Act Fast, Prime Members: Get a $250 Amazon Gift Card Instantly for a Limited Time

If you're an Amazon Prime member, there's a limited-time deal that you need to know about.

Get a $250 Amazon Gift Card instantly upon approval exclusively for Prime members when you're approved for the Prime Visa credit card (see rates and fees). There's no spending required.

That's the easiest bonus I've ever seen, and you can start using it the moment you're approved. I signed up last month, and I've already used the gift card to buy some Christmas presents.

Plus, I expect to use this no-annual-fee card for years to come. Here's why.

Why this offer is a big deal

The bonus is exceptional

An instant $250 bonus is generous for a card with no annual fee. Many no-annual-fee cards offer a $200 bonus -- after you spend a certain amount. In other words, it takes more time and effort to earn a smaller bonus.

The rewards are top-tier

The gift card is the attention grabber, but the Prime Visa's cash back rewards make it a great long-term value for Prime members.

Here's how much cash back it earns:

• 5% cash rewards on Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership
• 2% cash rewards at gas stations, restaurants, and on local transit and commuting (including rideshare)
• 1% cash rewards on all other purchases

The rewards are unlimited. You don't have to worry about hitting any spending caps.

Note that the card technically earns points, which can be redeemed…

• At Amazon checkout to pay for purchases
• Through your Chase portal for cash back, gift cards, or travel

I plan to redeem my points for cash, which I'll put in my high-yield savings account. That way all my Amazon purchases earn 5% back, and my cash rewards will earn interest.

Who this offer makes the most sense for

This deal is especially compelling if:

• You're already an Amazon Prime member
• You shop on Amazon regularly
• You want instant value, not a bonus you have to chase
• You like no-annual-fee cards

You do need an active Prime membership to qualify. If you cancel your Prime membership after getting the card, then your 5% cash back categories will be downgraded to 3%.

Act fast to claim the gift card

This limited-time offer was recently extended, but I expect it to disappear soon. Since the card has no annual fee, there's almost no reason for Prime members not to sign up, so long as you can keep your spending in check and pay your bill in full each month.

Getting $250 instantly -- before you make a single purchase -- is hard to beat.

Click here to learn more about the Prime Visa card and apply today for a shot at an instant $250 Amazon gift card on approval.