Economy

Amazon Announces Credit Card For Prime Members

Amazon Announces Credit Card For Prime Members

The card, while not huge news, keeps with Amazon's efforts to add more and more benefits to Prime, which costs $99 yearly and includes free two-day shipping, so people continue signing up.

Additionally, the new store card offers a nice bump up on the previous 3% money back on Amazon purchases available on its predecessor: the Amazon.com Rewards Visa, to a full 5%. If you discount all the other advantages of Prime Membership, the credit card would still pay for itself if you spend $2,000 a year at Amazon. "We are adding even more value to Prime by offering rewards on Amazon and everywhere else you shop", Amazon Vice President Max Bardon said in a statement.

The catch? To get the card you must be a member of Amazon Prime, which carries a $99 fee. Approval also earns you an automatic $70 Amazon gift card. The newly designed metal card also waives foreign transaction fees when traveling overseas and on cross-border shopping. Prime members will receive these new benefits using their existing card until their new card arrives, the companies said.

The new Amazon-Chase rewards card comes on the heels of the bank's announcement last week that it was slashing its 100,000-point sign-up bonus in half for the Chase Sapphire Reserve Card, effective January 12.

Preston North End 1-2 Arsenal: FA Cup match report
Match victor Giroud said: "We wanted to start the game better than last time out against Bournemouth". Grayson said: "It was hard to speak to the players after the game and know what to say".

The other two cards can be used exclusively on Amazon.com and the few suppliers that make use of Pay with Amazon.

Non-Prime members can still get the card, but will only get 3% cash back from Amazon. But if you do finance a purchase, make sure you pay it off by the time the agreed period is over.

Existing Amazon Rewards Visa cardholders who have Prime will be upgraded to the new Amazon Prime Rewards Visa.

Other store-branded credit cards offer cash back like Target's REDcard, where points are rewarded only on purchases at that store. On top of that, all other purchases earn the user 1% cash back. They are redeemable on products purchased on Amazon.


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