Amazon Rewards Visa Signature Card snapshot
For avid Amazon.com shoppers, the Amazon Rewards Visa Signature Card from Chase Bank is like a dream come true, since you earn 3% Back at Amazon.com and Whole Foods Market. But to call it the “Amazon” Visa might actually be pigeonholing it a bit, since the Chase Bank-issued credit card still pays generously on many other regular day-to-day purchases, online and off. Earn 2% Back at restaurants, gas stations and drugstores. Earn 1% Back on all other purchases.
We especially love the Amazon Rewards Visa Signature Card because of the $0 annual fee, an Amazon.com gift card bonus which will be loaded onto your Amazon.com account upon the approval of your credit card account application, and some other nifty perks worth checking out for a card that rewards you each time you’re at the checkout page. Even for the occasional Amazon customer, these can prove big sells. Keep reading to see if it’s something that deserves a place in your wallet.[Visit our credit card page to see credit cards from our partners that may interest you.]
Amazon Rewards Visa Signature Card highlights
|Rewards overview:||- Earn 3% Back at Amazon.com and Whole Foods Market.
- Earn 2% Back at restaurants, gas stations and drugstores.
- Earn 1% Back on all other purchases.
|Fees:||- No annual fee
- No foreign transaction fees
- Balance transfer fees, cash advance fees and other fees apply
|Bonus offer:||An Amazon.com gift card bonus which is instantly loaded into your Amazon.com account upon the approval of your credit card application. (Limited time offer)|
|Redemption options:||- Cash back
- Gift cards
|Pros:||- Ideal for the frequent Amazon.com shopper
- Credit card doubles as a reliable rewards card for everyday purchases
|Cons:||- Not the best card for infrequent Amazon shoppers
|Additional Notes:||Terms and conditions apply|
Amazon Rewards Visa Signature Card basics
The best thing about the Amazon Rewards Visa Signature Card is the opportunity to earn back a percentage of your purchases. Shop at Amazon.com and Whole Foods Market to earn 3% Back on your purchases; earn 2% Back when you use the card at gas stations, restaurants and drugstores; earn 1% Back for all other eligible purchases (balance transfers, cash advances, other cash equivalents and fees are a few examples of transactions that are not eligible to earn rewards).
Akin to an Amazon.com gift card, reward redemption is at your convenience. For Amazon.com mavens, the 3% Back is ideal, even if you never use the card anywhere else; for example, if you spend $10,000 on Amazon.com throughout the year, you can earn $300 in rewards for those purchases alone.
Other rewards cards may out-earn the Amazon Rewards Visa Signature Card in some regard, but with the Amazon Rewards Visa Signature Card there are opportunities to earn higher rewards in selected categories.
What about fees and Annual Percentage Rate (APRs)? Thankfully, this card has no annual fee, and no foreign transaction fee. The Amazon Rewards Visa Signature Card does allow balance transfers and cash advances There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater. And a cash advance fee of either $10 or 5% of the amount of each transaction, whichever is greater. Your interest rate will be based on your creditworthiness.
As for making your Amazon Rewards Visa Signature Card payment, once you’re approved for the card, you’ll be able to manage your account online through the Chase website. You’ll need to create a unique login to get started (if you don’t already have a Chase login), and then you can use the online system to check your account balance, add authorized users, set up account alerts and make payments.
Automatic payments can be made on a one-time or recurring basis. Automatic payments can be an advantage if you’re worried about missing your payment due date, which a missed payment can damage your credit score. Payments can also be accepted over the phone if you’re not able to pay online.
How do the Amazon Rewards Visa Signature Card’s rewards stack up?
One of the things that might benefit card holders the most about the 3% Back is that it applies for most purchases across the site, there may be some restrictions on your Amazon.com purchases.
The easiest way to use your Amazon Rewards Visa Signature Card rewards is to apply them at checkout when you shop at Amazon.com. The bonus Amazon.com gift card can be applied the same way. You also have the option to turn your rewards into gift cards, cash back or credit towards travel at Chase.com.
Purchases outside Amazon.com earn 1% or 2% Back. While the lower rewards are a bit less lucrative than Amazon.com rewards, the card more than makes up for it, since you’ll get 2% Back when you use the card for purchases made at gas stations, drugstores or dining at restaurants, and 1% Back on all other purchases.
Use the card exclusively in the 3% and 2% Back categories, and your rewards portfolio can add up nicely and quickly. If you have an eligible Prime membership, you can upgrade your Amazon Rewards Visa Signature Card to earn 5% Back on Amazon.com purchases.
Amazon Rewards Visa Signature Card pros
It’s an Amazon.com customer’s dream credit card
Simply put, if you shop on Amazon.com frequently, you’d be remiss not acquiring this card for the money savings and rewards it imparts. The 3% Back at Amazon.com transactions is the big selling point here, as those points can add up quickly, essentially translating into rewards for future purchases.
It’s a versatile card
Sometimes, comparing rewards cards are a matter of perspective. For instance consider that the Amazon card offers more opportunity to earn higher rewards, in addition, with the Amazon card if you have an eligible Prime membership, you can upgrade your Amazon Rewards Visa Signature Card to earn 5% Back on Amazon.com purchases.
Amazon Rewards Visa Signature Card cons
APRs, lack of other incentives
Some critics bemoan the fact that the Amazon Rewards Visa Signature Card doesn’t come with an introductory zero percent Annual Percentage Rate (APR) to accommodate transactions like balance transfers or big-ticket purchases (even if it’s from Amazon.com). You can still make cash advances and balance transfers with the card, but the APRs for those are on the steep side. You’d be better invested in a card devoted to paying off debt instead of the retail-centric Amazon card, if you’re looking for a card with an introductory zero percent Annual Percentage Rate (APR) on purchases and/or on balance transfers.
Amazon Rewards Visa Signature Card review: Should you get this card?
What’s the final verdict on the Amazon Rewards Visa Signature Card? Most of us have had the experience of giving and receiving Amazon.com gift cards, but to have a credit card dedicated to one particular site can mean good things for your finances (and credit) if you shop there regularly.
Compared to other rewards credit cards, the Amazon Rewards Visa Signature Card has some nice perks, starting with the absence of an annual fee. While you won’t get a big bonus right off the bat like you might with some of Chase’s other card offerings, the Amazon.com gift card bonus is a good reason to sign up if you want to save on a future Amazon shopping trip.
The rewards tier structure is where the card’s true benefits are found. If you find yourself a year-round Amazon shopper, 3% Back is a mighty impressive return, although keep in mind the card may impose some restrictions on what you can buy on Amazon.com.
While the 2% Back you can get on purchases made at drugstores, gas stations and restaurants is generous, other cards may pay out more rewards for these kinds of purchases. Another card in your arsenal may serve you better in these cases; analyzing your spending patterns can give you an idea of how much you stand to earn in rewards with the Amazon Rewards Visa Signature Card each year and how it compares to other rewards cards. Until then, we recommend having the Amazon Rewards Visa Signature Card on hand – but remember, spend responsibly.
Terms and conditions apply.
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