Amazon Prime Rewards Visa Card Review: 5% Back on Amazon Purchases Exclusively for Prime Members
- 5% back on Amazon purchases
- 2% back on gas, restaurant, and drugstore spending
- $70 sign up bonus
- $0 annual fee
- No foreign transaction fees
- No 0% intro APR offer
- Relatively high balance transfer fees
- Exclusively for customers with an eligible Prime membership
- $70 Amazon.com Gift Card instantly upon credit card approval
- 5% back at Amazon
- 2% back at gas stations, restaurants and drugstores
- 1% back on all other purchases
- No foreign transaction fees
The Amazon Prime Rewards Visa Card is a good all-around rewards card for getting the most value on basic spending needs. It is best fit (and exclusively) for current Amazon Prime customers who can make the most of 5% back on Amazon purchases, as other cards offer similar rewards on gas and restaurant spending.
- Unlimited 5% back on Amazon purchases – Earn unlimited 5% back on all Amazon purchases. Competing bonus rewards cards offer similar rates, but spending is capped. For this card, rewards are earned as points, which generally carry a value of $0.01 apiece. Keep in mind, spending at restaurants, gas stations, and drugstores earns 2% back while other purchases earn 1% back. Cardholders also have several redemption options for points beyond Amazon purchases. For example, cardholders can pay with points immediately for Amazon purchases or redeem for statement credits starting at 2,000 points (worth $20).
- Instant $70 sign-up bonus – The card offers an instant $70 gift card upon credit approval. Generally, sign-up bonuses are dependent on spending levels rather than approval and not instant.
- $0 annual fee – The Amazon Prime Rewards Visa Card is feature-packed, especially since it doesn’t charge an annual fee.
- No foreign transaction fees – Take this card overseas with confidence. The card doesn’t charge a foreign transaction fee, whereas other cards frequently charge a 3% foreign transaction fee. On $2,000 of annual spending, no transaction fees save cardholders $60 per year.
What could be improved about Amazon Prime Rewards Visa Card
- 0% intro APR offer – Cardholders wanting a 0% introductory offer for a large new purchase or balance transfers may not find this card valuable. Check out our picks of the best 0% intro APR credit cards if this is a must-have perk.
- Balance transfer fees – The card carries a transfer fee of $5 or 5%, whichever is greater. Most balance-transfer credit cards charge a lower $5 or 3% fee. Indebted cardholders should likely look elsewhere if focused on paying down debt.
How to best use the Amazon Prime Rewards Visa Signature Card
- As we believe is best with credit cards, this one is best paid in full each month. Interest on balances will rapidly pile up faster than rewards earned on spending. Paying off the statement balance in full each month will avoid interest charges.
- Set this card up as the default card in an Amazon account to ensure the 5% bonus is maximized. It may be a good card to use for purchases at restaurants, drugstores, and gas stations, as well, given its 2% back rate.
- To stretch rewards, consider using this card for bonus-category purchases in tandem with a flat-rate cash-back card for all other purchases. Some competing cards double this cards 1% back base rate. Of course, using this strategy all comes down to how important the incremental rewards are for you, given the additional complexity of carrying another card in your wallet and managing your finances.
How to secure a $150 sign-up bonus and 3% cash back on gas
The real perk is unlimited 5% back on Amazon purchases as its 2% rewards rate on restaurants, gas, and drugstores can be duplicated by other cards. Weighing slightly on our enthusiasm is the fact that it doesn’t have a 0% intro APR and carries higher-than-average balance transfer fees. Some cardholders consider these perks to be a must-have, and some don’t, but we can always hope for best-in-class perks across the board in one card. Regardless, this card may be as good as they come for Amazon fans.