Disruption Deluxe: The New Amazon Prime Credit Card

Amazon sold its first book back in 1995. Since then the company has created and fostered disruptive customer service technology like no other organization on earth. And they have reaped rich rewards for things such as drone delivery, Amazon Prime, one-click purchases, and Amazon Go. This month they proudly announced their latest disruptive scheme with an Amazon Prime credit card which offers, among other things, five percent discount on every single purchase, with a host of other amazing benefits.

Here are the details:

Not only do you get a five percent discount on every Amazon buy, but the card, officially called the ‘Amazon Prime Rewards Visa Signature Card’, is being issued by J.P. Morgan Chase Company, so you can use it for some additional cash back options -- such as two percent back at selected convenience stores, drugstores, and restaurants, plus one percent back at other select retailers.

Since it’s automatically part of your Amazon Prime account, there are no additional fees or hidden charges involved.

It’s a travel-friendly card -- since all international fees and surcharges are waived when you use it. So take it along with you to Europe or Asia!

As with the leading credit cards worldwide, the Amazon Prime Rewards Visa Signature Card also offers automatic concierge service, roadside assistance 24/7, and uncomplicated travel insurance.

The card itself is a nickel chromium blend, like the American Express Centurion Card. So ‘plastic’ is now a dirty word when it comes to premium credit cards.

When you apply for and receive the card you are automatically granted an Amazon gift card to the tune of seventy dollars -- which can just about pay your $99.00 Amazon Prime fee for the first year.

According to TheGlimpse, “Amazon Prime is proving to be more and more popular with Millennials and younger demographics as they turn more frequently to online shopping for everything from books to shoes to cosmetics and even food delivery.” It offers unlimited free 2 day shipping, no-charge tv shows and movies, music venues, both Kindle and hardback books, and magazines, among other things. All of that for just ninety nine dollars per year.

The card has an APR that varies from 14.74 percent to 22.74 percent -- which is still lower than the 26 percent APR on the regular Amazon.com Store Card. And if you choose not to be an Amazon Prime member you can still get the card and receive a lesser discount on purchases, usually around three percent.

The reason behind this disruptive new financing strategy is to push more consumers into online buying and away from brick and mortar shopping.

According to Consumer Intelligence Research Partners,nearly half of U.S. households have an Amazon Prime membership.

Marketing strategists and consumer affair specialists are predicting both a backlash and a deepening trough in the spending trends of almost every demographic starting in 2017. A combination of political, environmental, and financial concerns will dampen consumer spending unless they are redirected to better and more substantial discount perceptions.

Amazon’s new credit card offers a points system that allows you to actually put cash back onto your credit card after accumulating enough points each month. Research shows that this is still one of the best strategies for bumping up purchases on the internet.

Since Amazon Prime members spend nearly twice as much as regular members, Amazon is going to keep making Prime membership more and more attractive with continuing and aggressive bonus offers like the new credit card.


Awais Ahmed is a student, blogger and digital marketer who helps small entrepreneurs to improve their online presence. He has a range of interests including technology, apps and small business.

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