Amazon’s Prime Day is one of the most hotly-anticipated shopping events of the year. This year, the online shopping extravaganza takes place over two days, giving savvy consumers even more time to snag a bargain. But what are the best credit cards for maximizing your savings this Prime Day?
When Is Prime Day 2020?
Amazon usually hosts Prime Day in the summer months. This year, however, the company is shifting its flagship sales event to the fall due to COVID-19.
Amazon Prime Day 2020 will take place between October 13 and 14, giving shoppers more time to shop and save. Prime membership is a requirement to take part in the savings, with monthly memberships costing $12.99. Annual memberships offer better value, with a $119 charge – though this fee is due upfront.
Prime Day 2020 is the ideal time to get a start for your holiday shopping. Thousands of retailers offer savings during the event, with many products reduced to (or even below) the prices you usually see during Black Friday sales.
The Best Credit Cards for Prime Day 2020
So, what are the best credit cards for maximizing your value for money this Prime Day? Here are BestCards’ top picks this year:
Discover It Cash Back
The Discover It Cash Back card is one of the top cash back credit cards thanks to a winning combination of Discover’s simple 5% Cash Back Calendar and the Cashback Match after year one of new account membership.
Unlike other cash back credit cards with revolving categories, Discover makes sure to inform customers of their 5% categories a year in advance – allowing them to strategize and plan their spending habits.
Q4 is always an exciting time for Discover It cardholders because the company prioritizes online shopping every year. This year, like last year, the Q4 categories include Walmart.com, Target.com, and Amazon.com.
If you are on the fence about what card to get for Prime Day, there are few better options than the Discover It. While the Amazon Prime Rewards Card features the Amazon name, the Discover It’s Cashback Match feature allows new cardholders to double their cash back from Prime Day after year one – that means the 5% back on Prime Day purchases will instantly become 10% back at this time next year!
Amazon Prime Rewards Visa Signature Card
If you already have Amazon Prime, the Amazon Prime Rewards Visa Signature from Chase is a logical option for making your Prime Day a joy. The card earns 5% back on purchases with Amazon and Whole Foods, which is always an enticing proposition.
The addition of a $20 Amazon gift card upon approval is another plus for this card – especially if you haven’t decided which card to apply for.
The value with the Prime Rewards Visa Signature, however, lies away from Prime Day. The card’s savings with Whole Foods makes it an ideal grocery store card, and the 2% back on dining and gas station purchases widens its appeal.
Chase Freedom Flex Mastercard
The Chase Freedom Flex is the newest entry to the Chase family of credit cards. While the new card offers benefits the old Chase Freedom lacked (like 5% back on travel purchased through the Chase Ultimate Rewards portal and 3% back on dining and drugstore purchases), it still features the ever-popular Chase 5% Cashback Calendar.
While Amazon is not one of the categories for Q4 2020, PayPal is. PayPal is an excellent tool for anyone who wants both easy, one-click online purchasing and built-in security. And since PayPal works with Amazon.com, the Freedom Flex is the ideal partner for maximizing your rewards this Amazon Prime Day.
PayPal Extras Mastercard
The Best Bad Credit Cards for Prime Day 2020
Don’t let sub-prime credit ruin your shot at saving this Prime Day. There are a few cash back credit cards available for those with lower credit scores, but which is best for Amazon purchases?
Amazon Prime Store Card Credit Builder
Most retail cards are for people with at least average credit scores. Very few retailers offer a secured card for those with bad credit, with Amazon being an exception.
The Amazon Credit Builder Secured Card (there’s also a Prime version, the Amazon Prime Credit Builder Store Card) allows those with bad credit the chance to repair their credit score and earn discounts on Amazon.com purchases in one convenient package.
Like the regular store card, the Credit Builder Card from Amazon allows cardholders to earn 5% back on all purchases with Amazon.com. New applicants will also receive an Amazon.com gift card for opening an account. Sure, the card requires a security deposit of between $100 and $1,000, but for 5% cash back that refundable deposit is well worth the cost.