The Chase Amazon Prime Card Now Comes With a $200 Gift Card

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• The Amazon Prime Rewards Visa Signature Card
  is a cash back-earning powerhouse for Amazon and Whole Foods spending.
• The card currently offers a sign-up bonus of $200 Amazon gift card instantly upon approval.
• This bonus is 33% higher than the previous bonus — but it only lasts through November 28, 2022.
• Read Insider’s guide to the best credit cards for Amazon purchases.

The market standard for a no annual fee cash-back credit card is 2%. If you’re not getting at least 2% back from your purchases, you’re using the wrong card.

If you spend a meaningful amount of money at Amazon each year, your expectations should be even higher. The Amazon Prime Rewards Visa Signature Card earns up to 25% back on select Amazon purchases — with a minimum earning rate of 5% back for Prime cardmembers. The ability to earn an uncapped 5% back at Amazon is incredible, considering Amazon carries just about everything.

Sweetening the deal is a limited-time offer of a $200 Amazon gift card instantly upon approval. This is $50 higher than the regular offer, and a solid bonus for a card that charges no annual fee. But the offer will expire on November 28, 2022.

Let’s take a look at this card to see if it’s a good fit for your lifestyle.

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Chase Amazon Prime Rewards Visa comes with a $200 gift card

The Amazon Prime Rewards Visa Signature Card’s limited-time offer is perhaps the easiest bonus to earn in the credit card world. You don’t have to meet any minimum spending requirements, and the $200 gift card will be available to you as soon as you’re approved. Instant gratification.

But this card’s real power lies in its high earning rates. Here’s what you’ll get:

• Between 10% and 25% back for items marked as “Prime Card Offers” (these items rotate)
• 5% back at Amazon and at Whole Foods (only for Amazon Prime members — non-members will earn 3% back)
• 2% back at restaurants, gas stations, and drugstores
• 1% back on all other purchases

As you can see, the card underperforms for all non-bonused spending. If the lion’s share of your purchases are made outside of Amazon and Whole Foods, you should instead use a 2% everywhere card such as the Wells Fargo Active Cash® Card or the PayPal Cashback Mastercard®.

The other caveat with this card is that you’ll need to be an Amazon Prime member to get the most from it. Those who aren’t Prime members earn 3% on Amazon and Whole Foods purchases — that’s 2% lower than Prime members get. If you’re a frequent Amazon shopper, Prime is likely already saving you money, anyway.

The Amazon Prime Rewards Visa Signature Card also comes with benefits such as extended warranty protection, purchase protection, various travel insurances, and access to a Visa Signature Concierge. It even comes with no foreign transaction fees, making it a good companion for any time you leave the country.

Bottom line

The Amazon Prime Rewards Visa Signature Card is hands-down the best credit card for Amazon spending. With the ability to earn 5% back on as much Amazon and Whole Foods spending as you can make, even a casual Amazon shopper can make a couple hundred dollars per year from this card.

Plus, through November 28, 2022, you can earn a $200 Amazon gift card instantly upon approval. That’s a 33% increase over the card’s previous bonus.