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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 premium travel card for value
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

1 - 10X points
10xEarn 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards®.
5xEarn 5x total points on flights through Chase Ultimate Rewards®.
3xEarn 3x points on other travel and dining.
1xEarn 1 point per $1 spent on all other purchases

Intro offer

80,000 bonus points
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®

Annual Fee

$550

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

If you are looking to take your premium rewards to the highest level, this card is really a no brainer in our eyes. Chase's Ultimate Rewards make points easy to redeem, with a wide range of 10 airline and three hotel transfer partners and a friendly user interface. Despite the high annual fee, Chase is consistently adding new benefits to keep the card competitive in a fierce premium rewards field.

Pros

  • $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year
  • Access to Chase Ultimate Rewards hotel and airline travel partners
  • Unlimited 3x points on the broad category of travel and dining
  • 50% more value when you redeem your points for travel through Chase Ultimate Rewards®
  • Broad definitions for travel and dining bonus categories

Cons

  • Steep $550 annual fee
  • May not make sense for people that don't travel frequently
  • You must spend the $300 travel credit before earning 3x points for travel and dining
  • No automatic hotel elite status
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,200 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
Best premium travel card for value
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 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards®.
5xEarn 5x total points on flights through Chase Ultimate Rewards®.
3xEarn 3x points on other travel and dining.
1xEarn 1 point per $1 spent on all other purchases
  • Intro Offer
    Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®

    80,000 bonus points
  • Annual Fee

    $550
  • 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

If you are looking to take your premium rewards to the highest level, this card is really a no brainer in our eyes. Chase's Ultimate Rewards make points easy to redeem, with a wide range of 10 airline and three hotel transfer partners and a friendly user interface. Despite the high annual fee, Chase is consistently adding new benefits to keep the card competitive in a fierce premium rewards field.

Pros

  • $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year
  • Access to Chase Ultimate Rewards hotel and airline travel partners
  • Unlimited 3x points on the broad category of travel and dining
  • 50% more value when you redeem your points for travel through Chase Ultimate Rewards®
  • Broad definitions for travel and dining bonus categories

Cons

  • Steep $550 annual fee
  • May not make sense for people that don't travel frequently
  • You must spend the $300 travel credit before earning 3x points for travel and dining
  • No automatic hotel elite status
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,200 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more