Amazon Prime Store Card Vs Amazon Prime Visa Card: At A Glance
Synchrony and Chase each offer two versions of their Amazon cards one for Prime members and one for nonmembers and youre automatically assigned one or the other when you apply.
Whether you opt for an Amazon store card from Synchrony or an Amazon Visa from Chase, being a Prime member is key if you want to maximize your .
While youll earn 5% back on Amazon purchases with either the Amazon Prime Store Card or the Amazon Prime Visa card, the two cards vary considerably in other areas, including their sign-up bonuses, approval odds and cardholder benefits.
|Amazon Prime Store Card|
Not Sure This Is The Card For You Consider These Alternatives
The Amazon Prime Rewards Visa Signature Card isnt a perfect fit for everyone. If youre looking for a new card but havent fallen in love yet, take a look at these other options.
- Citi® Double Cash Card: Consider this card if youre looking for a strong cash back rate on every purchase you make.
- Petal® 1 Visa® Credit Card: This is a decent starter card with no annual fee and the opportunity to earn cash back on some purchases.
- Discover it® Cash Back: This card is a good option for earning cash back wherever you shop.
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Amazon Prime Rewards Card Credit Score
The Amazon Prime Rewards Visa Signature Card is intended for consumers who have fair or good credit. A FICO® Score of 640 or higher is recommended, although there have been reports of applicants with lower scores getting approved. Don’t forget that you need an Amazon Prime membership to apply. Given that Chase issues this credit card, you’ll also want to keep Chase’s 5/24 rule in mind, as you could be declined for opening too many credit cards.
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Best For Earning Business Rewards
The Amazon Business Prime American Express Card is one of the most popular business credit cards on the market. It comes with excellent perks such as 5% back on your first $120,000 of purchases each year, 2% back on restaurants, gas stations, and wireless telephone services, and 1% back on other purchases.
You’ll also get welcome bonuses like a $100 gift card after your first $3000 in purchases in three months.
With the Amazon business card, you also get extensive manager tools. First, you can assign an account manager who makes the payments, reviews transactions, and adds and removes employee cards. The account manager can oversee everyone’s spending, tag the purchases in QuickBooks, and set account alerts for certain spending activities.
It’s important to note that you must have an Amazon Business Prime membership to use this card. Not only that, but you can lose your accrued rewards if you cancel your Prime account or make a late payment on your credit card.
- Lose your points when you cancel your Amazon Prime membership
- Lose your points when you make a late payment
No Annual Fee With A Catch
There are no annual fees for the Amazon Business Prime Card. However, to qualify to receive the card, youll need an eligible Amazon Prime membership. Specifically, youll need a personal Prime account or a Business Prime membership .
Because a Prime membership gets you 5% cash back on purchases under the Amazon banner, if you have a personal Prime account, youll need to spend around $2,380 on Amazon purchases annually to recoup the cost of Prime with your card alone. Of course, Prime comes with an array of benefits, including two-day free shipping, access to Prime Video and Music, exclusive deals, and more. Its also worth mentioning that the $125 welcome Amazon.com gift card covers one year of a personal Prime membership. This means that Amazons premium membership may be well worth it even if you wont be breaking that $2,380 mark on Amazon purchases.
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So Is It Worth It To Apply For The Amazon Prime Rewards Card
For existing Prime members who are big Amazon spenders, it’s probably a good betespecially because there’s no annual fee to own the card. You could even use this card to earn cash rewards that totally cover your $119 Amazon Prime membership if you spend at least $2,380 a year at Amazon.com. But if you don’t spend that much at Amazon.com every year, you could probably make up that membership fee with rewards earned through spending at Whole Foods and elsewhere.
If your spending lines up with the Amazon Prime Rewards Card’s rewards categories, signing up for Prime and applying for the card is worth considering, because the cash back could cover your Prime membership.
But if shelling out $119 a year for a Prime membership isn’t something you’d do anyway, the card is less attractive and you may want to consider other rewards cards. That’s because there are others out there that can earn you 3% or more on all grocery purchases , as well as other cards that offer higher returns on dining out and gas. The key, as usual, lies in examining where you spend your money in order to maximize your cash back rewards and using the right card on the right purchases.
Here’s when it makes little sense to apply for the card: If you plan on carrying any sort of credit card balance. The on the Amazon Rewards Visa card is between 14.24% and 22.24%, depending on an applicant’s credit worthiness. That rate could wipe out any rewards you might earnand saddle you with additional debt.
What Is The Easiest Form Of Amazon Credit To Get
When it comes to qualifying for Amazon credit, it depends on your current situation. Individuals with sole proprietorships and no business credit may have the easiest time qualifying for the Amazon Prime Visa card, while businesses with existing Amazon Business Prime accounts already have access to Pay by Invoice.
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Business Expense Management Tools
This card gives you access to a host of expense management and tracking tools, such as a mobile app that allows you to save receipt photos and oversee employee spending. You can also send your transactions over to your QuickBooks account, should you have one. Furthermore, you can use your card to pay bills with Vendor Pay by Bill.com, though youll have to enroll in the program, and there may be monthly fees involved if theres more than one user.
Best For Building Credit: Amazon Prime Secured Card
If you have a limited credit history or are working on rebuilding your credit after a few financial missteps, both the Amazon store cards and the Chase Amazon cards may be temporarily out of reach. And since nearly every new credit card application will result in a hard pull of your credit report, it makes sense to limit applications to cards that offer a decent chance at approval.
A great starting point is the Amazon Prime Secured Card, a secured version of the Amazon store cards. Also issued by Synchrony Bank, the Amazon Prime Secured Card charges no annual fee but requires you to put down a refundable deposit of $100 to $1,000 , which doubles as your credit limit.
To start, the card offers 2% back on Amazon.com purchases for Prime members. After 12 months of responsible use, you may be able to graduate to an unsecured Amazon store card, get your deposit back and boost your cash back rate to 5% on Amazon.com purchases with a Prime membership. The card also charges an ultra-low fixed APR of just 10% and a late fee of up to $5 .
Once your credit score improves, you can also look for a more flexible cash back credit card like one of the Amazon Visa cards. Just keep in mind that since the Amazon store cards and Amazon Visa cards have different issuers, you cant request a product change from one to the other. Youll need to put in a separate application and face a separate hard credit inquiry.
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Become An Amazon Associate Affiliate
If you have a website or blog I recommend checking out the Amazon associate affiliate program.
It is a tiered system that will pay you more commissions for the more you refer each month.
Amazon associates is a great affiliate program that works awesome on blogs or websites that have beauty, household, and other products people purchase on a consistent basis.
If you enroll someone in Amazon Prime through your affiliate link you also receive $3 per sign up. If you refer four people per month you are making back the cost of your membership!
Is It Worth Signing Up For Amazon Prime
Amazon Prime costs $119 per year, comparable to the cost of many credit cards with annual fees. Since the Amazon Prime Rewards Visa Signature Card is only open to existing Prime members, you may wonder if it’s worth opening a membership if you don’t own one already. Here is the list of the ongoing benefits you’ll enjoy with Amazon Prime:
- Free two-day shipping on millions of eligible products, with free same-day or 2-hour delivery in select cities
- Extra 10% discount on sale items at Whole Foods
- Prime Video, offering access to thousands of movies and TV shows for free
- Prime Music, offering over two million songs ad-free with the opportunity to upgrade to Amazon Music Unlimited at a Prime member rate
- Amazon Photos, with free unlimited photo storage shareable to up to five family members or friends
- 30-minute early access to Amazon Lightning Deals
- Borrow one e-book for free on any Kindle device
If you live in a metropolitan area, Whole Foods offers free two-hour delivery or one-hour same-day pickup, which can be helpful to grocery shoppers who need items in a pinch. While the shipping benefit alone is why millions of people subscribe to Amazon Prime, there are many entertainment and shopping perks with this subscription.
Amazon Prime also offers a free six-month trial exclusively for college students. After that, you’ll enjoy a 50% discount on membership while you’re still a student.
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Final Verdict: Is An Amazon Store Credit Card A Good Choice For Online Shoppers
The answer to that question ultimately depends on how much shopping you do at Amazon and how you prefer to save money.
For shoppers who dont want to pay interest on larger purchases or get hit with an annual fee, the .
On the other hand, if you already have a Prime membership the 5% back option with the Amazon Prime credit card offers you a little more in the way of rewards.
If you want rewards but you dont think youll use Prime to stream movies or TV or take advantage of the free two-day shipping, youre better off sticking with one of the no-annual-fee alternatives we mentioned earlier.
See the rates & fees for the mentioned American Express cards: Blue Cash Preferred from American Express .
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Us Bank Cash+ Visa Signature
The has a more customizable cash back program that makes it a good pick if you love Amazon.
The card offers the option to earn 5% cash back on the first $2,000 in purchases in two categories of your choice each quarter.
One of the choices is electronics stores, including Best Buy, which sells Amazon gift cards so you can save when you stock up.
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Amazon Prime Rewards Visa Signature Card Overview
The Amazon Prime Rewards Visa Signature Card is one of the best online shopping credit cards due to its high reward rates on Amazon purchases with no spending caps and Visa Signature benefits.
The biggest drawbacks are the required Amazon Prime membership and a few missing purchase protectionsbut these are minor nitpicks compared to what many other store cards offer.
What Credit Score Do I Need For The Amazon Visa Approval Odds
By Adam Jusko, ProudMoney.com, firstname.lastname@example.org
The is a popular credit card for rewards seekers, thanks to its 5 points per dollar on Amazon.com and Whole Foods purchases for Amazon Prime credit card customers , plus 2 points at restaurants, gas stations, and drug stores, and 1 point per dollar everywhere else.
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What About The Starting Credit Line
Being approved for the Amazon Visa is one thing, but getting a credit line big enough to actually make it useful is another. In general, the lower your credit score, the lower your starting credit line is going to be. Someone with a lower score could start out with a credit line of only $500 while a well-established cardholder with a high credit score and lengthy history of handling credit well could easily get a $5000 credit line or even more.
Earning And Redeeming Points
As mentioned above, the Amazon Prime Rewards Visa Signature Card lets users earn 5% back at Amazon.com and Whole Foods Market with an eligible Prime membership, 2% back at restaurants, gas stations and drugstores and 1% back on all other purchases..
You’ll earn rewards in the form of points, which can then be applied to future Amazon purchases through the Shop with Points Program. Or, you can redeem your points for cash back, gift cards or travel through Chase.
Each point is worth 1 cent each, so 100 points equal $1 in rewards. So long as you’re a cardholder, your rewards won’t expire, and there’s no limit to how many points you can earn.
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Amazon Prime Rewards Review: Perhaps The Ultimate Store Card
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Wait For Amazon Prime Membership Sale
While this doesnt happen very frequently Amazon does sometimes offer heavily discounted membership options.
When Amazons original show, Mozart in the Jungle, won a golden globe for best TV series they dropped the price to $73. While this isnt always predictable its a great way to take advantage of a discounted Prime membership.
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Looking For A Credit Card With Poor Credit
If you currently have only limited, poor, or average credit, and are looking for a real credit card, we currently recommend theMilestone® Gold Mastercard®instead of the Amazon.com Card.
This is because the Milestone® Gold Mastercard® allows you to see if youre pre-qualified before you apply for the card so you dont have to risk having your credit pulled, only to be denied a card.
The Milestone® card is a Mastercard® which means that it can still be used on Amazon and at millions of merchants around the world.And your application will be considered even if you have a prior bankruptcy.
What Kind Of Credit Is Required For The Amazon Prime Rewards Signature Visa Card
Unlike the Amazon store card, which only requires fair credit, the Amazon Rewards Signature Visa cards both require a higher credit score because they are Visa credit cards.
Amazon.com offers both a store credit card that can only be used on Amazon.com orders and several co-branded Visa card options such as the that can be used anywhere Visa is accepted.
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Amazon Prime Rewards Visa Signature Credit Card Review
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The Amazon Prime Rewards Visa Signature card could be an ideal choice for people who have an eligible Prime membership and do a great deal of their shopping at Amazon.com and Whole Foods Market. This card comes with no annual fee and offers 5% cash back on purchases at those two retailers, along with 2% cash back at restaurants, gas stations, and drugstores. All other purchases earn 1% cash back.
Amazon Prime Rewards Visa Features:
- Annual fee: $0, although an annual $119 Amazon Prime subscription is required
- : Good to excellent
- Rewards: Earn 5% cashback on Amazon.com and Whole Foods Market purchases, 2% cashback at restaurants, gas stations and drugstores, 1% cashback on all other qualifying purchases and a bonus of 10% to 25% on select Amazon merchandise
- Welcome offer: $100 Amazon gift card upon approval
- Purchase intro APR: 0% APR up to 18 months
- Balance transfer intro APR: N/A
- Standard APR: Variable APR of 14.24% to 22.24%
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