Amazon.com strives to be the e-commerce destination where consumerscan find and discover anything they want to buy online.-- Jeff Bezos
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Jeff Bezos, founder and CEO of Amazon.com, is not only striving, but succeeding. His company hit a record-high stock price recently, and some are predicting that it will eclipse Appleand Microsoftand become the first company with a market capitalization of $1 trillion.
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There's a good chance that you do a lot of your shopping at Amazon, and if so, you'd do well to consider using a credit card that pays you cash back for your Amazon spending. Here are some of thebest credit cardsfor your consideration:
Amazon Prime Store Card
This cardis only for Amazon Prime members, with Prime membership recently costing $99 per year. It has been estimated that there are at least 66 millionmembers, though, so there's a good chance you're a member and able to take advantage of this card.
If you're not, but you spend a lot at Amazon, it might be worth a Prime membership in order to get the card. Why? Because it offers 5% back on purchases at Amazon. Spend about $100 per week, on average, at Amazon, and that can get you $260.
It offers special financing deals, too. There's no annual fee, but the card only can be used for Amazon purchases. (Its APR is on the steep side, though, so aim to pay off your bills in full.)
This cardis another good option for Amazon shoppers and is available to Prime members and non-members alike. It, too, charges no annual fee and no foreign transaction fees, either.
You'll receive a $50 Amazon.com gift card upon signing up and then earn 3% cash back on all Amazon purchases, 2% back on spending at restaurants, gas stations, and drugstores, and 1% back on everything else. This card is more versatile than the Amazon Prime Store Card as it can be used in most retail locations and offers many common card perks, such as extended warranty protections.
Amazon Prime Rewards
If you're an Amazon Prime member and would like the best of both cards above, thisis the one for you. It sports largely the same terms, only you receive a $70 gift card as a welcome gift, and more importantly, you earn 5% cash back on Amazon purchases (plus 2% back on spending at restaurants, gas stations, and drugstores, and 1% back on everything else, as with the above card).
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Discover it Cashback Match
This cardoffers a simple 1% back on all spending, plus 5% back on purchases in rotating categories such as restaurants, gas stations, or Amazon.com (up to a limit of $1,500 in spending each quarter, limiting the reward to $75 per quarter). You won't earn 5% back on Amazon spending at all times, but when you do, it will be a sizable percentage amount. (In 2016, 5% back on Amazon spending was available for a full six months.)
The deal gets a little better, too: After your first year ends, the card will match the rewards it has already given you. So if you earned 5% back on lots of Amazon purchases, you'll receive another 5% back, for a whopping total of 10%. This is only for the first year, but it can still be well worth it. The card charges no annual fee, and it includes your FICO score on each statement. (Read our full review ofDiscover it Card to learn more.)
U.S. Bank Cash+
This card, like the Discover card above, offers5% back in rotating categories that you choose from a range of options. You get to select two per quarter, and you may be able to choose bookstores -- with Amazon being classified as one -- in more than one quarter. The 5% back is capped at $2,000 in spending per quarter -- enough to earn $100 in the period.
You'll also get to choose which everyday category (such as gas or supermarkets) you'll earn 2% cash back on, and you'll collect 1% back on everything else. There's no annual fee.
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Citi Double Cash Card
The Citi Double Cash Card will never pay you 5% or even 3% cash back on your Amazon spending, but it will payyou 2% back -- on all your spending. You'll get 1% when you make a purchase and then another 1% when you pay off that sum.
That's clearly not the best Amazon cash back deal around, but it's simple and dependable, and may net you the most, overall, when you take all your spending into account. After all, with many other cards, most purchases earn just 1%, while here they will earn 2%. (Read our full review of the Citi Double Cash Card to learn more.)
This card offersa simple 2% cash back reward -- with a catch. The 2% will be deposited into a Fidelity account. That can be perfect if you've got a Fidelity savings account, retirement account, brokerage account, or other account. It's also perfect if you'd like one card to use for most of your spending that features a significant cash back percentage on everything -- and it can help achieve your retirement savings goals, too. There's no annual fee.
If you shop at Amazon a lot, you'd do well to see if a credit card that pays you cash back for those purchases makes sense for you. Be sure to read the fine print and terms for any card of interest, as there may be details making each card more or less attractive.
Some, for example, may limit how big a balance transfer you can make, while others might be offering an enticing sign-up bonus. Many great cards require a good or great credit score -- so you might want to beef up your score before applying.
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Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft. Selena Maranjian owns shares of Amazon, Apple, and Microsoft. The Motley Fool owns shares of and recommends Amazon and Apple. The Motley Fool has the following options: long January 2018 $90 calls on Apple and short January 2018 $95 calls on Apple. The Motley Fool has a disclosure policy.