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

Jul 9, 2020

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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 

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The Amazon Prime Rewards Visa is a Chase card, subject to the issuer’s unpublished 5/24 rule.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 Eric Helgas/ The Points Guy

Chase Sapphire Preferred® Card

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.

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More Things to Know
  • 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 travel and dining at restaurants worldwide & 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, 60,000 points are worth $750 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

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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