Amazon Prime Rewards Card

How to Get an Amazon Credit Card and Is It Worth It?

 What is an Amazon Credit Card?

The most common type of Amazon Credit Card is the Amazon Prime Rewards Visa Signature Card. It’s backed by Chase Bank (a subsidiary of JPMorgan Chase & Co). If you are an existing Amazon Prime subscriber, then you may qualify for it. Technically, it’s free to own as long as you are a Prime subscriber. You can use it in any establishment that accepts Visa.

There are also other types of Amazon Credit Cards, which we will also discuss briefly later. However, we will focus on the Amazon Prime Rewards card in this article.

How Is It Different From a Traditional Credit Card?

Since the Amazon Prime Rewards Visa Signature Card is powered by Chase Bank, the bank handles its revolving credit issues and services. It is similar to the Amazon Rewards Signature Visa Credit card in that aspect, which is its alternative card (also co-branded). Both cards can be used in all establishments that accept Visa.

However, the Amazon Prime Rewards Visa Signature Card has unique benefits that cannot be found in other cards:

  • Cashback of 5% when you shop at Amazon.com and/or Whole Foods
  • Cashback of 2% at drugstores, restaurants, and gas stations
  • Cashback of 1% on other purchases
  • Cashback values have no limit (earn as much as you can)
  • You can redeem rewards for gift cards
  • You can redeem rewards for travel
  • You can redeem rewards and use them to pay for purchases on Amazon
  • New members are entitled to an Amazon.com gift card worth $100
  • Option to select a card design featuring Amazon or Whole Foods

What Are the Benefits of Getting an Amazon Credit Card?

Aside from the perks outlined above, it’s a great option if you spend the majority of your budget on grocery and household shopping. This is because you can earn higher rewards specifically if you already spend a lot on Amazon and Whole Foods.

Other benefits are:

  • No Annual Fee
  • Zero Fraud Liability
  • Extended Warranty Protection
  • Purchase Protection
  • Roadside Dispatch
  • Auto Rental Collision Damage Waiver
  • No Foreign Transaction Fees
  • Travel and Emergency Assistance
  • Lost Luggage Reimbursement
  • Travel Accident Insurance
  • Baggage Delay Insurance
  • Visa Signature® Concierge Service
  • Visa Signature® Luxury Hotel Collection

For more detailed information on each benefit, click here.

What Are the Drawbacks of Getting an Amazon Credit Card?

The main drawback if you are not yet currently a Prime member is the cost of membership, which is $119 per year. You’d have to spend approximately $200 every month (or $2,380 in a year) to break even with the membership cost.

Again, if you already spend a lot on Amazon and Whole Foods, it shouldn’t be an issue. So consider if the fee and additional perks are worth the initial membership fee investment, in case you’re not yet a Prime member and would like to have the card.

How Do I Get an Amazon Credit Card?

You may apply for the card at Amazon’s Credit Card Marketplace. You will need to fill in the application and submit it for Chase Bank’s approval. Chase Bank will authorize and administer the vetting and approval process of your application, as well as the financial logistics thereafter.

Amazon.com states that ‘if your application is instantly approved, you’ll be taken to a page that includes the Cardmember Agreement, the terms of your Amazon Rewards Visa Signature account, and other important information.’

If you’re not instantly improved, the bank will reach out to you regarding your status upon reviewing your credit history.

The process typically takes two to four weeks.

What Are the Various Types of Amazon Credit Cards Available?

Below is a brief overview of the Amazon credit cards you can consider. There are two credit cards for consumers with Amazon credit card rewards, and two as well for small businesses.

Amazon Prime Rewards Visa Signature Card

This is a consumer card which Amazon offers to those who have an Amazon Prime membership. All of the details we discussed in this article primarily apply to this type of card.

Amazon Rewards Visa Signature Card

This is also a consumer card and is an alternative to the Amazon Prime Rewards Visa Signature Card, for those who opt to not pay for a Prime membership.

Benefits include:

  • No Annual Fee
  • No Prime Membership Required
  • No Foreign Transaction Fees
  • 3% cashback when you shop at Amazon.com and Whole Foods
  • 2% cashback at drugstores, restaurants, and gas stations
  • 1% cashback on other purchases

Amazon Business Prime American Express Card

This is a small business credit card, offered by Amazon to Business Prime members.

Benefits include:

  • No Annual Fee (Business Prime Membership is Required)
  • No Foreign Transaction Fees
  • Option to choose between:
    • 5% in rewards
    • 90 days terms on purchases at AWS, Amazon.com. Whole Foods, Amazon Business
  • 2% cashback at restaurants, wireless telephone services, and gas stations
  • 1% cashback on other purchases

Amazon Business American Express Card

This is also a small business credit card, offered by Amazon to small business owners who opt to not pay for a Business Prime membership.

Benefits include:

  • No Annual Fee
  • No Business Prime Membership Required
  • No Foreign Transaction Fees
  • Option to choose between:
    • 3% in rewards
    • 60 days terms on purchases at AWS, Amazon.com. Whole Foods, Amazon Business
  • 2% cashback at restaurants, wireless telephone services, and gas stations
  • 1% cashback on other purchases

Pay Later Options

If you want to spread the cost of large purchases then there is another option. Amazon now offers monthly payments on certain eligible items. Monthly payments offer you the ability to pay for a purchase in 5 payments. To check if you are eligible for amazon payment plans and which items you can purchase see our guide here.

Final Thoughts

Amazon offers several credit card options to its Prime and non-Prime members. Depending on whether you’re a consumer or a small business owner, you can choose from Amazon’s Credit Card Marketplace for the best option for your needs.

As for the Amazon Prime Rewards Visa Signature Card and the Amazon Rewards Visa Signature Card, they’re generally great options if you purchase a lot on Amazon and Whole Foods, because then you can actually save money through cashbacks and rewards. However, if you rarely shop at Amazon or Whole Foods, then an Amazon credit card may not be the best option for you.

We hope this article helps you find the best suitable option for you if you’re looking to get an Amazon credit card soon.

Leave a Comment

Your email address will not be published.