Digital Transactions Authoritative, insightful and timely information for payments professionals
Amazon.com Inc. has beefed up the rewards for its Visa-branded cards issued by Chase, in response to cardholder’s desire for travel-related perks and the ability to earn more rewards for day-to-day expenses, such as commuting. Additionally, Amazon is allowing cardholders to redeem rewards daily and has rebranded its cards.
Prime Visa (formerly the Amazon Prime Rewards Visa Signature Card) and Amazon Visa (formerly the Amazon Rewards Visa Signature Card) cardmembers can now earn 5% back and 3% back, respectively, on purchases made through Chase Travel, Chase’s travel booking platform. In addition, cardholders can now earn 2% back on local transit and commuting, including rideshare.
To further enhance the value of both cards to consumers, Amazon has introduced daily rewards, a feature that allows cardholders to earn, view, and redeem rewards earned on their card daily, as opposed to monthly. Qualifying daily rewards will post Sunday through Thursday, based on the previous day’s spending. Cardmembers can redeem points for cash back, gift cards, travel at Chase.com, and toward orders on Amazon.com.
“The addition of travel-based earn opportunities on the cards and ability to now redeem rewards points earned on purchases as soon as the next day means we’re providing even more value to our cardmembers, faster,” William Mahoney, general manager of Amazon Visa cards at Chase, says in a statement.
In addition to the new rewards features, Prime Visa cardholders with a valid Prime membership will continue to earn 5% on purchases at Amazon.com and Whole Foods Markets, while Amazon Visa cardholders will earn 3%, on purchases with those merchants. Cardholders of either card will also continue to earn 2% on purchases at restaurants and gas stations and 1% back on all other purchases. Neither card charges an annual fee.
As part of its strategy to attract new cardholders and get them to start using either card for purchases immediately, new Prime Visa cardmembers will receive a $150 Amazon gift card and can earn 5% back on all purchases, up to $2,500, for three months. New Amazon Visa cardmembers will receive a $60 Amazon gift card and can earn 3% back on all purchases, up to $1,500, for three months after account opening.
