Amazon Rewards Credit Card Review

By Kevin / January 12, 2017
amazon credit card reviewed

Amazon Rewards and Prime Rewards Visa Card

Amazon.com Visa credit card

CreditShout Rating

Annual Fee: $0

Rewards Program and Signup Bonuses*:

  • Prime Members: Get a $70 Amazon.com Gift Card* instantly upon credit card approval
  • Prime Members: Earn 5% Back at Amazon.com; everyone else earns 3% Back 
  • Earn 2% Back at gas stations, restaurants and drugstores
  • Earn 1% Back on all other purchases
  • No earning caps — No point expiration

Intro APR

N/A

Intro Balance Transfer

N/A

Regular APR

14.74% to 22.74% Variable on Purchases and Transfers

Verdict

Amazon and Chase just updated the Amazon Rewards Visa to issue a Prime version of the card. And now you can earn 5% cash back on all your Amazon.com purchases.

Not a member of Amazon Prime?​ Well you should be. But you will still qualify for 3% back on your Amazon purchases.

Existing Amazon Rewards cardmembers will not qualify for the $70 signup offer. But if you are a Prime member, you were automatically upgraded to the Prime Rewards version of the card (with new cards expected to ship at the end of February.)

Amazon Rewards Visa Overview

The Amazon Rewards Visa card is good anywhere Visa is accepted and is a great option for those who want a rewards card and shop often on Amazon.com. With its easy to use cash back rewards, it's no wonder the Amazon credit card makes our list of Top Store Credit Cards.

Like many cash back credit cards, The Amazon.com Rewards Visa earns points on all purchases.

For every $1 spent with your Amazon.com Rewards Visa card you earn up to 5 points for all purchases at Amazon.com, 2 points for purchases at gas stations, drug stores, and restaurants, and 1 point for everything else.

And this means that the Amazon rewards credit card officially gives you the same 5% discount rate as the Amazon Prime store card offers. 

Also, since the store card could not be used on your Prime Now purchases, you can now earn 5% back on all your Amazon purchases.​

And since Amazon claims to be the everything store, that is a lot of items you can earn 5% back on.

The chief benefit is that every point can be redeemed for $0.01 (i.e., every 100 points is worth $1) directly at the checkout window on Amazon.

The APR is very low on this card and there's no annual fee. (Though Prime membership does cost $99/year.)

This card earns points on every purchase, explained later. You can redeem these points directly at checkout on Amazon -- and there is no minimum redemption amount.

The Benefits of Amazon Prime

If you are not an Amazon Prime member, here are just some of the benefits of joining:

  • ​Free two-day shipping
  • Amazon Prime Now (Amazon's local delivery service)
  • Amazon Video offers tons of free movies and TV shows
  • Access to free books and music
  • So much more!

Yes, Prime costs $99 per year. But I know our family has gotten a lot of value from it. 

Fees

​There is no annual fee. But that is where the fees stop being cheap, unless you qualify for the lowest available APR.

The APR for the Amazon.com Rewards Visa card is a variable 14.74% - 22.74% APR, depending on your creditworthiness.

The APR for balance transfers is the same as that for purchases. The transaction fee for balance transfers is 5% of the amount, not less than $5.

For cash advances, a variable APR of 25.49% applies. The transaction fee for balance transfers is 5% of the amount, but not less than $10.

The overdraft advance APR also is 25.49%.

The grace period is at least 21 days.

Late payment fees are $15 for balances under $100, $27 for balances between $100 and $249.99, and $37 for balances $250 and over.

The Bottom Line

The Amazon Visa is not just  a great store card - it is a great cash back credit card. And it comes with no annual fee. However, you need to watch out for the fees (which is pretty much true of all credit cards).

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