New Amazon Prime Rewards Credit Card Earns 5% Back at Amazon.com

Chase has introduced a new Amazon Prime Rewards Visa Signature Card and made some changes to their existing Amazon Rewards Card.

The Amazon Rewards Card is one of the biggest portfolios that Chase has — because it’s marketed to everyone checking out at Amazon. And it will no longer add foreign transaction fees.

Both cards have no annual fee. The Amazon Prime Rewards card is available only to Amazon Prime members, and existing Prime customers who have the Amazon Rewards Card will be product-changed to the better new card.

Here’s earning:

In order to keep earning 5% back a Amazon you have to keep your Prime membership. You’ll drop to 3% earning if you remove the Amazon co-brand card from your Amazon account, close your Amazon account, or link a different card account to your Prime membership.

This new product has a $70 Amazon gift card signup bonus. 5% back at Amazon for a no annual fee card (though it does require being a Prime member which isn’t free) is pretty good especially since you can buy most everything at Amazon. However I still have a card that earns 5 points per dollar at office supply stores where I can buy Amazon gift cards, and I’d rather earn points transferrable to miles than points worth a penny apiece.

(HT: Sarah Silbert who says the new product is metal.)

About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community Milepoint.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Comments

  1. Once Ink goes down to 3x for office supply stores, this will be a useful card.

    From the T&Cs:

    “Buying products and services with your card, in most cases, will count as a purchase; however, the following types of transactions won’t count and won’t earn points: balance transfers, cash advances, travelers checks, foreign currency, money orders, wire transfers or similar cash-like transactions, lottery tickets, casino gaming chips, race track wagers or similar betting transactions, any checks that access your account, interest, unauthorized or fraudulent charges, and fees of any kind, including an annual fee, if applicable.”

    Wonder if that includes gift cards?

  2. Others can just buy Amazon gift cards whenever Discover / Chase Freedom / etc run quarterly promo for Amazon.

  3. Do you think the chase points (by buying Amazon gift cards at OfficeMax) are worth more than 5% cash back?

  4. Amazon has a private store card (Amazon only) that is 5 percent as well. Doesn’t count against Chase card limits.

  5. does this product allow you to take the 5% in points to other Chase accounts, or is it strictly 5% cash rebate, on Amazon account? or to the credit card?

  6. The Amazon card was my first cashback card, held since 2009. At the time it was the best cashback card EVER (for people who shopped on Amazon, anyway). No minimum redemption, easy to use for full or partial payment at Amazon checkout (no screwing around with statement credits). And the 2x categories were great. It’s still the only card with a year-round drugstore category. With better options for everyday spend I don’t use it much nowadays, but I still treasure it. I’m thrilled that it’s being enhanced. I still have a healthy Amazon Gift Card balance, but when that runs out I’ll probably start using the new Amazon card (assuming they really send me one).

  7. Great card, but I wonder if it will put Discover It card out of business between July-December. Those months Discover It has Amazon in its 5% cash back categories. After reading the fine print, it mentions you can not use another 5% cash back card for Amazon. If you do, the Chase Amazon Prime card gets reduced to 3% for Amazon purchases.

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