Amazon Prime Rewards Card Will Cost More to Carry

The card that rewards Amazon Prime members with 5% back on Amazon and Whole Foods purchases — along with other benefits — just got more expensive.

While the Amazon Prime Rewards Signature Card itself doesn’t charge an annual fee, you have to be an Amazon Prime member in order to get it. And Amazon has announced that starting May 11, Amazon Prime membership will go up to $119 a year from $99. For those renewing their memberships, the price change will take effect June 16. The rate for monthly Prime members will remain the same at $12.99 per month.

The Amazon Prime Rewards Signature Card also earns 2% back at restaurants, gas stations and drugstores and 1% back on other purchases. For consumers who shop frequently at Amazon and Whole Foods, it’s a competitive card, helping them earn rewards for everyday household purchases and groceries. Those without Prime memberships are eligible for the lower-tier Amazon Rewards Visa Card, which earns 3% back at Whole Foods and on Amazon purchases. Amazon acquired Whole Foods Market last year.

Rewards show up as credits automatically in customers' Amazon accounts and can be applied to purchases. Points can also be redeemed for cash back, gift cards and travel though cardholders' online accounts with Chase, which issues the card.