Is The Amazon credit card good? Amazon has a gargantuan hold on many Americans’ shopping habits, and it’s been estimated that nearly 5% of all U.S. retail goods sold are through the online behemoth.
If you regularly shop via Amazon.com, at Whole Foods or purchase AWS cloud services, you may have been wondering if using an Amazon-branded credit card was a smart move, since you can earn elevated rewards on your Amazon-centric spending as well as several other areas of spending.
There are four Amazon credit cards to consider: two consumer cards and two small business cards. Each card comes with its own set of benefits and potential drawbacks. Is one of them right for you? Let’s take a closer look at each card to help you decide.
Is The Amazon credit card good?
Charging your purchases on an Amazon credit card can be a rewarding decision if you’re a frequent Amazon shopper. But just as Amazon has a dizzying amount of choices to shop for on its website, the retailer also offers many credit card options.
Amazon offers six different credit cards, across three different issuers, with eight potential rewards structures depending on whether you’re an Amazon Prime customer and whether you’re using the card for personal spending or for business purchases. Here’s what you need to know about your options, and how to choose which one is right for you.
Amazon Business Prime American Express Card
The Amazon Business Prime American Express Card is the small business credit card for Business Prime members.
- No annual fee, but an Amazon Business Prime Membership is required to apply for the card. A Business Prime membership starts at $69 annual for one user and goes all the way up to $10,999 a year for over 100 users.
- No foreign transaction fees.
- Rewards: 5% back in rewards or 90 day terms on eligible U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods on the first $120,000 spent in a calendar year with an eligible Prime membership, 1% thereafter. Earn 2% at U.S. restaurants, U.S. gas stations, and on wireless telephone services purchased directly from U.S. service providers and 1% on other purchases
- Payment options: Instead of earning 5% rewards, cardholders can choose 90-day terms on U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods Market to repay a balance without incurring interest.
- Other benefits: As an American Express card, the card comes with baggage insurance, car rental loss and damage insurance, extended warranty, purchase and return protections.
Pros and Cons
The card earns 5% cash back on Amazon purchases—which includes the Amazon Web Service (AWS) cloud platform—on up to the first $120,000 in spending per calendar year, then 1%. If your business spends significantly at Amazon but under the $120,000 cap, this could snag you some solid savings. However, those with high expenses beyond the Amazon ecosystem or who want more flexibility in a business rewards card are likely to find that a business card with a different structure will yield greater rewards.
Where this card shines is in the potential to carry a balance for 90 days in lieu of earning rewards on your purchase. For those who need the extra time, this option can be far more valuable than earning single digit rewards when the APR is a variable 19.49% – 27.49% variable.
- Alternate Pick: The Blue Business® Plus Credit Card from American Express
- If your annual spending is far below $120,000 but you still want strong rewards on your business expenses, look at a card like The Blue
- Business® Plus Credit Card from American Express (Terms apply). This card offers the following rewards: 2 Membership Rewards points per dollar on everyday business purchases such as office supplies or client dinners up to the first $50,000 in purchases per year, then 1 point per dollar on all other purchases That’s simpler to keep track of and there’s no annual fee or associated membership requirement to apply. (See rates & fees).
How the Amazon Prime Visa Signature Card Works
Amazon is the virtual store that has everything. Place your order today and you can have it as early as tomorrow. Not only does the company offer a wide variety of goods but it also offers a co-branded Visa card, especially for its Prime members.
The Prime Signature Visa is similar to its alternative co-branded card, named the Amazon Signature Visa credit card. Both can be used anywhere Visa is accepted and are backed by Chase Bank, a subsidiary of JPMorgan Chase, which handles all revolving credit services and issues.
The card can be used anywhere that accepts Visa. It offers 5% cash back on all items purchased on Amazon, at Whole Foods markets, and at Amazon Fresh, as well as rewards on everyday purchases. Newcomers get a $200 Amazon Gift Card instantly upon credit card approval. Cardholders may also select a card design featuring either Amazon or Whole Foods.
Who Should Consider the Amazon Prime Visa Signature Card?
If you are a frequent Whole Foods shopper and are an Amazon Prime member, this card might make sense given the rebates and rewards. A co-branded card like this provides not only access to rewards but a line of credit, and you have the flexibility of being able to use the card anywhere that takes Visa.
If you don’t want to take out a credit card, but you have brand loyalty to Amazon and shop frequently on its website, you might consider an Amazon or Amazon Prime Store card.
How Can I Pay Off My Amazon Prime Visa Signature Credit Card?
You can make payments on your Amazon Prime Visa Signature credit card through the Chase website or on the mobile app. You can also mail in a check when you receive your Amazon Visa card statement every month.
How Can I Cancel My Amazon Prime Visa Signature Credit Card?
If you want to cancel your Amazon Prime Visa Signature Credit Cards, you must contact Chase customer service at 1-888-247-4080.
Does Amazon Prime Visa Signature Card Help You Build Credit?
Yes. If you manage your credit wisely, it can help you improve your credit over time just like any other credit card. This means using the card and paying off the balance or making the minimum payments before the due date.
Does the Amazon Prime Visa Signature Have an Annual Fee?
No, the card does not have an annual fee. However, you will be required to purchase an Amazon Prime membership ($139 a year) if you want to open an Amazon Prime Visa Signature credit card account.
What’s the Difference Between the Amazon Prime Visa Signature Card and the Amazon Rewards Signature Visa Card?
Both cards are co-branded by Chase and offer the same terms and conditions but slightly different rewards. Prime members get a 4% back on all items purchased on Amazon.com and at Whole Foods, and non-prime cardholders receive a 3% rebate. Both cards come without an annual fee, but a Prime membership costs $139 a year.
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