The real appeal of this card, however, is its high cash-back rewards rate on Amazon purchases. You get a $100 Amazon gift card when you sign up, which is about half the value of most other cash-back cards’ new-cardholder bonuses. But if you are already a Prime member and your spending is already concentrated in the Amazon ecosystem, this card could be a great way to offset the cost of your Prime membership and rack up some pretty generous rewards. While a 5% cash back rewards rate on Amazon purchases is great for people who are already Prime members, we don’t expect anyone to run out and sign up for a $139 annual membership just to get this card. No promotional APR available for new purchases and balance transfers.
Here are some other key points to keep in mind about the Amazon Prime Rewards Visa Signature: While Buy Side from WSJ judges cash back credit cards primarily based on their rewards offers, it’s important to understand all the terms and conditions. If you have a Journal reader’s typical credit card spending habits and half of that-or $1,500 a month-takes place at Amazon, you can earn even more: $1,080 in cash back per year. That is a total of $760 a year in rewards and more than enough to cover the cost of Prime membership. And even if the remainder of your spending wasn’t in categories that earn 2% cash back, you would still earn another $260 with the 1% cash back on other purchases. Here’s the math on this card: If you charge $3,000 a month like the typical Wall Street Journal reader does, and then you spend $10,000 at Amazon over the course of the year (or roughly $830 a month), you would earn $500 cash back in a year-just on Amazon purchases you’re already making. In addition, spending at restaurants, gas stations and drugstores earns 2% cash back and all other purchases earn 1% cash back.
The big draw for heavy Amazon users is the unlimited 5% cash back rewards you get on Amazon purchases (as well as Whole Foods purchases, both in-store and online). The Amazon Prime Rewards Visa Signature card doesn’t charge an annual fee, but you do have to be a member of Amazon Prime, which currently costs $139 a year (or $14.99 a month.) If you run a balance, you also will pay between roughly $14 and $20 each month per $1,000 borrowed, depending on your APR. If, however, you’re not a die-hard Amazon or Whole Foods fan, you can easily find a card with a higher base rewards rate than the 1% this card offers, as well as cards that offer generous bonus rates (if not quite 5%) in certain spending categories, including groceries-and not just at Whole Foods. Annual fee: Must be Amazon Prime member (costs $139 a year).Sign-up bonus: $100 Amazon gift card for eligible Prime members.Bonus rewards: 5% at and Whole Foods Market 2% back at restaurants, gas stations and drugstores.
0 kommentar(er)
