New Amazon Offer Could Net You $100 to Spend on Prime Day 2020

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Prime Day 2020 is almost here. And Amazon is making a tempting offer to those who still don’t have its branded credit card in their wallets.

Amazon is rewarding new Amazon Prime Rewards Visa cardmembers with a $100 gift card as part of a limited-time promotion. It aligns with the upcoming Prime Day sale that usually produces some of the best bargains of the year.

From September 28 to October 31, eligible Prime subscribers can sign up for this credit card and “instantly” receive the gift card as a credit to their Amazon account. This offer is for new card applicants only and requires an Amazon Prime membership. Prime memberships are $119 a year or $12.99 per month. There is a 30-day free trial available as well as discounts for students and EBT holders.

After a delay caused by the coronavirus pandemic, Amazon recently announced that it will be moving forward with its annual Prime Day event on October 13 and 14.

That conveniently falls within the window of this credit card promotion, meaning that you could easily have the $100 gift card in hand to spend on the event — if you act quickly.


Quick Look: Amazon Prime Day 2020

If you’re not familiar with Amazon’s annual Prime Day event, it’s a members-only sale that features some of the best discounts you may see all year on popular products in categories like electronics, toys, fashion and more. It also usually produces good deals on Amazon products like the Fire streaming devices.

Team Clark’s Craig Johnson recently compiled five things you need to know heading into this year’s Prime Day event.

And if you’re wondering what you should buy during Prime Day 2020, the team at ClarkDeals.com has been scouring the internet for all of the best deals Amazon has to offer this year.


Quick Look: Amazon Prime Rewards Visa

If you want that $100 gift card, you’ll first want to make sure that this card is a long-term fit for your wallet.

Here’s a quick breakdown of what you can expect from your card membership:

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  • 5% Cash Back on Purchases Made through Amazon.com: An active Prime membership, which nets you free two-day shipping (or faster) on many items, is required to receive this cash back offer.
  • 5% Cash Back at Whole Foods: The well-known, high-end grocer is an Amazon property, so the online retail giant makes healthy grocery shopping a big perk with this credit card.
  • 2% Cash Back at Restaurants, Gas Stations and Drugstores: This matches the rewards you could get from everyday 2% cash back cards like the Clark-endorsed Citi Double Cash in three popular spending categories.

Money expert Clark Howard cautions that you should never sign up for a credit card based solely on its welcome bonus.

“I never want people to be so enamored with the sign-up bonus that they end up with a card that over time will ultimately under-reward,” Clark says. “The credit card issuers are making an assumption that you’re going to be really profitable over time for them. So often the bonus will be really generous, but the card itself will be pretty rotten.”

Luckily, in this scenario, the Amazon Prime Rewards Visa is a pretty decent long-term option if you’re a Prime customer.


Final Thought

If you’ve been on the fence about adding the Amazon Prime Visa Rewards credit card to your wallet so you can save 5% on all of your Amazon purchases, now may be the time to act.

The $100 gift card bonus is for a limited time, and it lines up perfectly with what could be some great deals during the Prime Day 2020 event.

Clark predicted that holiday shopping deals would come early this year, so October could be the time to start enjoying savings on your Amazon purchases. Of course, Clark also would advise you not to spend beyond your means.

Use this card for the rewards only, and then pay the bill in full at the end of each month.

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