Our quick take: With no annual fee and plenty of perks, the Prime Visa is a rewarding card for frequent Amazon shoppers. However, some of the card’s category bonuses are lower than other cash back credit cards.
Pros:
- High earning potential on Amazon, Whole Foods and Chase Travel purchases
- Extensive travel protections, including lost luggage reimbursement and travel accident insurance
- 10% cash back on select Amazon purchases
- No annual fee or foreign transaction fees
Cons:
- Low welcome bonus compared to other cash back cards
- Low rewards rate outside of Amazon, Whole Foods and Chase Travel purchases
- Requires an Amazon Prime membership
Current welcome bonus: Get a $200 Amazon gift card upon approval with an eligible Prime membership.
Best for: Shoppers who can maximize the 5% cash back bonus at Amazon and Whole Foods.
Digging into the Prime Visa
The Prime Visa is offered to Amazon Prime members and includes various perks and incentives. Card holders receive a $200 Amazon gift card upon approval with an eligible Prime membership and earn generous rewards on recurring spending: 10% back or more on a rotating selection of products and categories at Amazon.com, 5% back on other purchases at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership, 2% back at gas stations, restaurants and on local transit and commuting (including rideshare), and 1% back on other purchases.
The Prime Visa also comes with valuable travel insurance and purchase protection benefits, which is unique for a card with no annual fee. Considering it has no annual fee and offers lots of recurring incentives, it can be a great addition to your wallet.
Rewards earned with the Prime Visa can be redeemed directly on Amazon to cover purchases. You can redeem cash back toward Chase Travel bookings, gift cards or a statement credit.
However, the Prime Visa also has several drawbacks to be aware of. When deciding whether to get this card, you should compare the card’s advantages and disadvantages, which we’ll dive into below.
Advantages of the Prime Visa
The Prime Visa has several advantages, including high earnings on Amazon purchases and no annual fee. The card offers up to 5% back on purchases made with Amazon, Whole Foods and Chase Travel. These savings can add up quite a bit, considering that Amazon is the go-to retailer for many online consumers.
Beyond this, card holders earn up to 2% in common spending categories and qualify for 10% back on select merchandise. You’ll often see this 10% bonus on Amazon-branded products, refurbished products and other limited-time deals.
Another great advantage of the Prime Visa is that it waives foreign transaction fees. So, when you use your card abroad, you won’t pay the customary 3% foreign conversion fee. This makes it an ideal choice for those who travel abroad or shop online from international retailers.
Additionally, the Prime Visa provides valuable travel protections. Card holders receive travel accident Insurance, lost luggage reimbursement, baggage delay insurance and secondary auto rental collision damage waiver. Make sure to pay for upcoming travel with the Prime Visa so you can take advantage of these benefits.
Disadvantages of the Prime Visa
For all its positives, there are several drawbacks to the Prime Visa. For starters, the welcome bonus on this card is a $200 Amazon Gift Card — that’s less versatile and low compared to other cash-back cards.
For example, the Blue Cash Everyday® Card from American Express (terms apply, see rates and fees) also has no annual fee and offers $200 when you spend $2,000 on purchases within six months of account opening. You can use this bonus for virtually anything, while the Prime Visa’s gift card is much more limited in use.
Further, the Prime Visa offers low rewards outside of Amazon, Whole Foods and Chase Travel purchases. Card holders earn 2% back at gas stations, restaurants, local transit and commuting (including ride share). All other purchases earn 1% cash back.
By comparison, the Blue Cash Everyday® Card from American Express earns 3% cash back at U.S. supermarkets, U.S. gas stations, and online retail purchases in the U.S. on up to $6,000 in each category per year in purchases (then 1%); Earn 1% cash back on other eligible purchases.
Alternatively, you can earn a flat 2% cash back on all purchases with the Citi® Double Cash Card (1% when you spend, 1% when you pay your balance). So, look at your spending habits and see if the Prime Visa is the best choice for your wallet.
Finally, while the Prime Visa does not have an annual fee, you must be an Amazon Prime member to get the card. This costs $139 per year or $14.99 per month. That said, most people considering the Prime Visa likely have a Prime membership already, so it’s not a relevant drawback for most.
Should you get the Prime Visa?
If you’re a frequent Amazon shopper, the Prime Visa could be a great way to save money and get rewards. With this card, you’ll get 5% back on all your Amazon purchases, as well as 2% back at gas stations, restaurants and on transit. Additionally, you’ll get 1% back on all other purchases and a 10% discount on select merchandise.
The Prime Visa travel and purchase protections can provide you peace of mind when you’re charging big expenses to the card. Plus, the card’s lack of foreign transaction fees is a unique benefit for a credit card with no annual fee, potentially saving you hundreds of dollars when traveling abroad.
So, should you get this card? If you’re a frequent Amazon shopper looking to earn maximum cash back, the Prime Visa can be an excellent card. However, if you don’t shop on Amazon often or prefer more flexible rewards programs, it’s probably not the best choice for you.
To view rates and fees for Blue Cash Everyday® Card from American Express please visit this page.