Comparing All Amazon Cards — Which One is Worth it?

FT Contributor  | 

Amazon has changed the retail industry. The online shopping giant racked up $232 billion in net sales in 2018. In 2000, net sales were $2.7 billion, so the company has experienced almost-unheard-of growth over the past two decades.

Nearly everyone shops on Amazon, at least occasionally. For this reason, the various credit cards associated with Amazon may offer benefits shoppers can take advantage of to earn useful rewards and other perks.

Amazon has four credit cards. The one that best fits your needs depends on variables such as the frequency of Amazon purchases, the items that you usually buy, and what other purchases you make online and at brick-and-mortar stores.

Amazon Rewards Credit Card

The Amazon Rewards credit card is for people who do not need to sign up for Amazon Prime.

How Does the Amazon Rewards Credit Card Work?

The Amazon Rewards card is from Chase. It does not have any annual fee, and you can use this card just like a regular credit card on Amazon.com and anywhere else that accepts credit cards.

Amazon Rewards Credit Card Benefits

The Amazon Rewards Credit Card offers 3% cash back on Amazon.com purchases. You can also get 3% back at Amazon-owned Whole Foods. Additionally, you get a 2% cash-back bonus at drug stores, restaurants, and gas stations. All other purchases provide 1% back. You can receive a $50 Amazon gift card as a bonus once your application gets approved.

Amazon Rewards Card Credit Approval

You can qualify for the card with a “good” credit score, which means a credit score of approximately 690. You apply for the card just as you would any other credit card.

Amazon Rewards Credit Card Annual Fee

This card does not have an annual fee or any Amazon Prime membership requirements.

Is the Amazon Rewards Credit Card Worth It?

The Amazon Rewards credit card offers 3% cash back on Amazon without an annual fee or membership requirements. If you don’t have a use for an Amazon Prime membership, then this card is your best option. The Amazon Visa Signature Card offers 5% cash back, but requires an Amazon Prime membership, which costs at least $119 per year.

Amazon Prime Rewards Visa Signature Credit Card

The Amazon Prime Rewards Signature Card is available to Amazon Prime members.

How Does the Amazon Prime Rewards Visa Signature Credit Card Work?

The Amazon Prime Rewards Visa Signature Card is a Visa credit card issued by Chase. In addition to using this card for Amazon purchases, you can use it anywhere else that accepts credit cards.

Amazon Prime Rewards Visa Signature Credit Card Benefits

The Amazon Prime Rewards Signature Visa provides 5% cash back for all purchases on Amazon and at Whole Foods. The card does not have an annual fee, but you do need to be an Amazon.com Prime member. The Signature Visa provides 2% cash back on purchases at restaurants, gas stations, and drug stores. You also get 1% cash back on all other purchases. After approval, you get a $70 Amazon gift card.

Amazon Prime Rewards Signature Card Credit Approval

You need a credit score in the 690-or-above range to qualify for this card.

Amazon Prime Rewards Signature Credit Card Annual Fee

The Amazon Prime Rewards Signature Card does not have an annual fee. However, you need to be an Amazon Prime member to apply. Amazon Prime memberships are $119 per year.

Is the Amazon Prime Rewards Signature Credit Card Worth It?

If you shop on Amazon frequently, this card can provide significant value. However, you need to spend over $400 per month to get more value than you would with the Amazon Rewards card from Chase, which only offers 3% cash back, but does not require a Prime membership.

Amazon.com Store Card

The Amazon.com Store Card is for Amazon.com purchases.

How Does the Amazon.com Store Card Work?

The Amazon Store Card is a charge card for Amazon purchases. Synchrony Bank issues it to Amazon shoppers who apply. You use it like a credit card when checking out at Amazon.com.

Amazon.com Store Card Benefits

The main benefit of the Amazon Store Card is that you can qualify for financing on large purchases. You can get six months of financing for purchases of $149 or more and 12 months for purchases of $599 or more. Some select purchases qualify for two-year financing. You need to make a minimum monthly payment and pay off the balance by the due date to avoid interest charges. Interest charges may be high if you do not make minimum payments and pay off the balance on time.

Amazon.com Store Card Annual Fee

This card does not have an annual fee, and you do not need to be an Amazon Prime member to apply.

Is the Amazon.com Store Card Worth It?

If you only want to use your credit card to shop on Amazon, this card can be a good deal because it offers interest-free financing without any annual fees or membership requirements. However, if you want to earn rewards for shopping elsewhere, you would be better off getting a rewards credit card.

Amazon Prime Store Card

The Amazon Prime Store Card is for Prime members.

How does the Amazon Prime Store Card Work?

Synchrony Bank issues the Amazon Prime Store Card. You can use the card for purchases on Amazon.com.

Amazon Prime Store Card Benefits

Like the Amazon Store Card, the Amazon Prime Store Card offers financing options for purchases over $149. For purchases less than $149, you can earn 5% cash back. You also have to option of accepting either the 5% or zero-interest financing for larger purchases.

Amazon Prime Store Card Annual Fee

The Amazon Prime Card does not have an annual fee, but you do need to have an Amazon Prime membership, which costs $119 per year to qualify.

Is the Amazon Prime Store Card Worth It?

If you have an Amazon Prime membership, you can benefit from the interest-free financing and 5% cash back. However, if you only shop on Amazon occasionally, a card that does not require a Prime membership could offer better value.

Amazon has multiple options for cards, so you can easily find one that matches your online spending habits and provides the best overall value.


Image Source: https://depositphotos.com/

This post was updated December 2, 2019. It was originally published December 2, 2019.