Amazon Visa Card Review
For hardcore Amazon.com shoppers, which seems to be several million of us, the Amazon Visa card is phenomenal. While the card may not be quite as impressive to Amazon customers as the Amazon Store Card, which is exclusive to Amazon Prime members, one cannot deny that for a number of reasons, this is one of the best cashback cards to be found anywhere. Not surprisingly, Amazon has the financial strength to include a number of perks and rewards. Many of which are unique to this specific card. Combine that strength with the security and stability of Visa, and it isn’t hard to see why this is one of the best cashback credit cards available today.
While this may not be the best card for everybody, it is nonetheless a very strong card for a wide range of individuals. The more you learn about this card, the easier it will be to appreciate that for yourself.
Amazon Visa Card Basics
“Versatile” would be an excellent way to describe everything this card brings to the table. It is a rarity in cashback cards, in the sense that it doesn’t utilize a rotating reward system. Even more unique is the fact that this card doesn’t come with any spending caps. You won’t need to sign up for bonus points every quarter, which will certainly go a long way towards increasing your earning potential.
There is no annual fee associated with this card, which further explains the popularity of this card. You can also pick up a gift card for simply signing up. The value of that gift card can be anywhere between $30 and $50, so we’re not talking about an inconsequential perk for simply filling out some paperwork. The card kicks in as soon as you’re accepted, which means you can sign up for and put points on your new Amazon Visa card the very same day. This is a cashback credit card that truly delivers its promise to be simple and consistently useful. Again, a lot of that usefulness comes down to how often you shop at Amazon.
But again, if you’re like most people these days, you’re already spending a lot of money at Amazon from one month to the next. If you are indeed such a person, then there are a lot of things about this card that should be kept in mind. From a solid point system, to the wide range of ways in which the card can be useful, this is one of the most well-reviewed credit cards around for a reason. While the card falters slightly for Amazon customers in comparison to the store card, this is still an excellent card for Amazon shoppers who want a card they can use elsewhere.
Amazon Visa Card Pros And Cons
The gift card you can earn upon approval is perhaps the first benefit we should explore in greater detail. As we mentioned before, the value of the card can be anywhere between $30 and $50. You will be able to use the gift card immediately, which means you can start to enjoy some rewards as soon as you get the card itself.
The rewards breakdown is certainly impressive, as well. For starters, you will be able to earn 3% on any Amazon.com purchase. If you are someone who likes to shop at Amazon on a consistent basis, this is one of the biggest pros of all. Regular Amazon shoppers are going to find those points accumulating in no time. Furthermore, you will want to remember that there is no spending cap associated with this card.
The reward point system gets better from there. The Amazon Visa card also gives you the opportunity to earn 2% back on any purchases made at a gas station, a restaurant, or a drugstore. This perk is not limited to any specific store, or chain or stores. Combine this with regular visits to Amazon, and you can once again see how this card can build a good deal of value over a fairly short period of time. On top of all of this, you will also be able to earn 1% on any other purchases made. Obviously, the true value of this card is waiting for those who shop at Amazon frequently. Even so, if you only shop at Amazon once or twice a month, we’re still talking about some good building up of your points. It also stands to reason that you will be unlocking the 2% and 1% bonus points on a regular basis, as well.
Not only is it easy to build up rewards with this card, but it’s easy to see where those points can be useful. This is particularly true when you consider the very, very long list of things you can buy from Amazon.com. This gives the card an element lacking in similar cards with tighter restrictions on when and where you can use the points.
Further Pros And Cons Of Amazon Visa Card
There are only two notable downsides to this card, at the end of the day. The first one being the fact that this card is somewhat inferior to the one exclusive to Amazon Prime members. If the Amazon-centric benefits are what you’re really after, and you are an Amazon Prime member, then you will almost certainly want to go with the store card over this one. The other downside is the obvious one associated with cards such as these. It would be the fact that this card really makes the most sense for consistent Amazon customers.
If you aren’t a consistent Amazon customer, the rewards and benefits can still be useful, but that does decrease to a degree some might describe as significant.
However, Amazon customers will love the value of those points, combined with the fact that you don’t have to pay an annual fee. The fact that there aren’t any spending caps, or any sort of schedule for the rewards, puts this cashback card at just about the head of the pack. You will also want to note that the Amazon Visa card is backed by strong customer service. Don’t forget that Visa is one of the most well-regarded credit card companies in the world.
Additional Amazon Visa Card Considerations
The lack of assistance with financing might be seen as a downside with this card. While this may not be an issue for everyone, it can be problematic for someone who needs a little help with a big ticket purchase. This is something you may want to keep in mind, if you are planning to buy anything like a new TV, or something along similar lines, at any point in the future.
It is also worth mentioning that the difference between the Amazon Visa and Amazon store card comes down to a difference of 2%. More specifically, it refers to the rewards you earn from using the card on Amazon purchases. This is why we believe the Amazon store card might be a better fit for someone who is specifically looking for ways to earn through steady Amazon shopping. For anyone who is looking for a card that they can reasonably use just about anywhere, with the Amazon benefit being just part of the package of benefits, rather than the driving reason, the Amazon Visa card is worthwhile contender.
To summarize, this is a great cashback card on virtually every front. The 1% tier may not strike you as impressive, but it will add up over a fairly short amount of time. Since you don’t have any caps to worry about, you can actually choose to let those points build up to something you consider to be meaningful. There is a good deal of freedom with this card. It isn’t hard to see why so many people have raved about this card in recent years.
In terms of choosing between this and the Amazon store card, it really comes down to personal choice. Consider how much you spent on Amazon.com purchases over a single month. Try to figure out, if at all possible, the average amount of money you spend at the retail giant over a certain amount of time. If you find yourself spending a good deal of money regularly, the store card’s 5% reward for Amazon purchases will probably be the best possible fit for your needs. You can apply for that card instead, keeping in mind that there are some very solid cashback credit cards from some of the Amazon Visa card’s most notable competitors.
But if you want a good all-around card that still lets you build up a robust inventory of reward points, the Amazon Visa card is well worth a deeper look. This is a card that lets you earn nicely at a website that is already well-known for having some of the lowest prices on merchandise to be found anywhere. Amazon has truly backed a cashback card that works for their customer base. If you consider yourself to be part of such a base, you have unquestionably found your perfect primary credit card.
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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