Is the Prime Visa card worth the money?

Amazon is a giant in the industry that provides easy and instant access to hundreds of thousands of different products.

While Official Visa Technically there is no annual fee, one of the prerequisites is that you must be a Amazon Prime eligible subscribers. Prime membership costs $14.99/month or $139/year.

It’s difficult (and foolhardy) to judge the value of a Prime membership based solely on the returns you can get from using an online retailer’s credit card — since the membership includes so many other tangible benefits — but for the sake of argument, I’ll try.

Welcome Welcome

The Official Visa Currently offering a $200 Amazon gift card upon approval.

There is no minimum spend requirement to get this gift card and you will receive it immediately upon approval. This is a very solid reward, especially since there is no spending required and you can use the gift card from day one.

Income ratio

The Official Visa Earn cash back. This card earns 5% on Amazon, Whole Foods, and Chase Travel℠, 2% on restaurants, gas stations, and local public transportation and commutes, and 1% on all other purchases. This is the best consistent cash back you’ll find on Amazon purchases, and it’s a respectable—if not insignificant—2% cash back across categories.

There is no limit to the amount of cash back you can earn, and you can redeem your rewards to pay for all or part of your Amazon purchases. In addition to cash back, you can also redeem your rewards for gift cards or travel.

Related: Best cash back credit cards

How should you use the card?

This is the card you’ll need to use at Amazon and Whole Foods to maximize your unlimited 5% cash back. If you want a simple card setup, you can pair this with a 2% cash back card like Wells Fargo Active Cash® Card (see prices and fees) to ensure you always get at least 2% cashback on your purchases.

However, many cards earn at least 3% or more on purchases at restaurants, gas stations, and local transportation and travel, such as American Express® Gold CardEarn 4 points per dollar spent at restaurants and Blue Cash Preferred® Card from American ExpressEarn 3% back at U.S. gas stations and local transportation and transit (Cash back in the form of Reward Dollars can be redeemed for statement credit or at checkout on Amazon.com).

Related: Best Credit Cards for Amazon Shopping

Earn back your membership fees

Now, let’s calculate your break-even cost of signing up for Prime and using it. Official Visa Card.

The $200 gift card you get when you sign up will more than cover the cost of your first year of Prime membership.

But after the first year, you’d have to spend about $2,780 at Amazon or Whole Foods in subsequent years to earn enough cash back to cover the cost of a Prime subscription.

Here’s the breakdown: $139 divided by $0.05 = $2,780

One 2024 Consumer Intelligence Research Partner The analysis found that the average Amazon Prime member spends about $1,100 a year with the retailer. That’s not enough to justify becoming a Prime member for the sole purpose of getting a credit card.

It certainly has been for me. I spent about $1,900 at Amazon and Whole Foods last year, and got $95 in cash back—much less than my $139 Prime membership fee.

Related: Best credit cards for online shopping

Other benefits of the card

With this card, you will also receive a host of other benefits including:

• Secondary Rental Car Insurance
• Baggage delay insurance
• Extended warranty protection
• Lost baggage compensation
• Roadside coordination
• Travel accident insurance
• Travel and emergency assistance
• Purchase Protection
• No foreign transaction fees
• Early access to Prime Day deals
• 10% off selected rotating items and categories

These are some solid benefits, especially for a card with no annual fee.

Related: Your guide to maximizing shopping portals for your online shopping transactions

Calculate the value of your Prime Visa

Determining whether it’s worth paying for a Prime membership to get a Prime Rewards card is highly subjective. Some of us may find incredible value in getting 5% back on Amazon and Whole Foods purchases.

I’m an Amazon Prime member and spend a lot of money on Amazon, so this card makes perfect sense for me. I see the value in the membership because of the Prime Video and Amazon Music streaming services—it easily justifies the $139 annual cost for me. Adding a rewards credit card is just the icing on the cake.

For people like me who already have a Prime membership for benefits like free two-day shipping and Prime streaming, getting the bonus with a Prime Visa is definitely worth it.

However, if you don’t use the benefits of your Prime membership and are considering getting Prime just for this card, carefully calculate whether you’ll earn enough from the card to justify the cost of the Prime membership. You may find that you’ll be better off with a flat fee. refunds or travel rewards instead of credit card.

Last line

If you already have an Amazon Prime membership, this card is a great addition to your wallet because it has no annual fee. You can’t beat the 5% cash back every time, especially if you spend a lot at Amazon or Whole Foods. However, if you’re not a Prime member or want to earn flexible pointYou should consider other cards.

For more information, read full review of Prime Visa.

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Register here: Official Visa

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