Louis DeNicola is a personal financing writer and also has actually written for American Express and also Discover. Editorial Note: Credit report gets compensation from third-party marketers, yet that doesn’t impact our editors’ opinions. Our advertising and marketing partners do not evaluate, authorize or back our editorial content. It’s accurate to the very best of our knowledge when it’s posted.
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Pros Cons
No yearly fee or international purchase fees Only readily available if you have an Amazon Prime subscription, which costs $119 a year
5% back on Amazon.com as well as Whole Foods acquisitions Potentially high APR
Incentives redeemable on Amazon.com, or for cash money, gift cards or take a trip
$ 70 Amazon.com present card when you’re approved for the card

What you need to learn about the Amazon Prime Incentives Visa Trademark Card

No yearly charge … kind of

Technically, the Amazon.com Prime Rewards Visa Trademark Card doesn’t have an annual cost, which is a good thing for cardholders that wish to save cash. However there’s a catch: You should be an Amazon Prime participant to apply for the card, which prices $119 each year (or $12.99 monthly) for a nonstudent membership.

Certainly, that $119 approaches greater than just preserving your card each year. Amazon.com Prime advantages include complimentary two-day delivery, Prime Video clip as well as additional financial savings at Whole Foods Market, together with a lengthy checklist of other benefits.

If you’re already an Amazon.com Prime member, then the cost isn’t a concern. But if you’re thinking about subscribing just so that you can obtain the card, think about the price carefully– you would certainly need to invest more than $2,380 at Amazon.com or Whole Foods every year to counter the $119 yearly fee. A different money back card with a lower yearly charge (or none in all) might make more feeling (and also cents!).

Cardholders who terminate their Amazon.com Prime membership can keep the Amazon Prime Benefits Visa Signature Card, yet they make 3% back, as opposed to 5%, on Amazon.com as well as Whole Foods purchases.

You can make a lot of benefits

The variety of factors you can earn with the Amazon Prime Incentives Visa Signature Card relies on where you store.

  • 5% back on acquisitions at Amazon.com and Whole Foods
  • 2% back on purchases at filling station, dining establishments as well as medicine shops
  • 1% back on all various other purchases

You can then retrieve those rewards toward an eligible acquisition on Amazon.com. Yet it deserves keeping in mind that you have various other alternatives for redemption, like cash back, gift cards and travel. In these situations, $1 of rewards amounts to 100 rewards points, and also vice-versa.

To put it simply, you can get the exact same worth out of this card with money back as you might with qualified Amazon.com purchases. That makes this card a lot more flexible than several store-branded bank card, which typically need that you utilize your benefits just at the shop and its associates.

In a similar way, while other cards use 5% cash back on acquisitions, they might change which shops or classifications you’ll gain with throughout the year as well as restrict how much you can earn.

The Amazon.com Prime Rewards Visa Trademark Card uses limitless making capacity. Plus Amazon.com markets a wide variety of products– there’s a factor it’s in some cases called “The Whatever Shop.” And also though it’s not called out particularly on Amazon.com, you may even be able to obtain 5% when purchasing gift cards for businesses aside from Amazon or Whole Foods via Amazon.com.

You can utilize this card anywhere Visa is accepted

Some store-branded or retail credit cards are only approved at the linked shop, as well as perhaps with other associated brand names.

However you can use the Amazon.com Prime Incentives Visa Signature Card for purchases anywhere that Visa is accepted.

A possibly high APR might cost you

Retail and benefits cards have a tendency to have a higher interest rate than various other sorts of charge card. According to the Federal Reserve’s November 2018 information, the total average charge card APR was 14.73%. Compare that to the Amazon.com Prime Incentives Visa Signature Card– also the most-creditworthy applicants will certainly receive a greater rate, as the card has a variable APR of 16.49% to 24.49% on purchases as well as equilibrium transfers.

A high APR isn’t a worry if you pay your costs in a timely manner and also in full every month. Yet if you carry an equilibrium, after that you might end up paying a great deal in rate of interest. We don’t recommend utilizing bank card for purchases you can’t pay for to settle by your due date, however the APR is still a factor to consider if you have to cover emergency situation expenses that do not easily fit into your budget plan.

Other Amazon.com cards to think about

There are a few more information that may aid you choose if the Amazon Prime Benefits Visa Trademark Card is a good suitable for you.

There are 4 Amazon.com charge card in complete

The Amazon Prime Benefits Visa Trademark Card isn’t the only Amazon card– there are 4 selections in overall.

  • Amazon.com Store Card
  • Amazon.com Prime Store Card
  • Amazon Benefits Visa Signature Card
  • Amazon.com Prime Benefits Visa Trademark Card

You can just utilize both store cards on Amazon.com.

The other Amazon.com Visa card resembles the Amazon Prime Benefits Visa Signature Card because you can utilize it in other places, but it does not need an Amazon.com Prime subscription. It additionally only provides you 3% back at Amazon.com and also Whole Foods.

Likewise, recognize that you’ll be thought about only for the card you look for, so make sure to use straight for the Amazon.com Prime Benefits Visa Signature Card if that’s the card you desire.

Component of an Amazon House with Prime? You might still qualify.

Even if you’re not the major Prime accountholder, you may qualify if you have Prime benefits that someone show you using an Amazon.com Home (which permits you to share Prime advantages in between members of the very same household, consisting of approximately two grownups, four teenagers as well as 4 children). This might reduce the card’s “yearly charge” for you, depending on if (and just how much) you add to that Prime subscription cost.

Don’t unlink your card from your Amazon.com account

If you select to remove the card from your Amazon.com account, you’ll no longer earn 5% back on Amazon.com or Whole Foods Market acquisitions. You can relink the card to get the higher rate back, though.

Comprehending your points as well as redemption alternatives

We have actually discussed gaining factors with the Amazon.com Prime Benefits Visa Signature Card– now let’s take a look at just how you can use your points. The good news is that there are great deals of choices right here, also.

On Amazon.com, you can redeem your indicate pay for component or all of your purchase. (There are a couple of cases when you can not use your factors, such as when acquiring electronic music, Amazon Kindle downloads, AmazonFresh products as well as textbook leasings.)

To use your factors at Amazon.com, choose the Amazon.com Prime Rewards Visa Trademark Card as your repayment method when checking out. You can after that select the buck amount you intend to cover using your points. Utilizing your points by doing this obtains you a redemption value of $1 per 100 factors.

You can additionally retrieve your points for cash back, gift cards or take a trip on the Chase site. The redemption value might vary for various other sorts of redemptions, however 100 factors additionally equals $1 for Amazon.com, traveling, present cards and cash back. Bear in mind though: Redemption for cash money begins at 2,000 factors.

Who is this card great for?

If you do most of your household shopping on Amazon.com and also grocery store shopping at Whole Foods, the Amazon Prime Benefits Visa Signature Card could be a suit.

Also if you just sometimes shop at these stores yet tend to make big purchases when you do (like doing all your vacation shopping on Amazon.com), it can still make good sense to obtain the card, due to the fact that it technically does not have a yearly charge. And also, the 2% back at gas stations, dining establishments and also drugstores might cover a lot of your other everyday acquisitions.

Yet the benefits most likely won’t deserve it if you do not believe you ‘d get much usage out of an Amazon.com Prime membership or you ‘d end up carrying a balance from month to month. See to it you can afford to repay your card promptly and also in full each month, and don’t get lured to make more (or costlier) acquisitions even if you’ll make reward points.

While there isn’t a foreign transaction charge, you likewise will not gain a greater incentives rate on travel-related acquisitions with the Amazon.com Prime Incentives Visa Trademark Card. It may make good sense to maintain a traveling rewards credit card in your pocketbook for when you’re booking traveling or you’re away from house.

Uncertain this is the card for you? Take into consideration these choices.

The Amazon.com Prime Incentives Visa Signature Card isn’t a best fit for everyone. If you’re seeking a brand-new card but have not dropped in love yet, take a look at these various other options.

  • Amazon.com Rewards Visa Trademark Card: This card can be a good alternative for non– Amazon.com Prime members who often go shopping on Amazon as well as at Whole Foods. Check out various other Amazon.com credit cards for a better look.
  • Blue Cash Preferred ® Card from American Express: Individuals who spend a lot on groceries and also like to shop at a range of grocery stores ought to consider this card. Read our evaluation of the Blue Money Preferred ® Card from American Express for more information.
  • Uber Visa Card: If you often eat in restaurants, travel as well as shop online at a range of shops, this card’s rewards structure may straighten with your costs. Check out our testimonial of the Uber Visa Card for even more details.