Difference between revisions of "Amazon credit cards"
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Latest revision as of 14:38, 10 September 2021
No annual fee
$100
Upon approval
($100 net value)
Signup Bonus Chart5% Amazon Purchases
2% Restaurants
2% Gas
2% Drugstores
1% Everywhere Else
No Foreign Transaction Fee
The Amazon Prime Visa card (and the Amex Business Prime card) earn the highest reward rate on Amazon purchases. For the many people who spend an increasingly large amount of their money at Amazon, getting one of these no-annual fee Amazon Cards will boost the rewards they can earn each year.
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Amazon Credit Card Options
There are five Amazon-branded credit cards. None of them have an annual fee.
- Amazon Prime Visa. The main card that is marketed by Amazon is issued by Chase. It provides a 5% reward rate at both Amazon and Whole Foods and has a small signup bonus. Chase Webpage. Amazon Webpage. Signup Bonus Chart.
- Amazon Visa. Only earns 3% at Amazon and Whole Foods and has a lower signup bonus. Unlike the more valuable Amazon Prime Visa, it is available to people who aren't Amazon Prime members, but there are very few people who can justify getting a card just for higher rewards at Amazon who don't belong to Prime. Chase Webpage.
- Business versions. Amex issues business versions of the Prime and regular cards. Signup bonuses are a little higher than for the personal versions. In addition, the business versions explicitly earn their Amazon bonus category rates on Amazon Web Services and Amazon Business Services expenditures. However, they also tend to offer fewer special Amazon shopping promotions. Amex Webpage. Amazon Webpage. Signup Bonus Chart.
- Amazon Prime Store Card. Prime members also have access to a "merchant card" that offers 5% rewards at Amazon, but can't be used at any other merchants. It is issued by Synchrony, managed directly the Amazon website, and participates in most cardholder promotions. The main reason to get this version is to avoiding using Chase or Amex "slots" that you could use to get more valuable alternative cards. The downsides are that it doesn't earn rewards at Whole Foods, comes with a tiny signup bonus, and often has relatively low credit limits. Amazon Webpage.
Because of Chase's 5/24 rule and Amex's 4-5 credit card limit, which card to get depends on the other cards if you want. If you are going to be collecting a lot of cards, we actually recommend getting the "Store Card" from Synchrony and saving all your "slots" for other Chase and Amex cards. If the Chase 5/24 rule is not an issue, the personal Prime card is the better option due to its occasional promotional offers.
An even better option could be the Affinity Cash Rewards Card. It earns 5% at bookstores, including general Amazon purchases, as well as on a rotating set of other categories. Downsides are that you won't earn rewards at Whole Foods and the card doesn't participate in Amazon's cardholder promotions. Anyone can join the Affinity Credit Union, but it can sometimes be hard to get approved for this card.
Collecting the Signup Bonus
This card is primarily interesting for its bonus rewards on Amazon and Whole Foods, not for its signup bonus. The normal signup offer is $70 (Chase Personal) or $125 (Amex Business). It isn't very much, but it is better than nothing.
Notable Benefits
The Visa Card provides the following benefits.
- Access to the Visa Signature Luxury Hotel Collection. As with all Visa Signature cards, you'll get access to Visa's luxury hotel program. Whenever you book one of the 900+ participating hotels, you'll receive a set of valuable benefits, including free breakfast, late check-out, and a $25 food and beverage credit. The Visa program has slightly weaker benefits than the other luxury hotel programs, but includes a larger number of more affordable hotel options and a best price guarantee. Take Advantage of Luxury Hotel Programs for Valuable Extra Perks.
- Access to Visa Signature Offers. Your card entitles you to a set of special offers available from Visa.
The Amex Card provides the following benefits
- Access to Amex Offers. Amex continuously provides discount offers to their cardholders. Most of the offers are in the form of "Spend $x, get $y back", but other offers are in the form of "x% off your entire order" or "Earn an extra Membership Reward point on your purchases". To take advantage of the offers, you need to go to the Amex website, find the ones you are interested in, and "add them" to your card. Each offer will then be automatically applied when you use your card to make the corresponding purchase. Amex Offers Website.
- Free ShopRunner membership. As with all Amex cards, you are entitled to a complimentary ShopRunner membership, which provides free two-day and return shipping from around 150 of the largest online retailers. ShopRunner Website
- Exclusive access to entertainment events. Amex sponsors cardmember-only events around the country and also provides early ticket access for some other shows.
Bonus Categories
- The Amazon Prime card earns the most valuable rewards on Amazon purchases. You'll earn 5% back.
- The Amazon Prime card also offers a very good reward rate on Whole Food purchases. You'll earn 5% back. That is much better than what you'd get from your general-purpose reward card, but not quite as good as you can get from the best cards for grocery store spending. However, many of the good grocery category bonuses are capped, so it is nice to have another option that offers an excellent reward rate. Best Credit Cards for Grocery Spending.
- The bonus rewards rate for restaurant, drugstore, and gas purchases is not very interesting. You should be earning as much or more from your general-purpose reward card and can do even better with a card that earns bonus rewards for these categories. Best Credit Cards for Restaurant Spending. Best Credit Cards for Gas Spending.
- You don't want to use these cards for your everyday spending. You'll earn higher rewards from a good general-purpose reward card. Get a Great General Purpose Reward Card and Use It for All of Your Spending.
Getting Rid of the Card
Make sure to use up your account balance before you cancel your card. Unlike other co-branded credit cards, your Amazon Reward points are managed by Chase or Amex, and not Amazon. If you don't apply them to new Amazon purchases, you can apply them against previous charges on your statement by going to the Chase or Amex website.