If you love shopping on Amazon and you definitely use your credit card to pay at gas stations, drug stores and restaurants, then the Amazon rewards card can be of a greater use to you than the conventional counterparts. The card offers a cash back from 1% -3% based on where you use the card at in the form of reward points and these reward points can be redeemed easily when you shop on Amazon with the same card. What makes the card all the more interesting and exciting is the fact that there is no annual fee to be paid either. So, you actually get a rewards credit card from Amazon where there is a really good cash back offer at no annual fee.
What is unique about the Amazon rewards card?
The rewards card from Amazon works in the same line as your everyday credit cards. However the major difference lies in the rewards you reap and the benefits you gain with this card.
- To start with, the Amazon rewards cards allows you to redeem your rewards however small it may be without any restriction for a minimum threshold.
- Secondly, the card is a boon to those who are frequent buyers in Amazon as the reward points can be redeemed easily for any buy in the website.
- The reward points or rather the cash back offered is at 3% for every purchase you make on Amazon, 2% for using in gas stations, drugstores and restaurants and at 1% for other purchases.
- The reward points can be redeemed either through a purchase on the Amazon website or by means of a gift card or statement credit from the Chase bank, who is the issuer of these cards on behalf of Amazon.
- There is no fee for maintenance or holding a card that you have to pay to the bank and neither is there a fee to pay for inactivity. So you can just hold onto the card without using it.
Apart from being an unconventional credit card with more benefits for the customers there are also attractive offers for the customers who go for this rewards card. Let us look at the other features of ths card in detail.
Bonus on sign up
Even before your card reaches you, you are guaranteed to get a signup bonus of $50, upon the approval of the credit card application. Unlike the many different credit cards that offers you the sign up bonus only after making a few purchases within a stipulated time, the Amazon rewards card gives you a bonus that can be used instantly upon receipt of the card.
While there is no annual fee charged on your account by the card, the APR for the purchases you make on this card will vary anywhere between 14% and 23%. The rate is decided based on the creditworthiness of the clients and the balance transfer option may not be available to all the clients. In case of cash advances, the APR is charged at 25.24% which can again change as per market conditions. Also when you go for cash advance you are required to pay either 5% of the advance or $10 whichever is higher. In case of a foreign exchange transaction you need to pay an additional 3% fee for the conversion.
While there is no fee to be paid for going beyond your credit limit, there are late payment penalties levied based on the amount you are due to pay. The card doesn’t need you to be a prime member of Amazon and neither does it offer financing like the Amazon store card.
If you love using Amazon as your main shopping destination and you are looking to have only one credit card in your wallet to make for all the purchases, then Amazon Rewards card is definitely the right choice for you.