5 Prime Day Traps to Avoid — and How to Score Savings

Amazon Prime Day — or days, rather — is upon us, with widespread discounts on Amazon products from July 8 to 11. But not every ‘deal’ is as lucrative as it looks.

Here’s how to shop smart this Amazon Prime Day so you can avoid the hype and actually nab a worthwhile bargain.

1. If it’s not on your list, it’s not a deal

It’s easy to get distracted by double-digit discounts, and right now, Amazon Canada is full-to-bursting. So, before you enter the fray, have a game plan. Make a list of potential items you’re interested in purchasing. As you build your list, ask yourself:

Would I buy this item at full price?
Have I ever thought about buying something like this before?
How much use will I get from this item over the next 90 days?
How much is too much for me to spend on this item?
Are there any items I buy on a routine basis from Amazon that could be worth stocking up on if I find they’ve been discounted for the event?

A wish list is a solid place to start, but this shopping strategy can be made all the more effective when paired with a spending cap.

2. Set a spending cap and hold the line

Growing up, my mom had a strict rule for her rare casino visits: she’d bring a set number of bills — typically amounting to $50 — and leave her credit and debit cards in the car. That way, she always knew exactly how much she could spend.

She also expected to leave empty-handed, so she only ever withdrew an amount she was comfortable losing.

Applying this same principle to Prime Day deal surfing can be an effective way to mitigate unintentional overspending. While Amazon doesn’t take cash, you can still set a spending cap intention that fits your budget and habits.

🤓 Nerdy Tip: Some financial institutions even let you set daily transaction limits on your debit and credit cards — a handy feature if you’re interested in more robust guardrails.

3. That ‘deal’ could be full price in disguise

Not all deals are created equal — or, happen to be deals at all, I’m afraid. Some speedy online sleuthing revealed several Prime Day ‘discounts’ matched by other online retailers — some of which aren’t even running any special promotions.

Take the Garmin Forerunner 255 Music smartwatch, for instance. Amazon is offering it for $319 — claimed as a 41% discount from its regular list price of $539.99. But as of this writing, Walmart Canada is selling the same model for $319 with no mention of a markdown.

Here’s another example: the DJI Mini 4 Pro Fly More Combo with DJI RC 2, a popular drone model, is currently listed on Amazon for $1,149 — a 20% discount from $1,429. But the same drone is available for $1,149 on the Vistek and Visions Electronics websites — both with free shipping — though these sites clearly mark it as a sale.

At the end of the day, there may be worthwhile Prime Day deals to be had, but do your research and compare before you commit.

CamelCamelCamel and Keepa track historical Amazon prices, helping you spot inflated prices or misleading discounts. The latter is a tactic under increased scrutiny by Canadian authorities.

In fact, the Competition Bureau of Canada is currently investigating Amazon.ca for possible abuse of dominance under the Competition Act — a stark reminder that not every ‘deal’ on Amazon is indeed as competitive or legitimate as it seems.

The bottom line? Amazon isn’t the only game in town. Comparison shopping is always in your best interest.

4. Buy now, pay more later? Do the math first

You’ve made a list, set a spending cap, and confirmed your cart items are priced competitively. Now you’re ready to check out. But how will you pay?

Amazon Canada offers a buy now, pay later option for Canadians via Affirm, letting you split the cost of your purchase into smaller payments over a set period of time instead of paying upfront.

Convenient, right? Sure, but there are a couple of caveats. First, your purchase must meet a minimum threshold, starting at $50, to qualify.

Next: interest fees will impact your savings. Affirm’s rates range from 10% to 30%, which is considerable. Depending on your repayment term, those fees could displace the dollars saved by the original discount.

Read the fine print, do the math and think carefully before using one of these buy now, pay later services, because you may not end up coming out ahead.

5. Deals fade and debt is sticky — have a repayment strategy

Once the initial rush of deal-nabbing fades, you’ll be left with the bill. Using a rewards credit card may net you some points or cash back, but it can be risky. Credit card debt has a way of hanging on, with 54% of Canadians reporting that they currently carry credit card debt, according to NerdWallet Canada’s 2025 Consumer Credit Report.

Credit card interest can also eat into your savings and rewards. Given enough time, these charges will wipe out your gains. If you put Amazon Prime Day purchases on credit, have a repayment plan ready. A deal is only a deal if it’s one you can afford in the long run.

It’s possible to come out ahead on Amazon Prime Day, but only by shopping on your terms. Make a list, set spending caps, do your research and have a plan to pay back what you spend. This way, the savings stick long after the flashy, short-lived discounts have faded.