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3 reasons why the Amazon Card is on my 2020 wish list

July 09, 2020
4 min read
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I’m a fan of combining the power of cash back and travel cards as part of a credit card strategy, but I’ve definitely been more focused on travel rewards than cash back — especially when it comes to the cards I’ve added to my wallet since I started traveling more the past two years.

That being said, there is one cash-back card I’m seriously considering applying for this year: the Amazon Prime Rewards Visa Signature Card. Here are three reasons this card has managed to land at the top of my 2020 wish list.

5% on Amazon

I’m not going to lie — I spend a lot on Amazon.

I’m a huge book nerd, and I order a lot of new releases on Amazon if I can’t find them at my favorite local bookstore. I also buy most of my skincare routine from Amazon, along with travel accessories, home decor, kitchen essentials and more. Plus, I have a Prime Membership for shipping and Prime Video.

Yet I don’t currently have a card that earns bonus rewards on Amazon spending. It’s one of the largest holes in my current card strategy. Since Amazon isn’t a common spending category (aside from the occasional rotating category), the Amazon Card earning 5% back year-round on Amazon purchases (plus Whole Foods) is a solid option.

And if that wasn’t enough incentive, I’m also considering buying an iPad Pro on Amazon. With this card, I could earn an easy $50 off that purchase alone.

(Photo by David MAREUIL/Anadolu Agency/Getty Images)
The possibility of 5% back on an iPad Pro is a major incentive to apply for the card. (Photo by David MAREUIL/Anadolu Agency/Getty Images)

No annual fee

The card doesn’t charge an annual fee, which makes it a low-risk application for me. Aside from the fact that you have to be a Prime member (for which I pay the $119 annual fee regardless), it doesn’t cost me any money year after year to keep this card in my wallet.

If it turns out that I don’t really use it much, or if I decide that I’d rather get points on Amazon than cash back, I can always put it in the sock drawer. The fact that it won’t cost me any money in annual fees means the potential disadvantages to getting the card are limited.

Related reading: Best no-annual-fee credit cards of 2020

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I’m still under 5/24

The Amazon Prime Rewards Visa is a Chase card, subject to the issuer’s unpublished 5/24 rule. This means that in order to apply and be realistically approved for the card, I need to get it before I’m over 5/24.

Right now, I am under 5/24, but that may not be the case by next year depending on if any of the cards on my current long-term wish list offer any solid bonuses at the end of 2020 or into 2021. If I’m hoping to add this card to my wallet, now is a good time.

Related reading: The best ways to use your Chase 5/24 slots

Bottom line

At TPG, we’re generally proponents of earning transferable points wherever possible — but there are plenty of cash back credit cards out there that make great additions to anyone’s credit card strategy. And with so many people choosing to forgo travel in 2020, cash back is a more appealing redemption option than ever.

The Amazon Prime Rewards Visa checks a lot of boxes for me — it covers a spending category I currently don’t earn bonus rewards with, it’s low-risk and low-cost and I’m still eligible to apply since I’m under 5/24.

Featured image by (Photo by Eric Helgas/ The Points Guy)

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Our points-obsessed staff uses a plethora of credit cards on a daily basis. If anyone on our team wouldn’t recommend it to a friend or a family member, we wouldn’t recommend it on The Points Guy either. Our opinions are our own, and have not been reviewed, approved, or endorsed by our advertising partners.
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TPG featured card

Best card for premium perks while traveling
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards

2 - 10X points
10XEarn unlimited 10X miles on hotels and rental cars booked through Capital One Travel
5X5X miles on flights booked through Capital One Travel.
2X2 Miles per dollar on every purchase, every day

Intro offer

75,000 bonus miles
Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel

Annual Fee

$395

Recommended Credit

740-850
Excellent
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Why We Chose It

The Capital One Venture X card is one of the best all-round travel credit cards ever launched. Not only is it offering a tremendous welcome bonus, but cardholders can earn tons of miles on everyday spending and receive a 10,000-mile anniversary bonus to boot. Its annual fee is $395, but cardholders can count on up to $300 in statement credits toward travel booked through Capital One Travel each year and other valuable benefits like access to Priority Pass lounges and Capital One’s own growing family of airport lounges.

Pros

  • Excellent welcome offer worth 75,000 miles after you spend $4,000 on purchases in the first three months.
  • Up to $300 in annual travel statement credits toward bookings make through Capital One Travel.
  • 10,000 bonus miles (worth $100 toward travel) each account anniversary.

Cons

  • The $395 annual fee might be expensive for some, but this card’s benefits provide much more value than that.
  • If you don’t travel frequently, this might not be the best card for you.
  • Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
  • Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options
  • Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
  • Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
  • Earn unlimited 2X miles on all other purchases
  • Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
  • Receive up to a $100 credit for Global Entry or TSA PreCheck®
  • Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
  • Named editors' choice for "Best New Credit Card of 2021" by The Points Guy
  • Earn 10 miles per dollar when you book on Turo, the world's largest car sharing marketplace, through May 16, 2023
Best card for premium perks while traveling
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards Rate

10XEarn unlimited 10X miles on hotels and rental cars booked through Capital One Travel
5X5X miles on flights booked through Capital One Travel.
2X2 Miles per dollar on every purchase, every day
  • Intro Offer
    Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel

    75,000 bonus miles
  • Annual Fee

    $395
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    740-850
    Excellent

Why We Chose It

The Capital One Venture X card is one of the best all-round travel credit cards ever launched. Not only is it offering a tremendous welcome bonus, but cardholders can earn tons of miles on everyday spending and receive a 10,000-mile anniversary bonus to boot. Its annual fee is $395, but cardholders can count on up to $300 in statement credits toward travel booked through Capital One Travel each year and other valuable benefits like access to Priority Pass lounges and Capital One’s own growing family of airport lounges.

Pros

  • Excellent welcome offer worth 75,000 miles after you spend $4,000 on purchases in the first three months.
  • Up to $300 in annual travel statement credits toward bookings make through Capital One Travel.
  • 10,000 bonus miles (worth $100 toward travel) each account anniversary.

Cons

  • The $395 annual fee might be expensive for some, but this card’s benefits provide much more value than that.
  • If you don’t travel frequently, this might not be the best card for you.
  • Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
  • Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options
  • Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
  • Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
  • Earn unlimited 2X miles on all other purchases
  • Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
  • Receive up to a $100 credit for Global Entry or TSA PreCheck®
  • Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
  • Named editors' choice for "Best New Credit Card of 2021" by The Points Guy
  • Earn 10 miles per dollar when you book on Turo, the world's largest car sharing marketplace, through May 16, 2023