Amazon Credit Card: understanding its perks
The Amazon credit card has gained attention because of its tailored benefits for frequent Amazon shoppers.
This financial product offers cashback rewards, exclusive perks, and flexible terms, which makes it an interesting option for this company’s loyal customers.
In this guide, we’ll explore the main details of this credit card, so you can decide if it’s the right fit for your financial needs. Keep reading!
Pros and cons of the Amazon credit card
When considering any credit card, evaluating its strengths and weaknesses is essential.
Here’s a breakdown of the benefits and potential drawbacks of this credit card:
Advantages
This financial product provides several advantages to its customers, such as:
- There is no annual fee, which means the cardholder can enjoy the benefits without the burden of this cost;
- Consumers get 5% back on their first $3,000 in eligible purchases on Amazon Canada, Whole Foods Market stores, restaurants, and grocery stores;
- Users receive 1.5% back on eligible purchases on Amazon Canada and Whole Foods Market stores, while eligible Prime members get 2.5% back;
- Clients are rewarded with 1% back on eligible foreign currency transactions.
Disadvantages
This financial product also comes with potential drawbacks that clients must be aware of before applying.
Take a look at the disadvantages of the Amazon credit card below:
- While great for Amazon and partner stores, cashback on eligible purchases in non-affiliated stores is limited to 1%;
- The interest rates on purchases and cash advances may be considered high for some consumers;
- Some perks are available only to Prime members, limiting access for others;
- Unlike many credit cards, this alternative doesn’t come with insurance options.
Still, for frequent Amazon and Whole Foods shoppers who pay their balance in full each month, the card’s rewards can outweigh the limitations and offer real everyday value.
Fees and rates
While the rewards might have your attention, understanding the fees of this credit card is equally important.
Check below the main costs associated with this product:
- Annual fee: non-applicable;
- Interest rate on purchases: 19.99%;
- Interest rate on cash advances: 22.99% and 20.99% for Quebec residents;
- Interest rate on balance transfers: 22.99% and 20.99% for Quebec residents;
- Foreign currency conversion fee: 2.5%;
- Overlimit fee: $29.00.
Updated according to the issuing website on 05/08/2025
About the bank
The Amazon credit card is issued by MBNA Canada, a trusted name in the financial services industry.
This institution specializes in providing products that cater to a wide range of customer needs.
With a focus on customer satisfaction, they offer accessible online tools, responsive consumer service, and secure account management.
The bank’s reputation for reliability and innovative financial services makes it an interesting choice for those considering this credit card.
Application
The MBNA Canada app is designed to enhance your experience with the Amazon credit card.
Through the application, cardholders can easily manage their accounts, monitor transactions, and access several other features tailored for convenience.
Furthermore, clients can make payments quickly and securely, with options to set up automatic bill payments and enable notifications for due dates and other important reminders.
The app is available for download on iOS and Android platforms, offering a user-friendly way to manage your credit card anytime, anywhere.
Opinion about the card
The Amazon credit card is an interesting choice for Amazon shoppers, especially Prime members, who can unlock extra perks.
Its lack of an annual fee and 5% cashback on Amazon purchases are standout features.
However, for those who shop across various categories or carry a balance month to month, its limited cashback options and elevated interest rates may not be ideal.
This financial product is best suited for consumers who can maximize their rewards without incurring high interest charges.
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