Details from the Announcement
On February 20, Amazon and Whole Foods Market announced that Amazon Prime Rewards Visa cardmembers would earn 5% back on Whole Foods purchases.
These rewards are in addition to:
- 5% back on all Amazon.com purchases.
- 2% back at restaurants, gas stations and drugstores.
- 1% back on all other purchases.
Amazon Rewards Visa cardmembers who are not Prime members will now earn:
- 3% back on Whole Foods purchases when using the card, in addition to:
- 3% back on all Amazon.com purchases.
- 2% back at restaurants, gas stations and drugstores.
- 1% back on all other purchases.
Other benefits of the card include:
- No cap on rewards earned.
- Rewards never expire and are redeemable, as long as the cardmember’s account is open, on hundreds of millions of products on Amazon.com.
- No foreign transaction fees when traveling abroad or for cross-border shopping.
- No annual credit card fee.
- Zero fraud liability.
- Travel and purchase protections, as well as 24/7 concierge service, through Visa Signature.
In addition, Amazon is offering a $70 Amazon gift card upon approval for the Amazon Prime Rewards Visa card. The card’s annual percentage rate (APR) varies between 15.49% and 23.49%; interest rates for other department-store cards can exceed 23%.
Our Take
The new offer represents yet another benefit to encourage consumers to become Prime members and also serves as an effective cross-marketing tool between Amazon and Whole Foods.
