Amazon in new rewards program for Prime

  • Amazon in new rewards program for Prime

Amazon in new rewards program for Prime

What's more, you need to fund an Amazon gift-card balance, which is what's actually used to buy things. Maximum reward payments per day are capped at $196, at which point you'd have put nearly $10k in gift card balance into your account.

Amazon already offers a branded credit card for Prime members that gives card holders 5% cash back on Amazon.com, and cash back when spending at restaurants, gas stations, and drugstores.

Amazon has quietly launched Amazon Reload, promising Prime subscribers a 2-percent reward back on every purchase as long as they jump through a few hoops.

To get started, consumers will first have to provide Amazon with their bank account and routing number, a debit card number, and their US driver's license number. If you dispute a transaction with a company, you can file a complaint with your credit card company, and the merchant then has to prove that they were allowed to make the charge.

Amazon may, without notice and at any time, limit, modify or cease to offer the rewards benefits under this offer for any reason, including if required by law, and in no event will the maximum rewards benefits that you receive from this offer exceed $196 per day.

Amazon has a slightly unusual new service called "Prime Reloaded".

While 2 percent is not a massive amount of money, it's better than nothing, and it could be the sweetener that tips some undecided on-the-fencers into taking out a Prime subscription.

It's not hard to see the incentive for Amazon, of course.

For example, if you load $100 onto your Gift Card Balance from your checking account, you'll get an extra $2 in Amazon dollars added within minutes. This way, it gets to bypass those fees while passing along some of the savings to you.

Even so, this could do a lot to expand Amazon's audience. It's a policy set up to try and prevent credit card users racking up unsecured debt, but it works great when your new phone gets stolen a month after you buy it.