The new card, Amazon Prime Rewards Visa Signature Card with Chase Bank, is the next generation of the Amazon Rewards Visa Signature card that gives members 3 percent back on all Amazon purchases. In addition to cash back at Amazon, the new Prime card includes no foreign transaction fees, 2 percent back at restaurants, gas stations and drugstores and 1 percent back on all other purchases
“We are adding even more value to Prime by offering rewards on Amazon and everywhere else you shop,” said Max Bardon, Amazon vice president, said in a statement.
Amazon CEO Jeff Bezos said last year the company’s goal is to make Prime benefits so numerous and valuable that it’s irresponsible not to be a member. In addition to free two-day shipping for $99 annually or $10.99 a month, Prime members get a myriad of benefits, including: vast video and music libraries, audio programming and Prime Now same-day shipping.
This push seems to be working. In October, Consumer Intelligence Research Partners released a study estimating that Amazon has 65 million Prime members in the U.S. Prime members make up 52 percent of Amazon’s customer base and spend twice as much as non-Prime Amazon shoppers, approximately $1,200 annually versus $600, according to the study.