Amazon Credit Card: Your Complete Reference
The Amazon Credit Card offers an array of benefits for frequent Amazon shoppers and those who want to maximize their savings while shopping online. With both personal and business options available, this credit card can be an excellent addition to your wallet. Whether you’re considering applying for it or already have one, understanding the card’s perks, fees, and functionality is essential to make the most out of it. This article will provide a comprehensive guide to the Amazon Credit Card, including the various types available, benefits, rewards, and everything you need to know before applying.
Overview of the Amazon Credit Card
The Amazon Credit Card comes in two main variations: the Amazon Rewards Visa Signature Card and the Amazon Prime Rewards Visa Signature Card. Both are issued by Chase Bank and offer rewards for purchases made on Amazon, as well as other everyday purchases. While they share some common features, there are key differences between them that may impact your decision on which one is best for you.
Amazon Rewards Visa Signature Card: This version is available to all Amazon shoppers and does not require a Prime membership. It offers excellent rewards for purchases made on Amazon and at other merchants.
Amazon Prime Rewards Visa Signature Card: This version is available exclusively to Amazon Prime members. It offers enhanced rewards compared to the standard Rewards Visa Signature Card, making it a great option for those who already subscribe to Amazon Prime.
Amazon Credit Card Rewards and Benefits
Both versions of the Amazon Credit Card come with competitive rewards programs that cater to different spending habits. Here’s a breakdown of the rewards offered by each card:
Amazon Prime Rewards Visa Signature Card
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5% Back on Amazon.com and Whole Foods Market Purchases: If you’re a Prime member, you can earn 5% back on all purchases made on Amazon and Whole Foods Market, which is a significant boost compared to other credit cards.
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2% Back at Restaurants, Gas Stations, and Drugstores: The Amazon Prime Rewards Visa also offers 2% back at eligible restaurants, gas stations, and drugstores, providing extra value on common everyday purchases.
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1% Back on All Other Purchases: For every other purchase made outside the categories listed above, you will still earn 1% back.
Amazon Rewards Visa Signature Card
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3% Back on Amazon.com Purchases: This card offers 3% back on all purchases made on Amazon, which is a great deal if you shop regularly on the platform.
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2% Back at Restaurants, Gas Stations, and Drugstores: Like the Prime Rewards version, the regular Rewards Visa card offers 2% back at these common places.
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1% Back on All Other Purchases: This benefit is the same as the Prime Rewards card, with 1% back on everything else.
Both cards offer rewards in the form of points, which can be redeemed for Amazon purchases or gift cards. Rewards can also be redeemed for statement credits, making it a versatile option for using your earnings.
Other Key Benefits of the Amazon Credit Card
In addition to the rewards, there are several other benefits that come with the Amazon Credit Card, regardless of whether you have the Prime or regular version:
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No Annual Fee: Both the Amazon Rewards Visa Signature and Amazon Prime Rewards Visa Signature cards come with no annual fee, which is a huge plus compared to many other credit cards.
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No Foreign Transaction Fees: These cards are an excellent option for international travelers, as there are no foreign transaction fees on purchases made abroad.
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Access to Visa Signature Benefits: As Visa Signature cards, both options offer benefits such as extended warranty protection, travel accident insurance, and purchase protection.
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0% Introductory APR for 6 Months: For new cardholders, there is often a 0% introductory APR on purchases for the first 6 months, which can be a great way to make big-ticket Amazon purchases without accruing interest during the introductory period.
Amazon Credit Card Fees
While the Amazon Credit Card doesn’t come with an annual fee, there are still some fees to be aware of:
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Late Payment Fee: If you miss a payment, you may be charged a late fee of up to $40.
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Returned Payment Fee: A returned payment fee may apply if your payment is returned due to insufficient funds, and this fee can also go up to $40.
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Foreign Transaction Fees: As mentioned, there are no foreign transaction fees, which is ideal for international use.
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Cash Advance Fee: If you use your Amazon Credit Card to take out a cash advance, expect to pay a fee of 5% of the amount or $10, whichever is greater.
How to Redeem Amazon Credit Card Rewards
The rewards points earned with the Amazon Credit Card are easy to redeem. Here are the options available for using your points:
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Amazon Purchases: You can use your points to pay for all or part of your Amazon.com purchases. This is the most common and seamless way to redeem your rewards.
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Amazon Gift Cards: If you prefer, you can redeem points for Amazon gift cards, which can then be used for future purchases.
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Statement Credit: You can also redeem your rewards for statement credits to lower your credit card balance. This is a more flexible redemption option.
Amazon Credit Card Application Process
Applying for the Amazon Credit Card is a relatively straightforward process. Here are the steps to follow:
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Check Your Credit Score: To qualify for either of the Amazon Credit Cards, you typically need a good to excellent credit score (700 or above). It’s a good idea to check your credit score before applying.
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Choose the Right Card: Decide between the Amazon Rewards Visa Signature Card and the Amazon Prime Rewards Visa Signature Card, depending on whether or not you’re an Amazon Prime member.
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Fill Out the Application: You can apply online through the Amazon website or the Chase website. The application will require basic personal information, including your Social Security number, income, and employment details.
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Submit Your Application: After completing the application, submit it for review. Most applicants will receive a decision within a few minutes.
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Activate Your Card: Once approved, you’ll receive your card in the mail. Follow the instructions to activate it and start earning rewards.
Amazon Prime Membership vs. Amazon Credit Card: Should You Get Both?
If you’re a frequent Amazon shopper, combining an Amazon Credit Card with an Amazon Prime membership can lead to significant savings. As an Amazon Prime member, you’ll receive the enhanced 5% back on Amazon and Whole Foods Market purchases, which can quickly add up if you shop on Amazon often.
While the annual cost of Amazon Prime may seem like a consideration, it often pays for itself through the rewards you earn on your purchases, plus the added benefits like free two-day shipping, Prime Video, and exclusive discounts.
Conclusion
The Amazon Credit Card is an excellent option for those who frequently shop on Amazon and want to maximize their rewards. With no annual fee, solid rewards rates, and additional Visa Signature benefits, it’s a great choice for a variety of consumers. Whether you’re a casual shopper or a dedicated Amazon Prime member, understanding the benefits and rewards of the Amazon Credit Card will help you make the most of your purchases.