Quick Answer: Is The Amazon Rewards Credit Card Worth It?

Is the Amazon Rewards Visa card worth it?

The 5% rewards rate on Amazon purchases and the $70 gift card you get once approved are both great rewards that are tough to beat by any other offer currently on the market.

Keep in mind that it’s probably not worth it for you to sign up for Amazon Prime just to get the Amazon Prime Rewards Visa Signature Card.

Which Amazon credit card is better?

Best Amazon Credit Card: How to Get the Most Out of Your Purchases

Recommended cardsBest forCredit needed
Amazon Rewards CardThird-Party Amazon PurchasesGood/Excellent
Discover it® Cash BackGeneral SpendingGood/Excellent
Blue Cash Preferred® Card from American ExpressSupermarketsExcellent/Good

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What is the catch with Amazon credit card?

There is a small catch: The 5% cash back benefit, which also applies to Amazon.com purchases, is only available to active members of Amazon Prime, a subscription program that offers free two-day shipping, access to streaming video and music, and a variety of other Amazon-specific perks for $119 a year.

Do you get points for using Amazon pay?

You can use your points for all or part of a payment for the purchase of eligible items at Amazon.com. If you don’t have enough points to pay for a purchase at Amazon.com, you can pay the additional cost with an Amazon.com Gift Card, an Amazon Payments, Inc. payments account, or your card account.

Does Amazon Rewards Card build credit?

Amazon Prime Rewards Visa Signature

This card will earn you: 5% back on Whole Foods and Amazon.com purchases (including your Prime membership fee) 2% back at restaurants, gas stations, and drugstores. 1% back on every other purchase.

Does applying for Amazon card hurt credit?

1 Answer. Getting rejected for a credit card does not impact your credit score. However, applying for a credit card, whether or not you are approved, does impact your score temporarily. Each time your credit report is accessed by a creditor, an “inquiry” instance appears on your credit report.

What credit score do you need for Amazon credit card?

640

What are the benefits of an Amazon credit card?

Rewards: 5 percent back on Amazon and at Whole Foods, 2 percent back at restaurants, gas stations and qualifying drug stores, 1 percent on all other purchases. Annual fee: $119 Amazon Prime membership. Bonus: $70 Amazon gift card. Variable APR: 15.74 to 23.74 percent based on your credit score.

How long does it take to get an Amazon credit card?

two weeks

What happens if I never use my Amazon credit card?

It will impact your credit score, but typically very minor – paying one bill late is much worse. It reduces your average credit card age, which is a minor contributor to credit score. The disadvantages are: you are giving them your address and name, and implicit permission to spam you with mail, email, etc.

How many credit cards is too many?

Key Takeaways. Having a lot of credit cards can hurt your credit score if the total amount you owe exceeds 30% of your credit limit. Holding multiple cards also hurts your credit score you make late payments or if you open many accounts in too short a time.

How many credit cards should I have?

The short answer: you should have at least two – ideally each from a different network (Visa, Mastercard, American Express, Discover, etc.) and each offering you a different kind of rewards (cash back, miles, rewards points, etc.). How many credit cards is too many?

Can I withdraw cash from my Amazon credit card?

If you want to get cash against your cash credit limit, this should act just like withdrawing cash from any ATM accepting Visa cards – you dip your card, enter PIN, and withdraw cash up to your available limit. I have not really used cash withdrawal using Amazon or any other credit card.

Do you get Amazon Prime free with Amazon credit card?

if you have an Amazon Prime membership, you can apply for the Amazon Prime Rewards Visa Signature Card or the Amazon.com Store card. While currently no credit cards currently offering Prime membership as a perk, there are other ways to enjoy a free membership. Each year, you can enjoy a free 30-day Prime membership.

Can you cancel an Amazon credit card?

Yes, it is definitely possible to get the $30 or $50.. whatever they are offering; and then immediately cancel the card. It actually doesn’t effect your credit score as bad as people try to say it does. Plus, your score will, after about a month, go back to what it was in my experience.