This article focuses on practical ways that you can get Amazon reward points and redeem them for cash.
If you use the Amazon eCommerce platform frequently, you should not allow your spending to waste. Amazon has a reward program, where points are used to make cash-oriented purchases. Without further mouthing, let us delve in.
3 Ways to Get Amazon Reward Points And Redeem Them For Cash
Here are three ways you can easily get Amazon reward points:
1. Amazon Gift Cards
There are brick-and-mortar stores, even online retailers that sell Amazon gift cards. If you are in possession of a gift card that gives rewards points to different retailers in America, then there are chances that you can find a store in that category that sells Amazon gift cards.
For instance, if you have a credit card that offers reward points at grocery stores, be on the lookout for whether they offer Amazon gift cards. With this approach, you will get extra reward points for the purchase of the gift card, which you can use later on Amazon.
2. Credit Cards That Offer Bonuses For Online Purchases
If you are the type of person that indulges in a lot of online shopping, you might consider opting for a card that gives you bonus points for your purchases.
A lot of card issues in America are rolling out more credit cards that cover this bonus category. For instance, Chase Freedom and Discover It offer bonuses on some purchases made on Amazon.
3. By Using An Amazon Credit Card
If you are a purchase-savvy person, it would be a nice tactic to opt for an Amazon Credit Card. The Amazon credit card has two different categories; the one with an annual fee- Chase Amazon Prime Visa Signature Card, and Chase Amazon Rewards Visa Signature Card.
The first aforementioned card gives you 5% cash back at Amazon, while the second type of Amazon credit card gives you 3% cash back. When you use these cards, you don’t only get cash back, but also get reward points that can be redeemed at later dates for good money.
How To Redeem Your Reward Points For Cash
After making a purchase with an Amazon gift card, or Amazon credit card, you would accrue points that would be applied to your account after each statement cycle. It is important to note that one reward point is equal to $0.01. However, since you are eligible to earn 5% on every Amazon purchase that you make, it is 5 points for every one dollar spent.
There is no big fuss in redeeming Amazon reward points. You can redeem points on the Chase website or directly on Amazon. It is important to note that redeeming points for an immediate discount on your Amazon purchase is not the best idea.
Let us assume that you have a points balance of 40,000 (which is $400 to redeem). If you want to buy a smartphone worth $600, you would end up paying $200, as your reward points would help counterbalance.
How To Redeem Amazon Reward Points For Cash
Redeeming Amazon Reward points for cash is a pretty simple process. This can be done on the Chase website and transferred to your bank account for free.
On the Amazon platform, you will pay the full price of the product you wish to buy, and then use the rewards transferred to your bank account to pay for the credit card charge.