Description: This article is about amazon-credit-card, which compares the Amazon Prime rewards card and the Amazon Prime store card. Both the advantages and disadvantages of these two cards are introduced in detail including the annual fee, protection and Amazon membership.
Today we are going to be taking a look at the Amazon Prime Visa Signature rewards card and comparing it to the Amazon Prime store card. That’s a card that not many people know about. They don’t promote it that much.
First let’s take a look at the Amazon Prime credit card. It has an annual fee of $99 a year. Because it’s only available to Prime members. Although officially the card has a zero dollar annual fee, Prime membership costs $99.
Obviously with that you also get free shipping on thousands of items on amazon.com and you also get access to some of the Amazon video services, some movies that you can watch on smart TV or on the internet or on your computer. You get quite a lot of value out of that ninety-nine dollars per year.
There are also three different rewards categories. You can earn five percent back at amazon.com and Whole Foods. Because obviously Amazon owns Whole Foods. There’s a two percent category of drug stores, gas stations and restaurants.
We don’t often see drug stores in bonus categories. These stores like CVS sell way more than medicines. There are a lot of different things you can buy there. Potentially there’s a lot of spending you could do in that category. It owns one percent back on everything and it also comes with a swanky looking metal card.
It’s a brushed steel effect and you know the weight of it. It’s the same construction as the Sapphire Reserve or Sapphire Preferred. The card also has no foreign transaction fees, travel and emergency assistance, lost baggage reimbursement, baggage delay insurance and travel accident insurance for automobile stuff.
There are roadside dispatch, auto rental, collision damage and waiver. All those things are things that you would expect from what I call a Tier three card. Cards with an annual fee of around a hundred dollars earn rewards for shopping.
There are also purchase protection and extended warranty protection. But some people have criticized this card for lacking return protection. A merchant will not accept a return if you’re using this card a lot at amazon.com.
That’s not going to have a problem with Amazon. Because they’re normally great at accepting returns. I’ve returned items to Amazon that had no problem. I didn’t want them and they gave me a full refund.
But if you’re using this card at other merchants stores, it is a credit card that you can use anywhere that might be something that you want to consider.
Lastly there is a $70 Amazon gift card as a signup bonus. There’s no spending requirement for that. You don’t have to spend five hundred in the first three months in order to get it.
Next let’s have a look at the Amazon Prime Store card. This is a card that can only be used at amazon.com where it earns five percent. It can’t be used at Whole Foods. It’s just for use online at amazon.com.
It’s not a credit card that can be used anywhere. It has a very high APR interest rate at twenty seven point two four percent. You can compare that with the variable rate on the Amazon Prime credit card which is from 15 point four nine to twenty three point four nine.
It’s a lot higher rate and it’s a set rate. It’s not a variable rate. You get access to six months, twelve months and 24 months 0% APR financing options. This is not something you get with the Amazon Prime credit card. With Amazon Prime credit card there’s not an introductory 0% rate for the first 12 months.
This is something unique to the store card. These categories are for the sixth months financing. You can finance items that are over 149 dollars in value. For the 12 months financing it’s 0% on items over 599 dollars. For the 24 months financing it’s selected items. You can see a list of them on amazon.com.
I’m assuming these are going to be much larger. Caution of higher value items, though you look at the small print if you fail to pay back the full amount within the 0% period, they will add on interest charged from the day that you made the purchase.
If you fail to pay it all back, you’re not going to start paying a little bit of interest from the end of the 12 months period or the six months period. You have to pay all the interest from the day of purchase up until then.
That would be a shock. If you use these financing options, you should keep it under control and be careful with it. There’s also equal pay financing options as well where you pay the exact same amount every month. When you use this card you can see the financing options at the Amazon.
Check out online. If you want to find out more about all these financing options, I suggest you go on Amazon’s website and search for it. Because there are quite a lot of different options and stuff with the financing stuff available on this card.
Another cool thing that we can point out is that while you have to be a prime member to apply for this card, if you can’t see your Prime membership at any time, you’ll lose the 5% category at amazon.com.
But you can still keep the card. You’ll still have access to the other perks and benefits. The financing offers are available with this card.
This is a little comparison of the Amazon credit card versus the Amazon store card. It’s easy to see the difference in the advantages and disadvantages. Obviously the Amazon Prime credit card is a card that’s going to be good for people who would do a lot of shopping on Amazon, who are probably existing Prime members or who are seriously considering a Prime membership.
Because they buy loads of stuff on Amazon. But perhaps they also want a card that they can use in other places. They also want some of the perks and protections like luggage insurance, the auto damage waiver and all that other kind of stuff.
They want a swanky looking metal card. That’s a minor point. Obviously with the store card the real point of that is the 0% financing options. If you want to buy something big on Amazon, I don’t normally recommend going into debt to buy items. If it’s something that’s going to benefit you, you’re going to do graphic design work on and earn money then you’re going to have a means to pay it back.
You could definitely look at this store card as a means of financing a large purchase that makes sense for your life. But with that kind of stuff you’ve got to be careful. You’ve got to think about it. People who use the Amazon store card probably get it and use it to finance large purchase. Maybe whip it out if you’re going to buy something on amazon.com.
You’re going to hardly ever use it. From that it’s not going to be one of your mainstay cards in the wallet. But the Amazon Prime credit card could be a keeper card. That’s a little bit of a rundown of these two cards.
A lot of people have asked me to cover the Amazon Prime card. I think it’s a great card. If you’re thinking about getting it, I would recommend it. What do you think about it? Please leave your comments and I’m interested to know your answers. Let me know you had a good experience or a bad experience with it. I’d love to hear about it. Thanks for reading.