Amazon Rewards Visa Signature Card Review: Key Benefits Explained

Amazon offers an appealing credit card option for its dedicated shoppers, called the Amazon Rewards Visa Signature Card. This card is designed to benefit users who shop frequently at Amazon.com and Whole Foods Market, providing a variety of rewards and cash back incentives.

One of the key features of this card is its eligibility for Amazon Prime members, which allows them to earn an impressive 5% cash back on their Amazon and Whole Foods purchases. For non-Prime members, the cash back rate is still an attractive 3% on Amazon and Whole Foods expenditures. The card also offers compelling bonuses, such as a generous welcome offer and additional cash back on other purchases, making it an attractive option for online shoppers and regular customers of these popular retailers.

Key Features

The Amazon Rewards Visa Signature Card offers several important features that make it a popular choice for regular Amazon customers. One of the standout features is the generous reward rates offered to cardholders.

Users can earn:

3% back on Amazon purchases (5% back for Amazon Prime members)
2% back on purchases at restaurants, gas stations, and drugstores
1% back on all other purchases

Additionally, the card comes with no annual fee and no foreign transaction fees, which makes it a cost-effective option for those who shop on Amazon frequently or travel internationally.

The Amazon Prime Rewards Visa Signature Card also provides cardholders with a few extra benefits, such as:

Visa Signature Concierge service, offering assistance with travel, dining, and entertainment reservations
Travel protection, including baggage delay insurance, travel accident insurance, and rental car insurance
Purchase protection, which covers eligible items against damage or theft for a limited time

All of these features combined make the Amazon Rewards Visa Signature Card an attractive option for consumers who want to maximize rewards on their Amazon purchases, as well as enjoy a range of additional benefits.

Rewards Program

The Amazon Rewards Visa Signature Card offers a competitive rewards program for frequent Amazon.com and Whole Foods Market shoppers. Cardholders can earn 5% cash back on purchases made at Amazon.com and Whole Foods Market with an eligible Prime membership.

In addition to the rewards earned at Amazon.com and Whole Foods Market, this card also provides cash back on purchases made in other categories. Cardholders can earn:

2% cash back at restaurants, gas stations, and drugstores
1% cash back on all other purchases

The rewards earned with this card can be easily redeemed for future Amazon.com purchases, statement credits, or gift cards. Moreover, there is no cap on the amount of rewards you can earn, and your rewards do not expire as long as your account remains open.

Fees and APR

The Amazon Rewards Visa Signature Card has an annual fee of $0, which makes it an attractive option for those who shop frequently at Amazon and Whole Foods. However, it’s essential to note that cardholders must have an Amazon Prime membership, which currently costs $119 per year, to enjoy the full benefits of this card.

The regular APR for this credit card varies between 18.74% and 26.74%, depending on the applicant’s creditworthiness. This variable APR applies to both purchases and balance transfers. It’s crucial to maintain a good credit score to enjoy a lower APR and avoid high-interest charges on outstanding balances.

When it comes to other fees, the Amazon Prime Rewards Visa Signature Card aligns with industry standards. For instance:

Balance transfer fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
Cash advance fee: Either $10 or 5% of the amount of each transaction, whichever is greater.
Foreign transaction fee: None, making it a suitable option for international purchases.
Penalty fees: Late payment fees can be up to $40, and returned payment fees can be up to $29.

While this card offers competitive rewards and benefits, it’s essential to consider the fees and APR rates and ensure you can manage them responsibly. Keep track of your expenses, pay off your balance in full each month, and avoid late payments to get the most value from the Amazon Prime Rewards Visa Signature Card.

Pros and Cons

The Amazon Rewards Visa Signature Card offers several benefits and drawbacks that potential cardholders should keep in mind before applying.

Pros:

Competitive rewards rates – The card offers up to 5% cash back on Amazon and Whole Foods purchases for eligible Amazon Prime members.
No annual fee – The Amazon Rewards Visa Signature Card does not charge an annual fee, making it a budget-friendly choice for cardholders.
Visa Signature benefits – The card comes with valuable Visa Signature perks, including travel benefits and purchase protections.

Cons:

Amazon Prime membership required – To earn the highest rewards rates, you must be an Amazon Prime member, which currently costs $139 per year.
No introductory 0% APR – Unlike some other credit cards, the Amazon Rewards Visa Signature Card does not offer an introductory 0% APR period for balance transfers or purchases.
Limited rewards redemption – Cardholders can primarily redeem their rewards for Amazon purchases, which may not be ideal for those seeking more versatile redemption options.

How to Apply

To apply for the Amazon Rewards Visa Signature Card, first make sure you meet the basic eligibility requirements. You must be at least 18 years old, have a valid Social Security Number, and a good credit score (generally 670 or higher).

Navigate to the Amazon Rewards Visa Signature Card page on Amazon’s website or access the application page via the Chase Bank website, as the card is issued by Chase.

Once on the application page, you will be prompted to provide your personal information, including your full name, date of birth, address, phone number, and email address. You will also need to input your employment information, annual income, and housing information.

After providing all the necessary information, you will be asked to review and agree to the terms and conditions of the card. Please, read the terms carefully before submitting your application. Once you submit your application, you can expect a response within a few minutes to a few business days, depending on the amount of verification required by the issuer.

If approved, you will receive your card in the mail within 7-10 business days, along with your credit limit and card details. The card can then be activated and registered on the Chase website to start earning rewards on your purchases.

Comparison to Other Cards

When comparing the Amazon Rewards Visa Signature Card to other cards in the market, it’s essential to look at the rewards and benefits offered by each.

The Amazon Store Card is considered the closest alternative to the Amazon Rewards Visa Signature Card. However, the former can only be used at Amazon.com, whereas the Amazon Rewards Visa Signature Card is an open-loop card, accepted anywhere Visa is accepted. The Amazon Rewards Visa Signature Card offers 3% cash back at Amazon.com and Whole Foods Market, 2% at restaurants, gas stations, and drugstores, and 1% on all other purchases. On the other hand, the Amazon Store Card offers 5% cash back on Amazon.com purchases but does not provide any rewards for spending made outside of Amazon.

Other popular cash back cards, like the Chase Freedom Unlimited, offer competitive rewards rates. The Chase Freedom Unlimited provides a 1.5% cash back rate on all purchases and does not have any specific categories with higher rewards. This makes it less rewarding for heavy Amazon shoppers but potentially more flexible and rewarding for other types of spending.

Another option to consider is the Capital One SavorOne Cash Rewards Credit Card. It offers 3% cash back on dining and entertainment, 2% at grocery stores, and 1% on all other purchases. This card could complement an Amazon shopper’s wallet. However, Amazon Rewards Visa Signature Card would still be a superior choice for Amazon.com and Whole Foods spending.

In summary, the Amazon Rewards Visa Signature Card stands out for its specific rewards at Amazon.com and Whole Foods, with additional benefits on other spending categories. While other cashback cards might offer more general rewards, Amazon-focused shoppers may find the Amazon Rewards Visa Signature Card more beneficial for their spending patterns.

Conclusion

The Amazon Rewards Visa Signature Card offers impressive rewards, especially for avid Amazon and Whole Foods shoppers. With a 5% cash back rate on Amazon.com and Whole Foods Market purchases for Prime members, and 2% cash back at restaurants and gas stations, this card provides significant value for those who frequent these retailers.

As a Visa Signature card, it also comes with a strong set of travel-related benefits, making it a solid choice for travelers as well. Additionally, there is no annual fee, making it easy to justify adding to your wallet.

However, it’s important to take note that the card’s variable APR ranges from 14.24% to 26.74% according to Bankrate. There is also no introductory 0% APR offer, so it may not be the best option for those seeking a card for balance transfers or financing large purchases.

In summary, the Amazon Rewards Visa Signature Card is an excellent choice for Amazon Prime members and those who frequently shop at Amazon and Whole Foods Market. Its additional benefits make it a versatile card for various spending categories. However, those looking for balance transfers or financing solutions may want to explore other options.