I just discovered you can redeem your Amazon Reward points for a cash value credit, either transferred to your attached Bank account or statement credit on your cc, Vs using to pay for your Amazon purchases.
I always thought I'm tied to redeem for my Amazon purchase, felt the need to buy something to redeem my rewards and I lost out on a $500 purchase.
For Example If i would use my Amazon Rewards card I would gain an additional 2500 ($25) Points or have the ability to use my Amex or Chase cards which have the Extended warranty and protection.
That means there shouldn't be any reason one would be redeeming their points on Amazon upon checkout, rather redeem it for cash back and then use a cc on the purchase to earn additional points like meantioned before. Can't believe that I'm only bumping into this option now.
And for the longest time I was redeeming my points on Amazon.
I've collected many Amazon points over the years and I lost out while not knowing this redemption ability.
That makes your effective rebate on Amazon purchases at least 7.5%.
That's a true statement, but then again your 7.5% is limited to use only at select places like meantioned; airfare, hotels, car rentals, and activities.
While if you're not traveling then your better off using the Amazon Prime card from the comfort of your home Vs going to an office supply store and buying a GC, as well you're not getting any of the benefits that the Amazon Prime card has to offer, just to name one off the top of my head, Theft and damage protection up to $500 Per claim.