Pros and Cons
Pros
No annual fee
High rewards rate
Flexible rewards redemption
No foreign transaction fees
New cardholder bonus offer
Cons
Must be a member/customer
No 0% intro APR
Detailed Review
If you’re an Amazon Prime loyalist, it’s hard to find fault with the Prime Visa.
The card, issued by Chase, earns a stellar rewards rate at both Amazon.com and Whole Foods. And unlike a lot of other store-branded cards, you can use it — and earn rewards with it — anywhere that accepts Visa. You’ll enjoy bonus rewards at restaurants, drugstores and gas stations, too. Plus, redemption options are quite flexible for a store card.
You get all this for an annual fee of $0, although you’ll need to pay for an Amazon Prime membership first. Those who don’t shop enough with Amazon to justify that membership fee will want to look elsewhere.
Prime Visa: Basics
Annual fee: $0, but you must be an Amazon Prime member. Membership costs $139 annually ($69 a year for students). Note that in many states, a sales tax will apply to your membership fee, pushing the effective cost higher.
Sign-up bonus: Get a $250 Amazon Gift Card instantly upon approval exclusively for Prime members through 7/14.
Rewards:
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5% back at Amazon.com and Whole Foods Market.
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5% back on purchases through Chase Travel.
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2% back at restaurants and gas stations.
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2% back on local transit and commuting (including rideshare).
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1% back on all other purchases.
Rewards come as points that are worth a penny each. They can be redeemed toward eligible Amazon.com purchases, with no minimum redemption required. But you can also redeem points through Chase for cash back, either as a statement credit or a deposit into an eligible checking or savings account, also with no minimum required. Other redemption options include travel and gift cards. Note that points earned on the Prime Visa cannot be combined with Chase Ultimate Rewards® points.
APR: The ongoing APR is 19.49%-28.24% Variable APR.
Foreign transaction fees: None.
Other benefits:
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Travel protections: Travel accident insurance, lost luggage reimbursement, baggage delay insurance, travel and emergency assistance, auto rental collision damage waiver, roadside dispatch.
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Shopping protections: Extended warranty, purchase protection.
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Plus: Visa Signature concierge service and access to booking hotels in the Visa Signature Luxury Hotel Collection.
Benefits and Perks
High ongoing rewards
If you spend a lot at Amazon.com or Whole Foods Market, no other card can offer such consistently high rewards for your loyalty as the Prime Visa. A few other cards do come close, like the Chase Freedom Flex®. It earns up to 5% cash back in rotating bonus categories that change each quarter, up to a $1,500 quarterly spending cap. (Activation is required.) And in the past, Amazon.com has been among that card’s 5% bonus categories — but, again, only for a three-month period, and only up to that combined quarterly $1,500 cap.
Rewards flexibility
The only thing more fun than earning rewards is redeeming them, and your earnings on the Prime Visa can be used in a variety of ways (which isn’t always the case with store-branded credit cards). Use rewards toward your next Amazon purchase, or redeem them through Chase to buy gift cards, to book travel or to get straight-up cash back. Points are worth one cent each any way you use them.
Packed with extras
Even if the farthest you travel is from your bed to your couch, the Prime Visa is jam-packed with juicy Visa Signature extras that nearly anyone can benefit from. Serious online shoppers can take advantage of the purchase and warranty protections on qualifying items. And for those who do travel frequently, the Prime Visa doesn’t come with any foreign transaction fees, making it ideal for use internationally. Domestic and international travelers alike can find value in the included auto rental collision damage waiver coverage, baggage delay insurance, and travel and emergency assistance.
