The best Amazon Credit Card benefits are a $50 Amazon.com gift card after account approval ($70 for Prime members) and 3% back at Amazon.com and Whole Foods (5% for Prime members). Amazon Visa cardholders also earn 2% back at gas stations, restaurants and drugstores (1% on all other purchases). These benefits apply to the Amazon Credit Card, which is issued by Chase Bank and can be used anywhere Visa is accepted. Synchrony Bank issues the Amazon Store Card, which can only be used at Amazon.com but gives Prime members 5% back on purchases, too.
Prime members who are approved for either the Amazon Credit Card or the Amazon Store Card will automatically receive a Prime branded version.
Some other Amazon credit card benefits include…
No annual or foreign transaction fee: The Amazon Credit Card has no foreign transaction fee, which means you can shop from internationally based merchants without pesky surcharges on each purchase. Since the Amazon Store card can only be used on Amazon.com, there’s no foreign transaction fee to worry about.
Neither the Amazon Credit Card nor the Amazon Store Card charge annual fees. But you’ll need to pay the annual Prime membership fee for the best rewards.
Visa Signature perks: The Amazon Credit Card is a Visa Signature card, which means you will receive Travel Accident Insurance, Auto Rental Collision Damage Waiver, Extended Warranty Protection, and Purchase Protection. Other features include Lost Luggage Reimbursement, Baggage Delay Insurance, and access to Visa’s Luxury Hotel Collection.
The Amazon Store Card is not eligible for these benefits.
Redemption options: The Amazon Credit Card is a points card, where 100 points equals $1 in rewards. Points can be used to make part or all of a purchase on your Amazon Credit Card. They can be redeemed for cash back starting at 2,000 points in the form of a $20 statement credit. You can also redeem points for gift cards (starting at 2,500 points) as well as travel booked through Chase.
The 5% back on the Amazon Store Card can be redeemed as a monthly statement credit or be used for purchases on Amazon.com.
These cards are an awesome way to save on Amazon spending, at the very least. The Amazon Credit Card is a solid choice for earning rewards on everyday purchases anywhere Visa is accepted. And the Amazon Store Card is great for people with fair credit or better, especially Prime members.