Amazon just rolled out another major perk for its Prime members: A new credit card that offers 5% cash-back on all Amazon Prime purchases!
Introducing the Amazon Prime Rewards Visa Signature Card
Amazon Prime members already get access to free two-day shipping, a movies/TV streaming service, ad-free music, unlimited photo storage, Kindle books and more for the $99 annual membership fee.
But now they’re getting a sweet credit card offer thrown in too. The Amazon Prime Rewards Visa Signature Card, available only to Prime members, happens to be the only card to offer 5% cash-back when you shop on Amazon.
The other rewards tiers it offers aren’t too shabby either – 2% cash-back on restaurants, gas stations and drugstores and 1% back on everything else. And there’s no cap on the money you can earn.
Right now, Amazon is offering a $70 gift card instantly upon credit card approval. Apply here.
On the downside, the Amazon Prime Rewards Visa Signature Card has a high APR of 14.74% to 22.74%, based on your creditworthiness. So this is definitely a card you want to pay off in full every month!
If you’re already an Amazon Rewards Visa Signature cardholder with an eligible Prime membership, you will be automatically upgraded to this new card.
Here’s a recap of the benefits the new card offers
- 5% back on all Amazon.com purchases
- 2% back at restaurants, gas stations and drugstores
- 1% back on all other purchases
- No cap on rewards earned
- Rewards never expire and are redeemable on hundreds of millions of products at Amazon.com
- No foreign transaction fees when traveling abroad or for cross-border shopping
- No annual credit card fee
- Zero fraud liability
- Travel benefits including auto rental collision damage waiver, roadside dispatch, lost luggage reimbursement and more through Visa Signature
- Purchase protections such as extended warranty coverage
- 24/7 concierge service