Retail Giant Amazon.com has teamed up with Chase to absolution the Amazon Prime Rewards Visa Signature Card. The new agenda combines the best appearance of the Amazon Prime abundance agenda with the aboriginal Amazon Rewards Visa credit card — best notably, a whopping 5% banknote aback on all Amazon purchases for — you estimated it — Prime members.
Five percent is appealing abundant acme as far as acclaim agenda rewards go, but that doesn’t beggarly the new agenda is appropriate for everyone. Here’s what to apperceive if you’re cerebration about signing up for Amazon Prime and/or its new acclaim card.
What Are the Allowances of the New Amazon Prime Card?
Once you are accustomed for the Amazon Prime Rewards Visa Signature Card, you will instantly accept a $70 Amazon.com allowance card. Aback you use the agenda on Amazon.com, you will accept 5% banknote aback with your Prime membership. In addition, you will accept 2% aback aback you use your agenda at restaurants, gas stations, and biologic stores, and 1% aback on all added purchases. (For a quick comparison, the aboriginal Amazon Rewards Visa acclaim agenda offers 3% banknote aback on Amazon.com purchases, 2% banknote aback at restaurants, gas stations and biologic stores, and 1% banknote aback on aggregate else. You can acquisition a abounding analysis of that agenda here.)
When you are accessible to redeem your rewards, you can do so calmly on Amazon.com. Each point that you accept is anniversary one cent. Aback you arch to checkout, you will see your accessible banknote aback balance. There is no minimum bulk bare for redemption. You can pay for allotment or all of your acquirement application your accessible points. You can additionally redeem your rewards for cash, allowance cards, or biking expenses.
While this agenda is best-suited to the common Amazon.com shopper, it’s additionally a acceptable fit for the common traveler. It comes with no adopted transaction fees, added you will accept biking blow insurance, accoutrements adjournment insurance, and absent accoutrements assistance.
The Amazon Prime Rewards Visa Signature agenda offers arcade allowances as well. You will accept acquirement protection, area you will be covered up to $500 per affirmation and $50,000 per account, adjoin annexation or accident for the aboriginal 120 days. You will additionally accept continued assurance protection, which will extend any assurance of three years or beneath by an added year. If you are a accepted Amazon Prime affiliate and accept the accepted Amazon Rewards Visa Rewards card, you will be automatically upgraded for free.
The Amazon Prime Rewards Visa Signature Agenda does not appear with an anniversary fee, but you will be appropriate to accept a $99 Amazon Prime membership. With your membership, you will accept chargeless two-day aircraft and admission to Amazon Prime Video.
The agenda comes with a accepted capricious anniversary allotment bulk (APR) of 14.74% to 22.74%, depending on your creditworthiness. (You can get an abstraction of whether you could authorize for the agenda — and at what APR — by examination two of your chargeless acclaim scores, adapted every 14 canicule on Credit.com.) If you are planning a antithesis transfer, there is a fee of either $5 or 5%, whichever is greater.
If you are an absolute Amazon Prime member who has the Amazon Rewards Visa Signature card, this agenda would be an accomplished accession to your wallet. The adeptness to acquire 5% aback instead of 3% on purchases from Amazon.com adds a lot of value. Of course, you’ll appetite to use the agenda anxiously so you don’t lose your hard-earned rewards to aerial absorption or debt. That means, if you’re decumbent to accustomed a antithesis or the attraction of 5% banknote aback will advance to one-click orders you can’t absolutely afford, you’re bigger off attractive into a low-interest acclaim card.
If you accept been because an Amazon Prime membership, this ability be incentive to assurance up. Depending on how abundant arcade you do from Amazon, the chargeless two-day aircraft can advice you save a cogent bulk of money. Combine that with the 2% access in earnings, and you could potentially absolve the $99 Amazon Prime associates fee appealing quickly. On the added hand, if you don’t boutique at Amazon often, the rewards ability not absolve that defacto $99 anniversary fee. And, of course, the aforementioned aphorism about accustomed a antithesis applies: If you’re decumbent to accomplishing so, a rewards acclaim agenda isn’t absolutely your best recourse. They tend to acclaim college APRs and you’ll aloof be accident banknote aback credibility of afar to interest.
Note: It’s important to bethink that absorption rates, fees and agreement for acclaim cards, loans and added banking accessories frequently change. As a result, rates, fees and agreement for acclaim cards, loans and added banking accessories cited in these accessories may accept afflicted back the date of publication. Please be abiding to verify accepted rates, fees and agreement with acclaim agenda issuers, banks or added banking institutions directly.
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