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Amazon upgrades its Prime credit card with 5 percent cashback

Amazon and Chase Bank’s Prime credit card has simple appeal: every time you buy stuff from Amazon you get money back (in the form of points) for further purchases. The card has been around for a few years now, but today got a neat little upgrade: instead of getting three percent cashback on Amazon purchases, you’ll now get five percent.

Other rewards for the card (including two percent cashback on restaurants, gas stations and drugstores; one percent on all other purchases) remain the same. To be clear though: this isn’t putting cash into your wallet, it’s giving you “points” you can spend only at Amazon. They’re easy to redeem, appearing automatically at the checkout, but they’re not transferable.

It’s a typical virtuous cycle for Amazon, but could be worth your time if you’re a big Prime spender. You’ll need to be a member of the company’s membership program to be eligible, but the card has other redeeming aspects, including no annual fee and no cost for foreign transactions. For more information on what you get (and what you don’t) check out Amazon’s promo page.

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