Amazon credit cards offering up to $200 welcome bonus, 10% back on select products - CNBC

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Until Nov. 30, new and existing Amazon credit cardholders are in for an extra treat.

If you're interested in signing up for an Amazon credit card, you'll earn an increased welcome bonus of either a $100 or $200 Amazon gift card immediately upon approval. Additionally, both new and existing cardholders can take advantage of 10% back in rewards on eligible gift purchases.

Select highlights what you need to know about the offer, details about each Amazon credit card and which purchases qualify for 10% back in rewards.

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Amazon Cards' elevated welcome offer and bonus rewards

Amazon currently offers two unsecured rewards credit cards: the Amazon Prime Rewards Visa Signature Card and the Amazon Rewards Visa Signature Card.

The former option requires cardholders to have an Amazon Prime account, while the latter doesn't. However, each card offers benefits like cash back at Amazon and Whole Foods — among other perks.

Through Nov. 30, new card applicants will receive the following welcome bonuses immediately upon approval with no minimum spending requirement:

Amazon Prime Rewards Visa Signature Card

Information about the Amazon Prime Rewards Visa Signature Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

Rewards

5% cash back at Amazon.com and Whole Foods Market; 2% back at restaurants, gas stations and drugstores; 1% back on all other purchases
Welcome bonus

$200 Amazon.com gift card upon approval
Annual fee

$0 (but Prime membership is required)
Intro APR
Regular APR

14.24% to 22.24% variable
Balance transfer fee

5%, $5 minimum
Foreign transaction fee
Credit needed

Excellent/Good

Pros

No annual fee
$150 Amazon.com gift card upon approval, with no spending requirements
5% back at Amazon.com and Whole Foods Market
No fee charged on purchases made outside the U.S.

Cons

Prime membership is required
The 5% back on groceries only applies to groceries bought on Amazon.com or at Whole Foods Market

Estimated rewards earned after 1 year: $590
Estimated rewards earned after 5 years: $2,352

Rewards totals incorporate the points earned from the welcome bonus

Amazon Rewards Visa Signature Card

Information about the Amazon Rewards Visa Signature Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

Rewards

3% cash back at Amazon.com and Whole Foods Market; 2% back at restaurants, gas stations and drugstores; 1% back on all other purchases
Welcome bonus

$100 Amazon.com gift card upon approval
Annual fee
Intro APR
Regular APR

14.24% to 22.24% variable
Balance transfer fee

5%, $5 minimum
Foreign transaction fee
Credit needed

Excellent/Good

Pros

No annual fee
No Prime membership required
$50 Amazon gift card upon approval, with no spending requirements
3% back at Amazon and Whole Foods Market
No fee charged on purchases made outside the U.S.

Cons

The 3% back on groceries only applies to groceries bought on Amazon or at Whole Foods Market

Estimated rewards earned after 1 year: $399
Estimated rewards earned after 5 years: $1,835

Rewards totals incorporate the points earned from the welcome bonus

In addition, cardholders can take advantage of 10% back when purchasing items from a variety of categories, including: toys, smart home devices, computers, home, kitchen, TVs, office products, and more. For example you can get 10% back on Select Beats headphones, Kindle e-readers, cameras and more. You can find all eligible products here and you'll have to make your purchases by Nov. 30 to earn the increased rewards.

Other great credit cards to earn rewards on Amazon purchases

Capital One Venture X Rewards Credit Card

Rewards

Unlimited 2X miles on all eligible purchases and, when booking via Capital One Travel, 5X miles on flights and 10X miles on hotels and rental cars
Welcome bonus

100,000 bonus miles after spending $10,000 on purchases within the first six months of account opening
Annual fee
Intro APR
Regular APR

16.99-23.99% variable APR
Balance transfer fee

Either $10 or 4% of the amount of each transaction, whichever is greater.
Foreign transaction fees
Credit needed

Excellent/Good

Terms apply.

The Platinum Card® from American Express

On the American Express secure site

Rewards

Earn 10X points on eligible purchases on the card at restaurants worldwide and when you shop small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of card membership, 5X points on flights booked directly with airlines or with American Express Travel (starting January 1, 2021, this applies on up to $500,000 per calendar year), 5X points on prepaid hotels booked with American Express Travel, 1X points on all other purchases
Welcome bonus

100,000 Membership Rewards® points after spending $6,000 within 6 months of account opening
Annual fee
Intro APR
Regular APR

See Pay Over Time APR
Balance transfer fee
Foreign transaction fee
Credit Needed

Excellent/Good

Wells Fargo Reflect℠ Card

On Wells Fargo's secure site

Rewards
Welcome bonus
Annual fee
Intro APR

Introductory 0% APR on purchases and qualifying balance transfers for the first 18 months from account opening; extension of up to 3 months (totally 21 months) with on-time minimum payments during the intro and extension periods
Regular APR

12.99% to 24.99% variable APR on purchases and balance transfers
Balance transfer fee

Introductory fee of 3% ($5 minimum) for 120 days from account opening, then up to 5% ($5 minimum)
Foreign transaction fee
Credit needed

Excellent/Good

Citi® Double Cash Card

On Citi's secure site

Rewards

2% cash back: 1% on all eligible purchases and an additional 1% after you pay your credit card bill
Welcome bonus

No current offer
Annual fee
Intro APR

0% for the first 18 months on balance transfers; N/A for purchases
Regular APR

13.99% - 23.99% variable on purchases and balance transfers
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
Credit needed

Good/Excellent

Terms apply.

Bottom line

Amazon provides flexibility for holiday shopping as you can avoid long lines, and possibly limited inventory, compared to shopping in-person.

However, before you start picking up gifts, it's important to have a budget as you don't want to start the new year in credit card debt. There are plenty of resources to help, including budgeting apps, which help find an appropriate amount to spend on loved ones.

Once you set your spending limit, be sure to find and use the best credit card for your needs. Whether it's a rewards card, 0% intro APR card or cash-back card, spending on the right card can make a large difference in your personal finances.

By following those two steps you can shop guilt-free and know you're earning rewards that benefit you.

Catch up on Select's in-depth coverage of personal finance, tech and tools, wellness and more, and follow us on Facebook, Instagram and Twitter to stay up to date.

For rates and fees of the Platinum Card from American Express, click here.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

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