Amazon Credit Card - Should You Get One?

Summary - If you are constantly buying stuff from amazon.com, whether it be DVDs, Blu Ray or CDs, (oh! And I almost forgot) books, then the Amazon credit card is specifically targeted at you to keep you coming back. Let's see what this card has to offer.

Amazon Rewards - The first thing you get when you are approved for this card is a $30 Amazon.com gift card which will be immediately loaded into your Amazon.com account. Then, for every dollar that you spend at amazon.com, you get 3 points. You earn 2 points for every dollar that you spend at gas stations, restaurants and drugstores. For other regular purchases, you obviously earn the standard one point.



Redeeming Amazon Points - If you have this card, you could use your points at checkout with Shop with Points. You can either pay your entire purchase with points, or part points and part cash (ie credit card). If you use your gift card, then your final cost will exclude the use of points, followed by gift cards. In terms of value 100 points equals $1 off in price.

Fees - There is no annual fee for this card.

Amazon Credit Card Alternatives

Right now, we are going to explore alternative credit cards that allow you to somehow either earn points or get rewards for Amazon.com. The reason we want to explore this is because some of us may occasionally shop at Amazon.com, but are not serial shoppers there.

Chase Ultimate Rewards - The Chase Ultimate Rewards program allows you to exchange points for Amazon.com gift cards. Right now, there are a couple of no annual Chase cards that have the Ultimate Rewards program. The first is the Chase Freedom. Right now, they are offering a $200 sign up bonus (better than $30 gift card from Amazon Visa!). While you cannot earn 3 points for Amazon purchases, you can earn 5% (or 5 points) on certain quarter rotating categories. You can also earn more points when you shop online with their 400+ online merchant partners.



Membership Rewards - Cardholders of American Express can also link their Membership Rewards account with their amazon.com account and use Membership Reward points during checkouts. 1000 MR points gets you $7 in value (slightly less than 1%). Hence, I would not be really inclined to use MR for amazon purchases.

Amex Blue Cash Everyday - The New Blue Cash Everyday pays 2% rebates on department stores. We have heard feedback that Amazon.com is considered one and you can 2% cash rebates there. This really is a great cash back card and I would highly recommend this as an all round cash rebate card.

Citi Forward Card - The Citi Forward Card allows you to earn 5 points for every dollar that you spend on books, movies and music. Hence, you might also want to consider this card if you are buying these items frequently and not just from amazon.com. There is also a Citi Forward Card for College Student version. Citi's ThankYou reward points can also be exchanged for amazon.com gift cards.

Should you get the Amazon.com Visa Credit Card?

Verdict - The Amazon credit card is a great card for those who shop a lot at amazon.com and want to earn reward points for free stuff on future purchases. For the rest of us that shop at Amazon.com occasionally and where getting the card does not make sense, there are other cards that either allow you to either earn extra points on books, movies or music, and/or exchange points for amazon.com gift cards.