New Amazon credit card gives 5% back and sign-up bonus!

The new Amazon credit card is a boon for Prime members

The new Amazon credit card has some major perks for Amazon Prime users. The main perk is that with this credit card Amazon Prime users will get 5% cash back on all purchases made on Amazon.com. You’ll also get a $70 Amazon gift card upon approval for signing up.

Other perks include:

• 2% cash back at gas stations, drugstores and restaurants
• 1% cash back on all other purchases
• No cap on earned rewards
• No foreign transaction fees
• No annual fee
• Travel benefits like rental car collision coverage, lost luggage reimbursement and more.

You’ll need to maintain your Prime membership in order to get the 5% cash back on Amazon.com purchases. If you let it lapse, you’ll receive 3% on your Amazon purchases.