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Overview Of The Amazon.com Rewards Visa Card

By Harvey Serrano on August 25, 2010

You don't need to be a regular shopper at Amazon to benefit from the rewards point program on their visa card, but if you are it is the quickest way to stack up the points. The Amazon. Com rewards visa card is issued by Chase bank and can be used anywhere that the visa logo is displayed to earn redeemable points.

The card can be applied for on line at Amazon and US residents get an immediate $30 gift voucher instantly upon approval, which should be in minutes. As with any reward program card, the card conditions far outweigh the importance of the rewards, and the Amazon visa is a pretty standard visa card.

There is no annual fee to pay, the APR is variable at a current level of $13.24, with a penalty APR of 29.99%. The penalty fees themselves are $15 for balances under $100, $29 under $250, and $39 over $250. Returned payments are a standard $39. There are no hidden fees or clauses to consider, and if you set up an automated payment then there should never be a need to incur either interest or penalty charges, effectively making it a free card to use.

The Amazon. Com rewards visa will earn you points when you use it at visa merchants, and the points can be redeemed when you have 2500. You can also get $50 cash back when you accumulate 5000 points. The card offers extra points for certain spending which can make it more attractive to consumers. Purchases at Amazon earn 3 points per $1, and you can earn 2 points for every $1 spent at gas stations, restaurants and drugstores which are visa merchants. For all other general expenditure through visa merchants you earn 1 point per $1 spent. There are no points given on any money transactions.

In the UK the Amazon card is MasterCard, and the reward points are not as generous. £15 will be credited to the card account when £50 is spent at Amazon within 60 days of opening it, and 1 point can be earned through purchases at Amazon and 2 points on purchases elsewhere which display the MasterCard logo. The interest rates are also higher.

The US card makes it worth having for the initial gift card alone, if you shop at Amazon regularly, but you should weigh up if the points are worth it to you. Effectively you would need to spend $833 at Amazon as the quickest way of earning redeemable rewards which start at 2500 points, or $1250 on gas purchases. It is easy to calculate how this kind of reward stacks up against other reward point available on other cards, and if you would benefit.

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Original article published on SooperArticles.com

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