Protip: if you have the card already and are a prime member, you can upgrade your rewards within your Amazon account: http://amazon.com/wallet?ref_=ya... (select your card, and click "upgrade" or similar)
@tarungangwani looks like mine was automatically updated from Amazon Rewards to Amazon Prime Rewards. Well done.
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@ggnall@tarungangwani same! I also noticed that my girlfriend's non-Prime rewards card is eligible to upgrade, BUT you can only have one 5% card attached to each Prime account.
@_jacksmith Yes, hearing that as well from folks. Nice, user-centered thing for them to do.
Prime has to go down as one of the most important services ever created on the internet.
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I'm curious if the 5% back also applies to AWS bills? In the offer details it says "buying products and services with your card, in most cases, will count as a purchase." If so, this would be a nice way to save 5% on monthly infrastructure costs.
@ckalima I've had the card for years now, and my $0.55 monthly AWS bills (not a big personal AWS user) have gotten the 3x treatment. It's probably safe to assume it'll start getting 5x now.
Just saw this on Yahoo Finance. Considering most of my online shopping is on Amazon, 5% is a pretty slick deal.
This is also another example of Amazon moving further across and up the commerce funnel.
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@rrhoover it's a great card, I've had it for about a year at 3% and now 5% is a huge win. Earnings post to your Amazon account seamlessly and you can apply them at checkout like a payment method.
The Amazon store card has been giving 5% back as a statement credit for a while. I get that this has more rewards elsewhere, but it doesn't seem new to me.
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@tomjohndesign It's not revolutionary but there's some added convenience to being able to use the amazon visa card where the same, single card can be used widely outside of amazon.com and get 5% back for purchases on amazon.com. The amazon store card has limited use outside of amazon.com.
@tomjohndesign I'm surprised more people didn't know about the 5% "store card" version, I've had that for years and getting 5% back on all Amazon purchases for the last 4 years. Getting another Visa card that has lower rewards that other cards based on category points doesn't make sense for me, but the 3-5% bump will probably net them more customers long term, even if for most customers it won't be truly beneficial as a Visa card.
I've used the Amazon Prime Rewards Card for a few years now - love it. Every few months it's nice use the accumulated points for free Amazon purchases 😊
And the new one is 5% instead of the 3%, plus it's metal 😮
@nivo0o0 why the fuck is it made of metal when it's only usable online on Amazon.com ? what a waste of money lol. the physical card is useless once you add it to your amazon.com account
I just recently opened the "Amazon Store Card" to get 5% rather than the Chase card's 3% -- now I don't know which is better??? Any guidance?
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@garettpress It really depends on what cards you have in your wallet, your purchasing habits and your credit. You've already taken an inquiry to your credit report to get the Amazon Store Card, so unless one of the other benefits (besides the $70 signup bonus, bundled with most VISA Signature cards) are attractive to you it wouldn't make sense to apply for this one as well.
@garettpress I have the store card and this prime card. both offer 5% cashback. no reason to apply for both. frankly the store card is actually better for my usecase, as they don't report any balance to the credit reporting agencies, so your usage wont affect your credit score
Ah, very interesting. Amazon is taking a page from the Starbucks playbook. Only a matter of time until they forgo Visa and go become a payments system. From what I hear, at Starbucks >50% of transitions happen through their mobile app and prepaid cards, which means those transactions never hit the banks, making Starbucks a financial system of sorts. This saves customers time and it saves Starbucks a huge # of fees. Same could happen for Amazon. Perhaps they've already negotiated a great deal with Visa and that's how they are able to give 5% back, by saving a ton in the process. Interesting...
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@kirillzubovsky This card (Amazon Prime Rewards) is issued by Chase and can be used anywhere as a normal VISA card. The 5% isn't that uncommon as many card issuers have cards that have quarterly cash back at that rate, with Amazon transactions being one of the common quarterly categories; it's the unlimited nature of it that is exciting as usually they cap it at $1,500 in purchases.
The Amazon Store Card that can only be used on Amazon is issued by Synchrony Bank.
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@kirillzubovsky People still have to reload a Starbucks card through a credit or debit card. The main advantage for Starbucks is that it helps the lines go faster and they get to keep all of the extra money from people not using the full amount on the card.
@askdaylen from what I understand it's often the case that credit card companies charge flat fee + transaction fee for each thing you buy, and they charge that from the seller. So every time you swipe your card, they charge 10 cents + 0.1% of the transaction, for example. although transaction %s will stay the same, if you were to buy 10 lattes from Starbucks for instance, that's a whole dollar "saved" and deposited into Starbucks accounts.
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