Even if you are not an Amazon Prime Member, this card allows you to earn cash back when shopping on Amazon. But how does it work? Is it a solid rewards card you can rely on?
Well, the three reward categories are the first thing to note. It has the 3%, 2%, and 1% categories to earn rewards whenever you make qualifying purchases.
Let’s review this Amazon Rewards Visa Signature Card comprehensively to better understand how it works.
Features of the Amazon Visa Card
The Amazon Visa Card offers some great features for frequent Amazon shoppers. One of the best perks is the 5% back you get on all Amazon purchases for Whole Foods. So every time you buy something on Amazon with the card, you earn rewards points equal to 5% of the purchase value.
Those points can then be redeemed for credit on future Amazon orders. The card also provides unlimited 2% cash back at restaurants, gas stations, and drugstores and 1% back on other purchases.
The Amazon Visa Card does not have an annual fee, so even after enjoying the huge rewards, you don’t pay a dime for using the card. Other features include purchase protection, extended warranty protection, and no foreign transaction fees.
If you shop regularly on Amazon, the 5% back reward can really add up over time. In other words, the Amazon Visa Card makes it easy to earn rewards points on Amazon purchases you’d be making anyway.
How Amazon Visa Card Works
Simply head to Amazon and apply for your Amazon Visa Card. If approved, you can start shopping and earning rewards on almost every purchase you make. You can also go to the Amazon Visa rewards card sign-in page, access your account, and see all the activities, including checking rewards balances.
The best place to earn with this card is on Amazon.com. Why? It offers the highest cashback of 3% on all purchases. Other areas that earn the 3% reward include Chase Travel, Amazon Fresh, and Whole Foods Markets.
But that’s not all that the card offers. There is a 2% category on restaurants, gas, and local transit. Finally, all other eligible purchases earn you a 1% cashback.
New cardholders have one more benefit – they receive a $50 gift card into their account right after their application is approved. That’s a good headstart on your rewards.
The Amazon Visa Card has no annual fee. However, it charges an APR of 19.49%–27.49% for purchases. And even if you are traveling abroad, you can use your card anywhere that accepts VISA.
When it comes to redeeming your rewards, it’s pretty easy. Simply go to Amazon and redeem. And you can do this even a day after earning your rewards.
Pros and Cons of Amazon Visa Card
The Amazon Visa card has strengths and weaknesses. Understanding both sides is crucial if you want to make an informed decision.
Benefits
The first benefit is that the card has no annual fee. This makes it cheaper to operate the Amazon Visa card. Also, the card can be used internationally where VISA is used, without foreign transaction charges. That makes it ideal for international travel.
The rewards are also quite attractive, with 3% unlimited cash back on purchases made on Amazon, Amazon Fresh Chase Travel, and Whole Foods Markets.
The contactless payment feature makes your payments quite seamless. Also, the card offers protection on travel and purchases.
Cons
The first drawback of this card is the high APRs. For instance, the cash advance APR is as high as 29.99%, while that on purchases and balance transfers can be up to 27.49%.
Additionally, the card offers lower rewards when compared to the 5% unlimited cash back by the Prime Amazon Visa. So, if you want to reap more rewards, you might want to upgrade and get your Prime Membership.
Rates and Fees of the Amazon Visa Card
The Amazon Visa Card comes with a purchase APR of 19.49%–27.49%. That’s the same APR for balance transfer.
On the other hand, the cash advance APR stands at 29.99%, the same as the penalty APR. All these APRs are determined by the Prime Rate.
As for the transaction fees, there are the balance transfer and cash advance fees. These are charged at $5 or 4%, whichever is greater.
Lastly, there are also some penalty charges. These include the late payment and returned payment, both charged at $39.
Eligibility Criteria and Requirements
The credit check is the first thing involved in your card approval process. Chase Bank will conduct a credit check to ensure you qualify to be approved for the card. If approved, you get a credit limit of $500 to spend.
Additionally, you must be 18 years or older to start your application. However, in Puerto Rico, you must be 21; in AL and NE, the minimum age is 19.
Lastly, you need a physical address in the US, Puerto Rico, US military addresses, Guam, or the District of Columbia.
Application Process
The application for the Amazon Visa Card is done online on their website or through the Chase website. However, the approval is done by Chase Bank. It is Chase Bank that determines and administers the credit limits.
The application can be approved instantly or after a while. If it’s instant, you are redirected to the card agreement page. If not, you’ll be notified of the status, as the approval can take up to four weeks.
Once you have been approved for your Amazon Visa rewards card, log in to your account to view account activities. Here, you can see your rewards balance and even set up account alerts.