by Emily Thompson, Newsletter & Partnerships Editor
If you’re like me and turn to Amazon for everything you need, you probably already have a countdown for the start of Prime Day on July 16. For everyone else, I’m happy to share mine — it’s one week from today.
And that means it’s time for my favorite type of presale prep: making a plan to stack credit card deals and bonus earning rates to save and earn as much as possible.
Last year, I knew I would be spendy on Prime Day, so I got the no-annual-fee Prime Visa to take advantage of its welcome offer of an Amazon gift card to help offset the cost of my purchases and earn 5% back on my remaining Amazon spending.
If you’ve been considering getting the Prime Visa, now is the perfect time. It’s currently offering its best welcome bonus of a $200 Amazon gift card instantly upon approval. And even beyond the welcome offer, you’ll earn 5% on Amazon and Whole Foods purchases — and can redeem your rewards in your Amazon account to pay for your orders. This is the best consistent earning rate around for Amazon spending.
But getting the Prime Visa isn’t the only way to save on Prime Day. If you have a card that earns American Express Membership Rewards points, you may be targeted for a discount when you use points to pay for a part of your Amazon purchase. I was targeted for 15% off (with a maximum discount of $15), but some TPG staffers have offers as high as 50% (with a maximum discount of $75). Check this link to see if you’re eligible and activate your offer.
An important note: You have the option to use several types of points to pay directly at checkout on Amazon, but we really suggest avoiding this. It’s a case where you’re trading value for convenience, and you’ll almost always get a lower value than if you redeemed your points for cash back or travel. The exception to this rule is the Prime Visa, because you’ll get the same redemption value whether you cash the points out through Amazon or for a statement credit.
Want to take a deeper dive into Prime Day prep? These may help:
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