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Amazon.com Rewards Visa Card Review

A $50 instant credit upon approval

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Now you can redeem your rewards points as you earn them without waiting until you reach a minimum threshold.

Who the Amazon.com Rewards Visa Card Is For

  • People who want to earn rewards to pay for Amazon.com purchases.

Credit Rating Required

  • Fair to excellent (660+)

About the Amazon.com Rewards Visa Card

Pros

  • Generous spending rewards on Amazon.com purchases.
  • Immediate $50 credit upon approval.
  • Instant credit decision.
  • Ability to redeem points as you earn them.

Cons

  • For Amazon loyalists only.

Rewards

  • Three points per dollar on Amazon.com purchases
  • Two points per dollar on purchases at gas stations, drug stores and restaurants.
  • One point per dollar on all other purchases.
  • $50 instant statement credit upon approval.

APRs

  • 14.24% to 22.24% on purchases and balance transfers, depending on credit history.
  • Cash advance APR: 19.24% to 23.24%
  • Penalty APR: 29.99%.

Fees

  • No annual fee.
  • Late payment fee: Up to $35.
  • Returned payment fee: Up to $35.
  • Balance transfer fee: 5% of balance.

Amazon.com Rewards Visa Card Review

The Amazon.com Rewards Card, which already was one of the better general purpose credit cards sponsored by a retail company, just got even better.

Holders of the card may now redeem their rewards points for Amazon purchases as they earn them. Now, when you earn say, 975 points, you can use those points to take $9.75 off the price of your purchase. The points are automatically deducted when you check out.

Previously, cardholders had to wait until they reached 2,500 points, at which time they were mailed a $25 paper certificate. Customers still have the option to redeem their points for gift cards to other retailers, travel or cash, but they must have a minimum of 2,500 points.

The card has additional great benefits. If you qualify, you get instant credit approval, plus an immediate $50 credit you can use on your first purchase. Chase, which issues the card, says the majority of credit applications take less than 60 seconds. It's like walking into a store, getting a credit card immediately, and getting $30 to spend. How cool is that?

The card also has a generous rewards structure. You earn three points per dollar on Amazon purchases, two points at gas stations, drug stores and restaurants and one point on all other purchases.

There's no annual fee and a low APR if you qualify.

Recommendation

If you shop frequently at Amazon, this card is a must-have. It's one of the best credit card rewards programs in retailing.

Other great retail cards with generous rewards and bonuses include the L.L. Bean Visa Card, which pays a 3% reward on purchases at the retailer, plus free shipping, and 1% back everywhere else. The Overstock.com MasterCard pays you 8% back on your purchases at the online retailer, 1% on all other purchases, plus a $20 statement credit after your first transaction. The Target REDCard gives you a 5% discount on purchases at Target.

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Last updated December 17, 2013. Credit card terms and sign-up bonuses are subject to change from the time of this review. Refer to the application for current terms and conditions. Credit card reviews are completely objective. This site may be compensated when a reader applies for a credit card through links on the the site.

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