SEATTLE—Credit unions and other card issuers have even more to be worried about when it comes to competing with Amazon’s offers, as the company has rebranded its credit cards and upgraded benefits, according to a new report.
The Amazon Prime Rewards Visa Signature Card and Amazon Rewards Visa Signature Card are now Prime Visa and Amazon Visa, respectively.
The new Prime Visa has a fresh, new design and offers higher cash back on purchases and trips planned through Chase Travel, along with improved cash back on other purchases, according to CNBC.
Prime Visa’s cash-back rates include:
- 5% back at Amazon and Whole Foods Market
- 5% back on purchases made through Chase Travel (new)
- 2% back on local transit and commuting, including rideshare (new)
- 2% back at restaurants
- 2% back at gas stations
- 1% back on all other purchases
In addition, for a limited time, new Prime Visa cardholders will get a $150 Amazon gift card as a welcome bonus and earn 5% back on everything (up to $2,500 in purchases) for the first three months, CNBC noted.
The card will continue to offer the same benefits, including baggage delay insurance and purchase protection. Additionally, the card continues to have no annual fee with a Prime membership.
For Non-Prime Members
The new Amazon Signature Card for non-Prime members also has a new design as well as two new reward categories.
Amazon Visa’s earning structure:
- 3% back at Amazon and Whole Foods Market
- 2% back on purchases made through Chase Travel (new)
- 2% back on local transit and commuting, including rideshare (new)
- 2% back at restaurants and gas stations
- 1% back on all other purchases
For a limited time, new cardholders can get a $60 gift card upon approval and earn 3% back on up to $1,500 in purchases for the first three months with the card, CNBC said.
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