Amazon’s new Visa Signature card gives Prime members 5 percent back
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If you are one of the 65 million people who currently pays $99 a year for Prime membership, Amazon wants to offer you the ability to earn more rewards on everything you buy at Amazon.com -- 5 percent back on Amazon.com purchases, to be exact. This offer comes in the form of a metal, Chase-issued, Amazon-branded Visa credit card, known as the Amazon Prime Rewards Visa Signature card.
“We are adding even more value to Prime by offering rewards on Amazon and everywhere else you shop,” Max Bardon, vice president of Amazon, stated in a press release.
Improved benefits for Amazon Prime members
Amazon Prime members who have an existing Amazon Rewards Visa Signature card -- which currently earns 3 percent back on Amazon.com purchases -- will automatically be upgraded to the new Amazon Prime Rewards Visa Signature card.
In addition to offering 5 percent back on items purchased at Amazon.com, the new card also provides 2 percent back at restaurants, gas stations and drugstores, as well as 1 percent back on all other purchases. Prime members can take advantage of the upgraded offer immediately by linking their Rewards Visa Signature card to their Prime account and continuing to make purchases with their current card until the new card arrives in the mail.
Amazon Prime Rewards Visa Signature card benefits include the following:
- 5 percent back on items purchased at Amazon.com
- 2 percent back on items purchased at restaurants, gas stations and drugstores
- 1 percent back on all other purchases
- A $70 Amazon.com gift card upon approval (not available to Amazon Prime members with a current Amazon Rewards Visa Signature card)
- No cap on rewards earned
- Rewards -- which never expire -- can be redeemed on hundreds of millions of products at Amazon.com
- No foreign transaction fees
- No annual fee
- Zero fraud liability
- Travel and purchase protections
- 24/7 Visa Signature concierge service
Although the Prime Rewards Visa Signature card carries no annual fee, customers must first sign up for Amazon Prime – which costs $99 per year -- in order to qualify for the card. However, current Prime members who already pay a membership fee may find the new offer worthwhile, as it will allow them to earn more rewards on purchases they were already planning to make.
The Amazon Prime Rewards Visa Signature card is the latest addition to Amazon’s card catalogue, which also includes the Chase Amazon.com Rewards Visa, the Amazon Rewards Visa Signature Card, and the Amazon.com Store Card.
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