Maximize your Amazon Prime Day purchases with these cards
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If you’re an avid Amazon shopper, it should come as no surprise that the 2020 Amazon Prime Day is here. For those not familiar, the event is essentially Black Friday for those with an Amazon Prime membership, with thousands of exclusive deals throughout the day. Even if you’re not currently an annual Amazon Prime member, you can sign up today for a free trial or a monthly membership to take advantage of the sale. In addition, Prime Student offers college students to receive a free six-month trial membership.
The sale officially began at 3:00 a.m. ET on Tuesday, with new deals starting as often as every five minutes. And while the discounts are exciting in and of themselves, there are also ways to maximize your return on Amazon spending during this one-day sale.
You can check out this post for a deep dive into the best cards for Amazon purchases — not only on Prime Day but every day of the year. But, for a quick hit on this sale day, here are some of the best credit cards to use for your purchases (in no particular order).
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Earning rates: Earn 5% cash back on Amazon.com and Whole Foods Market purchases, 2% back at restaurants, gas stations and drugstores and 1% back on all other purchases.
Sign-up bonus: Earn a $100 bonus upon approval.
Annual fee: $0
Analysis: As the name might suggest, the Amazon Prime Rewards Visa Signature Card is a good option for your Prime Day purchases. Upon approval, you’ll get a $100 gift card automatically loaded into your Amazon.com account — so theoretically, if you apply for the card today and are approved, you’ll have that $100 credit to use in time for the day’s sales. In addition to the gift card credit, you’ll usually earn 5% cash back on Amazon.com and Whole Foods Market purchases, 2% back at restaurants, gas stations and drugstores and 1% back on all other purchases.
However, in honor of Prime Day, Amazon is currently offering cardholders up to 25% back on select bestsellers, including Ring products, AmazonBasics kitchenware, electronics and digital gaming products. This elevated return is available for purchases through Oct. 18.
The points you earn from spending can then be used directly on Amazon purchases or for a statement credit — 100 points equal a dollar when redeemed on Amazon.com or for cash. The card charges no annual fee, but you must be a Prime member to be eligible; membership costs $119 for 12 months.
Earning rates: Earn 5% back on travel purchased through Chase Ultimate Rewards, 3% back on dining, 3% back at drugstores and an unlimited 1.5% cash back on everything else.
Sign-up bonus: Earn a $200 bonus after spending $500 in their first three months.
Annual fee: $0
Analysis: If you’re interested in earning cash back (or Ultimate Rewards points), the Chase Freedom Unlimited could be a good option for your Prime Day purchases. The card will earn you 1.5% cash back on general purchases with no limit. That equals 1.5 points per dollar when paired with an Ultimate Rewards-earning card — a 3% return based on TPG’s valuations. There’s no annual fee with the card.
Earning rates: Earn 4x points at restaurants worldwide, 4x points at U.S. supermarkets (on the first $25,000 spent each calendar year; then 1x), 3x points on flights booked directly with airlines orand 1x on everything else.
Welcome bonus: Earn 60,000 Membership Rewards points after you spend $4,000 on purchases in the first six months of account opening. Check the CardMatch Tool to see if you’re targeted for a 75,000-point Gold Card offer (offers are subject to change at any time).
Annual fee: $250 (see rates and fees)
Analysis: For high-value purchases, you’ll want to use a card that offers generous purchase protection, such as the Amex Gold Card. With the Amex Gold Card, you’ll earn just 1x Membership Rewards points on Amazon purchases, which is a rather lackluster return of 2% based on our valuations. However, you’ll get an astounding $10,000 in protection per incident and up to $50,000 for all incidents in a calendar year, as well as other key shopping benefits like return protection and extended warranty. The card has a $250 annual fee (See Rates & Fees), but that’s recouped through benefits like up to $120 in dining credits each year, 4x points on dining.
You can also consider purchasing Amazon gift cards from select US supermarkets with the Amex Gold (earning 4x points up to $25,000 a year; then 1x) or from select office supply stores with the Chase Ink Business Cash® Credit Card (earning 5% cash back/5x points up to $25,000 a year). Just note that’ll you’ll forfeit credit card purchase protection if you go this route.
If you’re planning on grabbing any Amazon Prime Day deals, not only will you be saving money, but — provided you use the right card — you’ll also be maximizing the return on your purchase(s).
Follow The Points Guy for comprehensive coverage of Prime Day 2020 — click here for more great deals.
For rates and fees of the Amex Gold Card, please click here.
The information for the Amazon Prime Rewards’ cards has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Featured image by Smith Collection/Gado / Getty Images.
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WELCOME OFFER: 60,000 Points
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.