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Latest Amazon Prime perk is 5% awards back credit card

Amazon.com, Inc. has a new perk for its Prime customers -- a new 5% back rewards card.

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In addition to 5% back on all purchases made on Amazon.com, cardholders of the new Amazon Prime Rewards Visa Signature Card also get 2% back for spending on gasoline, restaurants and drugstores. Shoppers get 1% back on every other purchase.

Current Prime members with an existing Amazon Rewards Visa Signature card will be upgraded automatically to the new Prime metal card from Chase, as long as their Prime membership is eligible (criteria include having the card as your exclusive payment method in your Amazon wallet). And those customers will also begin earning 5% back now on their current card until the new one arrives.

"We are adding even more value to Prime by offering rewards on Amazon and everywhere else you shop," said Max Bardon, vice president at Amazon. "Prime members will enjoy 5% Back on Amazon.com, 2% Back at restaurants, gas stations and drugstores, and 1% Back on every other purchase – plus best in class benefits including no foreign transaction fees, travel protection and 24/7 concierge service."

The card has no annual fee and rewards don't expire. The annual percentage rate (and transfer rate) ranges between 14.74% and 22.74%, depending on your credit history. For more information on the new card, go to Amazon.com