Just yesterday, Amazon began rolling out its new Chase Prime Rewards Visa Signature Credit Card that offers 5% back on all purchases made through its online store. That’s an increase from 3% on the previous Prime rewards card, making this new line of credit extra enticing for avid online shoppers. Naturally, it is only available for members of Amazon’s two-day Prime shipping service.
To sweeten the deal even further, anyone that successfully signs up will receive a $70 Amazon.com gift card. There’s no minimum purchase requirements or annual fees. Simply apply and be approved, Amazon will then add the free cash to your account.
Like any credit card, you’ll want to pay particular attention to the interest rates attached and be sure to pay off the balance each month. Otherwise, you won’t be maximizing that nifty 5% back to its full potential. Learn more about the Prime Rewards Signature Visa Card here.
“% Back rewards” are the rewards you earn under the program. % Back rewards are tracked as points and each $1 in % Back rewards earned is equal to 100 points. You may simply see “% Back” in marketing materials when referring to the rewards you earn. A minimum of 2,000 points is needed to redeem for cash back (card account statement credit or electronic deposit into an eligible checking or savings account held by a financial institution located in the United States). You can use your points to redeem for any available reward options. Options may include: eligible purchases at Amazon, travel, cash, and gift cards. When you use points to redeem for eligible purchases at Amazon, travel, cash, and gift cards, each point is worth $.01 (one cent), which means that 100 points equals $1 in redemption value. Redemption values for other reward options may be worth more or less than that. See Rewards Program Agreement for details.