A Comprehensive Guide to the Amazon.ca Rewards Mastercard: Is It the Right Card for You?
The Amazon.ca Rewards Mastercard is a popular credit card in Canada, known for offering rewards that cater to frequent Amazon shoppers.
Issued by MBNA, this card comes with attractive perks, especially for those who make a significant portion of their purchases on Amazon.ca.
In this guide, we’ll dive deep into the features, benefits, and potential drawbacks of the Amazon.ca Rewards Mastercard, helping you determine if it’s the right card for your wallet.
Key Features of the Amazon.ca Rewards Mastercard
The Amazon.ca Rewards Mastercard offers several features that make it appealing to consumers.
Here are the main highlights:
- No annual fee: One of the card’s biggest selling points is that it doesn’t charge an annual fee. This makes it an attractive option for those who want to earn rewards without having to pay for the privilege.
- Welcome bonus: Upon approval, new cardholders receive a $20 Amazon.ca gift card as a welcome bonus, which is automatically loaded into their Amazon.ca account.
- Foreign transaction fees: Unlike some cards that waive foreign transaction fees, the Amazon.ca Rewards Mastercard charges a 2.5% fee for purchases made outside of Canada. However, this card may still be appealing for those who primarily shop on Amazon and within Canada.
Earning and Redeeming Rewards
One of the main attractions of the Amazon.ca Rewards Mastercard is the ability to earn rewards through everyday purchases.
Let’s take a closer look at how earning and redeeming points works:
- Amazon purchases: If you’re an Amazon shopper, you’ll find the 2.5% back on Amazon.ca purchases highly valuable. This reward rate can help you accumulate points quickly if you make frequent purchases on the platform.
- Everyday purchases: For non-Amazon purchases, the card offers 1% back, which is lower than some other rewards cards on the market. However, for those who prefer simplicity and aren’t interested in managing multiple credit cards, this is still a straightforward way to earn rewards on all spending.
- Redeeming rewards: Once you’ve accumulated enough points, you can redeem them directly on Amazon.ca during checkout. There’s no minimum redemption amount, so you can apply your points whenever you make a purchase. Each point is worth $1 when redeemed on Amazon.ca, giving you a clear understanding of the value of your rewards.
→ CLICK HERE TO REQUEST YOUR CREDIT CARD
Advantages of the Amazon.ca Rewards Mastercard
The Amazon.ca Rewards Mastercard comes with several advantages that make it appealing to certain types of consumers.
Here’s what stands out:
- Ideal for frequent Amazon shoppers: If you regularly shop on Amazon.ca or at Whole Foods Market, this card is a natural fit. The 2.5% rewards rate allows you to earn more on every purchase, helping you rack up points quickly.
- No annual fee: For budget-conscious consumers, a no-fee credit card is always appealing. You don’t have to worry about offsetting an annual fee to get value from the card.
- Amazon gift card as a welcome bonus: The $20 gift card welcome bonus isn’t huge, but it’s a nice perk for those who already shop on Amazon.ca. Since it’s automatically added to your account, you can start using it immediately.
- Easy reward redemption: Redeeming points on Amazon.ca is seamless. There’s no need to transfer points or deal with complex rewards programs — you can use your points directly at checkout.
- No expiry on points: Another great advantage is that your points never expire as long as your account is open and in good standing. This means you can accumulate rewards over time without worrying about losing them.
Disadvantages of the Amazon.ca Rewards Mastercard
While the Amazon.ca Rewards Mastercard offers several benefits, it also has some limitations that may make it less appealing for certain users:
- Limited earning potential outside Amazon: The card only offers 1% back on purchases made outside Amazon.ca and Whole Foods Market. If you’re looking for a card with higher rewards on everyday spending categories like groceries, gas, or travel, there may be better options.
- Foreign transaction fee: The 2.5% foreign transaction fee is a downside for those who shop internationally or travel frequently. Many credit cards now waive these fees, so if you make a lot of purchases outside Canada, you might want to consider another card that doesn’t charge this fee.
- No premium travel or insurance benefits: Unlike some rewards cards that come with travel perks, such as trip cancellation insurance or extended warranties, the Amazon.ca Rewards Mastercard is fairly bare-bones in terms of additional benefits. This card is best suited for those who prioritize earning rewards over accessing travel-related perks.
Comparing the Amazon.ca Rewards Mastercard with Other Cards
Before deciding if the Amazon.ca Rewards Mastercard is the right card for you, it’s worth comparing it to other no-fee rewards cards on the market:
- Tangerine Money-Back Credit Card: This card offers 2% cash back on up to three categories of your choice (such as groceries, gas, or entertainment) and 0.5% on all other purchases. If you spend a lot outside of Amazon.ca, the flexibility of earning 2% on other categories may be more appealing.
- PC Financial Mastercard: The PC Financial Mastercard offers up to 3% back in PC Optimum points at affiliated stores like Loblaws, Shoppers Drug Mart, and Esso. If you frequently shop at these stores, this card may be more valuable than the Amazon.ca Rewards Mastercard, especially since it also has no annual fee.
- MBNA Smart Cash Platinum Plus Mastercard: This card offers up to 2% cash back on groceries and gas and 0.5% on other purchases, along with no annual fee. For consumers who want a simple cash-back option that rewards everyday spending categories, this card may be more versatile.
→ CLICK HERE TO REQUEST YOUR CREDIT CARD
Is the Amazon.ca Rewards Mastercard Right for You?
The Amazon.ca Rewards Mastercard is a solid option for individuals who are frequent Amazon.ca shoppers and want a simple, no-fee way to earn rewards.
The ability to earn 2.5% back on Amazon purchases, combined with easy redemption options, makes it an attractive choice for those who spend a lot on the platform.
However, if you make significant purchases outside of Amazon or travel frequently, the limited earning potential and foreign transaction fees may lead you to consider other rewards cards that offer broader perks.
Ultimately, the Amazon.ca Rewards Mastercard is best suited for budget-conscious consumers who prioritize earning rewards on Amazon purchases and want a straightforward, no-annual-fee card.
If this sounds like you, the Amazon.ca Rewards Mastercard could be a valuable addition to your wallet.
Final Thoughts
When considering the Amazon.ca Rewards Mastercard, it’s important to think about your spending habits.
If you frequently shop on Amazon and want to maximize rewards without paying an annual fee, this card may offer excellent value.
However, if you’re looking for more versatile rewards or travel perks, it may be worth exploring other options that better align with your financial goals.
→ CLICK HERE TO REQUEST YOUR CREDIT CARD
