Amazon.com offers an instant approval Rewards Visa credit card. The card’s application page includes this language:
“Get an Amazon.com Gift Card instantly upon approval.”
So, instant approval is not guaranteed, but, if your credit is good enough, it can be achieved.
If you are instantly approved, the rewards start immediately. For most cardholders, you’ll get the following reward perks:
- A $50 Amazon gift card will be loaded into your Amazon.com account as soon as you are approved for the card
- You earn rebates/points that you can use for Amazon credit or for other rewards. You’ll get a 3% (3 points per dollar) reward on Amazon.com purchases, 2% at restaurants, gas stations and drug stores, and 1% back on all other card purchases. Points are worth 1 penny each when redeemed. (Example 1000 points = $10 in rewards.)
If you are a paid Amazon Prime member, you can boost the points reward even higher — to 5 points per dollar on Amazon purchases, plus get a $70 Amazon gift card loaded to your account upon approval.
You can redeem your rewards right at the checkout when you make Amazon purchases. You can also use the points for cash back, gift cards, or other rewards.
In terms of interest rate, you could be approved at a rate as low as 14.74%, but you could also be approved at a rate as high as 22.74%. Obviously the lower interest rate is preferable, but you should be paying off your complete balance each month regardless of how low or high the rate is.
You can apply (and hopefully get instant approval) for the Amazon.com Visa online here.