How To Pay For Amazon Credit Card?
In this post, I’ll be reviewing the amazon visa cards and how you can pay for both credit cards.
Specifically there are two types, the amazon rewards visa and amazon prime rewards visa.
Essentially they are the same card except if you are an amazon prime member, you will get a little bit more on the rewards front, in particular more rewards on your amazon and whole foods purchases.
Both of these credit cards are issued by “chase bank”, and they are no annual fee cards.
Now just to be clear, we are only talking about the amazon rewards visa and the amazon prime rewards visa.
There is another amazon store card that is used mostly for financing on larger purchases, issued by “synchrony bank”, that’s a different card.
So how do you pay for the amazon credit cards?.
Just to remind you, there are two amazon credit cards. One is a visa card issued by “chase bank” and the other one is for shopping only at amazon, it is issued by synchrony bank.
You cannot make payments to either of these cards directly from the amazon website. You must go to each respective bank’s online banking platform. You can also go to your own bank’s online banking platform and send the money to either synchrony or chase using the billpay function.
Now let’s talk about the credit cards.
Amazon Rewards Visa
The amazon rewards visa does not require the paid amazon prime membership. For a “no annual fee card” you’re getting three percent reward on your purchases at amazon, and the “amazon owned whole foods” you get two percent reward on purchases at restaurants, gas stations and drug stores.
Anything else that you purchase with the card will give you one point per dollar.
Now that three percent on amazon and whole foods is pretty nice for a no annual fee card, not necessarily something that you can replicate otherwise.
In the market, two percent at restaurants, gas stations and drug stores, that is okay, but you could find other cards on the market that would give you the same or perhaps better in those categories as well. That part doesn’t excite me a whole lot and then obviously the one percent, everything else is industry standard so in most cases the points you earn on this card are going to be worth a penny, a point you can use them toward your future amazon purchase.
You can also use them for things like cash back and gift cards travel, that sort of thing. But my guess is that majority of people with this card use them at amazon because amazon makes it easy to redeem them when you make purchases.
When you go to checkout on amazon you’ll see your card there, it shows you how many points you have and how you can redeem it.
Let’s say you’re buying a product that is $30 and you got 1500 points already from this card, you could get 15 off that purchase and you could just immediately use it, don’t wait until you get to $50 or anything less than that in order to redeem. It is very easy to use those points as you go but you do have the option to use them in other ways.
As a new card holder of the amazon rewards visa, once you are approved you’ll get a bonus of 50 amazon gift card, it is loaded into your amazon account as soon as you’re approved for the card, you don’t have to spend anything first there’s no hoops to jump through.
However that is still a paltry bonus when you compare it to other credit cards on the market so it’s nice that you don’t have to work for it at all but you could easily get $150 to $200 from other no annual fee cards including other cards that chase bank issues.
Usually those cards requires you to spend $500 in some cases up to a $1000 in the first three months of having the card.
If you’re planning to get the new card then you’ll have to spend more before you earn that bonus.
Amazon Prime Rewards Visa
If we look at the amazon prime
rewards visa you get a little bit more, five percent reward.
On amazon.com and whole foods purchases the other stuff is the same, though in terms of two points per dollar on restaurants, gas stations and drugstore purchases, this time you get one point per dollar, this means you receive a bonus in addition but still it’s $70 versus the $50 on the amazon rewards visa, it’s a little bit more when you compare it to other bonuses out there on the market.
If you don’t know amazon prime, it is sort of a package of services from amazon that you pay a single price in order to get everything within that bundle.
For $119 per year ($12.99 per month) there are some other packages as well what you get is free faster delivery on your amazon purchases. You also get access to amazon videos with a lot of free movies, free streaming music and amazon discounts that come along with it.
The amazon prime visa is similar to one of the perks of being an amazon prime customer because of the fact that getting five percent back on your amazon purchases can only come through this card.
If you were an amazon prime customer and you are paying for an amazon prime membership it wouldn’t really make sense to not get this card, simply because you’re just missing out due to the fact that you could get a five percent reward on all those amazon purchases that you’re making and you obviously are making a good number of them.
Otherwise you probably would not be an amazon prime member to begin with, so it is a no-brainer to get this card.
As an amazon prime member you don’t have any extra annual fee.
A few notes about some things that are true about both cards.
The amazon rewards visa cards are potentially instant approval, this means you could apply and be approved in 15 seconds. These cards are visa signature cards, in terms of giving you some extra benefits that visa signature means it is giving you things like baggage loss insurances.
There is a secondary auto rental coverage extension of the manufacturer’s warranties by a year, and there are other things as well. Some of these things are better than others, a lot of people will never even use it and will forget that they even have them.
But if you’re relying on the car rental coverage make sure you read the fine print because it definitely doesn’t cover everything.
Looking at this card with these
extra benefits, the delayed baggage are probably the best. A lot of people are using it because they were already aware of them.
Extended warranty is good, and
the interest rate range on the amazon visa cards starts anywhere from 2 to 22.2 percent.
If it is four percent, they look at your credit history and decide what interest rate they will give you.
In today’s environment, 22.24 is high, getting over 20 is not
particularly desirable. You should be paying off your complete credit card balance every month, and if you do you will never pay interest.
But if you ever carry a balance you would much rather be at the 14.24 and then at the 22. Both cards have no foreign transaction fees, meaning if you use them outside of the united states you will not get charged anything extra, this is a good feature for a no annual fee card.
If you are a regular amazon shopper with both cards, one of them will probably be attractive to you.
I hope you enjoyed this post.
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