The internet has transformed the way many of us shop and stock our homes with food and other supplies (just ask any brick-and-mortar small business owner). Where we once drove from store to store or even town to town to pick up essentials for daily living, we can now order what we need online at any time of the day or night, while sitting in bed, and with the click of a mouse.
Obviously, the impact of Amazon.com over the past two decades can’t be understated: It’s been nothing short of transformative. Thanks to features like Amazon Prime, which offers members free two-day shipping on everything, and “Subscribe and Save,” American appetites for online shopping have expanded far beyond books and hard-to-find or specialty items to everyday essentials like diapers, housewares, paper towels, cooking supplies, and even dog food.
Two Rewards Credit Cards You Need if You Shop on Amazon.com
Avoiding the mall and shopping online will definitely save you time, and it will occasionally save you some money to boot. With the right credit card in your wallet, you can also earn some extra cash back at Amazon.com during certain times of the year.
Here are two cards to consider if you love and use Amazon.com regularly anyway, and want to boost your rewards to a whole new level:
Discover it® Cashback Match™
The Discover it® Cashback Match™ lets you earn tiered rewards that rotate every quarter. For most of your purchases, you’ll earn a flat 1% back on every dollar you spend. However, you can also earn 5% back on your first $1,500 spent in categories that rotate every quarter.
When Discover announced its annual “bonus categories” for 2016, they didn’t leave us guessing. In fact, they made it clear that purchases made on Amazon.com would qualify for a 5% cash-back bonus in not just one quarter but two: from the beginning of July until the end of December this year. But, here’s the kicker: Since Discover is matching all of the points you earn your first year, you can actually earn 10% back on Amazon.com purchases during the entire second half of 2016.
The full list of categories that let you earn 5% cash back (plus matching funds after your first 12 months with the card) in 2016 include restaurants and movies (April through June), home improvement stores & Amazon.com (July through September), and Amazon.com and more (October through December).
Since you’ll only earn 5% back on your first $1,500 spent in each quarterly bonus category, your initial cash back bonus is limited to $75. But when Discover doubles the points you earn at the end of your first 12 months, you could potentially have $150 in “extra” cash back each quarter. And remember, you always earn 1% back on every purchase you make, with no limit, and Discover will double that cash back at the end of your first year, too. Best of all, this card never charges an annual fee.
Do remember, however, that Discover makes you sign up manually for each promotion added to your card. So the 5% (and 10%) won’t come automatically; instead, you need to sign into your account and activate the promotion each quarter you plan to participate.
Discover it® Cashback Match™
Highlights:
Chase Freedom®
When the Chase Freedom® card announced its quarterly bonus categories for 2016, they didn’t change much from the year before. Other than switching around the groceries and restaurant categories a bit, it was to stay much the same.
For October through December 2016, this card is offering 5% on “Holiday Shopping and more.” If history tells us anything, that means we will earn 5% back on Amazon.com and a few other online retailers with our Chase Freedom® card in the fourth quarter this year. After all, they have doled out 5% on Amazon.com each holiday season since 2013, though they added the Amazon.com category in January the year before.
If we’re extremely lucky, we might even see a promotion similar to the one from last year. From October through December 2015, Chase offered an amazing 10% back on your first $1,500 spent on Amazon.com, presumably to compete with Discover. For those who travel often and transfer points to their Chase Sapphire Preferred® Card, this was an absolute dream.
We shouldn’t count our eggs before they hatch, of course, but it would be nice to get a repeat on that promotion. Either way, it’s pretty safe to say the Chase Freedom® card will offer at least 5% back the last quarter of this year.
Just remember, as with Discover, earning 5% with your Chase Freedom® card requires a little bit of work on your part. Unlike some other cards that award bonus points automatically, the Chase Freedom® card requires you to “activate” your card. If you haven’t done it for this quarter’s bonus category yet, you can activate it here or through your online account management interface.
Chase Freedom®
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Hate Rotating Rewards? Consider a Cash-Back Card that Offers a Flat Rate
If you like the idea of earning up to 10% on purchases made through Amazon.com, signing up for either one of these cards might be a smart idea. With a top no-fee rewards card in your wallet, you can earn a bare minimum of 1% back for every dollar you spend, plus up to 10% depending on which card you choose and their current promotions.
If you don’t like keeping track of rotating categories or remembering to sign up for a new promotion each quarter, you can also consider a card that offers a flat rate of cash back.
The Chase Freedom Unlimited℠ is a solid option if you want flat rate rewards. With this card, you’ll earn a flat 1.5% back on every purchase you make, including those made on Amazon.com. Plus, you’ll earn a hefty signup bonus just for meeting a small minimum spending requirement within the first 90 days of card ownership.
- Related: Chase Freedom Unlimited Review
A few more details to consider:
Chase Freedom Unlimited℠
Highlights:
Credit Card Directory
If you want to explore more cash back options, including additional cards that earn a flat rate of 1.5% back or more, check out our credit card directory below.
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The post Two Rewards Cards Every Amazon Prime Member Needs appeared first on The Simple Dollar.
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