Is the Amazon Prime Rewards Visa Card Worth It? A Deep Dive
Hey everyone, Phillip here from Points of Phillip! Today, I want to talk about a card that’s near and dear to me: the Amazon Prime Rewards Visa Signature Card. With Amazon's Big Deal Days happening now, it's a great time to consider if this card is right for you, especially if you're already an Amazon Prime member.
Why Amazon Prime?
Let's face it: Amazon is a cultural phenomenon. Most of us rely on it for everything from everyday essentials to those impulse buys we just can't resist. And if you're a Prime member, you already know the benefits of fast, free shipping and more.
The Amazon Prime Rewards Visa: A Must-Have for Prime Members?
This card has no annual fee (but you do need to be a Prime subscriber to get the full benefits). The biggest perk? 5% cash back on all Amazon.com purchases! Groceries from Amazon Fresh? Check. Diapers? Check. Even that new security camera system you've been eyeing? Check!
While it's not a "catch-all" card in the traditional sense, if you strategically shift your spending to Amazon, it can function like one. Think about it: you can buy clothes, groceries, household goods, and more, all while earning that sweet 5% back.
Card Specifics & Perks
Sign-up Bonus: Currently, new cardholders can often get a $150 Amazon gift card upon approval. That’s a great way to offset a purchase you've been planning!
Chase 5/24 Rule: This card is issued by Chase, so the 5/24 rule applies (meaning if you've opened five or more credit cards in the past 24 months, you might not be approved). However, some have reported being approved even outside of the 5/24 rule with this card.
Earning Rewards:
5% cash back at Amazon.com, Amazon Fresh, Whole Foods Market, and Chase Travel
2% cash back at gas stations, restaurants, and on local transit/commuting
1% cash back on all other purchases
Redeeming Rewards: You can redeem your rewards directly on Amazon, but a better strategy is to redeem them for a statement credit or direct deposit into your bank account. This way, you can still earn 5% back when you make purchases on Amazon.
Special Perks to Consider
6% Cash Back with Amazon Day Delivery: Prime members can earn an extra 1% by choosing Amazon Day delivery.
Buy Now, Pay Later with Equal Monthly Installments: This is a HUGE benefit! You can finance large purchases on Amazon with 0% interest for a set period. While you do forgo the 5% cash back, this can be a great way to manage larger expenses, like a new laptop or home security system.
Other Benefits
The Amazon Prime Rewards Visa also comes with:
Auto rental coverage
Baggage delay insurance
Extended warranty protection
Lost luggage reimbursement
Roadside assistance
While these protections aren't as comprehensive as those offered by premium travel cards, they still add value.
A Word of Caution: Interest Rates
Like most credit cards, the Amazon Prime Rewards Visa can have a high-interest rate. Always pay your statement balance in full and on time to avoid interest charges.
If you're using the monthly installment plan, pay close attention to the "interest savings balance" on your statement. Paying this amount ensures you won't accrue any interest.
Final Thoughts
I've personally earned a significant amount of cashback with this card, even covering my annual Prime membership fee! If you're a regular Amazon shopper and a Prime member, the Amazon Prime Rewards Visa is definitely worth considering.
Note: As of today, 10/09/2025, there may be specific limited-time offers available. Check the Amazon website for the most up-to-date details.
Let me know your thoughts on the Amazon Prime Rewards Visa in the comments below!
Disclaimer: I may receive a referral bonus if you sign up for the card through the link in the description.