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Amazon Visa upped their rewards to 5% for prime members
Posted by: archipirata
Date: January 11, 2017 10:58AM
Amazon Prime’s latest perk is a new Rewards Visa Card with 5% back

[techcrunch.com]

If you have an Amazon Visa, you were getting 3% back on Amazon purchases, 2% on gas and restaurants and 1% on everything else. They have now increased the 3% on Amazon purchases to 5% back if you are also a prime member.

If you shop a lot on Amazon like I do, this is a significant change.

Note: You must go into your payment settings on Amazon and manually opt in for the 5% even if you already have the card and prime.



Athens, OH
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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: Acer
Date: January 11, 2017 11:46AM
Amazon (non-Visa) store card has been offering 5% for prime members for some time. Can't use it anywhere else, of course.



Edited 1 time(s). Last edit at 01/11/2017 11:48AM by Acer.
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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: Gareth
Date: January 11, 2017 11:52AM
I wish it was easier to convert credit cards. I have a Chase card I would gladly convert to the Amazon card if I didn't have to apply from scratch for it.
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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: mattkime
Date: January 11, 2017 11:58AM
Thats 5% back for Amazon purchases only.

I've had 5% back via the amazon store card for a while now.



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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: Michael
Date: January 11, 2017 12:00PM
Quote
archipirata
Amazon Prime’s latest perk is a new Rewards Visa Card with 5% back

[techcrunch.com]

If you have an Amazon Visa, you were getting 3% back on Amazon purchases, 2% on gas and restaurants and 1% on everything else. They have now increased the 3% on Amazon purchases to 5% back if you are also a prime member.

If you shop a lot on Amazon like I do, this is a significant change.

Note: You must go into your payment settings on Amazon and manually opt in for the 5% even if you already have the card and prime.

Thanks so much. That last sentence matters!
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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: GGD
Date: January 11, 2017 12:02PM
So does this mean that Amazon just adjusted all of their prices so that there's an extra 2% of profit in everything?
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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: mattkime
Date: January 11, 2017 12:03PM
Quote
GGD
So does this mean that Amazon just adjusted all of their prices so that there's an extra 2% of profit in everything?

I think it means they're taking a portion of the cut that credit card companies would normally get.



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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: GGD
Date: January 11, 2017 12:45PM
Quote
mattkime
Quote
GGD
So does this mean that Amazon just adjusted all of their prices so that there's an extra 2% of profit in everything?

I think it means they're taking a portion of the cut that credit card companies would normally get.

I assumed that was how they were offering the original 3%, are credit card generally taking 5% from each merchant transaction these days?
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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: graylocks
Date: January 11, 2017 12:46PM
Quote
Acer
Amazon (non-Visa) store card has been offering 5% for prime members for some time. Can't use it anywhere else, of course.

i stopped using the Amazon store card when i realized it was for immediate statement credit not points. i like save up my points to treat myself.



"Success isn't about how much money you make. It is about the difference you make in people's lives."--Michelle Obama
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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: NewtonMP2100
Date: January 11, 2017 12:48PM
.......most of their prices are more than 5% higher.....yes, they have deal often that are below market......



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I reject your reality and substitute my own!
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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: graylocks
Date: January 11, 2017 12:48PM
just updated my account. yay!



"Success isn't about how much money you make. It is about the difference you make in people's lives."--Michelle Obama
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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: sekker
Date: January 11, 2017 03:41PM
Thanks. Might be worth getting the extra credit card.
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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: tenders
Date: January 12, 2017 08:44AM
5% on Amazon purchases, where a meaningful amount of my discretionary spending takes place, is a substantial perk. The 1% on most of everything else is pretty standard.

In the '90s there was a no-fee Apple Visa card that gave you 5% credit on Apple equipment on everything you put on the card. That ended up funding a large portion of my Performa 6214, which was easily the lamest Apple product I've ever owned.

It's been a long time since I was tempted to get another credit card...that is tempting.
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Re: Amazon Visa upped their rewards to 5% for prime members
Posted by: BobC
Date: January 12, 2017 09:36PM
I have the Amazon Visa, but not Prime, so I'm already getting 3% on Amazon purchases. I use the points to pay via statement credits, rather than for "free" purchases, so the 3% keeps rolling in. If I switched to Prime for $99 just to get the extra 2% back, I'd need to spend an extra $5000/year there to break even. I think I'll pass.
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