Let’s look at another cash back card, this one recently announced: the Chase Amazon Prime VISA Signature Card. Created especially for your chronic Amazon Prime shoppers.
- $70 Amazon gift card upon approval
- Earn 5% cash back on Amazon purchases
- Earn 2% cash back on gas, restaurants, and drug stores
- Earn 2% cash back on office supply stores until May 31, 2017 (and other potential bonuses in the future)
- Earn 1% cash back on all other purchases
- Redeem for purchases through Amazon
- No annual fee
- No foreign transaction fees
- VISA Signature benefits
- 14-74%-22.74% APR variable
- Must maintain Amazon Prime membership ($99, currently)
This card almost makes the list: no annual fee, no foreign transaction fee, (modest) signup bonus. And if you are a heavy Amazon shopper (and who isn’t these days, amirite?), you can certainly adjust the table above accordingly. That being said, it’s still a cash back card, and there are other options. If you’ve been in the travel hacking game, you know you can buy gift cards in stores where other cards offer spending bonuses, cards that may offer 5x bonuses from time to time at Amazon (like the Chase Freedom), and even an Amazon Prime Store (Charge) Card (5% credit back) to consider. Ultimately, this card might be justified as a card used only for Amazon (and, otherwise, kept in the sock drawer), but you may be losing some value in the bargain.
Note: there’s also the Chase Amazon Rewards VISA Signature Card for non-Prime shoppers. It offers a $50 gift card upon approval and 3% cash back on Amazon purchases; otherwise, it’s the same card.