This is the best credit card to use on Amazon Prime day

Amazon Prime Day 2020

Amazon Prime Day 2020


When Amazon Prime Day kicks off next week, online shopping pros will be ready to separate the good deals from the bad — and earn cash back on every purchase. While there are a few really good cash back credit cards on the market, the Amazon Prime Rewards Visa Signature Card is hard to beat for Prime Day shopping. The 5% cash back on all Amazon (and Whole Foods) purchases makes it one of the best cash back credit cards on any day, and a must-have for anyone who regularly shops at either store. And the company will drop a $100 gift card in your Amazon account the moment you’re approved.  

That noted, though it’s tough to beat on Amazon purchases, the card’s cash back rates for non-Amazon purchases are less impressive: you get only 2% back at restaurants, gas stations and drug stores and 1% back on all other purchases. If you’re not a frequent Amazon shopper, you may be better off with the Citi Double Cash Card, which offers 2% cash back on every purchase. And if groceries are your primary focus, the Blue Cash Preferred from American Express offers a whopping 6% back on groceries at US supermarkets (including Whole Foods) up to $6,000 per year. 

Still, the Amazon Prime rewards has no annual fee and the eligibility requirements aren’t particularly stringent: applicants with a “fair” credit score (approximately 580 or higher) stand a pretty good chance of being approved.

Read more: 6 ways to win Prime Day

Amazon also offers a slimmed-down version of its Rewards Visa for people who are not Prime members, but the Amazon and Whole Foods cash back rate is only 3% and signup incentive is lower: a $50 Amazon gift card. But if you’re looking to maximize your Amazon cash-back potential, you’re probably better off becoming an Amazon Prime member first — which costs $119 per year — and then applying for the full-featured Prime version of the card. In effect, the Prime card’s $100 signup bonus just about covers your first year of Prime membership, which features many worthwhile benefits

Once you have the Amazon Prime Rewards Visa Signature Card, you can redeem your rewards points when checking out at Amazon or as a statement credit, starting at 2,000 points — which is equivalent to $20. Check out all of the rewards and redemption details here.

Read more: How to make sure that Prime Day deal is really a deal

Amazon Prime Day 2020 starts Tuesday, Oct. 13 and runs through Wednesday, Oct. 14, and some Prime Day deals are already available.