Amazon Visa Card is the first rewards card from Amazon.com that allows anyone that makes regular purchases from the site to earn rewards. This card is issued by Chase. You don’t have to be a Prime member, you also don’t have to wait till you reach a certain threshold before you can redeem. Amazon Visa allows you to redeem your rewards as you earn them without having to reach a minimum threshold, that’s one of the things that makes the Card so appealing.
Instant Sign up Bonus
If you’re approved, a $50 gift card will be loaded onto your card instantly. Most other rewards credit cards with signup bonuses require you to spend a certain amount on the card within the first 90 days or so before you can earn the signup bonus. Then, even after you reach the spending requirement, it can take another 6-8 weeks before the bonus is applied to your account. You can use the Amazon.com sign up bonus instantly.
Earning Rewards With The Amazon Visa Card
If you make a lot of purchases on Amazon.com, this card will make it worth your while. It pays 3 points per dollar on Amazon.com purchases; 2 points per dollar at restaurants, gas stations, and drugstores; and 1 point on all other purchases. You can redeem points directly on Amazon.com purchases or create a Chase.com account and redeem for a statement credit, gift cards, or travel.
Redeeming your rewards toward Amazon.com purchases is simple and straightforward. You can take $1.00 off your purchase for every 100 points. So, if you’ve accumulated 1012 points, you can use $10.12 for an Amazon purchase. The points are automatically deducted from your total price when you check out.
There’s no annual fee for the Amazon Visa Card. The APR for purchases and balance transfers will be 14.49% to 22.49% based on your creditworthiness. The APR varies based on the prime rate. You’ll pay a $5 or 5% fee for balance transfers, but there’s a chance your account may not be eligible for balance transfers. The cash advance and overdraft advance APR is 25.24%, also variable with the market. The cash advance fee is $10 or 5% of the advance, whichever is greater. Transactions made in a foreign currency will be charged a 3% fee.
If you’re late on a payment you’ll be charged $15 if the balance is less than $100; up to $27 if the balance is between $100 and $250; and $37 if the balance is greater than $250. Returned payments are charged a fee of $37. There’s no fee for exceeding your credit limit.
Amazon Visa Card Vs Amazon Prime Card
If you’re trying to choose between the Amazon.com. Rewards Visa Card and the Amazon Prime Store Card, here’s how the two cards stack against each other.
- Firstly, Amazon.com Visa Card can be used. Anywhere while Amazon Prime Card can only be used on Amazon purchases.
- Secondly, Amazon Visa Rewards Card offers a. $50 instant gift card whereas the Amazon Prime Card offers a $10 instant gift card.
- Thirdly, You will get 3% back on Amazon purchases using. Amazon.com Rewards Card and 5% back on Amazon purchases using Amazon Prime Card.
- Fourthly, APRs between 14.49% and 22.49% is charged on the. Amazon Visa while 25.99% is charged on the Amazon Prime Card.
- There is no special financing with the Amazon.com Visa but you can opt for special financing on certain purchases using the Amazon Prime Card.
- Amazon Visa requires no Prime membership whereas Amazon Prime cardholders must pay $99 annually for Prime membership.
- Lastly, both cards charge no annual fees.
Amazon Prime members who make a lot of Amazon.com purchases and always pay their balances in full may prefer the Amazon Prime Store Card. The Amazon.com Visa Card would make a better primary credit card since you can use it at more places and earn rewards on those purchases as well.