ATTN: AMAZON PRIME MEMBERS

EmersonHart13

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New Amazon Prime Credit Card Offers 5% Cash Back | Credit.com

Amazon and Synchrony Bank released a new credit card offer for Amazon Prime customers last week, offering 5% cash back on qualifying purchases and even promotional financing for orders over $149.

The store credit card is a credit product you may be familiar with at bricks-and-mortar retailers. Often, these cards offer a discount at sign-up, and promises of exclusive discounts or or coupons in the future. With the 5% cash-back offer on all purchases, is the new Prime card a good fit for frequent Amazon shoppers?

How This Card Works

Subscribers to Amazon’s Prime service are eligible to receive 5% cash back on qualifying Amazon.com purchases as a statement credit. Or, they can receive a variety of promotional finance offers. For example, cardholders will pay no interest on charges of $149 or more if the balance is paid in full within six months of purchase. Otherwise, the standard interest rate of 25.99% will apply. In addition, new applicants will receive an Amazon.com gift card loaded into their account instantly upon approval.

This card is offered by Synchrony Bank, and is not affiliated with any payment network, so it is only valid for purchases from Amazon. Applicants must be members of Amazon Prime, which costs $99 per year and includes free two-day shipping and access to their streaming video and music services. There is no annual fee for this card, but cardholders must be current Amazon Prime subscribers to receive the 5% discount or the promotional financing offers.
The New Amazon Store Card Gives Prime Users 5% Cash Back

If you're an Amazon Prime subscriber and a fan of cash back rewards, Amazon's Store Credit Card may be worth a look. The store card gives owners 5% cash back on Amazon purchases every day, along with special promotional financing. Here's the skinny.

This card—which is different than the very popular Amazon Rewards Visa from Chase—offers 5% cash back eligible Amazon purchases and comes in the form of a statement credit. After some boiler plate reading, the only items not eligible are "Amazon Prime memberships, digital newspaper and magazine subscriptions, and games and software downloads."

Spend more than $149 on a purchase and you'll get the option of either 0% financing for a set period of time or a flat 5% cash back. The store card has no annual fee, fraud protection, and is backed by Synchrony Bank. If you're an invited guest to a Prime account, you'll need to create your own account to be eligible.

If you use Amazon Prime frequently, and pay off your debts every month, it seems to be a no-brainer. Especially since they're currently giving away a free $40 gift card once your application has been approved. But if you tend to carry a balance, you'll want to stay away or potentially get nailed with a hefty 25.99% APR.
 

OffshoreDrilling

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This is very enticing. I can't remember the last time i set foot in a store that wasn't for groceries or something i needed immediately.
 

Formula_LS1

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Not bad. Still wish you didn't have to pay tax now lol
 

Pressure Ratio

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That 25.99% looks like a nice time. Don't forget to make that card payment on time. Sheesh!
 

EmersonHart13

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Yeah, use it like a charge card, not a credit card. I already have the Chase card and the 3% is really nice.
 

Thirdgen89GTA

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I've been using my Discover card for monthly bills and crap. I put all the re-occuring charges on it, and use it for gas and groceries, then just pay it off every paycheck.

Every once in a while, there's enough cash back bonus to buy something fun from Amazon.
 

Bruce Jibboo

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pretty sweet, they also do 12 mon no interest on bigger purchases
 

The Italian

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Ehh... Sounds like a good deal but I already got two credit cards. Don't need another one.
 

IDAFC21

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Hmm. I've been considering getting an amazon card, since most of my purchases are from there anyways...but cripes. dat 25% apr...
 

importcrew

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Most of the time I use any of my credit cards is because I have the money in the bank and pay what I spent immediately. I mainly use 1 card for practically everything to get my cashback, a second card for business purchases (with cashback), and a 3rd for a couple recurring bills or my ipass.

Not sure this would be worth it to me as I don't spend big on Amazon. I do admit that since I got Prime, I started buying more stuff on there, but nothing big.
 

Primalzer

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I've been trying not to purchase as many things lately...this card would completely destroy those efforts...will keep this card in mind, and maybe wait until some people have used it and reported back to see what those "qualified purchases" are.
 

EmersonHart13

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After some boiler plate reading, the only items not eligible are "Amazon Prime memberships, digital newspaper and magazine subscriptions, and games and software downloads."
FYI
 

Primalzer

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Hmmmmmmm, a bit more enticing then....was half expecting only Prime purchases to be the "qualified purchases."
 

Turtle

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Hm... chase freedom had 5% Cashback last year from sept-dec. If I recall correctly.

Doesn't seem to have a sign up bonus or anything. While it can be a deal for some, currently not for me. I've stopped using Amazon prime lately, right around the collection of tax date. Not on purpose but just something I can get elsewhere because amazon isn't always the bottom dollar now, it's just quicker.

Good offer for some people tho this card is. I don't carry balances or I would of jumped in.
 

EmersonHart13

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I got it, took 30 seconds and now I have a free 40 bucks to spend.
 

Primalzer

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Just ordered $120 worth of stuff on Amazon, probably should've gotten the card :roflpicard:
 

EmersonHart13

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Hell yeah, we used to do pretty good on 3%, now with 5% it helps that little bit more to offset the tax.
 

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One thing I like about the chase one it's so easy to keep track of since it integrated w/my account (have chase for banking) so it's much easier to keep tabs on and pay on time.
 

EmersonHart13

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I use MINT.com and integrate all of my accounts across all providers together.
 

IDAFC21

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Thinking I might just sign up for this. I could buy that thrustmaster t300rs wheel for my ps4 I've been holding off on. With 0% interest for 6 months I would have more than enough time to pay it off before that horrible APR kicks in :rofl:
 

Prevent

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i've heard nothing but bad things about Synchrony Bank
 

EmersonHart13

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So far no issues, been good to me. 5% back as an automatic statement credit is awesomeness.
 

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