As an e-commerce trailblazer, Amazon.com has come a long way since its debut in 1995 as an online book retailer. Following its launch, the website steadily added more products — music, toys, electronics, tools, hardware, clothing and more — until it evolved into the online retail giant it is now.
To accommodate the financing needs of its millions of customers, Amazon.com offers consumers the Amazon Rewards Visa Signature Card. If you’re wondering whether this credit card would be a good choice for you, keep reading to learn about its features, pros and cons. If it’s for you, consider applying so you can start shopping on Amazon and earning rewards right away.
Amazon Credit Card Review
Explore the benefits you’ll get from these Amazon rewards card features. Then, decide if the credit card can meet your financial needs:
Amazon Credit Card Fees
You won’t pay an annual membership fee for the Amazon Rewards Visa card or foreign transaction or returned check fees. You will, however, be charged for the following:
- Cash advance: The greater of $10 or 5 percent of each advance
- Balance transfers: The greater of $5 or 5 percent of each transfer
- Late payments: $15 for balances less than $100; $27 for balances between $100 and $249; $37 for balances of $250 or more
Amazon Credit Card Interest Rates
The Amazon credit card interest rate ranges from 15.24% APR to 23.24% APR, based on your creditworthiness. The rates can fluctuate with the market — every time APRs rise a quarter-point, it results in $2.50 in additional interest per $1,000 of your credit card balance. This can add up over time, especially if interest rates rise even more.
Amazon Rewards Card Requirements
To qualify for the Amazon.com Rewards Visa Card, you must be at least 18 years old — 19 in Alabama and Nebraska — and a resident of the U.S. with a Social Security number or individual taxpayer identification number.
If you meet the qualifications and apply, you’ll be notified if you’re instantly approved. If your application requires review, you’ll have to wait two to four weeks to hear back.
Amazon Rewards Card Rewards, Benefits and Special Perks
Some perks of the Amazon Rewards Visa card include:
- Earning cash back — you’ll get 3 percent back on Amazon.com purchases; 2 percent on gas station, drugstore, and restaurant purchases; and 1 percent back on everything else
- Protection against fraud
- Travel and purchase protections
The Amazon Rewards Card also features zero fraud liability and extended warranty coverage. Special perks include:
- Free, 24/7 Visa Signature Concierge service
- A $50 Amazon.com gift card when you’re approved
- Competitive rates on room upgrades and other benefits at more than 900 hotels
Find Out: 22 Secret Ways to Save Money at Amazon
Amazon Rewards Visa Card Pros
To help you make a decision about applying for an Amazon card, check out its advantages:
- You can apply online and might get instantly approved.
- Every purchase you make with the Amazon card earns rewards points.
- You’ll receive a $50 Amazon.com gift card when you’re approved.
- Rewards points never expire as long as your Amazon account is open, and there is no limit to the number of points you can earn.
- You can redeem rewards points for instant savings at Amazon.com checkout.
- No annual membership, foreign transaction or returned check fees are associated with this card.
- Customer service is accessible 24/7 by calling 800-247-4080.
Amazon Rewards Visa Card Cons
Every credit card has features that might not be as attractive as others. Here’s what you might not love about this retail credit card:
- The 15.24% APR to 23.24% APR can add up if you don’t pay off your Amazon credit card balance in full each month.
- You’ll pay a 25.99% APR on cash advances.
- A $37 late fee can apply to balances of $250 or more.
- If you aren’t a frequent Amazon shopper, the rewards points won’t add up to much for you.
- Not everything you buy at Amazon.com is eligible for Amazon.com purchase-related rewards points.
Should You Get an Amazon Card?
The Amazon Rewards Visa card can provide a lot of value if you shop at Amazon.com. In addition, you don’t have to pay an annual fee. If you’re not planning to pay off your credit balance each month, however, you will incur fees because of the relatively high interest rate.
For additional value, you might want to consider the Amazon Prime card. It offers an additional 2 percent cash back on purchases you make at Amazon.com. You must have an Amazon Prime membership to qualify for the card, however, which will run you an extra $10 a month — or you can pay it in full for $99 a year.
This content is not provided by the companies mentioned. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved, or otherwise endorsed by Amazon or Visa.