If you shop Amazon regularly, chances are you want a credit card that provides significant rewards with both Amazon purchases and other everyday expenses. WalletHub editors reviewed four cards that meet this criteria.
Which card is right for you depends on various considerations, including your membership of Amazon Prime and how you prefer to redeem rewards points.
1. Amazon Prime Rewards Visa Card
Amazon shoppers looking to maximize rewards and peace of mind can turn to its co-branded Visa card, the Amazon Prime Rewards Visa Card (formerly known as Amazon Rewards Visa Signature). With no annual fee and up to 5% cash back on Amazon and Whole Foods purchases as well as 2% back at restaurants, gas stations and drugstores as well as no foreign transaction fees and travel protection features such as lost luggage reimbursement – this card provides everything needed for success when it comes to rewards!
This card also comes with an impressive sign-up bonus of an Amazon gift card worth up to $100 upon approval – far surpassing typical retail credit card sign-up bonuses, and enough to cover most of the annual membership cost of Amazon Prime membership.
Also, since this card reports to major credit bureaus, it may be an effective tool for building your score. However, keep in mind that card balances and other factors such as length of history can have more of an effect than how many cards are open at any one time; so when applying for any card it is wise to consider your overall financial picture such as available credit and average debt per card when making this decision.
Chase offers existing Amazon Prime members of Chase the Amazon Prime Rewards Visa Card as an added incentive, providing a complimentary one-year extension of manufacturer warranties on items purchased with it. This benefit makes frequent shopping at Amazon a worthwhile endeavor; especially those needing to return or exchange items frequently.
Even without an existing Amazon Prime membership, this card remains an attractive choice; offering similar rewards such as 3% cash back for purchases made on Amazon and Whole Foods purchases and 2% back for dining, gas stations, drugstores and drugstore purchases. Furthermore, there are no foreign transaction fees and some travel protection features like car rental collision damage waiver and lost luggage reimbursement coverage.
2. Amazon Store Card
if you have good credit but do not wish to pay for Prime membership, the standard Amazon Store Card could be the perfect solution. Offering various payment and financing options that enable guilt-free shopping while earning rewards points – this card makes shopping at Amazon much simpler!
This card also does not charge an annual fee and does not impose balance transfer fees or cash advance charges, though there may be late fees of up to $40; you can opt to make minimum monthly payments or set automatic payments to ensure you never miss your due dates.
Not only can Prime members earn 5% cash back on Amazon purchases with this card, but there are also special financing options. Typically deferred interest plans allow you to make equal payments over six to 24 months to avoid interest charges and remain debt free. It is important to remember however, if the full balance remains outstanding by the end of this special financing period then interest charges may be retroactively assessed on it all.
Get cash back with Amazon Rewards points that you can redeemed for gift cards, merchandise, travel and more – plus additional perks from partner airlines when you transfer them! For maximum efficiency with Amazon credit cards use often and earn more points!
Though it carries relatively higher fees and interest rates compared to other credit cards, the Amazon Store Card remains an ideal solution for frequent Amazon shoppers who wish to maximize rewards while taking advantage of special financing offers. Just be sure to pay your balance on time each month and stay under your spending maximum limit!
Before proceeding with the online application for an Amazon Gift Card, you will be asked to sign in using your Amazon account. If approved, a message will inform you how to activate and manage your card – this allows you to also track its status by signing into your Amazon account.
3. Amazon Prime Rewards Credit Card
If you frequently shop Amazon, the Prime Rewards card may be the right solution for you. Offering 5% cash back rates on most purchases as well as extra benefits such as free Prime shipping and Prime Day discounts plus an initial $150 gift card when approved – though this card may not suit every consumer so it is essential that they fully comprehend all its details before applying.
This card stands out from others by offering an unlimited 5% return on Amazon purchases with no spending caps, making it ideal for Amazon enthusiasts but perhaps not the most suitable card for people who do not frequently shop there or already possess credit cards with higher earning rates for other categories.
Earn 2% cash back at restaurants, gas stations and local transit/commuting expenses with this card – ideal if you spend over approximately $1,500 in these categories monthly! Plus it has an introductory 0% APR offer of six or 12 months on new purchases!
One drawback to the card is its exclusive availability to Prime members who pay $119 annually for membership. Even without this membership, however, non-Prime versions of the card may still apply and offer you up to 3% cash back on Amazon and Whole Foods purchases plus other perks.
If you plan to travel frequently, it may make more sense to opt for a credit card with travel rewards and no annual fee – such as Amazon purchases – which earn you points or miles that can cover flights and hotel stays with no annual fee attached. American Express’ Blue Cash Preferred card may be suitable as it provides 6% cash back at supermarkets, 3% at select gas stations and 1% across other spending categories.
4. Amazon Secured Credit Card
The Amazon Secured Credit Card is an excellent option for consumers who are trying to establish or rebuild their credit. It reports account activity to all three major consumer credit bureaus and can help individuals improve their score with responsible use. However, this card should not be used as a means of accruing rewards or spending beyond one’s means; to maintain minimum debt utilization it is vital that payments are made timely with balances under 30 percent of one’s available limit.
This card provides several benefits that may be useful to some consumers, including purchase protections and access to special financing options. Furthermore, there is a signup bonus offered with it – however there may be better rewards and perks offered elsewhere by Amazon cards.
Amazon and Synchrony’s announcement is making headlines, but secured credit cards have long been offered by various financial institutions. NerdWallet publishes its recommended secured cards each week; many of them belong to payment networks like Visa, Mastercard and Discover while still charging low or no annual fees.
Amazon Secured Credit Cards offer consumers a range of benefits and the potential to earn cash back on purchases, while also helping to build or rebuild their credit histories. Credit reporting agencies use credit card accounts as a measure of an individual’s financial standing and lend accordingly; responsible use can help build their scores and access other forms of loans more readily.
To maximize the use of an Amazon credit card, it’s crucial to strike a balance between using it for rewards and building credit. This can be accomplished by understanding its benefits, managing credit utilization, and creating a budget which takes into account both rewards and financial restrictions associated with using one. By following these tips, you can enjoy all the perks while maintaining good credit standing.