Posted by sirtheta on January 11, 2017
Credit Card Review

Published on January 11th, 2017 | by sirtheta

46

Chase Amazon Prime Rewards Card Review – 5% Back on Amazon

About a week ago, ads starting popping up for a new Chase Amazon Prime Rewards card. It’s been officially released today, and is largely similar to the current Chase Amazon Rewards card.

Direct Link to card

Offer Details

An important prefatory note: if you already have the Chase Amazon card, you do not need to apply for the Amazon Prime Rewards card to earn 5% back. Most eligible Prime members have been automatically upgraded to the Amazon Prime Rewards card and will receive a new card with the new design in the mail (you likely have an e-mail from Chase with the subject “Your card just got better”). If you weren’t automatically upgraded, you can learn how to earn 5% back here, by linking your Amazon.com Prime membership.

As the Amazon Rewards card is not subject to 5/24, the Amazon Prime Rewards card should not be either.

As always, remember that we do not use credit card affiliate links, so our review is not biased by monetary incentives.

Card Basics

Benefits

Earning Structure

  • Earns 5% back at Amazon.com with an eligible Prime membership
  • Earns 3% back at Amazon.com without an eligible Prime membership
  • Earns 2% back at restaurants, gas stations, and drug stores
  • Earns 2% back at office supply stores through May 31, 2017
  • Earns 1% back on all other purchases
  • Amazon may offer you ways to earn bonus points through the program or special promotions.

Signup Bonus

Upon approval, an Amazon.com gift card will be loaded into your Amazon.com account. The value of the gift card should vary from account to account (and may change over time). With the Amazon Rewards card, accounts with Prime memberships generally receive a better gift card offer than accounts without Prime.

I see an offer for a $70 Amazon gift card. Let us know in the comments what your offer is.

Pricing Details

APRs

  • Purchase & Balance Transfer APR: 14.74% to 22.74%*, based on your credit worthiness
  • Cash Advance & Overdraft Advance APR: 25.49%*
  • Penalty APRs: Up to 27.24% depending on your credit worthiness/score
    • Applies if you make a late payment
    • Can apply indefinitely
  • Grace period: 21 days (minimum, up to 28 days)
  • Minimum interest charge: None

* Note: for purchases & balance transfers, Chase adds 10.99% – 18.99% to the Prime Rate. For cash advances, Chase adds 21.74% to the Prime Rate. The Prime Rate is 3.75% as of 12/15/2016. The Pricing & Terms currently indicates APRs that are 0.25% lower than the product description on Amazon because Chase has not updated the page to take into account the new Prime Rate.

Fees

  • Annual fee: None
  • Balance transfer fee: $5 or 5% of the amount of each transfer, whichever is greater.
  • Cash advance fee: $10 or 5% of the amount of each transaction, whichever is greater
  • Foreign transaction fee: None
  • Late payment fee: Up to $15 for balances <$100; up to $27 for balances >=$100 but <$250; up to $37 for balances >=$250
  • Returned payment: Up to $37
  • Over credit limit fee: None

Application Information

Please feel free to add your own application information in the comments at the end of this review.

What Credit Score Is Required

Using data for the Amazon Rewards card from the last two years from Credit Boards:

Lowest approved score 640
Average approved score 693

What Credit Bureau Does Chase Pull For?

This depends on what state you live in, you can view that information here.

What Credit Limit Will I Receive?

Using data for the Amazon Rewards card from the last two years from Credit Boards:

Minimum CL Highest CL Average CL
$800 $8,500 $2,929

The minimum possible credit limit should be $500. Be aware that if you are approved with a credit limit under $5,000, you should receive a Visa Platinum card instead of a Visa Signature card (although that may not be the case).

Rewards Program

Just like the Amazon Rewards card, this card earns points instead of cash back, but it is stylized as % cash back since 1 point = 1 ¢. You earn 5% back (5x points) if you have an eligible Prime membership and 3% back (3x points) if you do not. Do be aware that, each Chase Amazon Prime card can only be linked to a single Amazon account with an eligible Prime membership for 5% cash back. From my understanding, this means that you only get 5% back when the card is used with your linked Amazon account, and not when used with other Amazon accounts. According to reader Ryan, as long as your eligible Prime account is linked to your non-Prime account, you will get 5% back.

By default, the Amazon.com account you are signed into when you apply is used to determine your eligibility for 5% back. Eligible Prime memberships include: annual and monthly Amazon Prime subscriptions and members of their Amazon Household (excluding Amazon Prime Video and invited guests of an Amazon Prime account), Amazon Prime Fresh, Amazon Family, Amazon Prime Student and trial memberships of Amazon Prime.

5% or 3% back is only earned on purchases made at Amazon.com (including digital downloads, Amazon.com Gift Cards, Amazon Fresh orders, Amazon Prime subscriptions, and items sold by third-party merchants through Amazon.com’s marketplace). 5% Back or 3% Back is not earned on purchases from merchants using Pay with Amazon, or purchases made at international Amazon retail sites (including but not limited to Amazon.ca, Amazon.co.uk, Amazon.de, Amazon.fr, or Amazon.co.jp), or any other website operated by Amazon.

Just like the Amazon Rewards card, this card also earns 2% back at office supply stores (through May 31, 2017), restaurants, gas stations, and drug stores, and 1% back on all other purchases. Amazon may offer you ways to earn bonus points through the program or special promotions.

Points do not expire as long as your account remains open.

Redeeming Rewards

Your point balance is linked to your card and can be used to Shop with Points when checking out at Amazon.com, at a value of 1 ¢ per point (note: this is not the same as Shop with Points using Ultimate Rewards points, which have a value of 0.8 ¢ per point). There is no minimum required when redeeming points this way—but you’ll only earn 5% on the net purchase total (purchase total minus cash value of points redeemed), instead of 5% on the total amount of the purchase.

You can also redeem your points for cash, at a value of 1 ¢ per point, starting at 2,000 points. You can request an account statement credit or an electronic deposit into an eligible checking or savings account held by a financial institution located in the United States.

Our Verdict

It is possible to get 5% back at Amazon if you have a card that gives 5% (or more) back at merchants that sell Amazon gift cards. And, the signup bonus of $50 – $100 is small potatoes even compared to most credit card bonuses with low spend requirements.

That said, it’s hard to beat the convenience of the Amazon Prime Rewards card. For the average non-churner, this is a fine card to get & a keeper for anyone that has one.

Check our list of Best Credit Cards For Amazon Purchases – Up to 5x Points/5% Cash Back for other good Amazon options. And always check out this post for Things to Know about Chase Credit Cards before applying.

Chime in below with any questions or comments and I’ll happily answer them.



46 Responses to Chase Amazon Prime Rewards Card Review – 5% Back on Amazon

  1. Llllll3 says:

    Anyone know if it is possible to PC to this from one of the southwest cards?

  2. AB says:

    This card is probably better than buying a GC because it would give you purchase protection. But even though you can exceed 5/24 and still get it, it does count towards 5/24, so people may not want to rush out to get it.

    My question is what happens to the Amazon “store” card now? Do they up their 5% rebate?

  3. JF says:

    Can I PC my CSP into this card? My anniversary is coming up, and this card would serve me better than the Freedom Unlimited.

  4. Ryan says:

    I have both a prime (personal) and non-prime (business) accounts. The card is linked to my personal card and says it will earn 5%. I added it to my non-prime account and it also says it will earn 5%. I haven’t made a purchase to test this out.

  5. Anti-Prime says:

    Meh. I have no prime.

  6. Dave says:

    Amazon had a link to upgrade my Chase card in the payment options.
    Good for 5% now.

  7. Aaron says:

    “For the average non-churner, this is a fine card to get & a keeper for anyone that has one.” Indeed. May not appeal to us churner types, but I have a feeling this’ll be an attractive offer for your run-of-the-mill, just-want-a-card-to-save-me-a-few-bucks folks.

  8. Zw says:

    Too bad this card is not earning UR points. I will just continue to buy stuff on Amazon on Citi ATT or US BANK Cash +

  9. kneebiter says:

    Received the $70 gift card after instant approval: ~800 credit score, $10k credit limit with $5k available immediately.

  10. Abey says:

    I see $70 (I’m a prime member).

  11. Adam L says:

    I have both this card and the Synchrony Amazon Store card. Both now earn 5%. Any reason to use this one over the Synchrony? Advantages I can think of for Synchrony would be automatic percentage back statement credit at the end of the month (less maintenance), and also you can see the products that are tied to each charge in your online activity on Synchrony website, which is good for reconciling accounts in budgeting software.

    • sirtheta says:

      I’m not familiar with the benefits of the Synchrony Amazon Store card, but I assume they are non-existent. So, the Visa Signature benefits would be the only reason to use it on Amazon over the Synchrony card—specifically, the extended warranty protection. Other than that, I don’t see a reason.

      “When you use your covered Visa Signature card for your purchase, Warranty Manager Service will extend the life of your existing U.S. manufacturer’s warranty of 3 years or less. For warranties of less than one year, the term is doubled; for warranties of 1 year up to 3 years, the warranty is extended for an extra year.”

    • sybloc says:

      Synchrony gives you 5% even if you’re not a Prime member.

      • Roman says:

        That’s incorrect according to the Amazon Store Card description:

        Join Prime and earn 5% back every day
        Amazon.com Store Cardholders who join Prime are automatically upgraded to the Amazon Prime Store Card.

        Amazon Prime Store Cardholders can earn 5% back, as a statement credit, on Amazon.com purchases. If you cancel your Prime membership at any point, you will remain an Amazon.com Store Cardholder and can still access promotional financing offers.

  12. Josh M says:

    Prime member $70 for me, This is a solid card especially with Sallie Mae Mastercard going away.

  13. Cytraveler says:

    Thanks for the heads up! We had this card from 10 years ago and hadn’t been automatically upgraded yet.

  14. Jason says:

    Prime membership is effectively the AF for this card (at least if you want it at 5% rewards).

    • sirtheta says:

      That’s true. Overall though, I think the vast majority of people have Prime memberships for non-card related reasons and wouldn’t upgrade to Prime solely for another 2% back. So, I don’t consider it as an annual fee per se, similar to how I would consider the Citi Costco Anywhere.

  15. Wei says:

    DP: Applied when CSR first came out on the same day. CSR bumped my overall credit line with Chase to 1/2 stated income. Amazon Card went in review and was approved for $500 with a message stating they could move some credit line from other cards over if needed.
    My $500 Amazon rewards Visa came out to be a Visa Signature!

  16. David says:

    What about for Amazon Payments? Will it get the 3 or 5 %?

  17. jwl says:

    I think the advantage of this card is actually no Foreign transaction fee (rarely offered at a no annual fee card).
    Seems the link on Amazon just can upgrade to get 5% cashback on the old card, not no FTF?

    • sirtheta says:

      You should be upgraded to the new card—Amazon sent an e-mail out to many existing Amazon Rewards cardholders about this.

      With regard to no FTF, there are a surprising number of no-AF cards with no FTF fees, including decent options such as the BankAmericard Travel Rewards and even odd ones such as the Target Credit Card & REDcard. (and of course, Discover, if you can get anyone to take it). No FTF is nice, but I would consider it more of an incidental benefit rather than a draw.

      • jwl says:

        I agree. However, for the existing Amazon Rewards cardholders, no FTF might still be the major benefit, as Discover and Freedom provide seasonly 5% and Amex BCE BCP provide intro 10% cashback on Amazon already.

        For me, unfortunately, no email saying I would get the new card: Amazon Prime Rewards. (already upgraded to get 5% from the link of Amazon, not sure about no-FTF and other benefits)

  18. Swang says:

    Hi There,

    Does the 5% cashback apply to a household member applying for this card? Or does it have to be the member why has the primary Prime membership?

    Thanks!

  19. Nate says:

    I just applied for the card and was surprised to find my credit limit is only $500 (my credit score is ~800). Does this often change a few days later when the actual hard credit check goes through, or did that already happen?

    • Chuck says:

      I don’t know.

      One good thing is that it’s a Chase card and Chase is very easygoing with moving credit over from another card if you have one. Just SM and request.

      • Nate says:

        Thanks everyone. I sent a secure message asking for a credit limit increase to $7000, answered a couple questions in a reply (yearly income, desired increase, etc.), and a few days later the CL increase magically appeared. I didn’t even have to move a CL from another card =)

    • sirtheta says:

      Sometimes Chase gets a little bit wonky about extending further credit. $500 is all you’re going to get — but you can send a secure message to move CL between cards.

  20. Happs says:

    I applied and received an e-mail that says initial credit limit of $5000. However, when I look on my Chase account it shows as $8500. With all the purchases I make on Amazon, I’m just disappointed that I didn’t get a card from them sooner.

  21. Billy says:

    I haven’t seen this posted anywhere else, so these are DPs from me.

    Amazon owns Audible and Comixology. Purchases directly from these sites are NOT eligible for 5x. However, most of the time you can get the same price on Amazon as the sales price on Audible and Comixology and if you complete the transaction through Amazon you will get 5x.

    For Comixology: Look through the sales on the Comixology site and find an item you want to buy. Copy the full name of the item and paste it in an Amazon search. The Kindle edition of the same item is usually (but not always) the same price. You can buy the Kindle edition and it will appear in your tablet’s Comixology app exactly as if you’d purchased it on the Comixology site. I’ve made several purchases this way and seen no discernible difference in the final product.

    Audible works the same way though I mainly only purchase the Daily Deal items this way since most of the time I am using credits.

    Hope this helps a few of you get some extra points!

  22. Anonymous says:

    Does the card earn cash back when purchasing gift cards through Amazon?
    Does the card earn cash back when reloading Amazon balance?

  23. Jeremy says:

    With today’s announcement that Amazon will buy Whole Foods, does that mean this card will get 5% at WFM?

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