Are you ready for holiday shopping on Amazon in 2023? Will you be using a rewards credit card to make your purchases?
If you’re already an Amazon Prime member, you may want to consider adding the Amazon Prime Visa to your wallet to enhance your shopping with the retail giant this year.
The Prime Visa, which has a great 5% cash back policy for Amazon purchases, has two new limited-time offers that could boost the rewards you receive on your holiday shopping.
One is limited to new cardholders, but existing cardholders can get in on the fun as well!
Amazon Prime Visa Has 2 New Limited-Time Perks
As mentioned above, there two different limited-time offers that were unveiled on November 17, 2023.
The first is a welcome bonus offer for new cardholders, but there also is an enhanced cash back opportunity that both new and existing cardholders can enjoy.
Boosted Welcome Bonus Offer for a Limited Time
For a limited time, Prime members can get a $200 Amazon Gift Card instantly upon approval for Prime Visa.
The advantage of this welcome offer is that there is no spending requirement. Typically, a credit card sign-up bonus requires that you spend $500 or more in a set period before you can receive a bonus that is usually awarded weeks later as a statement credit or rewards points.
But this offer allows you to have immediate spending power just in time for the holiday season.
As for the value of the offer, it’s substantially more than the $50 or $100 gift card that is typically offered as a welcome bonus for this card. And while it does fall short of the more than $500 some credit cards offer as welcome bonuses, it’s important to remember that most of those credit cards carry hefty annual fees.
This one has no fee aside from the money you pay to be an active Amazon Prime member.
Earn 6% Back on Amazon Purchases for a Limited Time
For a limited time, Prime members with a Prime Visa can earn an extra 1% back (for a total of 6% back) on their orders when they select No-Rush Shipping at checkout.
The Prime Visa is one of our favorite credit cards for shopping because it has a regular cash back rate of 5% on all of your Amazon and Whole Foods purchases.
But this extra 1% offer will push all of your holiday purchases to 6% back, which is near the very best return that any cash back credit card will give. And you don’t have to be a new cardholder to enjoy this perk. It’s open to existing users as well!
One word of caution: The no-rush shipping option may delay the arrival of your purchases. So, if you need them by a specific date for gift-giving purposes, you may find you’re better off skipping the extra 1% back and using a more timely delivery method.
Is the Amazon Prime Visa Worth It?
Team Clark generally recommends that you start your rewards credit card journey with a no-annual-fee credit card that offers 2% cash back on all of your purchases regardless of retailer or spending category.
Because of this, we often recommend 2% cards like the Citi Double Cash® Card, Wells Fargo Active Cash® Card and PayPal Cashback Mastercard®.
But if you’re an Amazon Prime member who does frequent shopping with Amazon, there’s a great case to be made for having this card in your wallet as well. Earning 5% back on all your Amazon, Amazon Fresh, Whole Foods Market and Chase Travel purchases is a nice boost from the 2% you may earn with one of the cards mentioned above.
And it also matches those cards with 2% back at restaurants and gas stations.
If you already have a 2% cash back card and are looking to add another rewards card, I think the Amazon Prime Visa could be a nice fit for Amazon loyalists. And with a limited-time offer for a $200 gift card, now may be a good time to consider it.
Do you have the Amazon Prime Visa in your wallet? If not, will this offer entice you to add it? We’d love to hear your thoughts in the Clark.com community.
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