For many years, Amazon and Chase have been partners on the Amazon.com Rewards Card, which provided consumers with:
- 3% cash back on Amazon.com purchases
- 2% cash back at grocery stores, restaurants, and gas stations
- 1% cash back on everything else
Today, this credit card is changing in many ways–including it’s name. The rejuvenated version of this card is now known as the Amazon Prime Rewards Visa Signature Card, and is available for applications today. Read on to see what the perks of this card are!
Earning Structure
With the new card, you’ll earn:
- 5% cash back on all Amazon.com purchases (in most cases, see below)
- 2% cash back at grocery stores, restaurants, and gas stations
- 1% cash back on everything else
In order to get the 5% cash back at Amazon, you MUST be an Amazon Prime member, which costs $99 a year. If you are not a Prime member, you will only earn 3% cash back at Amazon.com
Other Benefits
With the Amazon Prime Rewards Visa Signature Card, you’ll also get the following perks:
- $70 Amazon gift card upon card approval
- $0 annual fee
- No foreign transaction fees
- Travel and Emergency Assistance
- Lost Luggage Reimbursement
- Baggage Delay Insurance
- Travel Accident Insurance
Does Chase 5/24 Apply?
From data points on reddit, it does not, with many contributors reporting they are over 5/24 and were approved instantly.
(READ MORE: Chase 5/24 is real and here’s the proof)
Does it make sense?
If you already have a Prime Membership, it could make sense, as you’ve already decided that Prime membership is worth $99.
If you don’t have Prime membership, you’ll need to spend $2,000 a year at Amazon.com with this card to offset that $99 Prime membership fee. In my mind, that make zero sense, but if you do the majority of your purchases through Amazon, it might make sense for you.
Is this a card you’re excited about? Will you be adding it to your credit card roster? Let us know below!
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“If you don’t have Prime membership, you’ll need to spend $2,000 a year at Amazon.com with this card to offset that $99 Prime membership fee. ”
$99 fee
-$70 gift card
——
$29
$29/.05% = $580
or
$29/.03% = $967
You’re correct in the first year, but every year after that, when you don’t receive the $70 gift card, the math in the post applies.
Doesn’t the original card give 2 pts.at drugstores as well? Mine has been my exclusive drug store card for years (except when they were a 5% cat for freedom card).
I think you’re probably right. I was having a hard time finding the old card information, so I went with my best guess.
Sure does. Same with gas stations. Though I have since loaded up on those 100.00 GCs periodically sold by svmgiftcards via ebay at 90-93 cents on the dollar. (Excellent way of hitting minimum spends on cards! They typically have the $100 CVS ones every so often at $88 too, though each is purchase limit 2-3 per item promotion)
Figured Chase though would make changes to it when they have also had a 5% store card that could only be used at Amazon.
Kind of was an old relic and I’m sure you can either check your statements (as you appear to be a cardholder) or email communications from Chase describing such benefits. (Got some for their concierge and other such services when the holidays set in.)
Also around Prime day and similar events, usually Chase would give you something like $30 statement credit if you spent 150+ that specific day on Amazon.. sort of targeted, but think every cardholder got it. Though believe you had to use a promo code alongside that last time.
If you have Amazon Prime from a family invite, you don’t get the 5%. Also, note when I clicked on the linked it only offered me $50 gift card. When I signed out of my Amazon account it offered $70.
Do you think this is more valuable than the 5 points per dollar I get when I buy amazon cards at officemax with my chase ink card?
Definitely not. Chase UR are so much more flexible.