If you’re an Amazon Prime user and are responsible enough to pay off your credit card bills, you should get the new Amazon Prime Visa.
The two main benefits are enough to make this a no-brainer: As an Amazon Prime member you get 5 percent back as a statement credit on all Amazon purchases. Additionally, you get an instant $70 Amazon gift card applied to your gift balance when you’re accepted.
Beyond these two benefits, cardholders get 2 percent back on restaurant, drugstore, and gas station purchases, and 1 percent on everything else. Additionally, the card has no foreign transaction fees, making this a solid card for travelers as well.
The card, a Visa Signature issued by Chase, is only available to Prime members, so technically there is a $99 annual fee. But honestly, given everything you get for a Prime membership (from streaming television to free shipping), most Amazon users should look at this as a cost-savings offer.
For the last few years Amazon has been pushing its way into the credit card market, and offered some excellent perks, but this card combines all the best previous perks into one competitive offering.
There are caveats. For one, the statement credit is awarded at milestones, so you get $20 every time you hit 2,000 points, or every $400 spent on Amazon purchases. Second, you need to buy a fair amount of stuff from Amazon for this offer to best other cash-back cards.
Prime members with the existing Visa that gives 3 percent cash back will be upgraded automatically, according to Business Insider. Anyone else can sign up and receive their $70 gift card, as long as they’re already on Prime.
You can sign up for the card at amazon.com/visa.
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