Stack 5% Back + $150 Amazon Gift Card With the Prime Visa

Imagine if you had a secret cheat code that got you an additional 5% discount on all of your Amazon orders.

Well, that's basically what the Prime Visa (see rates and fees) does. It earns 5% cash rewards at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership.

There's a $0 annual fee. Plus, new cardholders get an instant $150 Amazon Gift Card upon approval.

Here are all the deets.

Discounts on stuff you already buy

According to WalletHub data, the average cash back rate across all credit cards is 1.17%. That's not horrible, but it's certainly not amazing.

This is where the Prime Visa shines, especially for Amazon fans. Here are the ways it rewards Prime members:

• 5% cash rewards at 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

These rewards come in the form of points, which you can redeem for future Amazon purchases, travel, or simple statement credits to your account.

If you get this card and make it the default payment method for all your Amazon purchases (that's what I did), you'll start earning an easy $5 back on every $100 you spend.

Get a $150 Amazon Gift Card instantly with approval

It's very rare to see a credit card sign-up bonus that doesn't require any minimum spending. But the Prime Visa offers one…

Get a $150 Amazon Gift Card instantly upon approval exclusively for Prime members.

That credit drops right into your Amazon account and can be used on your very next purchase.

I can personally vouch for how fast it is. When I applied back in July, I got approved in less than 10 seconds, and my Amazon balance increased almost immediately afterwards.

Even if you're not planning a big spend, a free $150 Amazon gift card is tough to beat.

Earning $545 back in a year

Let's have a look at what these rewards rates look like in real dollars.

Based on my own spending last year, here's how this card would earn rewards:

• Amazon purchases: $3,500 × 5% = $175 back
• Travel bookings: $4,000 × 5% = $200 back
• Dining and gas: $1,000 × 2% = $20 back

That's $395 in rewards just from those categories.

And if you add in the $150 Amazon gift card welcome bonus, my total first-year value would've been $545 back.

Pretty solid for a card with no annual fee.

Great timing for Prime Big Deal Days on Oct. 7-8

Amazon recently announced Prime Big Deal Days on Oct. 7-8 this year.

So if you're planning to do a bit of bulk shopping, that 5% back will stretch your dollar further during the two-day sale.

But honestly, the Prime Visa is a solid value play regardless of when you shop. It's built for regular Prime members who want to get rewarded for the spending they're already doing.

Explore other top rewards cards here, and start earning more on your everyday spending.