Amazon’s Prime Visa credit card has always given Prime members 3% cashback for purchases made on Amazon.com, but it has never been as good as the Amazon Prime Store Card which gives 5% cashback. That finally changes because Amazon has just increased the cashback reward of their Prime Visa credit card to 5%. This means you’ll earn virtually the same reward whether you use the credit card or the store card. The key difference is the credit card earns you reward points, which you then use during checkout on Amazon to pay for orders, while the store card automatically applies the reward as a statement credit each month. The credit card can also be used outside of Amazon, where it earns 2% cashback at restaurants, gas stations, and drugstores, plus 1% cashback everywhere else. The credit card also has the advantage of being used for Prime Now orders, whereas the store card cannot.
If you’re not a Prime member, the Amazon Visa credit card will still earn you 3% cashback on Amazon.com. Those of you who already have the credit card will automatically be upgraded to the new 5% cashback program, assuming you’re a Prime member. The card still comes with no annual fee, no reward caps, no foreign transaction fees, and several other perks.