Amazon launches a credit card for Prime members

  • Amazon to release Amazon Prime Rewards Visa Signature Card in partnership with Chase.
  • The new Visa credit card will be exclusively for its most loyal customers, Prime members.
  • Prime member cardholders will get 5 percent back on all Amazon purchases, 2 percent back at restaurants, gas stations and drugstores, and 1 percent back everywhere else.
  • Amazon already offers one regular credit card Amazon Rewards Visa Signature Card not exclusive to Prime members.
  • It is the first one Amazon has targeted Prime members in particular.
  • Prime members with a regular credit card will be upgraded to the new Prime card, offering 3 percent cash back on Amazon purchases.
  • No foreign transaction fees or annual credit card fee will be charged.
  • The tech giant keepsincreasing its offerings for Prime members because they buy & spend more on Amazon as compared to customers without Prime.