If you often shop on Amazon, and the average monthly spending is not less than $250, then Amazon Prime Store Card is worth applying for. Because the 5% cash back on the Amazon Prime Store Card allows you to earn the cost of subscribing to Amazon Prime.
Don’t know what the Amazon Prime Store Card is? What are the benefits of applying for a card? The following content can give you a good understanding of the Amazon Prime Store Card.
What is the Amazon Prime Store Card?
Amazon Prime Store Card is a shopping credit card set up by Amazon for those who have Amazon prime membership and want to get cash back for shopping on Amazon. This card is issued by Synchrony Bank and has a $0 annual fee.
But it’s not Amazon’s only credit card. Amazon also has the Amazon Prime Rewards Visa Signature Card. There is a comparison of the two credit cards at the end of the article.
What are the advantages of Amazon Prime Store Card?
- Get a Free Amazon Gift Card
To encourage consumers to apply for the Amazon Prime Store Card, Amazon is giving away a $100 gift card to new cardholders. When you are approved for the Amazon Prime Store Card, Amazon will automatically give it away.
Sometimes, to promote the Amazon Prime Store Card, Amazon will reward up to $200.
- Get 5% cash back on every purchase
Under normal circumstances, Amazon prime members cannot get cash back by using other payment methods. Only by paying for orders through Amazon Prime Store Card can they get 5% cash back.
Cashback can be used directly on Amazon purchases or redeemed as a credit on your card statement.
Assuming you spend $5,000 a year on Amazon, you’ll easily save $250 with the Amazon Prime Store Card.
- 2 Special Promotional Financing Available
When you purchase $150 or more, you can choose to get 5% cash back or use promotional financing. Where promotional financing includes special financing and equal payments
- Special Financing: You will have 6, 12, or 24 months (depending on the amount of your order) to pay off your item. No interest will be charged if you pay it off within that period.
- Equal Payments: You will have 6, 12, or 24 months (depending on the amount of your order) to make fixed monthly payments. No interest will accrue if you pay off the plan as planned.
However, if it is not paid off within the specified time, interest will be calculated from the date of purchase.
For example, suppose you purchased $200 of merchandise on January 1st and used special financing to pay for the order. You set up 6 months to pay off the debt. But if you delay your debt or don’t pay it on time, you’ll accrue interest from January 1 until you pay it off.
- No annual fee
You do not need to pay an additional annual fee to apply for the Amazon Prime Store Card. The annual fee for the Amazon Prime Store Card is already included in the Amazon prime membership. In other words, if you are not an Amazon prime member, you are not eligible to apply for the Amazon Prime Store Card.
If you spend more than $3,000 a year (an average of $250 per month), you will be able to earn Amazon prime membership fees back.
What to look out for with the Amazon Prime Store Card?
- Prime membership is required to apply for the Amazon Prime Store Card
You need to be a prime member to be eligible for the Amazon Prime Store Card. This is very easy to understand. People with Amazon Prime Store Cards love to spend on Amazon more on Amazon prime members, so they can get more benefits from Amazon than Amazon prime members or non-members. This is essentially a difference in membership levels.
- Be wary of the risk of delayed interest
All credit cards are the same, and they all need to be alert to the risk of deferred interest. For the Amazon Prime Store Card, consider the variable APR of 28.24%. Simply put, if there is a deferred exchange, you will have a high-interest risk. Therefore try to avoid using special financing payment methods.
- The Amazon Prime Store Card only works with Amazon
Like all mall-independent cards, each mall card is limited to shopping at that mall. So you can’t use Amazon Prime Store Card in Costco or Walmart.
Who needs to apply for Amazon Prime Store Card?
Amazon provides eligibility for the Amazon Prime Store Card for those who have Amazon prime membership. If you often shop on Amazon and the shopping amount is relatively large, it is very recommended to apply for Amazon Prime Store Card to get 5% shopping cash back.
Moreover, the Amazon Prime Store Card does not require an annual fee, and there is no need to worry about being charged an additional annual fee due to too many cards.
Is the Amazon Prime Store Card a real credit card?
Yes. The Amazon Prime Store Card is a real credit card and works just like any other type of credit card. But it is worth noting that the Amazon Prime Store Card can only be used on Amazon, and the card is not accepted in other stores.
For example, you can’t use the Amazon Prime Store Card at Walmart.
Where can the Amazon Prime Store Card be used?
The following websites are all acceptable to use Amazon Prime Store Card and get 5% cash back;
- Amazon.com (Retail and Marketplace)
- Amazon Business
- Amazon Prime membership
- Amazon Go
- Amazon Bookstore
- Amazon’s 4-star stores
- Alexa Skills
- Amazon Pay
- Amazon Fresh
How should I get cash back?
The 5% cash back you get when you use the Amazon Prime Store Card as a payment method cannot be used for direct cash withdrawal. You can only use it as a credit for your next purchase on Amazon or redeemed it as a credit on your card statement.
Amazon Prime Store Card compared to similar cards
Amazon has two main credit cards that are relatively common, Amazon Prime Store Card and
Amazon Prime Rewards Visa Signature Card. Below is a comparison of the two different cards.
Amazon Prime Store Card
Amazon Prime Rewards Visa Signature Card
$100 Amazon gift card
$150 Amazon gift card
5% cashback on Amazon purchases
Amazon prime membership required
17.24% to 25.24% APR
In general, the advantages of the Amazon Prime Rewards Visa Signature Card will be greater than Amazon Prime Store Card. However, since the Amazon Prime Rewards Visa Signature Card is issued by Chase, it is subject to the Chase 5/24 rule.
What is the Chase 5/24 rule? Chase automatically declines applicants for credit cards with 5 or more credit cards from any issuer in the past 24 months. You can check when you opened credit in the past through your free LendingTree account.
If you open more than 5 credit cards in 24 months, you cannot apply for Amazon Prime Rewards Visa Signature Card.
If you still want to get the 5% cash back on your Amazon purchases, you might consider applying for the Amazon Prime Store Card.
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