Here's What Happens When You Get Approved for the Prime Visa

When I got approved for the Prime Visa (see rates and fees), a few very cool things happened right away. And now I've somehow become "that guy" who raves on about his new favorite credit card. 🙄

If you are an Amazon Prime member right now and shop at Amazon even semi-regularly (or at all, honestly), this card is kind of a no-brainer.

Here's what goes down the moment you get approved.

Get a $150 Amazon Gift Card instantly

Most credit cards make you spend a few grand in the first three months to earn a welcome offer. Not this one.

With the Prime Visa, you get a $150 Amazon Gift Card instantly upon approval, exclusively for Prime members. There's no minimum spend to hit. No delay or waiting period either. Just apply, get approved, and boom -- the bonus is added to your account balance.

And if you've got a cart full of stuff, you can even use it right away at checkout.

You can start earning 5% back right away

There's no need to wait for the physical card to arrive in the mail. As soon as you're approved, you can add your new Prime Visa to your Amazon wallet (and set it as the default payment method).

From then on, you'll get rewards on all orders: Earn unlimited 5% cash rewards at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership.

If you spend, say, $500 a month on Amazon -- which is pretty easy these days -- you're looking at $25 per month or $300 a year in rewards. Not bad for a card with no annual fee (Prime membership required).

You earn cash back on other stuff too

Even though this card is clearly built for Amazon fans, it actually has pretty good everyday spending rewards too.

Here are the other rewards you can get:

• 2% cash rewards on gas stations, restaurants, and on local transit and commuting (including rideshare)
• 1% cash rewards on all other purchases
• Prime Card Bonus: Earn 10% back or more on a rotating selection of items and categories on Amazon.com with an eligible Prime membership

What I like is the combo of premium and practical. You can rack up rewards while grocery shopping, filling up your tank, grabbing lunch, or riding the subway. It basically covers your core spending habits.

And unlike rotating category cards (where you have to opt in every quarter), these rates are set-it-and-forget-it.

What are you waiting for?

The final thing that will probably happen when you get approved for the Prime Visa: You'll start singing its praises to all your friends (like I do).

But seriously -- with no annual fee, it's a natural add-on for anyone with a Prime membership. You can squeeze out even more value and get more rewards for all the stuff you're going to buy anyway.

Read our full review and apply for the Prime Visa here.