Amazon has recently launched a new credit card called Amazon Prime Rewards Visa Signature Card via JPMorgan Chase. The Amazon Prime Rewards Visa Signature Card is offering 5% cash back for spending money at Amazon.com if you join the Prime membership. To find out if you are earning 5% cash back, you can login into your Amazon account and go to Manage Payment Options in Your Account.

The 5% cash back not only apply to monthly and yearly Amazon accounts. It also include other Amazon Prime memberships such as Amazon Prime Fresh, Amazon Family, and Amazon Prime Student. Even though it doesn’t have any annual fee, it costs $99 to maintain your Prime membership. There are several perks that you will enjoy when you have a Prime account, for example, you don’t have to pay to get 2 days expedited shipping.

Amazon Prime Rewards Visa Signature credit card can stop earning 5% cash back and earn a 3% cash back instead if you did not renew your Prime membership. You will also earn cash back when you use the card to spend money at other stores. There is a 2% cash back on dining, gas and pharmacy. Spending in all other categories will be rewarded with a 1% cash back.

The new metal credit card looks like the Chase Sapphire Reserve card. Every 100 points that you earn is equivalent to $1. in order to redeem your points for cash, you must accumulate at least 2,000 rewards points. It does not put any cap on how many points you can earn. The points will stay in your account as long as it is active. You will lose the points if the account that is linked to the card is terminated.

Amazon Prime Rewards Visa Signature Card offers a signup bonus of $70. There is no minimum spending requirement that you need to meet in order to take advantage of the signup bonus. You can redeem the signup bonus instantly. They will send the $70 sign up bonus in the form of a gift card voucher that you can use for your shopping at Amazon.com. The amount of points you have accumulated will be reflected on the checkout page. You can choose to apply the points you earn towards the total of your purchase in the checkout at the Amazon online store. The card does not charge any foreign transaction fee if you decide to use the card for your overseas shopping.

Amazon Prime Rewards Visa Signature Card is an improvement on the old Amazon Rewards card that only earn 3% cash back and charges foreign transaction fee. The new rewards credit card is suitable for people who regularly shop at Amazon.com.

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