Prime Visa Credit Card Review [2024]: No Annual Fee, But There’s a Catch

CREDIT CARDS - CASH BACK CREDIT CARDS
Amazon customers earn big-time cashback rewards with the Prime Visa credit card, but is it worth the cost of an Amazon Prime Membership?
Updated April 9, 2024
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There are few retailers that can compete with Amazon today, and if the number of blue Prime vans that drive past my house daily is any indicator, the company continues to grow and expand. But Amazon doesn’t have to be the only one rewarded.

The Prime Visa offers extended rewards earning at Amazon.com and Whole Foods Market, along with valuable rewards in other spending categories. And although this card has a $0 annual fee, it does come with a cost you might not expect.

In this Prime Visa review, we’ll discuss who should get this card, what it offers, and whether it deserves a spot in your wallet.

Earn Easy Cash Back at Amazon.com

Prime Visa
4.9

Prime Visa

Current Offer

$100 Amazon gift card upon approval

Annual Fee

$0

Rewards Rate

5% cash back at Amazon.com, Whole Foods Market, and on Chase Travel purchases; 2% cash back at restaurants and gas stations, and on local transit and commuting; 1% cash back on all other purchases

Benefits and Drawbacks
Card Details

In this Prime Visa review:

Who should get the Prime Visa?

The Prime Visa is best for loyal Amazon customers. Cardmembers earn 5% cash back at Amazon.com, Whole Foods Market, and on Chase Travel purchases; 2% cash back at restaurants and gas stations, and on local transit and commuting; 1% cash back on all other purchases.

Although it doesn’t come with an annual fee, you need an Amazon Prime membership to qualify for this credit card. If you aren’t an Amazon Prime member, you’ll need to look at other rewards card options or sign up for a Prime membership. Of course, earning a higher rewards rate isn’t the only perk of Amazon Prime. A membership gives you access to free Prime delivery services, Amazon Video, and other free and discounted Amazon services.

Although it's one of the best credit cards for shopping on Amazon, it’s not for everyone. If you prefer to shop elsewhere or don’t make enough Amazon purchases to justify having the co-branded card, other cashback credit cards may offer better earning potential over time.

Some cash back credit cards also come with introductory APR offers for purchases and balance transfers. However, the Prime Visa is not one of those cards. Other credit cards are better suited for balance transfers and large purchases.

Card basics

Card type Cash back
Card issuer Chase
Annual fee $0
Intro bonus $100 Amazon gift card upon approval
Reward rate 5% cash back at Amazon.com, Whole Foods Market, and on Chase Travel purchases; 2% cash back at restaurants and gas stations, and on local transit and commuting; 1% cash back on all other purchases
Recommended credit score Excellent, Good
Intro APR N/A
Foreign transaction fee None

Prime Visa benefits and perks

  • Generous sign-up offer: You’ll automatically receive a $100 Amazon gift card upon approval for the Prime Visa, redeemable for millions of items on Amazon.com.
  • No annual fee: The Prime Visa has a $0 annual fee.
  • Lucrative rewards: With this card, you can earn 5% cash back at Amazon.com, Whole Foods Market, and on Chase Travel purchases; 2% cash back at restaurants and gas stations, and on local transit and commuting; 1% cash back on all other purchases. It’s rare to find a no annual fee credit card that offers such high rewards earning rates as this Amazon co-branded card.
  • No foreign transaction fees: Amazon purchases aren’t the only thing this card is good for. It’s also the perfect travel companion; cardholders pay no foreign transaction fees on international purchases.
  • Travel perks: Travel stress-free thanks to travel accident and baggage delay insurance, and lost luggage reimbursement offered through the Chase credit card.
  • Extended warranties: Extend the warranty period by a year on eligible purchases with the Prime Visa.

Drawbacks to the Prime Visa

  • Limited to Prime members: You must have an Amazon Prime account to qualify for the Prime Visa. An Amazon Prime membership costs $139 annually. A Student Prime membership is $69 per year. Before you apply, consider whether you’ll earn enough rewards to justify the Prime membership cost.
  • No intro APR: The Prime Visa comes with no introductory APR offer on balance transfers or purchases.

Earning and redeeming Amazon rewards

Potential earnings in years one and two

Here's a look at how your Amazon rewards can add up with the Prime Visa.

Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $495 in Amazon rewards

Year two earnings: $395 in Amazon rewards

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model, which takes a look at points earned via spending, the sign-up bonus, and the annual fee.

You could potentially get more value from this card if you do all your grocery shopping at Whole Foods. However, if you factor in the cost of a Prime Membership, year one and two earnings drop to $356 and $256, respectively.

Best ways to earn

If you spend a lot on Amazon purchases, you're in luck. That’s precisely where the Prime Visa shines. Cardmembers earn unlimited 5% back at Amazon.com, Whole Foods Market, and Chase Travel with an eligible Amazon Prime membership.

Of course, purchases at Amazon.com, Whole Foods Market, and Chase Travel aren’t the only ones that earn rewards with this credit card. You’ll also earn 2% back on purchases at restaurants, gas stations, local transit and commuting and 1% back on all other purchases. The earning potential is comparable with other no-fee rewards cards.

There are few items Amazon and Whole Foods don’t sell. Combined with earning in other popular categories, it's hard to think of a purchase that wouldn’t earn rewards with the Prime Visa.

Categories Rewards rate
Amazon.com, Whole Foods Market, and Chase Travel 5%
Restaurants, gas stations, local transit and commuting 2%
All other purchases 1%

Maximizing your redemptions

With this card, you earn rewards points redeemable toward eligible Amazon purchases. You can use points as with any other payment method on Amazon.com. Just choose your Prime Visa as your payment method and select how many points you want to use toward your purchase.

Using your points is an easy way to save money on Amazon purchases. Amazon rewards points are worth 1 cent apiece.

You can redeem rewards points outside of Amazon too. Other redemption options include:

  • Cash back (in the form of a statement credit or direct deposit)
  • Travel
  • Gift cards

Prime Visa card FAQs

Is Prime Visa credit card worth it?

If you’re a frequent Amazon and Whole Foods shopper with a Prime membership, there isn’t a better credit card for earning rewards for your purchases with the retail giant. Throw in rewards in popular spending categories, and you have a no-fee credit card that earns on just about every purchase imaginable.

What credit score do I need for the Prime Visa credit card?

You’ll likely need a good to excellent credit score to qualify for the Prime Visa. A good FICO credit score starts at 670. If your score is lower than 670, work to improve your credit score before applying, or consider a different rewards credit card.

Is Amazon Prime free with an Amazon credit card?

Unfortunately, no Amazon credit card comes with a free Amazon Prime membership. You’ll need to pay the $139 membership fee to gain access to the popular Amazon program. Student Prime memberships are $69. 

There’s also an option to pay a monthly fee of $14.99 for a regular membership or $7.49 for a Student membership.

What happens to my Prime Visa credit card if I cancel Prime?

Rewards earning rates drop considerably if you use your Prime Visa card after canceling Amazon Prime. Instead of earning 5% back on Amazon.com, Whole Foods Market, and Chase Travel purchases, you’ll earn only 3% cash back.

Does the Amazon credit card have an annual fee?

The Prime Visa card has a $0 annual fee, but does require an eligible Amazon Prime membership as a condition for card approval. An Amazon Prime membership currently costs $139 annually or $14.99 a month. Student Prime memberships are $69 annually or $7.49 a month.

Other cards to consider

If you don’t have an Amazon Prime membership, you can still earn rewards for Amazon and Whole Foods Market purchases with the Amazon Visa. It doesn’t offer the same rewards seen with the Prime Visa card, but you also don’t need to spend $139 on a Prime membership. It offers 3% cash back at Amazon.com, Whole Foods Market, and on Chase Travel purchases; 2% cash back at restaurants and gas stations, and on local transit and commuting; and 1% cash back on all other purchases. Plus, you’ll automatically earn a $50 amazon gift card upon approval of credit card application, and it has a $0 annual fee.

If you’d rather earn cash back at a flat rate for all purchases, opt for Citi Double Cash® Card.

You’ll earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases; plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24. There’s no need to track spending categories with Citi Double Cash, and it has a $0 annual fee. It’s simply one of the best cash back credit cards on the market today.

Earn Easy Cash Back at Amazon.com

Prime Visa
4.9

Prime Visa

Why We Like It

$100 Amazon gift card upon approval

See how these cards compare:

Amazon Visa
Amazon Visa
  • Earn a $50 Amazon gift card upon approval of credit card application
  • Earn 3% cash back at Amazon.com, Whole Foods Market, and Chase Travel
  • Earn 2% cash back on restaurants, gas stations, local transit and commuting
  • No annual fee
Citi Double Cash® Card
Citi Double Cash® Card
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases; plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24
  • 0% intro APR on balance transfers for 18 months, then 19.24% - 29.24% (Variable) APR
  • No annual fee
  • Rates and fees

Author Details

Kevin Payne Kevin Payne is a freelance writer specializing in student loans, credit cards, personal finance, and travel. He is a regular contributor to Club Thrifty, Millennial Money, and Student Loan Planner. As the budget and family travel expert behind FamilyMoneyAdventure.com, Kevin recently turned his writing side hustle into his full-time career. He lives in Cleveland, Ohio, with his wife and four kids.

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