There are few retailers that can compete with Amazon today, and if the number of blue Prime vans that drive past my house daily is any indicator, the company continues to grow and expand. But Amazon doesn’t have to be the only one rewarded. Show
The Amazon Prime Rewards Visa Signature Card offers extended rewards earning at Amazon.com and Whole Foods Market, along with valuable rewards in other spending categories. And although this card has a $0 annual fee, it does come with a cost you might not expect. In this Amazon Prime Rewards Visa Signature Card review, we’ll discuss who should get this card, what it offers, and whether it deserves a spot in your wallet. Who should get the Amazon Prime Rewards Visa Signature Card?The Amazon Prime Rewards Visa Signature Card is best for loyal Amazon customers. Cardmembers earn 5% cash back at Amazon.com and Whole Foods Market; 2% at restaurants, gas stations, and drugstores; 1% on all other purchases. Although it doesn’t come with an annual fee, you need an Amazon Prime membership to qualify for this credit card. If you aren’t an Amazon Prime member, you’ll need to look at other rewards card options or sign up for a Prime membership. Of course, earning a higher rewards rate isn’t the only perk of Amazon Prime. A membership gives you access to free Prime delivery services, Amazon Video, and other free and discounted Amazon services. Although it's one of the best credit cards for shopping on Amazon, it’s not for everyone. If you prefer to shop elsewhere or don’t make enough Amazon purchases to justify having the co-branded card, other cashback credit cards may offer better earning potential over time. Some cashback credit cards also come with introductory APR offers for purchases and balance transfers. However, the Amazon Prime Rewards Visa Signature Card is not one of those cards. Other credit cards are better suited for balance transfers and large purchases. Card basics
Amazon Prime Rewards Visa Signature Card benefits and perks
Drawbacks to the Amazon Prime Rewards Visa Signature Card
Earning and redeeming Amazon rewardsPotential earnings in years one and twoHere's a look at how your Amazon rewards can add up with the Amazon Prime Rewards Visa Signature Card. Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend. Year one earnings: $612 in Amazon rewards Year two earnings: $512 in Amazon rewards These values are based on the FinanceBuzz Credit Card Rewards Valuation Model, which takes a look at points earned via spending, the sign-up bonus, and the annual fee. You could potentially get more value from this card if you do all your grocery shopping at Whole Foods. However, if you factor in the cost of a Prime Membership, year one and two earnings drop to $493 and $303, respectively. Best ways to earnIf you spend a lot on Amazon purchases, you're in luck. That’s precisely where the Amazon Prime Rewards Visa Signature Card shines. Cardmembers earn unlimited 5% back at Amazon.com and Whole Foods Market with an eligible Amazon Prime membership. Of course, purchases at Amazon.com and Whole Foods Market aren’t the only ones that earn rewards with this credit card. You’ll also earn 2% back on purchases at restaurants, gas stations, and drugstores and 1% back on all other purchases. The earning potential is comparable with other no-fee rewards cards. There are few items Amazon and Whole Foods don’t sell. Combined with earning in other popular categories, it's hard to think of a purchase that wouldn’t earn rewards with the Amazon Prime Rewards Visa Signature Card.
Maximizing your redemptionsWith this card, you earn rewards points redeemable toward eligible Amazon purchases. You can use points as with any other payment method on Amazon.com. Just choose your Amazon Rewards Visa Signature Card as your payment method and select how many points you want to use toward your purchase. Using your points is an easy way to save money on Amazon purchases. Amazon rewards points are worth 1 cent apiece. You can redeem rewards points outside of Amazon too. Other redemption options include:
If you’re a frequent Amazon and Whole Foods shopper with a Prime membership, there isn’t a better credit card for earning rewards for
your purchases with the retail giant. Throw in rewards in popular spending categories, and you have a no-fee credit card that earns on just about every purchase imaginable. You’ll likely need an excellent credit score to qualify for the Amazon Prime Rewards Visa Signature Card. An excellent FICO score is a score of 800 or higher. If your score is lower than 800, work to improve your credit score before applying or consider a different rewards credit card. Unfortunately, no Amazon credit card comes with a free Amazon Prime membership. You’ll need to pay the $119 membership fee to gain access to the popular Amazon program. Student Prime memberships are $59. There’s also an option to pay a monthly fee of $12.99.
Rewards earning rates drop considerably if you use your Amazon Prime Rewards credit card after canceling Amazon Prime. Instead of earning 5% back on Amazon.com and Whole Foods Market purchases, you’ll earn only 3% cash back. The Amazon Prime Rewards Visa Signature Card has a $0 annual fee, but does require an
eligible Amazon Prime membership as a condition for card approval. An Amazon Prime membership currently costs $119 annually or $12.99 a month. Student Prime memberships are $59 annually. Other cards to considerIf you don’t have an Amazon Prime membership, you can still earn rewards for Amazon and Whole Foods Market purchases with the Amazon Rewards Visa Signature Card. It doesn’t offer the same rewards seen with the Amazon Prime Rewards card offers, but you also don’t need to spend $119 on a Prime membership. It offers 3% cash back at Amazon.com and Whole Foods Market; 2% at restaurants, gas stations, and drugstores; and 1% on all other purchases. Plus, you’ll automatically earn a $60 amazon gift card upon approval of credit card application, and it has a $0 annual fee. If you’d rather earn cash back at a flat rate for all purchases, opt for Citi® Double Cash Card - 18 month BT offer. You’ll earn up to 2% cash back on all purchases: 1% as you buy and 1% as you pay for those purchases. There’s no need to track spending categories with Citi Double Cash, and it has a $0 annual fee. It’s simply one of the best cashback credit cards on the market today. Author Details
 Kevin Payne Kevin Payne is a freelance writer specializing in student loans, credit cards, personal finance, and travel. He is a regular contributor to Club Thrifty, Millennial Money, and Student Loan Planner. As the budget and family travel expert behind FamilyMoneyAdventure.com, Kevin recently turned his writing side hustle into his full-time career. He lives in Cleveland, Ohio, with his wife and four kids. Does canceling a credit card hurt your credit?A credit card can be canceled without harming your credit score. To avoid damage to your credit score, paying down credit card balances first (not just the one you're canceling) is key. Closing a charge card won't affect your credit history (history is a factor in your overall credit score).
How do I cancel my Amazon credit card app?If you want to cancel the Amazon.com Store Card application, call (866) 634-8379, instead.
Does Amazon Prime Rewards Visa Signature card have an annual fee?The Amazon Prime Rewards card doesn't charge an annual fee, but you'll have to pay up for an eligible Amazon Prime membership to earn the full 5 percent back for Amazon.com and Whole Foods Market purchases if you don't already have one (otherwise, you only get 3 percent back).
How do I close my Amazon card account?You can cancel your Amazon.com Store Card online or by phone at (866) 634-8379. To cancel your Amazon.com Store Card online, log in to your account and go to the “Services” tab. From there, click on “Close Account” and confirm.
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How to cancel amazon prime rewards visa signature card
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