If you’re an Amazon Prime member and shop at Whole Foods, the Amazon Prime Rewards Visa Signature Card has a new welcome offer that could save you some cash on your next big grocery trip.
Until March 3, 2021, new Amazon Prime Rewards Visa Signature Card members can earn a $100 statement credit after spending $100 or more at physical Whole Foods Market stores (not online) within the first two months of account opening. To qualify for the offer, you must have an Amazon Prime Membership and can’t currently have the same card (or an Amazon Rewards Visa Signature card) open.
As with the standard version for the Amazon Prime Rewards Visa Signature Card , cardholders will earn:
- 5% cash back at Amazon and Whole Foods (3% without an Amazon Prime Membership)
- 2% cash back at restaurants, gas stations, and drugstores
- 1% cash back on all other purchases
New cardholders will also have the option to select a Whole Foods-themed card design when they apply — and existing Amazon Prime Rewards Visa Signature Card holders can request a replacement card with the new design starting January 22.
There’s no annual fee as long as you have an Amazon Prime membership, and the card doesn’t add foreign transaction fees.
Is the new Chase Amazon Prime Rewards card offer worth considering?
The Amazon Prime Rewards Visa Signature Card is one of the best cards for Amazon purchases, especially if you’re a Prime member and spend a lot at Amazon and Whole Foods.
This limited-time offer is a better deal than the standard intro bonus, which comes with a $70 Amazon gift card instantly upon approval (that offer is still available) — although the Whole Foods offer does have a modest minimum spending requirement.
However, unless you do the bulk of your shopping at Amazon and Whole Foods, you’ll likely do better with a cash-back credit card that earns bonus rewards in a wider variety of categories or a flat rate on all purchases.
The cards below also have no annual fee (and don’t require a pricey Amazon Prime membership), and some even come with a bigger welcome bonus:
- Citi® Double Cash Card: Earn 2% cash back on all eligible spending (1% back when you make a purchase, and 1% when you pay it off).
- Chase Freedom Flex℠: Earn a $200 after spending $500 on purchases in the first three months from account opening, 5% cash back on travel booked through Chase Ultimate Rewards, 3% back on dining and drugstores, and 1% back on everything else. The Chase Freedom Flex℠ (and old Chase Freedom® , which isn’t available to new applicants) earns 5% back on up to $1,500 spent on combined purchases in categories that rotate every quarter (then 1%) when you activate — and Amazon is sometimes included.
- Blue Cash Everyday® Card from American Express: Earn $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months. You’ll earn 3% cash back at U.S. supermarkets on up to $6,000 each calendar year (then 1%), 2% back at U.S. gas stations, and 1% cash back on everything else.
- Discover it® Cash Back: Earn 5% back in categories that rotate every quarter on up to $1,500 in combined spending (then 1%) when you activate — Amazon is also sometimes included (for example, from October through December 2021) — and 1% back on all other purchases (from January 1 to March 31, 2022, you can earn 5% cash back at Grocery Stores (excluding Walmart and Target) and Fitness Club & Gym Memberships on up to $1,500 in purchases after enrollment, then 1%).
Here’s another caveat if you’re thinking of applying: Like other Chase cards, the 5/24 rule applies to the Amazon Prime Rewards Visa Signature Card — meaning if you’ve opened five or more credit cards (from any bank) in the past 24 months, you won’t be approved.
If you open the card, it will also count toward your 5/24 status. This won’t matter if you don’t open a lot of new accounts or aren’t interested in other Chase cards — but if you are, there are Chase credit card offers with better welcome bonuses and perks that you should look at before you commit.
Jasmin Baron is an associate editor at Personal Finance Insider, where she helps readers maximize rewards and find the best credit cards to fit their lifestyles.