Amazon Credit Cards Will Soon Get More Rewarding
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Both consumer Amazon credit cards issued by Chase are undergoing a big overhaul. Starting May 1, 2023, the cards will have new rewards structures, welcome offers, benefits, card designs and names.
The revamped Amazon cards will have a new feature called daily rewards, which allows cardholders to earn, view and redeem rewards daily rather than monthly. This move means those Amazon cards will belong to a select credit card group that gives instant rewards.
In addition, both cards will now earn 2% on transit, commuting and ridesharing services, while the 2% rate at drugstores is being nixed.
The Amazon Prime Rewards Visa Signature Card, whose name is changing to Prime Visa, is the more premium of the two cards. To get it, you must have an Amazon Prime subscription, which costs $139 per year.
Amazon offers four additional credit card options in addition to these two consumer cards issued by Chase. Synchrony offers two closed-loop cards (that can only be used at Amazon) and American Express offers two business credit card versions.
Here’s an overview of how the Amazon Prime Rewards Visa Signature Card is changing.
Current: Amazon Prime Rewards Visa Signature
After May 1, 2023: Prime Visa
$100 Amazon gift card.
Limited time offer: $150 Amazon gift card and earn 5% back on all purchases, up to $2,500, for three months after account opening.
The new welcome offer, while only good for a limited time, is another improvement to the Amazon Prime Rewards Visa Signature Card. If you hit the spending threshold of $2,500, you’d earn $125 in rewards and the $150 Amazon gift card.
The Amazon Rewards Visa Signature Card is also getting a refresh. You don’t need a Prime Membership to get this card, but the rewards rates are lower compared to those with the Amazon Prime Rewards Visa Signature Card.
Here’s an overview of the changes to the Amazon Rewards Visa Card.
Current: Amazon Rewards Visa Signature Card
After May 1, 2023: Amazon Visa
$50 Amazon gift card.
Limited time offer: $60 Amazon gift card and 3% back on all purchases, up to $1,500, for three months after account opening.
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