re looking for a cash back credit card).
The card comes with a $70 Amazon gift card as its welcome bonus — and there’s no bonus on the planet that’s easier to earn. I’ll tell you everything you need to know about this card’s rewards structure and ongoing benefits. In the next five minutes, you’ll know if this card is a fit for your wallet.
The information for the Amazon Rewards Visa Signature card has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.
Amazon Rewards Visa Signature card review
When you open the Amazon Prime Rewards card, you’ll receive a $70 Amazon gift card valid for purchases at Amazon. This card bonus requires no minimum spend — you’ll receive the card as soon as you open the card!
While this is a relatively skimpy welcome bonus compared to the best rewards credit cards, It’s great for anyone who frets about meeting credit card minimum spend.
Benefits and perks
This card’s biggest draw is its ability to earn up to 5% on all purchases from Amazon and Whole Foods. You can also earn 2% back on gas stations, restaurants and drug stores. You’ll earn 1% back on all other purchases.
You’ll only earn 5% back if you have an Amazon Prime subscription, which costs $119 per year. Everyone on the MMS team has Amazon Prime — it comes with benefits like free two-day shipping, select streaming movies, TV shows, music and more. If you’re the kind of shopper who pays for rushed shipping, you need a Prime membership. And this card is a perfect complement.
If you don’t have Amazon Prime, you’ll get 3% back with Amazon and Whole Foods.
You’ll receive up to $500 per claim, $15,000 per cardmember account against covered purchases. You’ll even get an extended warranty that gives you one additional year of of coverage for manufacturer’s warranties lasting three years or less.
No foreign transaction fees
Some cards charge a 3% fee when using the card outside the U.S. That can add up if you spend a lot during your trips. This card is a smart card to bring with you overseas, because it doesn’t incur this foreign transaction fee.
Lost luggage reimbursement: If any checked or carry-on luggage belonging to you or an immediate family member is damaged by the carrier, this card will cover you up to $3,000 per passenger.
Baggage delay insurance: If your bag is delayed by more than six hours, you’ll receive up to $100 reimbursement per day for up to three days to purchase “essential” items including toiletries, clothing.
Travel and emergency assistance: If an emergency arises while you’re away from home, you can call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance — though be aware that you’ll have to pay for any goods or services you need.
Auto rental collision damage waiver: When you use your card to rent a car (and pay the entire bill with your card) and decline the rental company’s collision insurance, you’ll receive rental car insurance against theft and collision damage. In the U.S., coverage is secondary to your personal insurance, which basically means the card will cover the things your personal insurance does not.
Visa Signature® Luxury Hotel Collection
The Amazon Prime Rewards is a Visa Signature card, meaning it allows you to take advantage of the Visa Signature® Luxury Hotel Collection. You can reserve more than 900 luxury hotels around the world and receive the best available rate, automatic room upgrades (when available), complimentary in-room Wi-Fi (when available) and more.
Is the annual fee worth it?
This card has no annual fee per se, but the card only truly excels if you have an Amazon Prime membership, which costs $119 per year. If you don’t think Amazon Prime is worth it, I wouldn’t suggest enrolling just to get the most from this card.
Who is the Amazon Rewards Visa Signature for?
As you would guess, the Amazon Rewards Visa Signature best serves ardent Amazon shoppers with Amazon Prime subscriptions. This is not a travel credit card — but cash back credit cards are worth it, and a critical piece of every miles and points enthusiast’s arsenal. There are some things airline miles and hotel points simply cannot offset. A fantastic way to bolster your cash back balance is to use a generous cash back card on purchases you often make. What better than a card that earns up to 5% on Amazon purchases??
How to use rewards
The welcome bonus is an Amazon gift card, and the cash back you earn can be redeemed for eligible purchases at Amazon, as well. You can also simply cash out your rewards for a statement credit or an electronic deposit into your bank account. You’ve also got the option of redeeming rewards for travel and gift cards.
While it’s possible to redeem the rewards you earn with this card directly to buy items, that’s not a smart move. You won’t earn any rewards when you use your bank of cash back to make purchases. It’s far better to simply use your card to purchase the items you want, and then cash out your points or use them as a statement credit to pay off your card balance. That way you’re earning cash back on every single purchase.
Cards similar to the Amazon Rewards Visa Signature
It’s actually possible to earn 5% back on Amazon with cards other than the Amazon Prime Rewards card — and you don’t even need a $119 Amazon Prime account to do it!
The Discover it® Cash Back offers 5% cash back in rotating categories on up to $1,500 in purchases each quarter once you activate your card. It usually offers Amazon as one of these bonus categories from October to December, and this year is no exception.
The Chase Freedom® also offers 5% cash back (5 Chase Ultimate Rewards points per dollar) on rotating bonus categories each quarter for up to $1,500 in spending after you activate your card. Similar to the Discover it Cash Back, the Chase Freedom frequently provides 5% back at Amazon during Q4. Obviously, this is less convenient than the ability to earn 5% back whenever you want — but if you do the bulk of your Amazon shopping during the holiday season, and if you don’t want to pay for Amazon Prime, these cards are great options.
Additionally, if you spend at lot on Whole Foods, the Blue Cash Preferred® Card from American Express offers 6% cash back at U.S. supermarkets (up to $6,000; then 1%), and Whole Foods is considered a supermarket. This card has a $95 annual fee (see rates and fees), but it’s also got a welcome bonus bigger than the Amazon Rewards Visa. The current offer is earn a $350 statement credit after you spend $3,000 in purchases on your new card within the first six months of card membership.
Also be sure to read our post on the best Amazon credit cards.
The information for the Chase Freedom has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.
The Amazon Prime Rewards card earns up to 5% cash back for Amazon purchases. Everyone makes Amazon purchases, so this is quite a popular card. Just be aware that to get the best version of this card, you’ll need a $119 Amazon Prime account.
Read our post about cash back credit card common mistakes before you apply. And subscribe to our newsletter for more credit card reviews delivered to your inbox!
For rates and fees of the Amex Blue Cash Preferred, click here
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