If you're an Amazon customer, you might have heard of their credit card products. The Amazon credit cards are designed to help you earn maximum benefits while enjoying your online shopping.
The Amazon Prime Rewards Visa Signature credit card offers a ton of benefits that can save you money and time. If you use your Amazon credit card wisely, these rewards could quickly add up to hundreds of dollars in savings.
This article presents you with everything you need to know about the credit card, including the benefits, the application process, and the fees and interest associated with it.
Introduction to the Amazon Prime Rewards Visa Signature Credit Card
The Amazon Prime Rewards Visa Signature credit card is a credit product from Amazon that offers Amazon Prime members exclusive perks in the form of gift cards, points, and cashback bonuses.
Using this card will reward you for every dollar you spend on Amazon in purchases of everyday items like groceries, gas, drugs, and clothing.
The card has features that protect you from fraud and theft, waives several monthly and annual fees, and even offers special perks for military personnel. Moreover, you also reap inflated rewards and exclusive bonuses related to worldwide travel, making your use of it around the world even more convenient.
In this article, we will dive deeper into each of these perks and benefits so you can easily decide whether to apply for the card or not.
Expand Your Amazon Shopping Experience With Major Rewards and Cash Back Bonuses
Starting with the main product offerings, the Amazon Prime Rewards Visa Signature credit card presents you with an instant $100 gift card reward immediately after you get approved for it. Also for a limited time, Prime Rewards Visa cardholders earn a whopping 10% cash back on a rotating category of items.
Amazon Prime members then earn a 5% cash back on all purchases at Amazon and Whole Foods Market. Restaurant, gas station, and drugstore purchases reward 2% cash back, while all other purchases earn 1% in cash back.
The Amazon Prime Rewards Visa Signature credit card also comes with zero annual fees and zero foreign transaction fees, allowing you to freely use it at any international store, whether online or offline.
Protection Against Fraud and Theft
You enjoy zero fraud liability protection that helps you avoid taking up more debt from unauthorized use of your card.
Purchase Protection also helps you avoid taking up the credit of your card over the first 120 days of issuance. This gives you protection over theft with $500 per claim and $50,000 per credit card account.
Travel-Oriented Features of the Amazon Prime Rewards Visa Signature Credit Card
Aside from its gift cards and cashback bonuses, the Amazon Prime Rewards Visa Signature credit card focuses on providing you with amazing travel-related benefits. The breadth of these coverages offer peace of mind to people who travel frequently.
The Amazon Prime Visa Signature credit card gives you the best rate and automatic room upgrades from over 900 luxury hotels around the world.
You also enjoy concierge services for sports and entertainment events and dinner reservations at top restaurants. Some other features of and one-year extended warranty protection on eligible warranty products.
Perhaps the best of these is the Travel Accident Insurance which you are eligible to enjoy if you pay for bus, air, train, and sea transportation using the card. In addition, you have access to $500,000 worth of insurance on death or dismemberment from accidents.
The Amazon Prime Rewards Visa Signature credit card also comes with Travel and Emergency Assistance. These are paid legal and medical emergency services that help you with your stay in unfamiliar foreign countries.
When you or a family member loses a piece of luggage or there's damage to it, you also have a Lost Luggage Reimbursement benefit of up to $3,000 per person.
Baggage Delay Insurance provides you with a daily $100 reimbursement for up to 3 days for essential toiletries and clothing for baggage delays of over 6 hours.
Car Rental Insurance
The Amazon Prime Rewards Visa Signature credit card credit offers car rental coverage which includes Auto Rental Collision Damage Waiver and Roadside Dispatch for car breakdown emergencies.
How Can You Apply for the Amazon Prime Rewards Visa Signature Credit Card?
To get the Amazon Prime Rewards Visa Signature credit card, you must have an Amazon Prime account. If you do, sign into it and proceed to request the card by clicking the "Apply Now" button. Provide details of the information requested from you, such as your name, mobile number, address, and Social Security number, among others.
If you don't have one, you may create a new Amazon account and subscribe to Amazon Prime to be eligible for the card.
On the application page, you also sign a Cardmember Agreement before you are allowed to go on with the application process.
Only Amazon Prime members enjoy the Amazon Prime Rewards Visa Signature credit card benefits. If you are not an Amazon Prime member and do not wish to become one, you are only eligible for the regular Amazon Visa credit card.
More Information on the Amazon Prime Credit Card Application
Amazon Prime Rewards Visa Signature credit card applications are only processed online and through Chase Bank. The bank serves as the financial administrator for the logistics and approval process of the cards.
This approval process takes two to four weeks, and Amazon recommends you don't make inquiry calls until after two weeks of application.
Although other banks have tried to be a part of the Amazon credit offer, the partnership with Chase Bank is more about the close relationship between Jeff Bezos and Jamie Dimon, the CEO of JP Morgan. A recent renewal in 2022 means we expected this partnership to continue well into the future.
Applicable Fees and Interests
The Amazon Prime Rewards Visa Signature credit card comes with zero sign-up fees, zero annual fees, zero foreign transaction fees.
Besides this, the card some with a variable APR of 18.74% to 26.74%.
Balance transfers come with an APR of 18.74% to 26.74% and a balance transfer transaction fee of 4% of the transaction amount, or $5 whichever is greater.
Cash advances come with an APR of 29.49% and a cash advance transaction fee of 4% of the transaction amount, or $5 whichever is greater.
Late and return payments are subject to a fee up to $39.
Amazon Prime Rewards Visa Signature Credit Card Eligibility Criteria
To be eligible for this card, apart from being an Amazon Prime member, you also need a good credit score of at least 670.
Your credit score is the most important factor considered by Chase Bank (Amazon's credit card administrators). You must also be 18 years or older to qualify for the card.
Disadvantages of the Amazon Prime Rewards Visa Signature Credit Card
The only downside to the Amazon Prime Rewards Visa Signature credit card is your Amazon Prime membership or, more specifically, the cost of your Amazon Prime membership.
To maintain your membership, you pay a subscription fee of $139 per year. Undoubtedly, this is why the claim of "zero annual fees" on the card may be disputed. Nonetheless, you still enjoy other Amazon Prime benefits, so getting the card is still it.
Address and Contact
Amazon is headquartered in Seattle, Washington at 410 Terry Ave N. For the credit card, all processes are completed online.
You may contact the customer service operatives to make inquiries through 1-866-634-8379, which is available 24 hours a day.
In case you want to make a physical complaint or inquiry at a Chase Bank branch near you, you may use its official Branch Locator.
Other Specific Benefits
Thanks to the Military Lending Act, members of the armed forces and their dependents are protected against high-interest rates. As a result, the interest rate charged on extending credit to these individuals does not exceed 36%.
Additionally, all credit-worthy residents of the State of Ohio enjoy the same credit offers on the card regardless of differences in credit scores.
The Amazon Prime Rewards Visa Signature credit card is an excellent option for existing Amazon Prime members that would love to merge their credit card services with Prime benefits at no extra cost. If you are an Amazon Prime subscriber that also loves to travel, consider this credit card to enjoy more benefits.
Note: Consider the risks involved in using credit products before applying by consulting the issuing institution’s terms and conditions.