Amazon Platinum Mastercard: Worth Your Wallet?
Curious about the Amazon Platinum Mastercard? Dive into the upsides and downsides of this no-annual-fee card and see if it fits your spending habits.
The Quick Version
If you're an Amazon enthusiast, the Amazon Platinum Mastercard might catch your eye with its 1.5% rewards rate on Amazon purchases and no annual fee. But, with a 24.9% variable APR, it's not for the faint-hearted. You do get a modest sign-up bonus with a £15 Amazon gift card upon approval, but the card's perks might not outshine those from competitors like the Barclaycard Rewards card or the Hilton Honors Amex.
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Amazon Platinum Mastercard
What's Inside
The Amazon Platinum Mastercard is a straightforward credit card with no annual fee, making it a low-commitment option for those who shop regularly on Amazon. It offers a 1.5% rewards rate on Amazon purchases and 0.75% elsewhere, which isn’t groundbreaking but certainly adds up for frequent Amazon shoppers. The card operates on the Mastercard network, ensuring wide acceptance. To get this card, you’ll need a good credit score of 700 or higher, so it's not the best choice if you're still building your credit.
What's Actually Good
Let's start with the obvious: the no annual fee is a definite plus. It means you can keep the card tucked away for occasional Amazon splurges without worrying about a yearly charge. The 1.5% rewards rate on Amazon purchases is decent, especially if you’re a loyal shopper. Plus, the £15 Amazon gift card right after approval is a nice, albeit small, welcome gesture. It's a user-friendly card that’s easy to manage if you’re already in the Amazon ecosystem.
- ✅ No annual fee makes it easy to keep in your wallet for Amazon purchases.
- ✅ The 1.5% rewards rate on Amazon can lead to savings over time.
- ✅ £15 Amazon gift card upon approval sweetens the deal for new cardholders.
The Catch
While the Amazon Platinum Mastercard does offer some perks, it’s not without its hang-ups. The variable APR of 24.9% is steep, so it’s crucial to pay off your balance in full each month to avoid costly interest charges. The general 0.75% rewards rate on non-Amazon purchases is underwhelming compared to competitors like the Barclaycard Rewards card, which offers 0.25% cashback on all purchases. If you’re looking for a card that gives you more back on everyday spending, this might not be it.
- ❌ High 24.9% APR could lead to significant interest charges.
- ❌ Only 0.75% rewards rate on non-Amazon purchases.
- ❌ Requires a good credit score (700+), limiting accessibility.
Who It's For
This card is ideal for frequent Amazon buyers who pay off their balance in full every month and want to maximize their Amazon purchases without an annual fee. If you've already built a good credit score, this could be a straightforward way to earn back a bit on your Amazon shopping. But if you’re looking for a one-card-fits-all solution or have a penchant for rewards on non-Amazon purchases, you might want to look elsewhere.
The Bottom Line
The Amazon Platinum Mastercard is a solid choice for dedicated Amazon shoppers who can dodge interest with regular full payments. If you're tempted by travel rewards, though, consider checking out the Hilton Honors Amex: A Traveller's Ally or Just Another Card? for a different kind of perk.
