14 Benefits and Perks of the Prime Visa Card [$1,500+ Value]

For those who frequently shop with Amazon, you won’t find a card that offers more cash-back for these purchases than the Prime Visa card.

If you’re still on the fence and trying to determine whether the card is right for you, this complete guide will break down every benefit and perk of the card to help you determine just how much value it can offer you each year.

Earning Cash-Back

1. Welcome Bonus Offer [$150]

New cardholders of the Prime Visa card can find the current welcome offer below. If you don’t already have an Amazon Prime membership, this welcome bonus can help make up for the $139 annual Amazon Prime membership fee.

Prime Visa Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A strong rewards card if you shop regularly at Amazon.com and Whole Foods.

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Prime Visa Card

A strong rewards card if you shop regularly at Amazon.com and Whole Foods.

Welcome Offer

Get a $150 Amazon Gift Card instantly upon approval exclusively for Prime members.

$150 Amazon gift card

UP's Bonus Valuation*:

$150

Annual Fee

$0

APR

19.74% - 28.49% Variable

Why We Like This Card

We all do our fair share of shopping on Amazon, some of us more than others, and when we shop with Amazon, we obviously want to get the best deal possible. Now, with the Prime Visa Card, you can add a credit card to your wallet that will help you do just that.

You’ll not only earn rewards on all of your Amazon and Whole Foods purchases, but on 4 other bonus categories as well, along with flexible redemption options, all for no annual fee!

When you consider everything that the Prime Visa card offers, it is basically a no-brainer for those who frequently shop with Amazon. Let’s dig a little deeper to see just how much the card can save you.

Pros & Cons

Pros

• Earn 5% back at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership
• Earn 2% back at gas stations, restaurants and on local transit and commuting (including rideshare)
• Earn 1% back on all other purchases

Cons

• Amazon Prime membership required

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Card Highlights

• Get a $150 Amazon Gift Card instantly upon approval exclusively for Prime members
• Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership
• Prime Card Bonus: Earn 10% back or more on a rotating selection of items and categories on Amazon.com with an eligible Prime membership
• Earn unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare)
• Earn unlimited 1% back on all other purchases
• No annual credit card fee
• No more waiting. Redeem daily rewards at Amazon.com as soon as the next day
• Member FDIC

Financial Snapshot

• APR: 19.74% - 28.49% Variable
• Foreign Transaction Fees: $0

2. 5% Cash-Back Categories [$1,000+]

With the Prime Visa card, you’ll earn a market-leading 5% cash-back at Amazon.com, Amazon Fresh, Whole Foods Market, and Chase Travel purchases.

That’s right, your 5% cash-back rewards are not just limited to purchases made on the website, but also extend to grocery purchases made via Amazon Fresh or Whole Foods, plus travel purchases made through the Chase Travel portal.

According to Amazon survey results conducted by Upgraded Points, the average Amazon Prime member spends $110 on Amazon each month, or $1,320 a year. Earning 5% back on these purchases would amount to $66 in cash-back savings.

In a study done by U.S. News, an average grocery budget for a family of 4 is $1,300 per month, or $15,600 a year. If you’re willing to do your grocery shopping through Amazon Fresh and/or Whole Foods, earning 5% cash-back on these expenses would amount to $780 per year.

Lastly, Forbes found that most Americans plan to spend $4,000 per year on travel. Again, if you’re willing to purchase your travel through the Chase Travel portal, earning 5% cash-back on your travel would earn you $200 in cash-back.

Combining the estimated cash-back earned on Amazon purchases, grocery purchases, and travel purchases amounts to a cash-back savings of over $1,000 per year! That said, the exact amount you’ll save might differ based on how much you spend on each of these categories each year.

3. 2% Cash-Back Categories [$180]

The cash-back rewards don’t stop there, though, as cardholders also earn 2% cash-back at gas stations, at restaurants, and with local transit and commuting purchases (including rideshares).

JD Power states that the average American household spends $5,000 per year on gas for their vehicles. If you’re not already earning cash-back on these purchases, earning 2% back with the Prime Visa card would save $100 in cash-back each year.

According to the Bureau of Labor Statistics, the average U.S. household spends roughly $300 a month at restaurants, or $3,600 a year. Earning 2% cash-back on these purchases would amount to $72 in cash-back each year.

Depending on where you live, you might not make purchases that fall within the local transit and commuting category often, but it does include trains, taxis, rideshare services, ferries, tolls, parking, buses, and subways. If you spend roughly $50 a month on these purchases, by the end of the year you’ll have earned $12 in cash-back.

Redemption Options

4. Amazon Credit or Cash-Back

The cash-back you’ve earned with your Prime Visa card comes in the form of points that are worth 1 cent apiece.

When you’re ready to redeem you can use them during checkout when making new purchases via Amazon and its affiliates, or you can just as easily apply the cash-back you your credit card bill to offset any purchases you’ve already made. Further, there is no redemption minimum, so you can redeem your cash-back whenever you’d like.

Shopping Benefits and Protections

5. No Annual Fee

Despite the card requiring an Amazon Prime subscription in order to open it, the odds are that you already have an Amazon Prime subscription for your household. Plus, the card has a $0 annual fee, so you can start taking advantage of the cash-back and benefits the card provides at no added cost to you.

6. Additional Cash-Back on Select Items [$25]

Thanks to your Prime Visa card, you can earn an additional 5% cash-back on a rotating selection of items and categories on Amazon.com, for a total of 10% cash-back on these purchases. You’ll see which items are eligible as you navigate the Amazon website, and the extra cash-back will post to your account within a week of the transaction posting.

7. Purchase Protection [$50]

New purchases made with your Prime Visa card are covered against accidental damage or theft within 120 days from the purchase date up to $500 per claim and $50,000 per account.

To qualify, at least part of your purchase needs to be made with your card, and your item may be eligible for replacement, repair, or reimbursement.

8. Extended Warranty Coverage [$25]

Eligible items purchased with your card have their U.S. manufacturer’s warranty increased by 1 year if the original warranty is less than 3 years.

9. Access to Chase Offers [$50]

With Chase Offers, you’ll receive discounts from dozens of different merchants each month. This is a great way to receive even more value by saving additional cash on purchases you were planning to make anyway.

Travel Benefits and Protections

10. No Foreign Transaction Fees [$50]

The Prime Visa card does not charge foreign transaction fees, so you can freely use it when traveling overseas to continue earning cash-back.

11. Baggage Delay Insurance [$50]

If your travel carrier delays your bag by more than 6 hours, you will be covered up to $100 per day, for up to 3 days, for emergency supplies like toiletries or clothing purchases.

12. Lost Luggage Insurance [$50]

If the carrier you are traveling with loses your bag or damages it during transit, you’re covered for up to $3,000 per person per trip.

13. Auto Rental Collision Damage Waiver [$50]

In the U.S., rental car coverage is secondary when you decline the rental company’s collision insurance and pay for your rental car with the Prime Visa card.

14. Travel Accident Insurance [$50]

When you pay for your air, bus, train, or cruise transportation with your card, you are eligible to receive accidental death or dismemberment coverage of up to $500,000.

Final Thoughts

If this wasn’t obvious already, the Prime Visa card is an excellent option for frequent Amazon shoppers thanks to the value it can offer you each year. That said, the exact value you’ll receive depends entirely on how much you use the card for daily purchases and its benefits, so your annual value may differ from our figures above.

If your household already has an Amazon Prime subscription, and you regularly shop with Amazon and its affiliates like Amazon Fresh and Whole Foods, you’ll be hard-pressed to find a better card for these purchases than the Prime Visa card.