We’ve had a lot of fun together here  but for this post we are just going to have to put our toys away for a bit, pull up our big boy pants, and act like adults. I promise, I wouldn’t do this if it weren’t important and I’ll try to make it so fast. Ok, here it is in one breath:
Amazon released an Amazon Prime Store Card with 5% cash back on everything you buy on Amazon. You should get it.
That is it really. If you pay attention to credit card deals and all those shenanigans then you already know that this is a great deal. They even sweeten the deal with a free $40 gift card which, I’m like: sure, thanks. It’s already the best benefit you can get on Amazon purchases, if they want to give me $40 to save money then I’m like: thanks idiots.
I’m trying to keep this simple. If you feel comfortable getting a new credit card then get this one, set it up as your default Amazon payment method, then carry on with your life. The most surprising thing about this card is how little it has been talked about. Amazon just sort of quietly made it available a few months ago and didn’t advertise or really tell anyone. I don’t know why they soft launched, but I suggest snapping this card up before they come to their senses.
Downsides? Well, you need to be a member of Amazon Prime to get this card. If you aren’t, then I assume you have already done the math for yourself and found out that it doesn’t make sense to get free two day shipping and Amazon instant video. That is fine, if you don’t shop on Amazon enough for Prime to be worthwhile then you probably also won’t be excited about cash back at Amazon. NBD. Digging deeper into the reviews out there (again, this card isn't brand new, it just hasn't been advertised, so you can google around on it), some people complained about the customer service at the bank that provides the card. Seems valid if you find yourself often dealing with your banks customer service (I avoid that at all costs). But most complaints are that the sign-up bonus is small. It is. If you are really hardcore in the point game then you already know all about this card and have decided whether it is worth a hard pull on your transunion credit union score. If you are deep into the points game then keep on with what you do, that is cool, but if you just shop on Amazon and want to get 5% cash back without much effort, then that is what this card is for.
That is almost all... But it is probably worth at least mentioning why this card and Amazon Prime exist: Amazon wants all of your business. They are willing to make no profit for decades if that will position them as a massive company pulling in all of your shopping someday. This card helps them get you to do more of your shopping on Amazon. So does Amazon Dash, the Dash Button, Echo, video, and I guess music.
Personally, I see that business model, see how they are trying to get me to do more shopping on Amazon, and currently am not bothered by it. But it is nice to understand why they are offering this “too good to be true” credit card deal . It isn’t too good to be true. They want you to shop more on Amazon and will sacrifice profit to do that. If you are ok with shopping on Amazon then get this card ASAP. Oh. By clicking here. This link. Or this one. They are all the same and I get no benefit from them because Amazon is dumb enough to have this amazing card but not dumb enough to give me referral benefit from it.