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Amazon Prime Day is here, which means it's an excellent time to consider signing up for an Amazon credit card. This way, you can take your savings even further during the annual shopping event, which runs from July 11-12, 2023.
For a limited time, if you open a new Amazon Prime Rewards Visa Signature Card, you can instantly earn a $200 Amazon gift card.
Unfortunately, the Amazon Rewards Visa Signature Card appears to have been excluded from this promotion. However, if you have Prime membership (as the majority of U.S. households do) the Amazon Prime Rewards Visa card is better in pretty much every way, so there's little reason to consider the more entry-level card.
Here's a look at how to cash in on this offer.
How to Earn the $200 Gift Card
As of Thursday, July 27, you can earn a $200 Amazon gift card when you're approved for an Amazon Prime Visa Card. While this isn't the most valuable promotion we've seen for this card, it's pretty amazing to see a bonus offer you can earn just for being approved. To earn a similar bonus with a competing card, you'd typically need to spend several hundred dollars.
Previously, this card offered new cardholders the chance to earn up to $275 in bonuses, but doing so required a lot more legwork. With that promotion, you received a $150 gift card upon approval, then had the opportunity to earn up to $125 in cash back thanks to an accelerated rewards rate that was applied to all purchases for three months.
While it's a little disappointing that this $200 promotion does not include any sort of elevated rewards rate, customers may value the one-and-done simplicity of this new offer. Plus, the card still earns 5% back on Amazon purchases, so with Prime Day coming up, you have a great opportunity to stack some cash back rewards.
Bottom Line
If you're a regular Amazon shopper, you'd do well to hold one of Amazon's credit cards. Few other cards will reward you with 5% back on Amazon purchases like the Prime Visa Card does, and it's rare to see a credit card offer a bonus immediately upon approval.
While Prime Day deals are historically hit or miss, you can increase the value of pretty much any deal you find during the event by purchasing it with an Amazon credit card.
Louie Patterson
Louie Patterson is a Finance Content Manager who specializes in banking topics such as account bonuses and CDs. With over seven years of professional editorial experience, their work has appeared in several publications, including USA Today and Consumer Affairs.
