The Amazon.com Rewards Visa is a good choice for people who routinely shop on the Amazon website. It also benefits consumers who spend a significant amount of their monthly income on gas, restaurant, and drug store purchases. There is no annual fee for this card which is issued by JPMorgan Chase.
New account holders currently receive a $30 Amazon.com Gift Card upon approval. This gift card will be instantly loaded into your Amazon.com account. There is no expiration date or service fee associated with the gift card.
All percentage back rewards are earned as points and each point is worth one cent (100 points equals $1). Points can be redeemed as a statement credit or used towards Amazon.com purchases, gift cards, or travel. For each $1 of eligible net purchases made at Amazon.com card members receive 3% back. Eligible purchases include:
- Digital downloads
- com Gift Cards
- Amazon Fresh orders
- Amazon Prime subscriptions
- Items sold by third-party merchants though the Amazon.com marketplace
The 3% back offer does not apply to purchases made at:
- Any other website operated by Amazon.com, its affiliates, or subsidiaries
Members receive 2% back for each $1 of eligible net purchases made in the following categories:
|Office supply stores||Drug stores|
All other eligible purchases earn 1% back.
Please note that transactions must be submitted with a qualifying merchant code to earn the appropriate percentage back in rewards. For example, many big-box type retailers such as Costco, Walmart, and Target who sell gasoline products may not qualify as gas stations using the Merchant Code criteria. This may also hold true for drug and pharmacy purchases as well as office supply expenditures.
Net purchases are defined as purchases made on the Amazon.com Rewards Visa minus any credits or returns. Balance transfers, cash advances, or any transactions for traveler’s checks, foreign currency, or money orders do not qualify as purchases.
There is no cap on the amount of percentage back points you may earn. As long as your account remains open and in good standing your points do not expire.
At this time there is no promotional introductory APR offered on either purchases or balance transfers. Your annual percentage rate on purchases will be between 14.24% and 22.24% based on your creditworthiness at the time of approval. This a variable rate based on the Prime Rate. The same APR is applied to balance transfers. There is also a balance transfer fee of $5 or 3% of the transfer amount, whichever is greater. This is a fairly standard fee rate. However, if you want to make a balance transfer from another card to a new one- this might not be the best option. Shop around to find a credit card which offers a 0% introductory APR on balance transfers for new members. Many do and it could add up to significant savings for you.
The Amazon.com Rewards Visa charges card holders a 3% foreign transaction fee on all purchases made outside of the U.S.
The card comes with embedded chip technology for added security.
There is no annual membership fee associated with this card.
Below we have broken down the details of the Amazon.com Rewards Visa to help you decide if it’s a good choice for you.
No annual fee:
Members are not charged an annual fee for this card.
Generous rewards program:
Cardholders earn points at the following rates:
- 3 points per dollar spent on eligible net purchases at Amazon.com
- 2 points per dollar spent on eligible net purchases at gas stations, restaurants, drug stores and office supply retailers
- 1 point on all other eligible net purchases
Simple redemption process:
Members can redeem points for instant savings at Amazon.com checkout. You can see your points balance at checkout and choose how much you want to use, if any. There is no minimum amount of points required to redeem. 100 points equals $1 when redeemed towards eligible purchases at Amazon.com.
Points can also be redeemed for a statement credit, gift cards, or travel.
No cap on points:
There is no limit on the amount of points you can earn.
Points do not expire:
As long as your account remains active and in good standing, your points never expire.
New member gift card:
Upon approval, new cardholders receive a $30 gift card which is instantly loaded into your Amazon.com account. This is such a small amount that it’s hard to consider it a signup bonus.
No introductory APR:
There is currently no introductory APR offered on either purchases or balance transfers. If you want to transfer a high-interest credit card balance to a new card, this is probably not the one to choose.
Foreign transaction fees:
Card members are charged a 3% foreign transaction fee on all purchases made with the card while outside of the U.S. If you often travel internationally, these fees can quickly add up.
Rewards favor big-spenders at Amazon.com:
This card is designed for and rewards people who frequently shop at Amazon.com. There are no 5% rotating categories with the Amazon.com Rewards Visa so the 3%, 2%, and 1% points back categories never change. If a large portion of your budget is spent on gas, restaurants, and drug store purchases, the 2% points back is a decent return. However, if you very rarely shop at Amazon.com and the bulk of your budget goes towards food, clothing, or travel-related purchases, a smarter financial move would be to find a rewards card that is more closely aligned with your spending habits.
Eligible purchase restrictions:
To receive the appropriate percentage back points (3%, 2% or 1%), all transactions must be submitted by retailers using the proper Merchant Code. For example, wholesale businesses such as Sam’s Club or Costco may not qualify as a gas station or drug store (pharmacy) when earning points back rewards. Additionally, big-box retailers such as Target and Walmart may not qualify for certain rewards categories.