The Prime Visa’s hallmark feature is that it offers unlimited 5% cash back on Amazon purchases with an eligible Prime membership. So if you spend roughly $100 per month or $1,200 per year on Amazon, that’s $60 in annual cash back right there.
Prime Visa cardholders also earn 10% cash back or more on select rotating deals called Prime Card Bonuses. You can browse a list of the current bonuses, and expect a whole lot more to be revealed as Prime Day approaches.
But even if that expensive purchase you’ve been planning doesn’t qualify for Prime Card bonuses, 5% off can still mean big instant savings. On a $1,400 laptop, for example, 5% cash back from the Prime Visa would put $70 right back into your pocket—enough to cover half of your annual Prime membership cost of $14.99 per month or $139 per year in a single purchase.
Speaking of annual fees, the Prime Visa doesn’t have one. That means you don’t have to do the math every year to determine whether it’s worth paying another $95 (or $695) for 12 more months of benefits. You can simply apply for the Prime Visa, set it as your default payment method on Amazon and basically forget about it (just be sure to make on-time payments).
Generous as it is, 5% cash back on Amazon is just the start of this card’s benefits.