Amazon's Prime Day 2023 sale is happening this week on July 11th and 12th.
The 48-hour event will have thousands of products discounted exclusively for Amazon Prime members, giving consumers the chance to get a head start on their upcoming holiday shopping. But how can you save even more on your purchases?
CNBC Select details a few simple ways to ensure you're getting the lowest price possible on your purchases.
1. Use the right credit card
There are a number of credit cards that can help you earn bonus rewards on Amazon purchases. Some cards also offer other perks like extended warranties and 0% intro APR periods. Just ensure that your purchases are also aligned with your budget as any rewards you earn from any credit card will be negated if you need to pay late fees or high interest rate charges.
If you plan on taking advantage of this week's sale, consider applying for one of these top credit cards for shopping on Amazon:
Prime Visa
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 products and categories at Amazon.com, unlimited 1% back on all other purchases
Welcome bonus
Get a $100 Amazon Gift Card (or more) instantly upon approval exclusively for Prime members
Annual fee
$0 (but Prime membership is required)
Intro APR
None
Regular APR
19.49% - 27.49% variable
Balance transfer fee
Either $5 or 4% of the amount of each transfer, whichever is greater.
Foreign transaction fee
None
Credit needed
Excellent/Good
Terms apply.
Information about the Prime Visa has been collected independently by Select and have not been reviewed or provided by the issuer prior to publication; if you purchase something through Select links, we may earn a commission.
Prime Store Card
Rewards
5% back on Amazon.com
Welcome bonus
$80 Amazon gift card instantly upon approval
Annual fee
$0
Intro APR
Pay no interest on all Amazon purchases of $150 or more if the entire purchase amount is paid in full within 6, 12 or 24 months
Regular APR
29.99% variable
Balance transfer fee
Not applicable
Foreign transaction fee
Not applicable
Terms apply.
Pros
- No annual fee
- High 5% back at Amazon.com
- 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
- The 5% back only applies to Amazon.com purchases
- This card can only be used at Amazon
Citi Double Cash® Card
Rewards
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24
Welcome bonus
Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Annual fee
$0
Intro APR
0% for the first 18 months on balance transfers; N/A for purchases
Regular APR
19.24% - 29.24% variable
Balance transfer fee
For balance transfers completed within 4 months of account opening, an intro balance transfer fee of 3% of each transfer ($5 minimum) applies; after that, a balance transfer fee of 5% of each transfer ($5 minimum) applies
Foreign transaction fee
3%
Credit needed
Fair/Good/Excellent
See rates and fees, terms apply.
Read our Citi Double Cash® Card review.
Pros
- 2% cash back on all eligible purchases
- Simple cash-back program that doesn't require activation or spending caps
- One of the longest intro periods for balance transfers at 18 months
Cons
- 3% fee charged on purchases made outside the U.S.
- Estimated rewards earned after 1 year: $443
- Estimated rewards earned after 5 years: $2,213
2. Use your credit card rewards
Several credit card rewards programs offer the ability to redeem your rewards for Amazon purchases. So if you've been earning credit card rewards, consider looking into your rewards program to see if you can redeem them for your upcoming Amazon order. For example, several American Express cards like the Platinum Card® from American Express earn Membership Rewards® Points which can be redeemed directly with the online retailer. Terms apply.
Note that redeeming credit card rewards for Amazon purchases typically isn't the best value. For example, Membership Rewards points are worth around $0.007 when you redeem them on Amazon.com, but can be worth a cent or more when redeemed for travel or gift cards.
However, there are frequent promotions where you can score discounts for redeeming points. For example, targeted American Express cardholders have been able to save up to 50% on Amazon (up to $80) by redeeming Membership Reward points. Similar promotions have also been offered to targeted Chase, Capital One, Citi and Discover cardholders.
Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™.
3. Price match to other stores
If you wish to buy a product from another retailer — for example, if you don't have a Prime membership — you can use this Amazon sale to your advantage.
Several big-box retailers such as Office Depot, Joann's, BuyBuyBaby.com, JCPenney's, Staples and more will honor prices available on Amazon.
However, each store has its own terms as to what they will and will not honor, so it's advised to call ahead or check online to verify how each retailer's policy works. For example, Target will not match Amazon's lightning deals.
4. Get Amazon Prime for free
This week's Prime event is only for Prime members. However, you don't need to be left out if you don't currently pay for an Amazon Prime membership.
You can get Amazon Prime for free for 30 days by signing up here. Alternatively, thanks to Amazon Household, you can share the Prime membership access that your friend or family member already pays for to get access to the sale.
5. Check for invite-only deals
For the first time, Amazon is offering some of its most significant discounts on an invite-only basis. Ahead of the sale, Amazon Prime members can pre-register for certain Prime Day deals to get a better shot of buying them before they sell out.
Keep in mind that quantities are limited so requesting an invitation does not guarantee that you'll be able to buy the item at the deal price.
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Bottom line
Amazon Prime continues to deliver solid value to members and gives even more savings to members through Amazon Prime Day.
However, before sales tempt you to spend more money, be sure that you're making efficient purchases that don't exceed your spending capabilities.
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Information about the Prime Visa Card has been collected independently by Select and has not been reviewed or provided by the issuer prior to publication; if you purchase something through Select links, we may earn a commission.
