AMAZON PRIME: Apply for an Amazon Prime Visa, earn a $200 Amazon Gift Card instantly upon approval (instant approval)

the due date of the statement”. I was shocked and upset by this change, as it completely negated the benefit of the 3% back. I promptly canceled the card and moved on to other reward cards with better terms. I recently applied for the Amazon Prime Visa and was approved instantly. I was excited to have the opportunity to earn rewards on my Amazon purchases once again. However, my excitement quickly turned to disappointment.

After receiving my card, I tried to use it for a purchase at a local restaurant, only to have it rejected. Confused, I called Chase and was informed that my card had been closed without notice. They claimed that there was not enough credit information on file, despite the fact that I had provided all necessary documents during the application process. This lack of transparency and sudden closure left me frustrated and questioning the reliability of this product.

But that’s not the end of my story. I also discovered that the Amazon Prime Visa has some sneaky interest rate policies. As a loan underwriter and credit analyst, I have a good understanding of how credit cards work. However, even with my knowledge, I was caught off guard by the terms of this card. If you don’t pay your balance in full each month, they will not only charge interest on the carry-over balance but also on your new purchases, even if you are still within the grace period. This predatory practice not only undermines the rewards of the card but also makes it financially detrimental to carry a balance.

With an APR of over 15% and no grace period due to a mere $25 balance carry-over, it’s safe to assume that the average interest rate on this card is well over 20%. This is simply not worth it when there are other reward cards available that offer better terms and don’t engage in such usurious practices.

I used to be a loyal customer of Chase and an avid user of the previous Amazon Rewards card. But after my recent experiences, I cannot recommend the Amazon Prime Visa. The lack of transparency, sudden closure of accounts, and sneaky interest rate policies have left me disillusioned.

If you’re considering applying for the Amazon Prime Visa, I urge you to think twice. Take into account the customer reviews and consider other options that provide better terms and benefits. Don’t let the allure of a $200 Amazon Gift Card blind you to the potential pitfalls of this card. Choose wisely and make informed decisions about your credit cards.

Remember, your financial well-being is more important than any gift card or rewards program.