Introduction to the Amazon Visa Card
The Amazon Visa card came out in 2015, offering Amazon.com shoppers huge rewards on purchases. The Amazon Visa card is a credit card that is offered through Chase Bank and it is a no annual free credit card. This card offers many extras and the cardholder can earn rewards when using this credit card. The rewards can increase based on where the card is used and what is purchased with the card.
When applying for the Amazon Visa card, the user can get an approval in up to 15 seconds, but this sometimes takes longer based on the the address and the person that is applying. The Amazon Visa card is a 2%, 3%, 5% cash or reward back card. There is a 2% return on rewards when the card is used at restaurants, drugstores and at gas stations. There is a 3% return on rewards for purchases that are made in stores and on Amazon.com while not an Amazon Prime Member. There is a 5% return on rewards for those that make purchases with the Amazon Visa card on Amazon.com and when they are an Amazon Prime Member. These rewards are earned by earning points for purchases and the rewards add up to different amounts, based on these purchases.
When someone makes a purchase that is less than $149 dollars using the Amazon Visa card, the purchaser can get 5% back on their purchase. On purchases of $149 or more, the purchaser can choose either 5% back or the 0% financing. On purchases that are $599 dollars or more, the purchaser can once again choose the 5% back or can choose to have 0% financing for 12 months. Some items offered on Amazon.com offer a 24 month, 0% financing or once again, 5% back. Equal pay financing is sometimes offered on Amazon.com where the purchaser can make 12 equal payments for 12 months during the qualified promotion.
Purchases of lottery, casino, cash advances and other purchases may not be eligible for rewards or points.
There are many perks for using the Amazon Visa card such as no annual fees, extra rewards when shopping at Amazon.com, rewards that can be used for millions of different items, easy to redeem rewards, reward balance is easy to find, purchase protection, extended warranty protection and more.
If travelling, the Amazon Visa card is especially useful because it offers no foreign transaction fees, lost luggage reimbursement, baggage delay insurance, travel accident insurance, travel and emergency assistance, roadside dispatch and auto rental collision damage waiver. These types of protection can make any traveler feel safer in the country or outside the country.
Since Amazon.com has a majority of items that someone would purchase, having the Amazon Visa card could be useful for many people. With this card, the purchaser could get a percent back on their purchases and Amazon.com sometimes offers financing of 0% to make big purchases interest free.
Amazon Prime Rewards Visa card
Another Amazon Visa card is the Amazon Prime Rewards Visa card that is another Amazon Visa card that is only for Prime Members. This card gives you back 5% on Amazon.com and gives you 2% back if you shop at restaurants, drugstores and gas stations. The purchaser can get 1% back on anything that is not through Amazon.com.
This card has no annual fee, like the other card, but you must be a Prime Member and the membership for that is $99 per year. The APR for the Amazon Visa Credit card is 16.24% – 24.24% and the card rewards cannot be transferred.
Some of the great points of this card are that the points that are acquired from purchases never expire and these points can be used for different things such as for gift cards and to use towards travelling. The reward points have no minimum to redeem on Amazon.com but you have to have over 2,000 points in order to get cash back.
Points that are acquired through the Amazon Visa card and the Amazon Prime Rewards Visa card can be used to purchase items through Amazon.com and since Amazon.com is such a huge market, most items can be found right on the website.
The Amazon Visa Card is a great card for someone that is a Prime Member and for someone that likes to make big purchases on Amazon.com. With this card, the user is able to take advantage of the special financing that is offered through Amazon.com, sometimes up to the 5% and since the card is a Visa, it can be used anywhere that Visa is accepted.
The customer service for the Amazon Visa Credit card is a 24/7 service where live representatives are available to chat. This allows users to always be on top of any issues that they may face when using the card.
On Amazon.com, the Amazon Reward Visa card has 4.2 out of 5 stars with 69% of the people giving the card a 5 star review.
Most of the reviews that were negative were people that were disappointed about Chase Bank being the card holder of the Amazon Visa Credit card. Many users disappointed with the long process of signing up for the card and the fact that Chase Bank had to confirm the identity over and over again. Many commented that Chase’s customer service department was frustrating, being sent to different departments and still not getting the answers that were needed.
Some customers complained that Chase Bank is over zealous with their fraud protection, causing people to have to shut down and get cards numerous times just because they made purchases from their card. Other complaints noted that Chase Bank was difficult to deal with, unable to validate addresses and many people complained about being turned down for the credit card even though they had next to perfect credit.
Other complaints included the low credit limits, the change of the APR rates after a promotion period and the change of the promotions or sign-up bonuses that sometimes change without notice. Others complained that the interest is a little high if the credit card has a balance, but most felt that it was beneficial to the user to pay the balance off in full at the end of each month.
The positive reviews showed that people were happy with the card and that they felt that the rewards that come with the card are amazing and over the top. Saving on Whole Foods Market seemed to please most of the customers.
Other reviews that were positive were the 5% return on rewards, with many customers feeling that this card was the best option over any card because most cards only give you back 1%-2% and purchases on Amazon.com are a 5% return.
One customer said, “So far it seems to be a fantastic card if you do a lot of shopping at Amazon and don’t carry a balance, and maybe a not-so-fantastic card if you do not do those things.” –Celerity with a 5 stars out of 5 stars rating.
Another customer said, “I just applied for this card about an hour ago and was approved within seconds for a $5k credit limit. The $50 sign-up bonus was added to my gift card account immediately…I have a credit score of 777, use very little of my available credit, and always pay it off in full each month,” –Andrea P. with a 5 stars out of 5 stars rating.
Rebekaah who gave the Amazon Visa Credit card a 5 stars out of 5 stars rating said, “Best. Credit Card. Ever. GREAT credit card, because they pay me to use it. I pay it off each month while I gain free reward money! If you’re paying interest, you’re doing it wrong.”
Many of the users discuss the fact that they make many of their purchases online at Amazon.com including household items, food, gifts, appliances and more and that with these types of purchases they have saved hundreds of dollars.
The Amazon Visa Credit card is ranked with a customer satisfaction rating of 804, by J.D. Power 2018 and this is mostly due to the sign-up bonus that is $70 and the unlimited 5% reward return, which is considered the “best thing that the Amazon Visa Credit card has to offer.”
Despite the idea of having to purchase Amazon Prime, those that shop on Amazon.com will likely benefit from not only the 5% reward return but also for the free shipping, free Prime Videos and other free offers that come with the Amazon Prime Membership. These offers make paying the Amazon Prime Membership fee to seem more valuable. The rewards are likely to outweigh the cost of the membership fee.
The overall experience of the Amazon Visa Credit card seems to be an overall positive experience, with users considering the rewards to be the most positive experience pertaining to the credit card. These rewards are easy to spend and can be used to purchase items that the user is already considering to purchase, and using the Amazon Visa Credit card makes the purchase much better with the 5% reward return.
David is a financial expert who graduated from the University of Fordham (Master in Finance) in 2001. He has 10+ years of experience in private equity and wealth management. With strong expertise in senior-level financial planning, personal financial analysis, and mortgages, David knows his way around personal finance. Before working at CCR he used to be a financial analyst at McKinsey.
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