Check your email: You could be targeted for a 4% back offer on your Amazon Prime Visa
Update: Some offers mentioned below are no longer available. View the current offers here.
If you are a cardholder of the Amazon Prime Visa Signature Credit Card, make sure to check your email. A round of targeted offers have been sent out to some cardholders temporarily offering up to 4% back on all purchases (except Amazon and Whole Foods, which will continue to earn 5% back).
The information for the Amazon Prime Visa Signature has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
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I was able to confirm with Chase that the issuer is sending out targeted, tiered offers to select Amazon Prime Visa cardholders. So based on reader reports sent into Doctor of Credit, as well as data points from our TPG Lounge members, it looks like these are the two tiers:
- 2% back on everyday purchases through Nov. 11, 2020
- 4% back on everyday purchases through Feb. 11, 2021
Both offers require enrollment through a unique link sent in the email offer before Sept. 22, 2020, but neither seems to have a cap on the rewards you can earn throughout the promotional periods.
What purchases qualify for the bonus offers?
You'll earn the specified bonus on all purchases except for Amazon and Whole Foods, which already earns 5% back. Those who have the 2% offer will continue to earn that standard rate across restaurants, gas stations and drugstores. But instead of getting 1% back on non-bonus purchases, you'll get 2% on those expenses as well. If you have the 4% offer, you'll technically earn an additional 2% on the standard rewards rate at restaurants, gas stations, and drugstores, plus a full 4% on all non-bonus purchases.
Related: The best cash back card for each bonus category
Is this offer worth it?
It depends on which offer you receive and what other cards you have in your wallet.
If you got the 4% offer, this card is definitely worth pulling out of retirement to use on non-bonus spending. No other card offers a 4% return across non-bonus spending, even when you factor in the fact that TPG values transferable currencies more than cash back. Depending on what other cards you have, the 4% back on restaurants, gas stations and drugstores may or may not be a great option.
For example, you're getting a 6% return (based on TPG's valuations) on restaurants with the Chase Sapphire Reserve. And the Citi Premier® Card currently gets a 5.1% return on eligible gas purchases. The information for the Amazon Prime Visa Signature card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
If you got the 2% offer, it pretty much all depends on which cards you have. For example, if you have a Chase Freedom Unlimited and an Ultimate Rewards card like the Chase Sapphire Preferred Card, you're really getting a 3% return on all non-bonus spending with the CFU. And 2% back on restaurants, gas stations and drugstores is nothing to write home about.
Related: Complete guide to credit card benefits during the pandemic
This is an excellent way to maximize rewards across non-bonus spending, especially for those with the 4% offer, so the offer is worth activating. How much you should use your Amazon Prime Visa throughout the promotional period will depend on what other cards you have. But regardless, this certainly has the potentially to be a lucrative offer for targeted Amazon Prime Visa cardholders.
A Chase representative did confirm that all targeted cardholders (who have elected to receive marketing emails from Chase) should get an offer in their inbox with a unique link to activate the offer.
Related reading: 3 reasons why the Amazon card is on my 2020 wish list