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Amazon Prime Rewards Visa Signature Card Review

Amazon Prime Rewards Visa Signature Card Review

*Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Aug 12, 2019, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

The information related to the Amazon Prime Rewards Visa Signature Card and Chase Freedom® has been collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to Chase credit card offers. See chase.com for more information.

For Amazon Prime members, the Amazon Prime Rewards Visa Signature Card offers rewards with a lot of value. This credit card earns 5% back at Amazon.com and Whole Foods Market, 2% back at restaurants, gas stations and drugstores, 1% back on all other purchases.

One of the best things about earning rewards with this card issued by Chase — besides the generous rate — is that there’s no limit to how much you can earn. There are cashback cards offering competitive rates on various spending categories, but there is often a cap before the cash back drops to a lower rate.

So should you apply for the Amazon Prime Rewards Visa Signature Card to maximize your credit card rewards? Read this review first, where we’ll examine the card’s value, potential competitors and more.

In this review:

Where the Amazon Prime Rewards Visa Signature Card stands out

Great rewards rate. Earn 5% back at Amazon.com and Whole Foods Market, 2% back at restaurants, gas stations and drugstores, 1% back on all other purchases. There’s no limit to how much you can earn. Other cards such as the Chase Freedom® and the Discover it® Cash Back have quarterly maximums on the 5% rate. After that, your rate drops until it’s time for a new category.

Read Chase Freedom vs. Discover It — Which Is the Best 5% Cashback Credit Card?

Cash back comes as rewards points, with 1 point being worth 1 cent. You can redeem rewards toward Amazon purchases with no minimum amount required for redemption. Or you can redeem your rewards for cash — starting at 2,000 points, which is equal to $20 — as a statement credit or a bank account deposit.

Keep in mind that to be eligible for this card and its rewards, you have to be an Amazon Prime member. If you’re not, then you can apply for the Amazon Rewards Visa Signature Card, but its rewards are not as robust: 3% back at Amazon.com and Whole Foods Market, 2% back at restaurants, gas stations and drugstores, 1% back on all other purchases.

No annual fee. The annual fee for this card is $0, which is a huge win when paired with its generous rewards. Of course, it does require an Amazon Prime membership, which costs $119 a year, or $59 a year if you’re a college student. (There are monthly subscription options if you prefer that, but they add up to cost more over the course of a year than the annual options.)

How much do you need to spend to recoup the cost of Prime? As long as you’re earning 5% cash back, spending $2,380 will earn you $119 in rewards. To recoup the lower cost of Prime Student, spending $1,180 on eligible purchases will get you there.

No foreign transaction fee. If you want a card you can use while traveling abroad without being charged a foreign transaction fee, you can have peace of mind knowing this one charges None.

Sign-up bonus. You will get a $70 Amazon.com Gift Card instantly upon credit card approval.

Additional benefits

Perks. This card comes with a long list of perks, including:

  • Travel accident insurance
  • Lost luggage reimbursement
  • Baggage delay insurance
  • Travel and emergency assistance
  • Zero fraud liability
  • Auto rental collision damage waiver
  • Roadside dispatch
  • Extended warranty protection
  • Purchase protection
  • Visa Signature® Luxury Hotel Collection
  • Visa Signature® Concierge Service

Read Credit Cards With Travel Insurance

Can be used anywhere Visa is accepted. Unlike the Amazon Prime Store Card and the Amazon Prime Store Card Credit Builder — both of which offer Amazon Prime members a great rewards rate but can only be used for Amazon purchases — you can use this card anywhere that accepts Visa credit cards.

Where the Amazon Prime Rewards Visa Signature Card falls short

If we have one issue with this card, it’s that you have to have an Amazon Prime membership. Even though the card has a $0 annual fee, you have to be ready to commit $119 a year for Amazon Prime (or $59 if you qualify for Prime Student).

If you’re already an Amazon Prime member, this might not be an issue for you. The Amazon Prime Rewards Visa Signature Card offers a chance to earn a great value on something for which you’re already paying money. If you don’t have an Amazon Prime membership, you might do the math on whether signing up for Prime makes sense or if you’d be better off with a 5% cashback card such as the Discover it® Cash Back.

  • Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically*

  • Earn 5% cash back at different places each quarter up to the quarterly maximum, when you activate*

  • Any amount, any time. Cash back rewards never expire*

Highlights
  • INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • No annual fee.
  • See Rates & Fees

See additional details for Discover it® Cash Back

More Info

Compare the Amazon Prime Rewards Visa Signature Card with the Bank of America® Cash Rewards credit card

If you’re not an Amazon Prime member and you want a no annual fee card that offers flexible cashback categories, the Bank of America® Cash Rewards credit card could be a good fit for your needs.

Amazon Prime Rewards Visa Signature Card Bank of America® Cash Rewards credit card
Annual fee $0 $0
Regular purchase APR 16.49%-24.49% variable 16.24% - 26.24% Variable APR
Rewards 5% back at Amazon.com and Whole Foods Market, 2% back at restaurants, gas stations and drugstores, 1% back on all other purchases 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, 1% on all other purchases
Sign-up Bonus $70 Amazon.com Gift Card instantly upon credit card approval Up to $250 Cash Rewards Bonus Offer
Foreign transaction fee None 3%

Getting to choose your 3% rewards category is a big benefit of the Bank of America® Cash Rewards credit card. Categories include gas, online shopping, dining, travel, drugstores and or home improvement/furnishings. If you don’t do a bulk of your shopping at Amazon or Whole Foods Market, you might net more rewards using this card than the Amazon Prime Rewards Visa Signature Card.

You’ve also got the opportunity to earn anywhere from 25% to 75% more cash back if you’re a Preferred Rewards client with Bank of America. There are three tiers in the Preferred Rewards program, and the lowest tier requires a three-month average of at least $20,000 in qualifying combined balances in your Bank of America banking and/or Merrill investment accounts.

That said, if you’re a heavy spender at Amazon and Whole Foods, the 5% rewards rate of the Amazon Prime Rewards Visa Signature Card might make it worth your while. Also, this card’s extensive list of perks might make it worthwhile if you travel frequently.

  • 0% Introductory APR on purchases for 15 billing cycles

  • 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days

  • 16.24% - 26.24% Variable APR on purchases and balance transfers

Highlights
  • No annual fee
  • $150 cash rewards bonus after you make at least $500 in purchases in the first 90 days of account opening.  Plus, get a $100 cash rewards bonus if you make a total of at least $7,500 in purchases within the first year.
  • Earn 3% cash back on gas or your choice of one of five other popular categories, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% - 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
  • No expiration on rewards
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase

See additional details for Bank of America® Cash Rewards credit card

More Info

The bottom line

If you’re not an Amazon Prime member and you don’t spend a lot at Amazon and Whole Foods, you might balk at signing up for Prime with its $119 annual fee. In that case, you might be better off considering cards such as the Bank of America® Cash Rewards credit card (for flexible cash back) or the Discover it® Cash Back (for 5% cash back in rotating quarterly categories).

However, for anyone who has an Amazon Prime membership and spends a sizable portion of their budget at Amazon and Whole Foods, there’s a lot to love about the Amazon Prime Rewards Visa Signature Card. It’s a versatile card that can provide a lot of value.

If these cards don’t fit your needs, take a look at some other options on our list of best cashback credit cards.


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