Amazon Credit Card Review: Which Card is Best?
The right Amazon credit card can help you earn rewards for shopping on one of your favorite sites. This is particularly true for Amazon Prime customers who may want to take advantage of the Amazon Prime Rewards Visa Signature Card.
Thanks to a seemingly endless collection of products, quick shipping, and a slew of other perks, like videos, music, and cloud storage, millions of American’s flock to Amazon to get their retail and digital content fix. If you’re a loyal customer of the number one e-commerce company in the nation, then you may be able to maximize your Prime membership by earning rewards with an Amazon credit card.
Amazon offers three rewards credit cards. These include the Amazon Store Card, which can only be used at Amazon.com, as well as two Visa cards that can be used anywhere, allowing cardholders to earn rewards for purchases on and offline.
We wanted to help you determine which Amazon card is best, and after examining what each card has to offer, we can confidently say that the Amazon Store Card isn’t worth considering for most people; it’s simply too limited in scope.
However, both the Amazon Rewards Visa Signature Card and the Amazon Prime Rewards Visa Signature Card have a lot to offer. This guide will help you choose which one is right for you.
In this review:
- Amazon Prime Rewards Visa Signature Review
- Amazon Rewards Visa Signature Review
- Which Amazon Credit Card Is Right for You?
Amazon Prime Rewards Visa Signature Card Review
Amazon Prime Rewards Visa Signature Card
- Sign-Up Bonus: Instant $80 gift card upon credit card approval
- Rewards Rate: 5% cash back at Amazon.com and Whole Foods Market; 2% cash back at restaurants, drug stores, and gas stations; 1% cash back on everything else
- APR: 16.49% – 24.49%
- Annual Fee: $0 (Amazon Prime subscription required)
Amazon Prime Credit Card Benefits
Available exclusively to Prime members, the Amazon Prime Rewards Visa Signature card is designed to help members maximize rewards when shopping on Amazon.com
With the Amazon Prime Rewards Visa Signature card, customers can earn 5% cash back on purchases at Amazon.com, 2% cash back on purchases made at restaurants, gas stations, and drug stores, and 1% cash back on everything else.
Amazon credit card customers can redeem their points at checkout to pay for Amazon.com purchases. They can also redeem points for travel, gift cards, and other items made available. Finally, cardholders who have accumulated 2,000 or more points can choose to redeem points for cash back, which will appear as a statement credit or can be transferred to an eligible checking or savings account.
This Amazon credit card offers several basic travel perks including the following:
- Visa Signature Luxury Hotel Collection benefits: receive the best available rates, room upgrades, and a host of other benefits when staying at one of the properties included in the Visa Signature Luxury Hotel Collection.
- Travel accident insurance: receive up to $500,000 in accidental death or dismemberment coverage when using this Amazon card for travel via air, bus, train, or cruise ship
- Baggage delay insurance: receive up to $100 per day for three days to cover essential purchases like toiletries or clothing when baggage is delayed for more than 6 hours.
- Lost luggage reimbursement: receive up to $3,000 in coverage in the event that checked or carry-on luggage is lost or damaged by the carrier.
- Travel and emergency assistance: Access to the Benefit Administrator line for assistance while traveling; this includes legal and medical referrals as well as assistance during other travel and emergency situations.
- No foreign transaction fees: There are no foreign transaction fees when using this card for purchases outside of the U.S.
In addition to the Amazon card rewards program, cardholders will also be able to take advantage of the following perks:
- Zero fraud liability: cardholders will not be held accountable for unauthorized purchases.
- Extended warranty protection: products purchased using this Amazon credit card will be eligible for a year-long warranty extension when the manufacturer’s warranty covers three years or less.
- Purchase protection: products purchased using the Amazon Prime Rewards Visa Signature card will be covered against theft or damage for 120 days after the purchase date. Claims cannot exceed $500 each, and protections are limited to $50,000 per account.
Downsides of the Amazon Prime Rewards Visa Signature Card
There are a couple of downsides to consider—namely, the fact that this card only makes sense for people who already find value in Amazon Prime.
Amazon Prime Subscription Required
Although there’s no annual fee, you do have to pay for Amazon Prime ($119 if you pay annually). Considering all of the benefits you get with Prime (free 2-day shipping, Amazon Prime streaming, and more), it’s probably worthwhile even without the card, so this is a small downside.
Low Sign-Up Bonus
Although no spending is required to qualify, the $80 gift card new cardholders receive upon approval make for a relatively low sign-up bonus. For example, new Chase Freedom cardholders can earn $150 cash back after spending $500 in their first three months. And the Chase Sapphire Preferred allows you to earn 60,000 points, which are worth up to $750 when redeemed for travel through Chase Ultimate Rewards.
Amazon Rewards Visa Signature Card Review
Amazon Rewards Visa Signature Card
- Sign-Up Bonus: Customers who are approved for this Amazon card will instantly receive a $50 Amazon.com gift card
- Rewards Rate: 3% cash back at Amazon.com and Whole Foods Market; 2% cash back at restaurants, drug stores, and gas stations; 1% cash back on everything else
- APR: 16.49% – 24.49%
- Annual Fee: $0
Amazon Credit Card Benefits
If you frequently shop on Amazon.com or at Whole Foods, this Amazon Rewards Visa Signature card can earn you 3% cash back without the additional fee of an Amazon Prime membership.
This Amazon card entitles users to similar rewards as those associated with the Amazon Prime Rewards Visa Signature Card. However, Amazon and Whole Foods purchases will earn slightly less. Cardholders can receive 3% back on purchases made at Amazon.com and Whole Foods, 2% cash back on restaurants, gas stations, and drugstores, and 1% cash back on everything else.
Points can be redeemed at Amazon.com while making purchases, or they can be redeemed for travel, gift cards, and more. Cardholders who have earned 2,000 or more points can also redeem their rewards for cash back in the form of a direct deposit to an eligible account or as a statement credit.
The Amazon Rewards Visa Signature Card offers the same travel perks as the Amazon Prime rewards card. This includes the following:
- Visa Signature Luxury Hotel Collection benefits, including access to the best rates, room upgrades, and other benefits at Visa Signature Luxury Collection properties.
- Travel accident insurance that provides up to $500,000 in the case of death or dismemberment when engaging in air, but, train, or cruise ship travel purchased with the card.
- Baggage delay insurance when your luggage is delayed by the carrier for up to 6 hours. This includes up to $100 a day for necessities like toiletries or clothing.
- Lost luggage reimbursement that allows for up to $3,000 in coverage in the event that the carrier loses or damages carry on or checked luggage.
- Travel and emergency assistance, including legal and medical referrals
- No foreign transaction fees when using this card for purchases outside of the U.S.
Similarly, this Amazon card offers the same shopping features associated with the Amazon Prime Rewards Visa Signature card. This includes the following:
- Zero fraud liability, which means cardholders are not held accountable for unauthorized purchases.
- Extended warranty protection, which increases the manufacturer’s warranty by one year when the manufacturer’s warranty is three years or less.
- Purchase protection for up to to $500 per purchase ($50,000 total) for items purchased with the Amazon card and stolen or damaged within 120 days of purchase.
Downsides of the Amazon Rewards Visa Signature Card
Not the Best for Whole Foods Lovers
If you’re considering this card because you frequent Whole Foods, you may want to consider other cash back cards that offer increased rewards for supermarket purchases. This includes the Amex Blue Cash Preferred card, which allows you to earn 6% cash back at U.S. supermarkets, including Whole Foods, on up to $6,000 in purchases per year.
An Even Lower Sign-Up Bonus
With a minuscule sign-up bonus that comes in the form of a $50 Amazon gift card, this card fails to deliver in the bonus department.
Which Amazon Credit Card Is Right for You?
If you’re an existing Amazon Prime member and want a way to optimize that partnership, the Amazon Prime Rewards Visa Signature card can be an excellent option. With 5% cash back on all Amazon.com and Whole Foods purchases and no additional annual fee, the card can earn significant rewards without many cons. However, it’s important to keep in mind that earning potential is tied to Prime membership, which currently costs $119 per year.
If you’re not an Amazon Prime customer and don’t intend to become one, the Amazon Rewards Signature Visa may seem appealing, but you may want to shop around first. There are many other cash back credit cards on the market that offer more competitive rewards programs and enticing sign-up bonuses.
Author: Jennifer Lobb
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