November 12, 2019
Amazon Prime Rewards Visa Signature Card Review

Amazon Prime Rewards Visa Signature Card Review

If you are one of the Amazon Prime loyalists then this is a must-to-have no-annual-fee Visa Signature rewards card for almost all of your purchases. If you are not a Prime user but still use Amazon frequently, then you can understand more about this card and consider buying a Prime membership. It is to be kept in mind that only Amazon Prime users can apply for this card.

Amazon Prime Membership

Amazon_Prime

Issued by Chase, this card is made of metal and can add make your Prime membership more worthwhile. This card could be really beneficial for Whole Foods shoppers as well.

Not only this card offers a 5 percent bonus rate on Whole Foods purchases but both online and offline, your earnings with the card will also cancel out the cost of your Prime membership ($119), if you spend at least $2,380 at Whole Foods every year. Not to forget that Prime already offers free shipping and discounted products exclusively to its members.

This card can easily become your everyday credit card and is accepted at any place which accepts Visa cards. On your transactions, you will receive rewards from the card but the most rewards value will come when you shop from Amazon. With no annual or foreign transaction fee, this card also offers good rewards on restaurant, gas, and drugstore purchases.

Let’s deep dive into this Amazon Prime Rewards Visa Signature card review so that you have the right and detailed perspective before getting this card.

Amazon Prime Rewards Visa Signature Is Most Rewarding For You

visa signature

  • Already have an Amazon Prime account.
  • You shop frequently on Amazon and take full advantage of the Amazon prime membership for which you paid $119.
  • Frequent shopper at Whole Foods (mainly if your annual expenditure there is more than $2,380).
  • Travel frequently and take the card’s travel benefits including the waived foreign transaction fees.
  • You spend on dine outs and gas purchases.

How Do You Use This Card?

  • To apply for the card, sign up for an Amazon Prime membership.
  • Use the card for all your Whole Foods and Amazon purchases and earn a 5% bonus rate, and take advantage of the purchase protection.
  • Use your earned points while checking out on Amazon. They can be instantly applied with no minimum points’ requirement.
  • During your international trips, this can be used for tickets and shopping, without foreign transaction fees.

How to Earn Rewards and Points?

 earn rewards and points?

 

Once your application for the card is approved, Amazon offers a $70 gift certificate to all new cardholders. The gift certificate is loaded into your account and is available for immediate use.

This card offers cashback earnings in three tiers which add up to a high earning rate overall.

  • Get 5 points per dollar spent at Amazon.com or Whole Foods Market
  • Earn 2 points per dollar spent at gas stations, drugstores and restaurants
  • Get 1 point per dollar on remaining purchases

There are other cards that also offer 5 percent cashback at Amazon checkout. Though many of them have terms and conditions applied and they limit the cashback to the first purchases worth $1,500.

Whole Foods Shoppers:

Regular shoppers of Whole Foods can earn a lot of rewards points with this Amazon Prime Rewards Visa Signature card. The 5 percent cashback is applicable to the store purchases as well, both online and at the counter.

If you yearly spend more than $2,380 at Whole Foods, your cashback amount comes to $119 which is equivalent to your Prime membership. This card has the potential to become a huge deal for frequent Whole Foods’ shoppers.

Here is The Cashback Structure:

  • Get $33 cashback for a yearly bill of $600
  • Get $65 cashback for a yearly bill of $1,300
  • Earn $119 cashback for a yearly bill of $2,380

How To Redeem The Reward Points?

redeem the reward points

Amazon has tried to make the sign-up process for this card and rewards redemption as simple as possible. Users who are Amazon Prime members and hold an Amazon Rewards Visa Signature Card will be automatically upgraded to his new card.

Your one point in this card is worth 1 cent, so 100 points are worth $1. Here is how you can maximize out of your points:

  • Amazon purchases: These points can directly us at your Amazon check out. A part or all of your purchases can make through these points. For part purchases, you can pay the remaining through Amazon’s gift cards or credit card. Shop with Points becomes another payment mode attached to your account. For some purchases, this mode of payment might not be applicable.
  • Cash or statement credits: These points can redeem via online transfer to eligible savings and checking accounts. Points can be also applied as statement credits. Minimum 2,000 points are required to use this as an option for points’ redemption.
  • Travel: To redeem points for travel, you’ll have to call the Chase Travel Center and book airline tickets, hotel rooms, rental cars, and cruises through them. You can make the remaining payment with your credit card.
  • Gift cards: You can purchase gift cards for retailers such as Starbucks and Walmart at chase.com/amazonrewards. Minimum 2,500 points are required to use this as an option for points’ redemption.
  • Products or services: Chase sometimes allows the users to use Amazon points to pay for products or services from third-party merchants.

Amazon Prime Redeem Points:

Irrespective of the option to redeem points, you get a value of 1 cent per point. These points apply to only a single Amazon Prime account.

The best way to make this card most beneficial for you is to be a loyal Amazon and Whole Foods shopper while keeping the Amazon Prime membership active. The most useful ways to redeem your points are gift cards or cashback or travel. If you use these points to make Amazon purchases instead of using your credit card to make the whole purchase, you decrease the number of points you can earn.

Extra Perks:

Along with its three-tiered rewards program, this card offers some great features. The card offers many several ways of protection to help safeguard your online purchases. The card also guarantees zero fraud liability which means you cannot be ever held liable for unauthorized purchases made using your card.

Have a look at these protections here:

  • Purchase protection: Get protection for 120 days against damage or theft of purchases, up to $500 per claim and $50,000 per account.
  • Extended warranty protection: Warranties which are eligible for three years or less, this card will extend them with one more year.

The mentioned below Travel Protection options make this card a good travel companion:

  • Zero foreign transaction fees: For purchases made outside the U.S.A, you aren’t charged any transaction fees. 
  • Travel assistance: You become eligible for legal, medical and other emergency help during the travel.
  • Lost luggage insurance:  You and your family members can be covered, up to $3,000 per passenger, for checked and carry-on baggage that is either lost or damaged by your carrier.
  • Baggage delay insurance: You will be reimbursed, up to $100 per day till three days, for delays of six hours or longer, for important purchases in your luggage which get delay to arrive during your travel.
  • Travel accident insurance: In case of accidental death or dismemberment during the travel, this card can offer coverage up to $500,000.
  • Roadside assistance: You get the facility to call a 24-hour roadside service through the card if you face a roadside emergency. This service is chargeable.

Fees:

  • Annual fee: $0, Prime membership needed
  • Regular APR: 16.24 – 24.24% (variable)
  • Regular Balance Transfer APR: 16.24 – 24.24% (variable)
  • Cash Advance APR: 27.24% (variable)
  • Foreign transaction fees: None
  • Penalty APR: None
  • Late fee: Up to $39
  • Returned payment fee: Up to $39

Security:

Credit cards issued by Chase are known for their industry-standard security features. If you misplace the card, you can easily lock it using the app. If you require a new card, you can easily get a free replacement within 24 hours in the U.S. and Canada.

Other Features:

  • Option to extend the warranty
  • Insurance for delayed or stolen or damaged purchases
  • Hotline for travel and emergency
  • Car rental insurance
  • Assistance for booking restaurant reservations, event tickets, hotels, and other services

Pros and Cons of Amazon Prime Rewards Visa Signature Card:

Pros:

  • No annual fee
  • No foreign transaction fees
  • Exciting rewards in many categories
  • Various ways to use points and rewards
  • No limit on the amount of cashback you can earn
  • Points do not expire

Cons:

  • Prime membership is mandatory
  • No option to transfer reward points
  • No introductory purchase offer
  • The card can link to only one Prime account to earn cashback

This card will make the most sense to buy if you are an Amazon Prime and Whole Foods loyalist. You can compare the rewards section with other cards in the same category.

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