Why the Prime Visa Is a Must-Have for Frequent Amazon Shoppers

Over the holidays, my uncle mentioned he shops on Amazon a few times a week.

So I asked him if he'd ever heard of the Prime Visa (see rates and fees). He hadn't. Then as soon as I told him it earns 5% back on every Amazon purchase -- with no annual fee -- his exact words were, "Wait, why don't I already have this?"

And he's not alone. A surprising number of frequent Amazon shoppers are still missing out on easy cash back. If you're already paying for Prime, here's why this card is a must-have.

You earn 5% back at Amazon and Whole Foods

The main perk of the Prime Visa is earning rewards on all your Amazon orders. But it actually goes way deeper than that.

Here are the main perks:

• 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
• Instant welcome offer: Get a $150 Amazon Gift Card instantly upon approval exclusively for Prime members
• $0 annual fee

There's no cap on the rewards. So if you're dropping $25K on one of those tiny pre-fab modular homes on Amazon you'll earn cash back on that purchase.

And the rewards are easy to redeem. You can cash them out as a statement credit, or apply them towards a purchase directly at checkout on Amazon.

There's no annual fee (if you already have Prime)

You do need an eligible Amazon Prime membership to qualify for the Prime Visa, but the card itself has no additional annual fee.

So if you're already paying for Prime, this card is a natural add-on.

You also get access to Visa Signature® benefits, which include perks like travel accident insurance, extended warranty protection, and 24/7 concierge service. Just some nice extras that most people overlook.

Get a $150 Amazon Gift Card, too

The Prime Visa also comes with an instant welcome bonus!

Get a $150 Amazon Gift Card instantly upon approval exclusively for Prime members. There's no waiting period or spending required. It posts to your account instantly after approval so you can spend it right away.

Pro tip: Even if you're a longtime Prime member, you can still get this welcome offer as long as you're a new cardholder.

Your rewards can be redeemed instantly

Unlike other cards that make you wait for monthly statements or transfer portals, the Prime Visa lets you use your rewards directly at Amazon checkout.

Every time you go to place an order, you'll see your available cash back balance and can choose how much to apply.

This is probably my favorite feature. I have my Prime Visa set as the default credit card for my Amazon account, so rewards just accrue each time I buy things. Then every once in a while, I look at the balance and see there's $20-$30 in rewards I can put right towards the next purchase.

Final thoughts: It just makes sense if you shop at Amazon a lot

My uncle got the card, by the way. And now every time a package shows up, he likes to text me how much money he just saved on the order.

If you're a Prime member and shop at Amazon or Whole Foods even semi-regularly, this card just makes sense. Between the instant gift card and 5% back without lifting a finger, that's easy money I'll take any day.

See the full details and apply for the Prime Visa here.