Earning Rewards
Eligible new cardmembers will instantly receive a $100 Amazon gift card upon approval with an eligible Prime membership.
Additionally, when you use your Prime Visa for spending, you’ll get 5% back on purchases at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership, 2% back at gas stations, restaurants and on local transit and commuting (including rideshare), and 1% back on other purchases.
Redeeming Rewards
First, you can redeem your Prime Visa points by using them to shop at Amazon.com. To shop with your points, you’ll add items to your Amazon.com card and then use your Prime Visa as your payment method. You’ll then have the option to use your rewards points to cover some or all of your purchase.
You can also redeem your Prime Visa points for cash back, travel through the Chase travel portal, or gift cards.
Rewards Potential
To get an idea of the rewards potential for the average consumer, Forbes Advisor uses data from various government agencies to determine baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in about $118,438 per year, and that’s the number we’ll use for our estimates. Our data shows that the average household has roughly $39,337 in expenses that could be charged to this credit card.
The typical household spends $4,708 on groceries outside of warehouse clubs and large discount retailers. Let’s assume you do that shopping at Whole Foods, and since those purchases would be eligible for the 5% cash back, you’d end up with a total of $235.40. You’d get another $25.35 back from the grocery shopping you do at warehouse clubs and large discount retailers, thanks to the 1% cash back.
Next, let’s assume you purchase all your travel through the Chase Travel Portal. The typical household travel expenditures, which equal roughly $8,573, would be eligible for 5% cash back, meaning a total annual cash back of $428.65.
This card also offers 2% back at gas stations, at restaurants and on transportation purchases. Those categories average $2,990, $4,622 and $573, respectively. Combined, those categories would net you about $163.70 cash back for the year.
Finally, the remainder of the typical household spending, which comes to $15,336, would be eligible for the 1% cash back, for a total annual cash back of about $153.36.
That brings your total cash back to roughly $1,006.46 per year. And in many cases, this number could be higher. Because we don’t have a breakdown for the typical household’s online versus in-store shopping, we’ve only allocated the 1% cash back to shopping. In reality, many families probably do a lot of that shopping on Amazon, which would make it eligible for the 5% cash back.
