Chase’s Amazon.com Visa Card Just Got Better
Posted on June 29th, 2011
Chase isn’t merely trying to improve their reward credit cards; they are on a mission to offer the best rewards cards available. Based on what they’ve done with the Chase Sapphire and Chase Freedom cards, it is safe to say that they are succeeding.
Recent changes to the Amazon.com Visa Card provide a great example of how Chase is not only making credit card rewards better, but also more user friendly. As of June 23rd, current and future Amazon.com Visa cardholders can now use Shop with Points. Shop with Points provides consumers the opportunity to redeem points at checkout. This feature not only makes using reward points easier, but also removes one of the most frustrating elements of typical reward programs: minimum redemption amounts.
Unlike nearly all rewards cards, there is no minimum number of points required to make a redemption. Thus, a cardholder who has collected only 500 points doesn’t need to keep spending to gain access to the rewards they’ve earned; they can redeem those points for $5 off their next purchase, put the difference on their Amazon card and earn 3 points for every dollar they spend on the remaining balance. No other credit card offers such easy access to rewards.
While the introduction of Shop with Points makes redeeming rewards easier, this feature would be meaningless if the Amazon.com Visa didn’t already offer great rewards. But this is a Chase credit card and, like other Chase cards, it does.
Cardholder’s earn three points for every dollar spent at Amazon.com. As these points are worth one cent each, this can be viewed as an automatic 3% discount. Typically, most retail credit cards offer sub-par benefits when used elsewhere. This is not the case with the Amazon Visa card. Every dollar spent on gas, dining, office supply and drug store purchases earns a very respectable two points, while all other purchases earn 1 point.
Because cardholders can earn rewards on all spending, racking up Amazon reward points isn’t very difficult. For example, cardholders who spend $200 a month on gas can earn $48 worth of points in a year. Spending $200 on restaurants every month adds yet another $48 per year. $100 per month in spending on Amazon.com at three points per dollar brings in another $36, upping the rewards total from just three spending categories to a very respectable $132. This level of rewards should be easily attainable for many cardholders and is much higher than what can be earned with other no annual fee reward cards.
Ultimately, hardcore Amazon.com customers stand to reap the most benefits from this card, as 3% rewards add up quickly. Nevertheless, even casual Amazon.com users can benefit nicely from the 2% rewards categories and earn enough to keep their Kindles stocked year-round.
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