Key Takeaways

  • With Amazon Prime Day fast approaching, it makes sense to have a credit card rewards strategy ready ahead of time. Signing up for the Prime Visa may be part of one writer's rewards plan this year.
  • Not only does this cash back credit card come with no annual fee for Amazon Prime members, but it offers 5 percent back at and Whole Foods all year long and even more rewards on July 11 and 12 this year.
  • Other reasons author Holly Johnson may sign up include the card's flexible redemption options and built-in consumer protections, like extended warranties and purchase protection against damage or theft.

Amazon Prime Day is scheduled for July 11 and 12 of this year, and we all know what that means. Over the course of this two-day shopping holiday, it’s possible to score some sweet savings on things Amazon Prime members have had their eyes on for a while.

I found some pretty epic deals on a Kindle Paperwhite and a new set of dishes last year on Prime Day, and I’ve been very happy with my purchases so far. I don’t have any specific buys planned for this year quite yet, but I’m sure I’ll find at least a few items to buy that my family wants or needs — at a huge discount, of course.

But, this year I might do something I am always tempted to do but haven’t yet. I might sign up for the Prime Visa (formerly known as the Amazon Prime Rewards Visa Signature Card) ahead of time since this card has been on my list for quite a while. Why am I considering the Prime Visa card? For the most part, I’m sick of earning a suboptimal rewards rate on all my Amazon spending. Read on to find out all the reasons I’m on the verge of signing up.

Earning 5 percent back on Amazon is a no-brainer

While I sometimes change the preferred payment method on my Amazon Prime account, I’m never earning as much in rewards as I could be. The most rewarding credit card I have for regular purchases is the Wells Fargo Active Cash® Card, which earns a flat 2 percent cash back on purchases with no annual fee. In the meantime, the Prime Visa card earns more than twice that in several categories — Unlimited 5 percent back on spending, Amazon Fresh purchases, Whole Foods Market purchases and travel through Chase with an eligible Prime membership. Chase and Amazon are also promising Amazon Prime members 6 percent back at and Whole Foods Market purchases on July 11 and 12 this year, which is yet another reason to sign up.

Other bonus rewards categories this card offers aren’t bad either, including 2 percent back at gas stations and restaurants and on local transit (including rideshares) and commuting. There are also Prime Card Bonus Deals that can help users boost their rewards on eligible purchases that change throughout the year.

I’m already an Amazon Prime member (with plans to stay that way)

Also be aware that the Prime Visa doesn’t charge an annual fee if you’re already an Amazon Prime member. This is a great benefit since the rewards rate is so high for Amazon and Whole Foods purchases.

Since my family shops online on a regular basis, we get a lot out of our Amazon Prime membership throughout the year. With that in mind, I see myself paying for our membership for the foreseeable future.

Related: Which Amazon credit card is best for you?

This card has built-in consumer protections

The Prime Visa comes with a larger selection of perks than many people realize, including travel insurance benefits like auto rental coverage, baggage delay insurance, lost luggage reimbursement, travel accident insurance and travel and emergency assistance. However, I would only use this card for Amazon and Whole Foods purchases, so none of those perks would apply to me anyway.

Benefits that would apply are really enticing, including extended warranty protection on eligible items that come with a manufacturer’s warranty and purchase protection against damage or theft. The extended warranty coverage that comes with this card increases the time period of a U.S. manufacturer’s warranty by an additional year provided the item has a manufacturer’s warranty of three years or less. Meanwhile, purchase protection afforded on this card is worth up to $500 per claim and up to $50,000 per account, and it applies to eligible items for 120 days from the purchase date.

Flexible redemption options

I also like the fact the Prime Visa comes with so many redemption options for rewards. For example, the fine print on the card says you can redeem for cash back, gift cards, travel through Chase or for purchases at Amazon.

These options work well for me since I would be totally fine redeeming rewards for more Amazon purchases. This means I could use cash back for anything from clothing for my kids to trash bags or chemicals for our hot tub.

Enticing welcome offers fluctuate

Current welcome offer: Get a $100 (or more) Amazon Gift Card instantly upon approval exclusively for Prime members.

There’s no minimum spending requirement listed for this offer, and earning a $100 (or more) in an Amazon gift card right off the bat is fairly enticing. After all, this bonus is now on par with offers from other popular cash back credit cards like the Wells Fargo Active Cash® Card and the Chase Freedom Unlimited®*.

The bottom line

I have been hesitant to sign up for the Prime Visa card in the past for a few reasons, including the disappointing welcome offer this card is known for. However, I think I’m ready to sign up for the sole purpose of maximizing cash back for my family’s spending.

From there, I’ll continue using my favorite travel credit cards and cash back credit cards strategically for other bills and items we buy. This game plan will help us maximize rewards around the way we live and spend all year long, both on and elsewhere.

*All information about the Chase Freedom Unlimited® has been collected independently by and has not been reviewed or approved by the issuer.