On Jan. 20, Chase announced some changes to the Amazon Prime Rewards Visa Signature Credit Card to highlight Whole Foods Market, which Amazon acquired in 2017. Through March 3, new cardholders can earn a $100 one-time bonus when using their card in-store at Whole Foods Market locations. The card issuer is also offering both new and existing cardholders the option to choose a new card design featuring Whole Foods rather than the Amazon logo.
- People who sign up for the Amazon Prime Rewards Visa Signature Card through March 3 can earn a $100 statement credit after they spend $100 in Whole Foods Market stores in their first two months with the card.
- Or, they can opt to receive a $70 Amazon gift card upon approval, which is the card’s standard bonus.
- New and existing holders of the card can choose a card design that features Whole Foods Market instead of Amazon’s logo.
The New Amazon Prime Rewards Card Offer
The Amazon Prime Rewards Visa Signature Card already offers standout rewards for members of the retailer’s Prime program. Cardholders earn 5% cash back at Amazon and Whole Foods Market, as long as they have an eligible membership.
They also receive 2% cash back at restaurants, gas stations, and drugstores, plus 1% back on everything else.
The original card design features the Amazon smile logo. But with the new design, Chase is highlighting the card’s Whole Foods connection, which may not be readily apparent to consumers.
The new card design option includes the Whole Foods Market logo, but it’s still the same card. The only difference beyond the design is that new cardholders can choose between a $70 Amazon gift card upon approval or a $100 statement credit after spending $100 at Whole Foods Market locations in the first two months.
The alternate sign-up bonus is available through March 3.
Should You Get the Card?
If you don’t already have the Amazon Prime Rewards Visa Signature card, you may be wondering if it’s worth it for the Whole Foods rewards. Unless you already shop there regularly, though, it doesn’t make much sense to switch just to earn 5% cash back.
According to a widely reported 2019 study by Bank of America Merrill Lynch, the grocer was the most expensive in the U.S., charging prices 34% higher than Walmart, the cheapest store in the study.
What’s more, the high rewards rate only applies if you have an Amazon Prime membership. If you don’t, you’ll earn just 3% back on Amazon and Whole Foods Market purchases. And if you pay $119 per year to join Prime just to get the card, you’d need to spend $5,950 with those merchants to make up for the cost.
In other words, the card may be worth it if you regularly shop at Whole Foods Market already and have a Prime membership. Otherwise, the cost associated with shopping at the pricey grocery store may not be worth it.