Amazon Prime Rewards Visa Signature Card review
Amazon Prime Rewards Visa Signature Card Overview
The Amazon Prime Rewards Visa Signature Card is one of the best online shopping credit cards due to its high reward rates on Amazon purchases with no spending caps and Visa Signature benefits.
The biggest drawbacks are the required Amazon Prime membership and a few missing purchase protections—but these are minor nitpicks compared to what many other store cards (don’t) offer.
Want more details? Jump to the following sections:
What are the advantages and disadvantages?
A deeper look into the current card offer
- Rewards Rate: 5 percent back at Amazon.com and Whole Foods Market; 2 percent back at restaurants, gas stations and drugstores; 1 percent back on all other purchases
- Welcome Offer: $150 Amazon gift card upon approval
- Annual Fee: $0 ($119 Amazon Prime subscription required)
- Purchase Intro APR: N/A
- Balance Transfer Intro APR: N/A
- Regular APR: 14.24 percent to 22.24 percent variable
Current sign-up bonus
Ahead of Prime Day, the Amazon Prime Rewards Visa Signature Card updated its intro offer to a sizable $150 Amazon gift card when you’re approved. This syncs perfectly with the new 10+ percent boosted rewards limited-time offer for select products on Prime Day, which runs from June 21 (12:01 a.m. PT/3:01 a.m. ET) to June 22 (11:59 p.m. PT/June 23, 2:59 a.m. ET) but can sometimes run a little longer.
This is on par with the low end of many sign-up bonuses we typically see, which usually weigh in at $150 to $200 with no annual fee cards. However, there is no spending requirement for the standard Amazon credit offer—you receive the bonus instantly—and many store cards don’t offer a sign-up bonus at all. As far as retail cards go, the bonus is a nice plus since it can cover the $119 yearly cost of Amazon Prime membership for the first year.
Although it’s not a traditional sign-up “bonus,” there’s also an alternate Whole Foods Market card art, which became available for new cardholders starting Jan. 22, 2021. Existing cardholders can also switch card designs if they want to show off their Whole Foods loyalty.
Regular Amazon shoppers will have no problem earning a slew of rewards with the Prime card. With one of the highest-earning rates available for Amazon purchases, you’ll only need to spend $2,380 to recoup your Prime membership.
Amazon.com and Whole Foods Market purchases will earn you unlimited 5 percent rewards. Plus, you’ll earn 2 percent at restaurants, gas stations and drugstores, along with 1 percent back on all other purchases.
Since the 5 percent category also applies to Whole Foods Market, this is also one of the best grocery rewards rates if you can do your grocery shopping there.
Amazon and Chase occasionally do offer additional ways to earn rewards. Amazon regularly posts limited-time “Exclusive Prime cardmember” offers that provide anywhere from 10 to 25 percent back on select items.
Although the reward terms make it sound like you’re earning cash back, you’re actually earning points. The Amazon Prime Rewards is a Chase credit card and earns cash back in the form of equivalent points. You can redeem your points at a 1:1 value toward cash back, travel, Amazon purchases upon checkout and gift cards.
There is no minimum rewards balance to redeem for cash back or for Amazon purchases, but there’s a disappointingly long list of what you can’t use points to purchase. Many of these items are small purchases that you would probably use points on the most, such as music, Kindle and video downloads. Depending on what you may spend points on, cash back might be the most flexible option.
How much are the rewards worth?
Each point is worth 1 cent. You can maximize your cash back on Amazon by taking advantage of the site’s “subscribe and save deals” and other retailers’ Amazon gift card promotions for extra discounts and rewards.
Other cardholder benefits
The Amazon Prime Rewards card carries a surprising number of benefits for a retail card—even Luxury Hotel Collection and concierge service premium travel perks.
Since it’s a Visa Signature credit card, it comes with a handful of travel and shopping protections that are standard to many rewards cards. But even these “standard” Visa benefits outnumber other cards, like Discover.
Your card’s travel accident insurance (coverage up to $500,000), lost luggage reimbursement (up to $3,000 per passenger) and baggage delay insurance do a little to smooth the rough edges of airport travel. Or, if you’re on the road, the auto rental collision damage waiver and roadside dispatch service can be a big help in a pinch.
Purchase and extended warranty protections
These two purchase protection benefits provide some peace of mind when you come across a good deal, but you’re worried about iffy merchants or shipping damage. The extended warranty protection increases eligible warranties (three years or less) by a whole year. Meanwhile, your purchase protection covers new purchases against damage or theft up to $500 per claim ($50,000 per account).
As an online shopping card with Visa Signature benefits, it’s surprising that the Amazon Prime Rewards card doesn’t come with price and return protection too. It’s a bit disappointing that you can’t get your money back if a sketchy seller doesn’t offer returns, but return protection is a rarer perk nowadays.
Visa Signature Luxury Hotel Collection and Concierge Service
The Visa Signature level of the Luxury Hotel Collection grants cardholders seven “VIP Guest status” amenities, including automatic room upgrades when available and other complimentary privileges.
When you need to save time planning your travel or even at home, the free Visa Signature Concierge Service is like a 24-hour personal assistant that can book reservations, tickets and more.
Rates and Fees
The rates and fees for the Amazon Prime Rewards card are standard, but the “no annual fee” comes with an important footnote. You must have an Amazon Prime membership to get the card, which is currently $12.99 per month or $119 each year (if you opt to pay for a whole year at once).
Amazon comes with a range of valuable benefits, but the cost of Amazon Prime just for this card might not be worth it for some shoppers. If a Prime subscription doesn’t make sense for you, the Amazon Rewards Visa Signature Card is an alternative with a slightly lower rewards rate.
Fortunately, the ongoing APR (14.24 percent to 22.24 percent variable) is well below the 23.39 percent average for co-branded retail cards, according to a 2019 CreditCards.com survey.
Another plus is that there are no foreign transaction fees, a perk for frequent travelers.
How the Amazon Prime Rewards Visa Signature compares to other cash back cards
Plenty of other cards are designed to reward online shopping (and beyond just Amazon purchases), but many are limited by quarterly categories or bonus category spending caps.
If you’re looking to rake in rewards on Prime Day deals, the Amazon Prime Rewards Visa Signature isn’t the only card on the market with a high Amazon.com rewards rate. Both the Blue Cash Everyday® Card from American Express and the Blue Cash Preferred® Card from American Express will earn 20 percent cash back on Amazon.com purchases within your first six months of card membership in the form of statement credits (up to $150 back for the Everyday card and up to $200 back for the Preferred). However, the Amazon Prime Rewards Visa Signature is much more rewarding for site purchases beyond the first few months.
|Card||Annual fee||Rewards rate||Welcome bonus|
|Chase Freedom Flex℠||$0||
|Capital One® Walmart Rewards® Card||$0||
|Bank of America® Customized Cash Rewards credit card||$0||
Bank of America® Customized Cash Rewards credit card last updated on 05.03.21
Best cards to pair with the Amazon Prime Rewards Visa Signature
Since the Amazon Prime Rewards card is focused on rewarding Amazon purchases, other general-purpose cash back credit cards are great partners for broader rewards. Flat-rate cards like the Citi® Double Cash Card are solid picks to earn cash back on every purchase you make.
On the other hand, a rotating bonus category card like the Chase Freedom Flex could extend your rewards to other major online retailers when the quarterly bonus categories line up. In the fourth quarter of 2020, for instance, bonus categories include Walmart and PayPal.
Bankrate’s Take—Is the Amazon Prime Rewards Visa Signature worth it?
The Amazon Prime Rewards card is undoubtedly worth it if you frequently order from Amazon — especially if you spend over $2,380 each year on the site or spend big on Amazon Prime Day. (Note, business owners may save even more with the Amazon Business Prime American Express Credit Card‘s extra reward categories.)
With the Prime Rewards card, you can easily reimburse your Prime membership, better protect your purchases and utilize a few travel perks to boot. The unlimited 5 percent rewards easily outperform other credit cards’ online shopping categories.
On the flip side, a general-purpose rewards card may earn you more if you prefer higher rewards rates on more variable bonus categories.
Still, the Amazon Prime Rewards Visa Signature offers better rates and more versatile rewards than many store cards.
All information about the Amazon Prime Rewards Visa Signature Card, Capital One® Walmart Rewards® Card, and Amazon Business Prime American Express Credit Card has been collected independently by Bankrate.com and has not been reviewed or approved by the issuer.