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As an Amazon shopper, part of the checkout process involves an ad that offers a $70 gift card upon approval of an Amazon Rewards Card. Well, that offer just became a little bit harder to resist today as Amazon and Chase Bank announced the new Amazon Prime Rewards Visa Signature Card which gives you 5% back on all Amazon.com purchases for Prime members.
Existing Amazon Rewards cardholders with an eligible Prime membership will automatically be upgraded to this new card and can take advantage of the 5% back immediately, along with other Visa Signature benefits like no foreign transaction fees, 2% back at restaurants, gas stations and drugstores, and 1% back on every other purchase.
Rewards are earned as points that can be redeemed on Amazon's website during the checkout process, or if you've collected over 2,000 points, you can request a statement credit or electronic deposit.
The physical card also gets a refresh, sporting a new look and metal construction.
Key Benefits of the new Amazon Prime Rewards Visa Signature Card:
- 5% Back on all Amazon.com purchases
- 2% Back at restaurants, gas stations and drugstores
- 1% Back on all other purchases
- No cap on rewards earned
- Rewards never expire and are redeemable on hundreds of millions of products at Amazon.com
- No foreign transaction fees when traveling abroad or for cross-border shopping
- No annual credit card fee
- Zero fraud liability
- Benefits including travel and purchase protections, as well as 24/7 concierge service, through Visa Signature
This is a nice card to have if Amazon is one of your major shopping destinations, but keep in mind that you must be a Prime member ($99 annual fee) in order to get 5% back (non-Prime members get 3% back). And even though it's a Chase co-branded card, your points do not transfer to the Ultimate Rewards program used by other premium Chase credit cards.
To learn more about the Amazon Prime Rewards Visa Signature Card, visit: amazon.com/PrimeRewardsVisaCard.
Update: this article previously incorrectly stated that points from the Amazon Prime Rewards Visa Signature card could be transferred into the Ultimate Rewards program. Points from co-branded cards cannot be transferred to Ultimate Rewards.
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