Check your email: You could be targeted for a 4% back offer on your Amazon Prime Visa

Aug 13, 2020

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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).

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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.

Screenshot courtesy of TPG reader Jenny E.
(Screenshot courtesy of TPG reader Jenny E.)

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 Citi Premier and 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.

The information for the Chase Freedom Unlimited has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Related: Complete guide to credit card benefits during the pandemic 

Bottom line

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 

Featured image by Eric Helgas/ The Points Guy

 

Chase Sapphire Preferred® Card

WELCOME OFFER: 80,000 Points

TPG'S BONUS VALUATION*: $1,600

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.

Apply Now
More Things to Know
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
  • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
Intro APR on Purchases
N/A
Regular APR
15.99%-22.99% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent/Good

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