The Prime Visa is a no-annual-fee card available to consumers who already have an Amazon Prime membership, which currently costs $139 annually or $14.99 per month.
New cardholders can take advantage of its automatic Amazon Gift Card welcome bonus, which can help offset the cost for your first year, and earn 5% cash back on spending at Amazon.com.
Below, CNBC Select explains what credit score you'll need to qualify for the Prime Visa and highlights another Amazon credit card that can help you earn rewards on purchases with the online retailer.
The Prime Visa is only available to Amazon Prime members ($139 for an annual membership and $14.99 for a monthly membership) but is very rewarding for Amazon purchases.
- High rate of return at Amazon.com, Whole Foods Market and on Chase Travel purchases
- Offers an automatic gift card welcome bonus after card approval
- Option to earn rewards or take advantage of 0% promo APRs
- Includes a wealth of travel insurance protections
- Requires an Amazon Prime membership for approval
- If you choose the promo APR, you won't earn rewards on those purchases
- Rewards can't be pooled with other Chase credit cards
Rewards
- Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership
- Unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare)
- 10% back or more on a rotating selection of items and categories on Amazon.com with an eligible Prime membership
- Unlimited 1% back on all other purchases
Balance transfer fee
Either $5 or 4% of the amount of each transfer, whichever is greater
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What credit score do you need for the Prime Visa?
Keep in mind that while your credit score is one of the most important factors in card approval, it is not the only thing taken into consideration. Generally, credit card issuers will look at your credit score, income, recent credit applications and credit history when approving you for a new card.
For the Prime Visa, you'll likely need a good credit score (or a FICO Score of 670 and above) to qualify. Having a good credit score does not necessarily guarantee you'll be approved, but the higher it is, the more it improves your chances.
FICO score factors
Issuers typically consider your FICO 8 score, one of the most widely used scoring models, which ranges from 300 to 850. Higher scores indicate a greater level of creditworthiness or the likelihood that a cardholder will be able to pay their bill on time and in full. Here's a look at the factors that make up your score:
- Payment history (35%: If you've made your previous payments on time
- Amounts owed (30%): Your credit utilization ratio, or the ratio of the amount of credit you're using to the amount that's been extended and owed on your accounts
- Length of credit history (15%): The amount of time you've had credit
- New credit (10%): How often you open new accounts
- Credit mix (10%): Whether you have different types of credit, such as installment loans or revolving lines of credit
What benefits come with the Prime Visa?
Cardholders earn an unlimited 5% cash back at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel℠ purchases, provided you have an eligible Prime membership.
It also earns 2% back at gas stations, restaurants and on local transit and commuting, including rideshare. For those looking for the deepest discounts, Prime cardmembers can earn 10% or more on a rotating selection of items and categories. These reward rates make it one of the best credit cards to use when shopping at Amazon.
In terms of benefits beyond rewards, the Prime Visa offers a substantial amount of travel benefits, from baggage delay insurance to auto rental coverage. While it still might offer fewer than some other travel-specific cards, it still poses as a good option.
Don't qualify? Consider the Prime Store Card
If you don't quite have a high enough credit score for the Prime Visa, you may have an easier time qualifying for the Amazon Prime Store Card. It's available to those with a Prime membership and, as a store card, can only be used at Amazon-owned stores.
You'll earn the same 5% cash back on Amazon.com and Whole Foods Market purchases for no annual fee, and it comes with an Amazon Gift Card instantly upon approval.
Prime Store Card
Rewards
5% back on Amazon.com and Whole Foods Market (In-Store Code required) with an eligible Prime membership
Welcome bonus
$80 Amazon gift card instantly upon approval
Annual fee
$0
Intro APR
Pay equal monthly payments on Amazon.com purchases, at 0% APR, over the financing offer period. 6 equal monthly payments on purchases between $50 and $599.99; 12 equal monthly payments on purchases of $600 or more; 24 equal monthly payments on select purchases
Regular APR
29.99% variable
Balance transfer fee
Not applicable
Foreign transaction fee
Not applicable
Terms apply. We may earn commissions from qualifying purchases made through Amazon links.
Pros
- No annual fee
- High 5% back at Amazon.com and Whole Foods
- Various promotional financing offers
Cons
- Deferred interest means you have to pay all interest you incurred during the intro period if you don’t pay your balance in full before it ends
- Prime membership is required
- This card can only be used at Amazon stores
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