Offer Extended: Claim an Instant $250 Amazon Gift Card Today

If you're an Amazon Prime member, there could be an easy $250 waiting for you.

The Prime Visa card (see rates and fees) is offering a limited-time welcome offer and that offer has been recently extended: Get a $250 Amazon Gift Card instantly upon approval exclusively for Prime members. This is great news for people who still have gifts to buy. There's no spending requirement and no waiting.

And even after that bonus, this card is built to save Prime members real money every month.

Here's what you need to know.

Why this offer is so good

Most credit card bonuses require you to spend anywhere from $500 to several thousand dollars. The Prime Visa skips all of that. The bonus hits your Amazon account the moment your application is approved.

Plus, $250 is on the high end for a card with no annual fee. A $200 bonus is more common.

Why the Prime Visa is worth it for the long haul

This is the part that keeps people using the card for years.

Prime members earn:

• 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

There's no annual fee and no spending caps. That combination is rare.

If you place even a couple Amazon orders each month, the earnings can add up fast.

What your Amazon spending can earn you

Here's how much 5% back turns into over a year, just from Amazon purchases:

How it stacks up against other cash back cards

Some of the best no-annual-fee cards offer rewards like:

• Unlimited 2% cash back on everything
• Unlimited 3% cash back in some categories
• 5% cash back in some categories, up to a spending limit

With unlimited 5% cash rewards on Amazon, the Prime Visa card beats all the rest in that category.

You might want to use other cards for non-Amazon spending, but there's almost no reason not to use the Prime Visa on Amazon.

Redeeming rewards is simple

You can use your points at Amazon checkout, but that stops you from earning 5% back on every dollar. A better move is to redeem points through Chase for cash back and drop that money into a high-yield savings account. It's easy, and it helps your rewards earn even more money.

Two caveats

The Prime Visa card is for Prime members only. If you cancel your Prime membership after getting the card, your 5% cash back categories will be downgraded to 3%.

The only other thing to watch out for is that it's very easy to overspend on Amazon. If you don't pay off your balance in full every month, then the interest you pay will cost far more than the rewards you earn.

How to claim your $250 before the offer ends

This offer has been extended, but it won't be around forever. If you want the instant gift card, it's best not to wait. I signed up last month, and the whole process took about 30 seconds.

You can click here to learn more and apply for the Prime Visa for an instant $250 gift card upon approval.