Shopping has never been more convenient, especially with the surge of online shopping platforms and payment methods. Millions of people in the United States alone make different types of purchases using the Internet and online services nowadays.
One of the biggest platforms for online shopping is Amazon, whose Amazon Prime membership offers perks such as free shipping. Now, the company makes using the e-commerce service more worthwhile with the help of its very own credit card.
The Amazon Prime Rewards Visa Card is the company’s solution for online shoppers like me who frequently use the e-commerce platform. Interested in what it has to offer? Take a look at the points below to know more.
- Get to Know the Amazon Prime Rewards Visa Signature Card
- Features and Benefits of the Amazon Prime Rewards Visa Signature Card
- How to Apply for the Amazon Prime Rewards Visa Signature Card
- Fees and Rates of the Amazon Prime Rewards Visa Signature Card
- Managing the Amazon Prime Rewards Visa Signature Card
Get to Know the Amazon Prime Rewards Visa Signature Card
As the name suggests, the Amazon Prime Rewards Visa Signature Card is a rewards card powered by Chase Bank that gives back a percentage of the amount spent on a single purchase. It covers a wide variety of categories, which means that I have lots of opportunities to earn back a portion of the money I spent.
This card assigns a percentage per type of purchase. I can earn back that certain fraction of the amount, depending on the type. The spending categories covered by this credit card include dining, gas, and drug stores. It also offers rewards on all purchases.
What makes this card stand out to me is the fact that it offers significant rewards when I purchase from Whole Foods Market and Amazon with a Prime subscription. This subscription also lets me earn more on select products as a limited-time offer.
The card does not charge an annual fee. So, my credit card membership is essentially free. What I just need to do is to watch out for fees and rates, which can be manageable, as long as I know the terms. Other cardholders can find more information about this below.
How It Works
To know how much I can earn back on every spend, I make it a point to familiarize myself with the rates. For purchases from Amazon and Whole Foods, I can get 5% in cashback with an eligible Prime subscription.
This card also lets me earn 2% back when I use my card at restaurants, gas refill stations, and drugstores. I can earn 2% in cashback even if I spend outside of the aforementioned categories.
I can also get 10% or more back for eligible purchases with a Prime subscription. What cardholders should remember is that the company uses a rotating system, so the eligible products can change from time to time.
Features and Benefits of the Amazon Prime Rewards Visa Signature Card
Amazon Prime Rewards Visa Signature Card is designed to make daily transactions and online shopping more worthwhile by letting cardholders earn rewards while spending. While this is the primary advantage of using this credit card, I can tell you that there are more perks to it.
The first is I can take advantage of Visa benefits, aside from those offered by Amazon. This card offers all kinds of coverage to protect consumers. I can travel with minimal worries just by using this card as it includes travel accident insurance, lost luggage reimbursement, baggage delay insurance, and travel and emergency assistance.
Traveling is also made more delightful with the Visa Signature Luxury Hotel Collection of more than 900 establishments worldwide. The Concierge Service also makes Visa Signature more accessible through a 24/7 service that can help me find tickets to anticipated events and worthwhile purchases.
It also has a Zero Fraud Liability feature, as well as an auto rental collision damage waiver, roadside dispatch, extended warranty protection, and purchase protection.
Redeeming Reward Points
I can redeem my points for various purchases at Amazon as long as they are eligible for the program. This allows me to save a few dollars on my purchase.
I can also use my points as cashback without any minimum redemption amount. This can be through my account statement or literal cash through a deposit to a qualified saving or checking account.
How to Apply for the Amazon Prime Rewards Visa Signature Card
Applying for the Amazon Prime Rewards Visa Signature Card is fairly standard and easy. Interested individuals just need to log in to their Amazon account to apply. Keep in mind that the card issuer will be asking for relevant information through an application form.
This is why I always have my details at the ready before applying. Some of the most common info requested by credit card companies include my full name, contact number, address, social security number, income and employment details, and regular expenses.
These details are used by evaluators to determine whether I am capable of handling the repayments and charges that apply whenever I use the card. This is also the reason why issuers look at applicants’ credit scores.
Eligibility and Requirements
Once consumers are ready to apply, they can log in to their Amazon account or create one, then fill out the application form. During this process, you might need to attach required documents such as proof of identity, residence, and income.
Most credit cards require applicants to be at least 18 years old and a resident of the United States. A government ID can be a good choice for this. For the address, a utility bill stating the address will do.
Proof of how you earn income can be in the form of recent payslips or the latest bank statement showing a payroll deposit. A certificate of employment can also be a good document to submit.
Fees and Rates of the Amazon Prime Rewards Visa Signature Card
Taking notes about the various fees and rates that come with a credit card is always a must, as this lets cardholders know what to expect whenever they make any kind of transaction. Some of these charges can be unavoidable, such as transaction fees.
What I want to highlight is that there are charges that users can avoid, such as interest. I always make it a point to pay my outstanding balance before the due date to avoid incurring interest. I also do my best to repay my dues on time to avoid late payment penalties.
Other charges that cardholders can avoid include return payment penalties. Members do not have to pay annual fees and foreign transaction fees. Find out more about rates and charges below.
- Annual Fee – None
- Annual Percentage Rate (APR) for Purchases – 14.49% to 22.49%, variable
- APR for Balance Transfers – 14.49% to 22.49%, variable
- APR for Cash Advances – 24.24%, variable
- Balance Transfer Fees – $5 or 5% of the amount depending on which is higher
- Cash Advance Fee – $10 or 5% of the amount depending on which is higher
- Foreign Transaction Fee – None
- Late Payment Penalty – up to $39
- Return Payment Penalty – up to $39
Reminders About Variable Rates
This card has variable APRs, which can have pros and cons. Variable APRs change depending on the market’s prime rate. This means that if I get the card at a higher rate, I can get an opportunity to get a lower one when the prime rate drops.
However, if I get the card at a good enough rate, there is a chance that my APR will surge if the prime rate spikes.
Managing the Amazon Prime Rewards Visa Signature Card
Given the information above, cardholders can get ready to apply for and use their Amazon Prime Rewards Visa Signature Card. To make sure that cardholders make the most out of their card, it is important to know how to effectively and responsibly manage them.
Paying on time and avoiding spending over the limit is one of the best ways to manage it. Users can keep track of their transactions, dues, and other account information through mobile banking.
This card is powered by Chase Bank so it can be managed using the bank’s mobile application. With the app, users can see how much they have spent, when they need to repay their balance, and other similar info.
Getting in Touch with The Card Issuer
Those who want to know more about what Amazon has to offer to cardholders can call customer service at 1-888-280-4331.
However, Chase Bank may be more equipped to answer questions about the Amazon Prime Rewards Visa Signature Card so I suggest calling the bank at 1-800-935-9935 or writing at Cardmember Service, P.O. Box 15043, Wilmington, DE 19850-5043.
Final Thoughts
The Amazon Prime Rewards Visa Signature Card is one of the best ways to make purchases at Amazon. Those like me who shop at the e-commerce platform and other merchants can take advantage of earning cash back on purchase transactions using this card.
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the bank’s terms and conditions page before agreeing to anything.