Is the Amazon Prime Visa Signature Card Still Worth it in 2023?

Is the Amazon Prime Visa Signature Card Still Worth it in 2023?

💳 Learn more on the Amazon Prime Visa Signature Card:
➡️
Click “show more” for ad disclosure

Credit Shifu Wallets:

“The content in this video is accurate as of the posting date. Some of the offers may no longer be available.”

Advertiser Disclosure: This site is part of an affiliate sales network and receives
compensation for sending traffic to partner sites, such as CreditCards.com. This
compensation may impact how and where links appear on this site. This site does not
include all financial companies or all available financial offers.


Hey credit Warriors welcome to the show And in this video we are going to be Taking a look at one of the most popular Credit cards out there on the US Credit Card Market the Amazon Prime Visa Signature card we're going to be asking The question is it still worth it in 2023 so the Amazon Prime Visa signature Card is one of three payment cards Available to Prime members the other two Are the prime Store card if you don't Know a store card can only be used at One store in this case Amazon and then We have the prime secured card which Could be used to build credit and earn Some rewards at Amazon too but in this Video we are just talking about the Amazon Prime Visa signature card now you Do have to be a Prime member to sign up For this card and Prime membership costs 139 a year so you could think of the Prime membership fee as the annual fee In the case where you had only signed up For Prime in order to get this card and Whoa wrong Prime That's better but most people have Amazon Prime anyway for things like the Free shipping so if you fall into that Category it really is like the card has No annual fee let's now go through the Main benefits the card earns five Percent cash back at Amazon Whole Foods And Amazon fresh as long as you have an Active Prime Membership then we have a

New benefit which is five percent back On Chase travel they added that this Year and then we have two percent back On three categories gas stations Restaurants and local Transit and Commuting and then one percent and Everything else and we should also point Out that on Prime day which was I think It was July 11th and 12th this month so Earlier this month they jacked that five Percent up to six percent on Amazon the Rewards accumulate daily and you can Redeem them directly on Amazon.com or Through Chase for things like gift cards Etc you can also get some discount uh 10 Or more on Amazon limited time offers I Tried to search for these but it really Was wasn't clear how to find them and Whether I was getting these offers I Mean I did find some stuff but whether I Was getting the offers because I'm a Prime member or because I have the card I really wasn't sure then you also have The option to use your card to finance Your Amazon purchase of 50 or more at Zero percent interest but you forfeit Your five percent cash back so if I Wanted to buy this seventy thousand Dollar Rolex I could pay five thousand Nine hundred dollars a month for 12 Months okay that was kind of a joke my Credit limit on the card is only fifteen Thousand dollars so that charge wouldn't Even go through anyway but the concept

Is valid you can use the card to finance Things however do remember that purchase Is deducted from your available credit So it could affect your credit score if Your utilization goes too high so you Might actually be better off financing Using a firm which Amazon also provides Although I guess the good thing about Financing with the Amazon card is that There would be no eligibility check Since you already have the card you Already approved for that credit limit With a firm you do you need to apply Each time you use it however they Actually don't do a hard credit pull Either so maybe there's not much in it Between the two then the card also Provides some travel protections such as Baggage delay insurance and lost baggage Insurance however there is no trip delay Interruption or cancellation insurance And that's something to think about if You're thinking about using this card Through Chase travel to get that five Percent back on your travel purchases Personally I wouldn't use it I would use A card that has trip delay and Interruption insurance as well as the Baggage Insurance okay so a card like The sapphire prefer but I guess being Insured for your baggage is better than Nothing so would I recommend this card If you are an Amazon Prime member yes Absolutely I would for me Amazon

Purchases are all I use it for I just Want that five percent back it's like a Five percent discount on all of your Amazon spending and if you're looking at Cashback cards really five percent Um is where you're aiming all right That's kind of As Good As It Gets okay There are some cards that maybe give six Percent in some limited capacity but Generally five percent is as good as it Gets with cashback and literally for This card I only use it for Amazon on The day I got it I entered it as a Payment method in my Amazon account and I haven't seen it since like literally I Don't know where it is I wanted to use It as a prop for this video but I can't Because I can't find it but yeah Amazon And maybe Whole Foods are all I would Recommend it for if you're looking at Those other categories those two percent Categories like gas restaurants Etc There are other credit cards both Cashback and points based cards that Earn way better earnings rates in those Categories and then I wouldn't recommend It for air travel or hotels either Because of the lack of trip delay and Interruption Insurance then there's also Collision damage waiver for rental cars Which I haven't mentioned until now but I would not recommend using that either Um because it is secondary okay which Means you have to claim on your own

Insurance first and the collision damage Waiver just picks up whatever you're Insurance won't pay and that won't do Because you don't want to let your own Insurance know that you've had an Accident because your premium may go up So in conclusion I would say if you're a Prime member already this card is a No-brainer it makes absolute sense to Use Amazon and Whole Foods just don't Use it anywhere else and actually if you Apply for this card today you can get a 200 Amazon gift card as a welcome bonus And there's no spend requirement for That it's just you sign up and Bam 200 In your account that's actually a really Good bonus for a car that technically Has no annual fee and just a little note If you're watching this in the future That 200 bonus is probably over but There probably will be some other type Of welcome bonus on the card at that Time you can click my link below to Learn more about this card if you are Interested of course using our links Does help out our show so we thank you Very much if you do however do not feel Obliged to do so thank you very much for Watching guys and we will see you in the Next video

You May Also Like

About the Author: James

Leave a Reply

Your email address will not be published. Required fields are marked *