Amazon’s New Credit Card Gives Prime Members 5% Cash Back

July 22, 2015, Written By John H. Oldshue

Amazon has introduced a new credit card for its Prime members that gives cardholders an extremely lucrative reward.

The Amazon Prime Store Card gives Amazon Prime members 5% cash back on all Amazon purchases, not just purchases made on Prime. The 5% rewards come in the form of an automatic statement credit. For a limited time, newly approved cardholders will receive a $10 credit on their Amazon.com account.

The card was quietly introduced in March. Since it is a store card, it only works for Amazon purchases.

The card does not have an annual fee. It also offers six months of special financing on purchases of $149 or more, and 12 months on purchases of at least $599.

The huge drawback to the card is its interest rate. The card has a 25.99% variable APR, and the minimum interest charge is $1.50. So if you carry a balance on the card from one month to the next, you will pay a very steep financial penalty.

Amazon has made a significant push to increase the number of Amazon Prime members during the past year, and this card appears to fall in line with that strategy. Amazon Prime membership costs $99 annually and gives members free two-day shipping, Kindle rentals and streaming video.

The new Amazon Prime Store Card appears to compete directly with Target’s REDcard which gives cardholders 5% back on purchases at Target.

The new Amazon card is issued by Synchrony Bank.



The information contained within this article was accurate as of July 22, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About John H. Oldshue

John Oldshue is the creator of LowCards.com. He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for LowCards.com.
View all posts by John H. Oldshue