The new Amazon Visa rewards program gives consumers five percent back on every purchase they make with the company's merchant accounts. With the two-year Amazon rewards program, consumers can expect to save as much as $100 per year.
There are actually two different Amazon Visa debit cards. The Amazon Visa Gold Card gives consumers five percent back on every purchase they make with the company's merchant account, while the Amazon Visa Platinum Card gives consumers five percent on all purchases. There is also a special Visa Gold Debit Card for card holders with an American Express Platinum account, which provides additional benefits, such as no annual fee, an increased rewards rate, and no annual fee for the second year of service.
The Amazon Platinum Card comes with a high annual percentage rate (APR), but at least with the first year of the card, there is no annual fee. If you pay your balance off at the end of the year, you can avoid the added fees.
Both of these cards come with a one hundred dollar credit limit, but the Gold Card offers a higher credit limit. The two-year program is limited to purchases made at participating merchants only, though.
The Amazon Rewards Visa card does not require that cardholders use it to make purchases, nor does it provide any rewards. The company does not charge a fee for credit lines, making it one of the most flexible and attractive options for consumers looking to save money. The company does not offer other reward programs.
Amazon has been able to lure consumers by offering its Visa rewards cards in different ways, depending on your situation. If you don't have an American Express card yet, consider joining the program and see what you could do!
As a reminder, both cards come with a limit on the dollar amount of money you can spend in a month. These limits can be adjusted up or down depending on your needs and the amount you want to invest each month. Each month, you can choose to have any or all of your monthly expenses added to your balance, which earns points towards a specific category of airline, hotel, car or restaurant travel.
If you are planning to take advantage of the Amazon Visa rewards program, it may be a good idea to apply online, as many applicants were turned away because they . . . . . . didn't fill out the application correctly. The application process can take some time, so you'll want to complete the application completely and make sure you understand the program completely before applying.
In addition, keep in mind that once you have received your card, it can't be cancelled or returned. so make sure you make the necessary plans to keep your card when you want to use it.