Amazon Prime Members Are Eligible for a $200 Bonus Offer This Month

If you're planning to shop for any Prime Day deals, this Amazon credit card is a must-have.

Amazon Prime Day is back, with deals running on Tuesday, July 12 and Wednesday, July 13. Those sales aren't the only way for Prime members to save. As part of its special offers, Amazon has also increased the welcome bonus on the Prime Visa.

From July 1 through July 29, the welcome bonus is a $200 Amazon gift card for new cardholders. To make it even better, this isn't a bonus that requires you to hit any sort of spending minimum. You receive it instantly when your application is approved. Here's what you need to know about this credit card and how to get it.

The best way to pay for Amazon purchases

Store credit cards can be hit or miss, but the Prime Visa is definitely one of the top options. It normally earns 5% back at Amazon.com and Whole Foods Market. On Prime Day, that's bumped up to 6% back, which is a very high rate, even compared to the best credit cards.

Here's a quick summary of its other notable perks:

• 10% back or more on a rotating selection of Amazon products and categories (through limited-time offers)
• 2% back at restaurants, gas stations, and drug stores
• 1% back on other purchases
• No annual fee
• No foreign transaction fee

Even if you're not planning to buy anything on Prime Day, this is still a great time to get an Amazon credit card. The welcome bonus varies, but it's usually anywhere from $70 to $100. A $200 bonus is the highest I've seen for this card, and you don't need to do any work to get it. I applied and got approved, and the gift card was in my account as soon as I checked.

That means if you are going to shop those Prime Day sales, you'll have the gift card available to save yourself $200. The Amazon credit card also gets loaded to your account's payment methods upon approval, so you can use it right away.

How to apply for an Amazon credit card

To apply for an Amazon card, visit Amazon's credit card page. You'll need to sign in to your account first, and then you choose the "Apply Now" option. The application asks for the standard personal and financial information, including your:

• Full name
• Date of birth
• Social Security number
• Address
• Annual income
• Monthly rent/mortgage payment

There are two Amazon credit cards available. The Prime Visa, which has the $200 welcome bonus, is for Prime members. There's also the Amazon Visa, which is for non-members and has a smaller $50 welcome bonus. Amazon selects the correct card for you during the application process.

This Amazon credit card bonus is one of many offers going on right now. You can also get $60 in free money for Prime Day by completing different tasks. If you have any items on your Amazon wish list, it's worth taking advantage of offers like these to save yourself some money.