Review of Amazon Prime Rewards Visa Signature

Amazon Prime Rewards Visa Signature

Having an Amazon Prime membership is a pre-requisite for getting an Amazon Prime Rewards Visa Signature Card, but if you are a frequent shopper at one of the largest online stores, then there is absolutely no reason why you shouldn’t be using this no-annual-fee Signature credit card. Besides, Amazon issues this card in co-branding with Chase which would get you its benefits.

Just do not confuse this card with the Amazon Prime Store Credit Card as that is entirely different.

Terms & Fees

• Annual Fee: $0
• Purchase APR: 14.99%
• Cash Advance APR: 25.74%
• Cash Advance Fee: 5% for Minimum $10
• Foreign Transaction Fee: $0
• Balance APR: 14.99%
• Balance Transfer Fee: 5% for Minimum $5
• Late Fee: Up to $37
• Return Payment Fee: Up to $37

Quick Facts

• A well structured and designed metal body
• There is a variable regular purchase APR which currently lies between 14.99% and 22.99%
• The levying of the purchase APR will depend on your creditworthiness and history
• You can use this card anywhere a Visa card is accepted, which is almost everywhere
• You receive an eligible Prime membership
• Credit card approval comes with an instant value of $70 Amazon.com Gift Card
• No foreign transaction fees

Earning the Rewards

• You will receive 5% cash back on all the purchases made on Amazon.com including the annual prime membership fee that you will require to sustain to keep this credit card active
• You will be getting 2% cash back on all the gas stations, drug store, and dine-in restaurants
• You will earn 1% cash back on all the other purchases made using the card
• You will be getting an Amazon Gift Card of amount $70 immediately on the approval of your Amazon Prime Visa Signature Credit Card

Redeeming the Rewards

There are multiple ways through which you can redeem the cash back rewards earned in your credit card, including:

Amazon.com: You can use your reward points while checking out at the Amazon.com. Once you reach the payment page on the website, you will see the option using which you can use the reward point balance in making payments for your purchases made at the website. It will be a good deal if you make most of your purchases from the global portal only.
Direct Deposit to Bank Account or Statement Credit: You can check your reward point balance on the Chase website and can redeem the same to either transfer to your bank account or as a statement credit (the same amount will be deducted from your credit card account) by following a few simple steps. This gives you the flexibility to use the amount as and wherever you want. However, you need to have at least 2,000 reward points in your account to redeem them this way.
Gift Cards: You can redeem your reward points for purchases the gift cards from various merchants, the list of which is available on the Chase rewards portal for the credit cards. Since there are different return rates offered by different merchants, you can choose the best that would benefit you and will aid your future purchases.

Benefits to Card Holders

In addition to the excellent discounts and rewards, the card also offers a variety of perks and benefits to its holder. Some of the most essentials benefits include:

• Access to Prime Video with millions of movies and shows
• Free shipping on a wide range of products through prime membership
• Millions of albums and favorite songs available free for streaming
• Unlimited storage of pictures and valuable photographs
• Free accessibility to kindle ebooks
• Free streaming for millions of songs and albums
• Free Kindle e-books
• Unlimited photo storage

Verdict

There cannot be a credit card better than this if you are a frequent shopper at Amazon.com as it will help you grab some fantastic deals and cash backs on all your purchases throughout the year. Since there is no limit to the maximum amount of purchases, you will be getting 5% cash back every time, which is an excellent deal even if we consider the prime membership fee that you will be paying annually to retain this card.